ABI Research, a global tech market advisory firm, predicted by the year 2024, shipments of secure hardware that serves digital authentication and embedded security will reach 5.3 billion.
“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,” explains digital security research director at ABI Research Michela Menting, in a press release. “Yet, less than 10% of IoT devices are currently being protected with hardware security.”
Despite this, hardware security technology has been increasing at rapid rates. The technologies being obtained in the IoT market comes from a range of form factors, some of which are being adapted from existing solutions. These solutions include Trusted Platform Modules (TPMs) and Trusted Execution Environments (TEEs), NFC embedded Secure Elements, and Authentication ICs, among others.
While OEMs will have many options, ABI believes they will most likely incorporate the TPMs or TEEs to manage encryption keys or run secure operating systems.
The report also noted, as these technologies are becoming an increasingly important commodity, vendors are aggressively competing to of development and connectivity services.
Also mentioned in the report, the efforts in R&D in technology advancement for hardware security for the IoT has been driven in large part by companies such as NXP, Infineon, STMicroelectronics, Renesas, Arm, Qualcomm, Samsung, Intel, Microchip, Maxim, Nuvoton, MediaTek, Texas Instruments, Gemalto, G+D, IDEMIA, Rambus, Synopsis, Silex IP, MIPS, Intrinsic ID, and Kudelski IoT Security, among others.
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