Hardware Security Modules Market size worth $ 7.9 Billion, Globally, by 2028 at 12.4% CAGR: Verified Market Research®

JERSEY CITY, N.J., Feb. 16, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Hardware Security Modules Market" By Type (LAN-Based HSM/Network-Attached HSM, PCI-e-Based/Embedded Plugins HSM, USB-Based/Portable HSM), By Application (Authentication, Database Encryption, PKI Or Credential Management), By Industry (Retail and Consumer Products, Banking and Financial Services, Government), and By Geography. According to Verified Market Research, the Global Hardware Security Modules Market size was valued at USD 3.1 Billion in 2020 and is projected to reach USD 7.9 Billion by 2028, growing at a CAGR of 12.4% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=5370

Browse in-depth TOC on "Hardware Security Modules Market"

202 - Pages

126 – Tables

37 – Figures

Global Hardware Security Modules Market Overview

With the rising frequency and complexity of data security threats, the need for implementing a data security threat is prevalent and one of the factors contributing to the market growth. There is a surge in technological advancements that have created a demand for security solutions. The Hardware Security Modules help to safeguard the user's personal information, digital transactions, and sensitive organization's assets against exposure and manipulations. Moreover, the increasing adoption of Hardware Security Modules in various end-use industries like banking and financial services, government, technology, and communications, manufacturing, utility and energy, retail, healthcare, and life sciences drive the market for Hardware Security Modules.

However, the high deployment cost may act as a barrier to the expansion of the market during the forecast period. Hardware security modules are designed with older generation expertise to present substantial barriers to adoption. Firstly, they are developed using commercial hardware that has a high preliminary acquisition cost. Secondly, they bring substantial complexity and cost of operations. In many cases, the staff costs to handle and control these modules greatly surpass the module cost. The total cost and complexity are not affordable for many companies, leading to critical gaps in encryption key management for data protection. However, new technologies enable businesses to reassess their cost analysis and implement stronger security controls with low initial investments.

Organizations are finding that next-generation hardware security modules and keys management capabilities offered as a subscription-based approach deliver powerful data protection and reduced the total cost of ownership. Cryptography at the hardware level is the root of providing security to many processes like document signing, authentication, and application-level encryption. If these processes are not managed, they might become complex, expensive, and risk-prone. For managing the entire life cycle of keys, hardware security modules are used. They are dedicated cryptographic hardware modules that create an isolated zone for the cryptographic functions. Key management is generally employed within an organization's IT infrastructure to manage the number and diversity of keys.

Key Developments

·  February 2020: Thales partnered with Fujitsu (Japan) to use Thales' Cloud Hardware Security Modules (HSM) and Data Protection on Demand to provide a highly secure and convenient end-to-end service for enterprise public key infrastructure (PKI).

·  April 2020: Infineon Technologies acquired Cypress Semiconductor Corporation (US). The addition of Cypress lets Infineon further bolster its focus on structural growth drivers and a broader range of applications.

Key Players

The major players in the market are Ledger & Spyrus, Inc, Swift, Yubico, ATOS SE, Hewlett Packard Enterprise Company, Futurex, International Business Machines Corporation, Utimaco GmbH, Thales E-Security Inc., Gemalto NV.

Verified Market Research has segmented the Global Hardware Security Modules Market On the basis of Type, Application, Industry, and Geography.

• Hardware Security Modules Market, By Type
• LAN-Based HSM/Network-Attached HSM
• PCI-e-Based/Embedded Plugins HSM
• USB-Based/Portable HSM
• Hardware Security Modules Market, By Application
• Secure Sockets Layer (SSL) and Transport Layer Security (TLS)
• Authentication
• Database Encryption
• PKI Or Credential Management
• Others
• Hardware Security Modules Market, By Industry
• Retail and Consumer Products
• Banking and Financial Services
• Government
• Others
• Hardware Security Modules Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
•  U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
•  India
• Rest of Asia Pacific
•  ROW
•  Middle East & Africa
•  Latin America

Browse Related Reports:

Hardware Encryption Market By Type (AES, RSA), By Application (Consumer Electronics, IT, Transport), By Geography, Forecast, 2020-2027

Data-Centric Security Market By Deployment Type (On-Premise, Cloud), By Industry (Government and Defense, Healthcare and Pharmaceuticals, IT and Enterprises), By Geography, Forecast, 2020-2027

Managed Security Services Market By Type (Managed Identity And Access Management, Managed Firewall), By Security Type (Managed Application Security, Managed Cloud Security), By Organization Size (Large Enterprise, Small And Medium Enterprise), By Deployment Model (On-Premises, Cloud), By Vertical (BFSI, Retail), By Geography, Forecast, 2020-2027

Automotive Cyber Security Market By Security (Endpoint Security, Application Security), By Application (Telematics System, Body Control & Comfort System), By Form (In-Vehicle and External Cloud Services), By Vehicle (Passenger Car and Commercial Vehicle), By Geography, Forecast, 2020-2027

Leading Security Label Manufacturers tracking and securing consumer goods via high-end security

Visualize Hardware Security Modules Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

SOURCE Verified Market Research