Global Hardware Security Modules Market size was valued at US$ 545.3 Mn in 2019 and is expected to reach US$ 1445.3 Mn by 2027 to exhibit a CAGR of 12.96 % during the forecast period.
A hardware security module is a physical computing device that maintains and manages digital keys for strong confirmation and offers crypto processing. These modules usually come in the form of a plug-in card or an exterior device that attaches directly to a computer or network server. Due to the serious role they play in securing applications and infrastructure, hardware security modules and/or the cryptographic modules are naturally certified to internationally familiar standards.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Hardware Security Modules Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Hardware Security Modules Market.
The major driving factors of the global Hardware Security Modules Market are the increase in Data breaches and cyber-attacks, advance in data breaches and cyber-attacks regulations and effective organization of cryptographic keys.
The key restraint of the global Hardware Security Modules Market is high Cost Related with Hardware Security Modules.
The major opportunities in the global hardware security modules market are in demand for HSMS for data safety in the cloud atmosphere and attain point-to-point encryption by complying with PCI standards.
Discovering sensitive data and understanding the significance of protecting this data by organizations and incapacity to control the key organization from outside HSM physical protection boundary are the key challenges in this market.
Application Authentication segment plays a significant role in safeguarding the data and information by proving the protected key entirely to the official person for creating any transaction, logging in, or performing any administrative process. So, the placement of HSMs for the verification application is growing fast and is estimated to grow at a faster rate during the forecast period.
The market for other industries segment which includes media and entertainment, education, and transportation industries, is anticipated to raise at a high rate, followed by the retail and consumer goods industry.
Latin America is anticipated to be the fastest rising market for the hardware security modules, followed by APAC during the forecast period. The market in Latin America is anticipated to grow at the highest rate during the forecast period due to the construction of new regulatory compliances and the implementation of modern technologies such as cloud and IoT, which create a vast opportunity for data and information security.
Scope of the Global Hardware Security Modules Market
Global Hardware Security Modules Market, by Deployment Type
Global Hardware Security Modules Market, by Type
• LAN-Based HSM/Network-Attached HSM
• PCI-Based/Embedded Plugins HSM
• USB-Based/Portable HSM
Global Hardware Security Modules Market, by Application
• Retail Stores, Supermarkets, and Shopping Malls
• Banking and financial Institutes
• Sports and Entertainment
Hardware Security Modules Market, by Industry
• Banking and Financial Services
• Type and Communications
• Industrial and Manufacturing Industry
• Energy and Utilities
• Retail and Consumer Products
• Healthcare and Life Science
• Others (Entertainment and Media, Education, and Transportation)
Global Hardware Security Modules Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Hardware Security Modules Market
• Gemalto NV
• Thales E-Security Inc.
• Utimaco GmbH
• International Business Machines Corporation
• Hewlett Packard Enterprise Company
• ATOS SE
• Ultra Electronics
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