Stagnant Demand for Trusted Platform Modules in the PC Client Market Offset by Growth in the Server, Networking, and Industrial Space
The Trusted Platform Modules (TPM) market, a well-established hardware security requirement for PCs, is expected to slow back down after a few high-growth years following the COVID pandemic and booming demand for home offices and personal computers. According to global technology intelligence firm ABI Research, the TPM market is expected to show minimal growth, at a 5% CAGR for the 2023-2028 period, defaulting back to nominal levels existing pre-pandemic of 199 million TPM shipments in 2028.
“The TPM market has been static for some time, with PCs and printers the primary use cases. There has always been some difficulty in expanding out to new markets. While the pandemic boom was opportunistic, it was also short-lived, revealing the frailty of a market dependent on limited diversity in usage,” explains Michela Menting, Research Director at ABI Research.
The opportunity for TPMs in IoT and industrial has never really materialized, despite the TPM 2.0 standard developed specifically for these markets. This is largely because TPMs face stiff competition from Secure Elements, which are better suited to IoT deployments.
However, with edge devices featuring IoT operating systems and better resources, TPMs are enjoying renewed interest, especially for surveillance cameras, industrial gateways, and electric vehicles. Beyond that, aggressive plays by ARM, Qualcomm, and NVIDIA in the server space are heating demand for TPMs in PC-adjacent markets.
The TPM vendor ecosystem is dominated by only three major players: Infineon, STMicroelectronics, and Nuvoton. “There is plenty of opportunity for those vendors to expand on that total available market with the right play geared towards high-compute edge devices running operating systems, leveraging the strengths that have made TPMs a defacto requirement in the PC space,” Menting concludes.
These findings are from ABI Research’s Trusted Platform Module (TPM) Market Developments application analysis report. This report is part of the company’s Trusted Devices Solutions research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific application, which could focus on an individual market or geography.
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