Demand for Encryption ICs Increases

    Date04 Dec 2002
    CategoryCryptography
    3720
    Posted ByAnthony Pell
    With all that has happened in the last 18 months, the need for encryption chips and integrated components is picking up steam, according to In-Stat/MDR Although still in its infancy, the high-tech market research firm reports that the security IC market will be propelled upward by the continuation of heightened security concerns, coupled with the technology's ability to help companies operate more efficiently and lower operating costs. . . . With all that has happened in the last 18 months, the need for encryption chips and integrated components is picking up steam, according to In-Stat/MDR Although still in its infancy, the high-tech market research firm reports that the security IC market will be propelled upward by the continuation of heightened security concerns, coupled with the technology's ability to help companies operate more efficiently and lower operating costs.

    As a result, the encryption chip market will grow from less than $75 million in 2001 to over $575 million by 2006.

    "There is no escape from the reality that companies need to do business over the Web. Therefore, security is not an option, but a necessity," says Eric Mantion, a Senior Analyst with In-Stat/MDR.

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