The Embedded Security Market is Poised for Strong Growth, with Advanced Edge Devices Driving Revenue Opportunities

NEW YORK, July 3, 2024 /PRNewswire/ — The embedded security and digital authentication market is poised for rapid growth in the coming years. This growth will be driven by several factors: increased threats, new regulations, and requirements for secure lifecycle management. ABI Researchglobal technology intelligence firm, predicts the market for embedded secure hardware will grow 12% through 2028, when total shipments will reach almost 8 billion worldwide.

“The embedded space is home to a multitude of form factor requirements that enable a rich and complex security ecosystem that is constantly evolving. The convergence of the secure element and eSIM space, the hybridization of secure MCUs and MPUs, and the fragmentation of the TEE market are all creating demand for security driven by a myriad of applications and use cases,” he says. Michela MentingSenior Research Director at ABI Research.

At the bottom of the stack, simple secure storage, secure boot processes, or hardware root of trust functionality can be implemented by a secure element. At the other end of the spectrum, complex, multi-application edge devices with embedded operating systems want to protect machine learning algorithms in secure execution environments. According to Menting, “It’s this latter market that will generate the most revenue. Better virtualization technologies in smaller form factors enable parallel secure containerization and enclaves for confidential computing in embedded systems; these capabilities are highly desirable for flexible but secure device management.”

From secure ICs to TEE-based microcontrollers, the embedded security market is dynamic and competitive, supporting dozens of semiconductor and silicon IP vendors. Dominant proprietary solutions are increasingly being challenged by alternatives and open source technologies that do not necessarily adhere to established standards. This fragmentation can sometimes be problematic in terms of security consistency and interoperability, but it also indicates a gap in the market that clearly cannot be filled by incumbent players alone.

“With the growing threat landscape, especially in the IoT space, and increasing policy and regulation pushing for more supply chains and endpoint devices, the outlook for the secure embedded hardware market is highly opportunistic,” Menting concludes.

These findings come from the ABI Research Digital Authentication and Embedded Security market data report. The report is part of the company’s Trusted Device Solutions research service, which includes research, data, and ABI Insights.

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SOURCE ABI Research