As the Internet of Things (IoT) continues to evolve, the demand for efficient hardware solutions is crucial. The paper explores the significance of hardware multiplication in IoT devices and discusses the challenges and opportunities in implementing dedicated hardware accelerators for multiplication operations. It specifically focuses on a highly efficient NxN-bit folded pipeline multiplier designed using advanced 22 nm CMOS technology and a modified hierarchical design approach. This multiplier achieves remarkable performance enhancements by reducing critical path delay through pipelining, resulting in a three-fold increase in operational speed compared to conventional multipliers. Additionally, it consumes only 0.2 mW of power and reduces chip area consumption by over 28 %. The paper emphasizes the importance of minimizing computational latency and power consumption to enable IoT devices to execute complex algorithms with improved speed and resource utilization. It also addresses trade-offs, such as area overhead and design flexibility, associated with hardware multiplication. The insights provided contribute to ongoing efforts to optimize hardware components for IoT applications, fostering the development of more capable and responsive IoT ecosystems. The study presents a rapid and energy-efficient alternative for multiplication in digital hardware, addressing the need for high-performance and energy-efficient devices in the context of the IoT.