Hardware Security Module Market Growth or Demand Increase or Decrease for What Includes:
Comprehensive data protection will drive up demand for hardware security modules in the near future, resulting in market development. The demand for hardware security modules is growing across all industries to secure private and sensitive data from cyber attacks, hacking, and data breaches, driving market expansion throughout the forecast period. The growing use of hardware security modules in small and medium-sized organisations for data protection in the cloud, as well as rising concerns about data security in all data-sensitive firms around the world, is a primary driver of the hardware security module market. For example, IBM offers cloud-based hardware security modules for roughly $1,250 per month, whereas Microsoft charges around $4 per hour of use.
Hardware Security Module Market CAGR Estimation:
The Hardware Security Module (HSM) Market is projected to grow at a CAGR of 10.48%, reaching a market size of USD 2.57 billion by 2029.
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Hardware Security Module Market Segmentation:
By Vertical:
- Consumer Goods & Retail
- Banking, Financial Services and Insurance (BFSI)
- Aerospace & Defense
- Public Sector/Government
- Energy and Power
- Industrial Manufacturing
- Medical and Life Sciences
- Transportation
- IT and Telecommunications
By Type:
- LAN Based/Network Attached
- PCI-Based/Embedded Plugins
- USB Based/Portable
- Smart Cards
According to Development, the cloud category is predicted to develop at the fastest CAGR of 11.52% during the projection period. Using a cloud-based HSM, users can instantly generate their own encryption keys. Cloud HSM's flexibility allows it to integrate with a variety of applications, including APIs, Java Cryptographic Extension, and others. Futurex LP has announced the launch of the industry's first public API for payment HSM in January 2021. It's designed to integrate with Futurex's enterprise encryption and key management solutions, including the Payment app. Futurex offers VirtuCrypt, a cloud-based payment HSM.
Hardware Security Module Market Overview:
The Hardware Security Module (HSM) market is driven by the growing need for data security and protection against cyber-attacks. HSMs are essential for securing cryptographic keys and ensuring comprehensive data protection. The market sees significant demand from banking and financial sectors, especially for securing payment processes using credit and debit cards.
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Hardware Security Module Market: Which Regions are Experiencing Growth or Increased Demand?
- North America: Early adoption of advanced security modules, high investment in cybersecurity, and presence of key vendors drive growth.
- Europe: Adoption of data protection regulations and increasing cyber threats boost demand for HSMs.
- Asia Pacific: Rapid digital transformation and increasing cyber-attacks spur market growth.
- Latin America: Emerging economies and increasing adoption of digital services contribute to market expansion.
- The Middle East and Africa: Growing focus on cybersecurity in government and financial sectors.
Hardware Security Module Market Scope and Methodology:
The report covers historical data from 2017 to 2021 and forecasts from 2022 to 2029. It includes a detailed analysis of market segments, competitive landscape, and key players. The research methodology involves data collection from various primary and secondary sources, including industry reports, company websites, and expert interviews.
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Hardware Security Module Market Key Players:
• Gemalto NV
• Thales e-Security Incorporated
• Utimaco GmbH
• International Business Machines (IBM) Corporation
• FutureX
• Hewlett-Packard Enterprise Development LP
• SWIFT
• Atos SE
• Ultra-Electronics
• Yubico
• Securosys SA
• CardContact Systems GmbH
• Ledger SAS
• SPYRUS
• West One Technical Limited.
List of Contents : Hardware Security Module Market
Part 01: Executive Summary
Part 02: Scope of the Hardware Security Module Market Report
Part 03: Hardware Security Module Market Landscape
Part 04: Hardware Security Module Market Sizing
Part 05: Hardware Security Module Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Key questions answered in the Hardware Security Module Market are:
• What is Hardware Security Module?
• What is the growth rate of the Hardware Security Module Market?
• Which are the factors expected to drive the Hardware Security Module market growth?
• What are the different segments of the Hardware Security Module Market?
• What growth strategies are the players considering to increase their presence in Hardware Security Module?
• What are the upcoming industry applications and trends for the Hardware Security Module Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Hardware Security Module Market?
• What major challenges could the Hardware Security Module Market face in the future?
• What segments are covered in the Hardware Security Module Market?
• Who are the leading companies and what are their portfolios in Hardware Security Module Market?
• What segments are covered in the Hardware Security Module Market?
• Who are the key players in the Hardware Security Module market?
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