The global Hardware Security Modules (HSMs) market size reached USD 1.22 Billion in 2021 and is expected to register a revenue CAGR of 11.8% during the forecast period, according to latest analysis by Emergen Research. Increasing focus on data security in cloud is a key factor driving market revenue growth. Data security has been a major concern in information technology. It becomes especially crucial in cloud computing environment because data is stored in multiple locations, even across the globe. The biggest concern for users regarding cloud technology is data security and privacy protection, which creates high demand for hardware security modules. Cloud HSM is a Hardware Security Module (HSM) service hosted in cloud that allows users to store encryption keys and execute cryptographic operations in a cluster. Various companies are offering Cloud HMS services, for example, Amazon Web Services (AWS) Cloud HSM is a cloud-based Hardware Security Module (HSM) that allows users to quickly produce and use their own encryption keys on Amazon Web Services Cloud.
The latest and updated research report on the Global Hardware Security Modules Market covers a comprehensive overview of the Hardware Security Modules market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Hardware Security Modules market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
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Some Key Highlights from the Report
- The database encryption segment is expected to register a steady revenue growth rate over the forecast period due to stringent data privacy regulations and increasing risk of data breaches among organizations. HSMs protect from hackers stealing content from a sensitive database. For example, Fortanix, a U.S. based software company made database encryption easier by providing a single integrated key management and Hardware Security Module (HSM) for managing and storing cryptographic keys across all of databases of the user.
- The retail and e-commerce segment is expected to register a steady revenue growth rate over the forecast period due to growing adoption of hardware security modules among retail and e-commerce industries to secure network points for employees, third-party vendors, and e-commerce websites. Retail sector is the main target for hackers due to large amount of monetary transactions taking place in this sector via, debit cards, credit cards, and other payment systems.
- The North America market is expected to register a steady revenue growth rate during the forecast period due to rising investments by governments in cyber securities. In addition, growing adoption of advanced technologies, especially in the U.S. creates ample opportunities for the market in this region.
- On 7 June 2022, IBM, a American multinational technology corporation and Atos, a France based multinational information technology service company announced to expand their partnership on IBM Cloud for Financial Services to assist financial services firms in achieving optimal data and system security. This will allow organizations, such as operators of vital importance and operators of essential services, to advance in their use of cloud technology.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
IBM Corporation, Thales Group, Utimaco Safeware., Atos SE, STMicroelectronics, Microchip Technology Inc., Hewlett Packard Enterprise, Gemalto NV, QLogic Corporation, and Futurex LP.
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Furthermore, the report divides the Hardware Security Modules market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented global hardware security modules market on the basis of type, deployment type, application, end-use, and region:
- Type Outlook (Revenue, USD Million; 2019-2030)
- LAN Based
- USB Based
- PCI Based
- Smart Cards
- Others
- Deployment Type Outlook (Revenue, USD Million; 2019-2030)
- Cloud Based
- On-Premises
- Application Outlook (Revenue, USD Million; 2019-2030)
- Payment Processing
- Code and Document Signing
- Application-level encryption
- Database Encryption
- Authentication
- Document Signing
- PKI and Credential Management
- Others
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecommunication
- Government
- Industrial Manufacturing
- Healthcare
- Retail and E-commerce
- Transportation
- Others
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Hardware Security Modules Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Hardware Security Modules industry
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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