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In 2013, NIST initiated the lightweight cryptography project to study the performance of the current NIST-approved cryptographic standards on constrained devices and to understand the need for a dedicated lightweight cryptography standard, and if the need is identified, to design a transparent process for standardization. In 2015, NIST held the first Lightweight Cryptography Workshop in Gaithersburg, MD, to get public feedback on the requirements and characteristics of real-world applications of lightweight cryptography.
Currently, NIST is developing a report on lightweight cryptography, which will provide an overview of the project, as well as the plans for moving forward. In particular, NIST has decided to create a portfolio of dedicated lightweight algorithms through an open process similar to the selection of modes of operation of block ciphers. Algorithm recommendations will be associated with 'profiles' that target a class of devices and applications. NIST seeks to discuss issues related to potential future standardization process of lightweight primitives, including the proposed standardization process and profile construction.
NISTIR 8114: Report on Lightweight Cryptography (March 2017)