SEALSQ Accelerates Momentum in Custom ASIC Development Across Multiple Countries

Rhea-AI Summary

SEALSQ Corp (NASDAQ: LAES) announced progress in custom ASIC development projects across India, Spain, and Saudi Arabia. The company specializes in developing application-specific integrated circuits with embedded post-quantum cryptographic algorithms for various sectors including telecommunications, automotive, and healthcare. The global ASIC market is projected to grow from $24.6 billion in 2023 to $41.7 billion by 2030, with a 7.8% CAGR. SEALSQ's ASICs utilize MOS technology to deliver high-density performance and security features, positioning the company strategically in the semiconductor market amid growing US-China competition.

Positive

• Global ASIC market projected to grow from $24.6B to $41.7B by 2030
• Geographic expansion into multiple countries (India, Spain, Saudi Arabia)
• Strategic positioning in high-growth sectors (telecommunications, automotive, healthcare)

Negative

• None.

Insights

Technology Analyst

The advancement into custom ASIC development across multiple countries represents a significant strategic pivot for SEALSQ. The company's focus on integrating post-quantum cryptographic algorithms into ASICs addresses a critical market gap in the semiconductor industry, particularly as quantum computing threats loom larger.

The targeted $41.7 billion ASIC market by 2030, growing at a 7.8% CAGR, presents substantial revenue potential. However, investors should note that SEALSQ's small market cap of $12.2 million indicates significant execution risks in competing with established semiconductor giants. The company's strategic positioning in high-growth sectors and geopolitically significant regions (India, Spain, Saudi Arabia) could provide competitive advantages, especially given current U.S.-China semiconductor tensions.

The integration of hardware-based security features and post-quantum capabilities differentiates SEALSQ's offerings, potentially commanding premium pricing in security-sensitive applications like IoT and cloud computing. Yet, success will heavily depend on the company's ability to scale production and secure design wins against larger competitors.

Geneva, Switzerland, Nov. 12, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a leader in the development of post-quantum technology, announced today that it is advancing in custom application-specific integrated circuit (“ASIC”) projects in several countries (India, Spain, Saudi Arabia), targeting key markets and fueling significant growth in both revenue and market position. SEALSQ’s strategic focus on ASIC development reflects its dedication to securing its place in the rapidly evolving semiconductor market, marked by increasing demand for high-performance, application-specific solutions.

Expanding the ASIC Market: Demand for Customization and Performance Optimization

SEALSQ ASICs are tailored IC chips designed for specific applications, setting them apart from general-purpose chips. This approach enables SEALSQ to deliver products that achieve superior performance, efficiency, and cost-effectiveness compared to alternatives such as FPGAs and microcontrollers. The company’s ASICs have applications in several high-growth sectors, including telecommunications, automotive, consumer electronics, industrial automation, and healthcare.

The global ASIC market is poised for rapid growth, expected to expand from $24.6 billion in 2023 to approximately $41.7 billion by 2030, at a compound annual growth rate of 7.8% (Source: ASIC – Global Strategic Business Report). This surge is driven by the increasing need for customized solutions that leverage advancements in process nodes, packaging technologies, and integration for enhanced performance, lower power consumption, and reduced size, all critical for AI, IoT, and 5G applications.

Technological Edge: Post-Quantum Security in a Growing Geopolitical Landscape

At the core of SEALSQ's ASIC innovation is the integration of post-quantum cryptographic algorithms, positioning the company as a leader in cybersecurity for digital systems in a post-quantum world. With concerns around cybersecurity rising, SEALSQ has prioritized the development of ASICs with embedded hardware-based security features, such as encryption and authentication, addressing vulnerabilities in applications like IoT and cloud computing.

This approach also underscores SEALSQ’s commitment to innovation within the current geopolitical climate. With ongoing competition in semiconductor production between the U.S. and China, and Taiwan producing 60% of the world’s advanced sub-7-nanometer chips, SEALSQ is strategically positioned to contribute to secure, resilient digital infrastructure. These chips are critical to advancements in AI, 5G, and defense technology, placing countries and corporations alike in pursuit of reliable and secure semiconductor sources.

The SEALSQ ASIC Advantage: Optimized for Application-Specific Excellence

Designed using metal–oxide–semiconductor (MOS) technology, SEALSQ’s ASICs deliver high density and performance, specifically engineered to excel in their designated applications. From low-power solutions for IoT sensors to robust chips for automotive ADAS and EV systems, SEALSQ’s custom ASICs are paving the way for a new era of secure, specialized hardware.

Future Outlook and Market Leadership

As SEALSQ continues to build momentum, the company is poised to become a market leader in custom ASIC development, leveraging its expertise in post-quantum technology and application-specific design to serve a growing roster of industry players. This expansion not only enhances SEALSQ’s revenue pipeline but also reinforces its standing as a critical player in the global technology landscape, especially as the demand for secure, high-performance semiconductor solutions escalates across industries and geopolitical boundaries.

About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.

Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ's ability to implement its growth strategies, SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Press and Investor Contacts

SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com

SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com

FAQ

What is SEALSQ's (LAES) projected ASIC market growth by 2030?

According to the PR, the global ASIC market is expected to grow from $24.6 billion in 2023 to $41.7 billion by 2030, with a compound annual growth rate of 7.8%.

Which countries is SEALSQ (LAES) expanding its ASIC development into?

SEALSQ is advancing its ASIC development projects in India, Spain, and Saudi Arabia.

What industries does SEALSQ (LAES) target with its ASIC technology?

SEALSQ's ASICs target telecommunications, automotive, consumer electronics, industrial automation, and healthcare sectors.

What technology does SEALSQ (LAES) use in its ASIC development?

SEALSQ uses metal-oxide-semiconductor (MOS) technology and integrates post-quantum cryptographic algorithms in its ASIC development.