(MENAFN- Ameliorate Digital Consultancy) The Global Hardware Security Modules Market Is Projected To Reach 3.1 Billion By 2030, With A CAGR Of 14.4%.
Global Hardware Security Module (HSM) Market Overview
Global hardware security module (hsm) Market Size, Status, and Forecast 2022-2030. In-depth research accumulated to offer the latest insights about acute features of the global Hardware Security Module (HSM) market. This report provides a detailed overview of key factors in the Hardware Security Module (HSM) Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Hardware Security Module (HSM) in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of the COVID-19/Russia-Ukraine War on the regional economy.
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Some of the key players profiled in the study are
IBM Corporation, Thales Group, Utimaco Safeware., Atos SE, STMicroelectronics, Microchip Technology Inc., Hewlett Packard Enterprise, Gemalto NV, QLogic Corporation, and Futurex LP, and Others.
Rising cyberattacks and data breaches worldwide, compliance with stringent data security regulations, and increasing focus on data security in the cloud are some of the key factors driving hardware security module market revenue growth. Moreover, growing demand for securing cryptographic keys and managing encryption and decryption processes is expected to support revenue growth in the market.
A hardware security module (HSM) is a device that adds another layer of protection to sensitive data. The device provides cryptographic keys for critical operations such as authentication, encryption, and decryption for databases and applications, and protects an organization's cryptographic architecture. The hardware security module manages, processes, and stores cryptographic keys within a hardened, tamper-resistant shell. HSMs can also create and verify digital signatures and access transactions that are recorded to create an audit trail. Businesses can use devices to convert confidential information and processes from paper documents to digital formats.
The rise in cyber attacks and data breaches worldwide, especially in the BFSI, telecommunications and retail sectors, has boosted the demand for hardware security module systems. According to a 2022 UK government survey, 39% of UK businesses have confirmed a cyberattack in the past 12 months. On March 28, 2022, the National Telecommunications Authority of Marshall Islands suffered a Distributed Denial of Service (DDoS) attack that disrupted Internet access on the islands for over a week. On May 9, 2022, the Bank of Zambia announced the disruption of certain banking services due to a cyberattack.
Hardware Security Module (HSM) Market Segmentation:
By Type:
Local Interface Remote Interface USB Token Smart Cards Other
By Applications:
Payment Processing Code and Document Signing SSL and TLS Authentication Database Encryption PKI or Credential Management Application-Level Encryption Other
By Industry:
BFSI Healthcare & Life Sciences Manufacturing Retail & CPG Government & Defense Energy
Recent Developments:
On June 6, 2022, IBM entered into an agreement with Thailand-based financial services provider Siam Commercial Bank to improve the security of numerous digital transactions on its recent platform and better serve its clients. The collaboration aims to leverage IBM's core expertise in providing a secure and resilient enterprise platform for mission-critical apps and data in the hybrid multicloud to mitigate risk and reduce fraud in financial transactions. On February 22, 2022, the French multinational Thales Group announced that its payShield 10K technology supports Microsoft Azure Payment Hardware Security Module (HSM) offerings. A new service that uses cryptographic key operations to secure sensitive real-time payment transactions in Azure.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia, and New Zealand, etc.
The European market accounted for the largest revenue share in the global hardware security module market in 2021. The increasing adoption of advanced technologies such as 5G, LoT, and artificial intelligence (AI) has led countries across the region, especially the UK, Germany and France. A number of cyberattacks have occurred in the European banking and retail sectors in recent years.
The North American market is expected to register steady revenue growth over the forecast period, owing to increasing adoption of hardware security modules in various end-use industries such as BFSI, retail, telecommunications, and government organizations, especially in countries across the region. in the US and Canada.
The Asia-Pacific market is expected to register rapid revenue growth during the forecast period, owing to the advancement of IT companies and increasing number of cyberattack incidents in the region, especially in China, Japan, and India. According to the study, Asia was the most targeted region for cyberattacks in 2021.
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Table of Content of Hardware Security Module (HSM) Market:
1: Introduction, market driving force product Objective of Study, and Research Scope of the Global Hardware Security Module (HSM) market (2022-2030).
2: Exclusive Summary – the basic information of the Global Hardware Security Module (HSM) Market.
3: Changing Impact on Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Global Hardware Security Module (HSM); Post COVID Analysis.
4: Presenting the Global Hardware Security Module (HSM) Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
5: Displaying the by Type, End User and Region/Country 2017-2022.
6: Evaluating the leading manufacturers of the Global Hardware Security Module (HSM) Market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile.
7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2022-2030).
... To be continued
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Key Questions Answered in the Hardware Security Module (HSM) Market Report:
How much was the global Hardware Security Module (HSM) market in 2022? How much will the global Hardware Security Module (HSM) market worth in 2030? At what compound annual growth rate will the global Hardware Security Module (HSM) market grow? Which segment is estimated to lead the Construction Robot market during the forecast period? What is the key market driver for the growth of the global Hardware Security Module (HSM) market? A wealth of financial data & business strategy information is provided including:
Up-to-date company financials, sales & revenue figures. Revenue and market forecasts. Business model strategies for niche companies. A comprehensive explanation of company products, financials & portfolios.
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