SEALSQ Unveils INeS Box to Simplify Digital Identity Provisioning in Manufacturing

Rhea-AI Summary

SEALSQ (NASDAQ: LAES) has launched the INeS Box, a new solution for secure digital identity provisioning in manufacturing connected devices. The product features a portable industrial computer with 128 GB SSD and FIPS 140-3 certified Hardware Security Module, offering secure storage for private keys and certificates.

The INeS Box is designed for manufacturers in industries requiring secure connectivity, such as EV charging, medical IoT, and smart home devices. It provides automated provisioning operations, flexible configurations, and cost-efficient implementation with preset certificate credits and technical support.

This launch aligns with the growing IoT Identity and Access Management market, which is projected to expand from $4.9 billion in 2021 to $47.2 billion by 2031, with a CAGR of 25.4%.

Positive

• Product targets rapidly growing IoT IAM market projected to reach $47.2B by 2031
• Features FIPS 140-3 certified Hardware Security Module enhancing security credentials
• Automated provisioning reduces manufacturing cycle times and human error

Negative

• None.

Insights

Tech Expert

The INeS Box launch represents a significant technological advancement in IoT security infrastructure. The product's FIPS 140-3 certified HSM and comprehensive security features address critical vulnerabilities in IoT device manufacturing. With automated provisioning capabilities and flexible deployment options, it solves a major pain point in the industry. The integration of Matter standards compliance and US Cyber Trust Mark readiness positions this solution strategically in the rapidly evolving IoT security landscape. The projected $47.2 billion market size by 2031 with a 25.4% CAGR indicates substantial growth potential. However, SEALSQ's small market cap of $13.4M raises questions about their ability to capture significant market share despite having an innovative product.

Market Research Analyst

The timing of this product launch aligns perfectly with the explosive growth in IoT device manufacturing and increasing regulatory focus on cybersecurity. The IoT IAM market's expansion from $4.9 billion to $47.2 billion by 2031 presents a massive opportunity. SEALSQ's strategic focus on high-growth sectors like EV charging, medical IoT and smart home devices demonstrates market awareness. The INeS Box's automated features and compliance with emerging standards like Matter position it well for enterprise adoption. However, competition in this space is intense, with larger security firms likely to introduce similar solutions. The success will largely depend on SEALSQ's ability to execute sales and maintain technological advantages.

Geneva, Switzerland, Dec. 05, 2024 (GLOBE NEWSWIRE) --

A video demonstration of the INeS Box is available at https://www.youtube.com/watch?v=exHu7nBws8c

SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced the launch of the INeS Box, a state-of-the-art solution designed to address the growing demand for secure digital identity provisioning in the manufacturing stage of connected devices. The INeS Box simplifies, secures, and scales the process of generating unique digital identities, ensuring trust and security across the entire lifecycle of IoT devices.

The INeS Box is tailored for manufacturers, including OEMs, ODMs, and EMS providers, operating in industries where secure connectivity is paramount, such as EV charging, medical IoT, and smart home devices. With major standards like Matter, US Cyber Trust Mark, and others increasingly requiring robust digital identity provisioning, the INeS Box positions SEALSQ customers at the forefront of compliance and innovation.

“Digital identity provisioning is the cornerstone of secure device manufacturing,” said Gweltas Radenac, IoT Security Business Line Director at SEALSQ. “The INeS Box not only streamlines this critical process but also ensures compliance with emerging security standards, providing our partners with a future-proof solution that delivers both trust and efficiency.”

Key Features and Benefits of INeS Box

1. Secure by Design:

• Portable industrial computer with a 128 GB SSD.
• Built-in Hardware Security Module (HSM) certified to FIPS 140-3.
• Secure operating system, software updates, and connections.
• Secure storage for sensitive data, such as private keys and certificates.

2. Automation and Scalability:

• Fully automated provisioning operations to eliminate human error.
• Seamless integration with increased production volumes.
• Flexible configurations for both offline (standalone) and online operations with local PKI.
  
  

3. Cost Efficiency:

• Reduces manufacturing cycle times.
• Includes preset certificate credits and technical support for easy installation and operation.

4. Comprehensive Digital Identity Management:

• Unique data generation for each device.
• Secure injection of private keys and certificates.

Addressing the Booming IoT Device Identity Management Market

The global IoT Identity and Access Management (IAM) market is experiencing significant growth, driven by the proliferation of connected devices and the escalating need for robust security measures. According to Allied Market Research, the IoT IAM market was valued at $4.9 billion in 2021 and is projected to reach $47.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 25.4% from 2022 to 2031. This surge is attributed to rising security breaches, heightened identity fraud cases, and increasing awareness regarding compliance controls.

These projections underscore the critical importance of secure digital identity provisioning in the IoT ecosystem. The INeS Box by SEALSQ responds to this growing demand, offering manufacturers and integrators a comprehensive solution that ensures security and trust in IoT device ecosystems.

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 anticipates 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 the INeS Box launched by SEALSQ (LAES)?

The INeS Box is a digital identity provisioning solution featuring a portable industrial computer with 128 GB SSD and FIPS 140-3 certified Hardware Security Module, designed for secure manufacturing of connected devices.

What market size is projected for IoT Identity Management where SEALSQ (LAES) operates?

The IoT Identity and Access Management market is projected to grow from $4.9 billion in 2021 to $47.2 billion by 2031, with a CAGR of 25.4%.

What are the key features of SEALSQ's (LAES) INeS Box?

Key features include secure storage for private keys and certificates, automated provisioning operations, flexible configurations for offline and online operations, and preset certificate credits with technical support.