IoT will drive the embedded security market to $4.6B

2023/07/04 Innoverview Read

According to ABI Research, the demand for embedded security in IoT devices is on the rise.

In the rapidly-evolving landscape of the IoT, high-performance embedded secure hardware is becoming increasingly important.

Traditionally, high-performance secure hardware has been associated with devices such as PCs and smartphones. However, as penetration into these markets reaches saturation, new opportunities are emerging in the IoT sector.

IoT devices have long utilised secure elements and integrated circuits to store certificates and keys securely. But now, the integration of high-performant hardware – particularly through trusted execution environment (TEE) technology – is gaining traction.

TEE technology ensures the secure execution of applications on IoT devices, making it crucial for both mission-critical and general-purpose use cases.

This shift towards high-performance embedded security can be attributed to advancements made by semiconductor vendors. Companies like ARM and the open-source RISC-V movement have played significant roles in developing TEEs for microcontrollers, expanding the possibilities for secure IoT devices.

According to ABI Research, shipments of TEE-enabled microcontrollers are expected to triple by 2023, while TEE shipments for system-on-chips (SoCs) are projected to maintain a steady growth rate of 14 percent year-on-year.

The key markets driving this demand for high-performance embedded security include utilities, industrial IoT, retail, advertising, supply chain, smart home, and connected car sectors. Leading semiconductor companies such as Renesas, NXP, STMicroelectronics, Microchip, Infineon, and Nuvoton are serving these markets with their advanced secure hardware solutions.

As the IoT ecosystem continues to expand, the need for high-performance embedded security becomes increasingly critical. With technological advancements and a competitive market driving innovation, IoT devices can benefit from enhanced security measures that protect against cyber threats and ensure the integrity of data and applications.

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