The mobile device hardware security market is projected to jump from $430 million in 2012 to $1.9 billion by 2017, according to a new report from ABI Research.
The bulk of the market is attributed to embedded chip security technology, such as ARM’s TrustZone and other semiconductor companies’ security solutions. Revenues generated by secure elements for NFC and biometric sensors are also factored into the mix, though relatively small compared to embedded chip security. This will change, however, in the next two years, according to ABI.
Today it is estimated that there are only 60 NFC smart phones on the market, which account for a small segment of the mobile device security market, according to the report. Nevertheless, within the next two years NFC security will account for half of mobile device hardware security revenues, driven by an increase in demand for NFC phones capable of making point of sale transactions for small items such as coffee and transport tickets.
“The primary drivers for embedded chip security are increasing demand of mobile payment transactions, digital rights management, enterprise protection, and control access to the device,” explained ABI senior analyst Joshua Flood.
Click here to access the report.