Mobile financial apps fuel demand for hardware security for mobile devices
Without hardware security for mobile devices, apps for mobile commerce, mobile money and mobile wallets will have "difficulty getting off the ground and finding adoption by credit card providers," judges ABI Research.
Hardware security for mobile devices involves the use of hardware-rooted security employed in PCs and laptops. The National Institute of Standards and Technology says (.pdf) that hardware-rooted security for mobile devices have three components: roots of trust (RoTs), an application programming interface to expose the RoTs to the platform and a policy enforcement engine.
The increasing need to have hardware security for mobile devices is forecast by ABI to generate $1 billion by the end of this year.
At the same time, ABI identifies obstacles for growth of the hardware security market, including a fragmented mobile device market with numerous suppliers both on the OEM side and the silicon IP side. Firms in this space include ARM, Trustonic and Samsung.
These efforts are "colliding head-on" with work by the PC industry to adapt existing hardware security methods to the mobile market. Companies in this space include Intel and Microsoft.
"Interesting partnerships are being formed in the market, with players still unsure which technology will ultimately prevail. Yet all are aware of the pressing demand for security and that they will need to dive into the turbulent waters soon if they want to stay ahead of the game," says Michela Menting, ABI's senior analyst in cybersecurity.