Embedded Hardware Security Shipments To Reach 5.3 Billion By 2024: ABI Research

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  • Hardware security technology development is accelerating rapidly, and the technologies being adopted today in IoT markets come in a range of form factors
  • Vendors are competing aggressively to offer a variety of complimentary development and connectivity services

The shipments for secure hardware serving digital authentication and embedded security will reach 5.3 billion by 2024, double the number of shipments in 2019 as per ABI Research. Hardware security technology development is accelerating rapidly, and the technologies being adopted today in IoT markets come in a range of form factors said ABI Research. factors. Some are adapted from existing security solutions like Trusted Platform Modules (TPMs) and Trusted Execution Environments (TEEs), NFC embedded Secure Elements, and Authentication ICs. Some are emerging from IoT market demand like embedded SIM and Secure Microcontrollers.

Michela Menting, Digital Security Research Director at ABI Research said, “Hardware-based security offers better protection from manipulation and interference than its software-based counterpart because it’s more difficult to alter or attack the physical device or data entry points. Yet, less than 10 per cent of IoT devices are currently being protected with hardware security.”

R&D processes and cutting go-to-market timeframes

The wide range provides OEMs a choice in security feature sets that can be adapted to their specific use cases. Higher-level security demands will likely incorporate TPMs or TEEs to manage encryption keys or run secure operating systems. Devices that need basic security functionalities, an eSIM, or authentication IC (e.g. consumer devices) for a simple identifier or for brand protection purposes will help.

Menting adds, “Certainly, this dynamism means there is plenty of opportunity in the market for new secure hardware technologies targeted at the IoT. The emergence of iSIM, secure microcontrollers with TEE functionality, and even hybrid dual-core micro and application processors are a testament to the growing demand for embedded security.”

The report said that vendors are competing aggressively to offer a variety of complimentary development and connectivity services. This allows faster R&D processes and cutting go-to-market timeframes.

Menting said, “Embedded security technologies provide an effective anchor from which trust can be established, and from where new supporting platforms and services, such as device lifecycle management, can be supported. As such, they are seeing a high adoption rate in IoT applications.”

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