EMBEDDED SECURITY FOR INTERNET OF THINGS (IOT) MARKET ANALYSIS

Market Challenges And Opportunities

Global Embedded Security For Internet of Things (IoT) Market- Drivers:

Increasing Number of Connected Devices via IoT Networks

The growing adoption of IoT worldwide has increased the number of devices being connected, exchanging data, and communicating with each other. These devices connected through IoT networks are used in several industry verticals including healthcare, retail, smart cities, industrial automation, agriculture, etc. For instance, On Jan 13, 2022, TSMC, a Taiwan-based semiconductor company, has increased its capital expenditure approximately $15 billion to $42–$44 billion in 2022.

Implementation of industry guidelines to adopt embedded hardware solutions

Since the cyber-attacks have been increased in the recent past significantly, numerous organizations that support the best practices for employing IoT solutions have issued guidelines for implementation and adoption of essential security solutions. Deploying embedded chipsets and embedded software is one such guideline to promote adoption of embedded security systems for IoT.

Global Embedded Security for Internet of Things (IoT) Market- Opportunities:

Limited Availability of High Computational Power for IoT Networks        

The scarcity of high computational power in IoT networks is expected to open up promising growth prospects for businesses operating in the market. Network security applications typically demand substantial power consumption, and utilizing lower-power embedded hardware can potentially jeopardize the overall system's integrity.

For instance, On April 2020, Intel Corporation, a technology and semiconductors manufacturing company introduced Xeon CPUs bundled with FPGA (field-programmable gate array) chips that can be programmed to adjust computational power according to specific applications and workloads. These chips offer a solution for equipping IoT devices with robust processing capabilities, effectively addressing the dearth of high computational power in IoT networks. This development presents market players with an opportunity to capitalize on the growing demand for enhanced computational performance in the IoT sector.