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. 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. Increasing concerns for data security in cloud is expected to drive revenue growth of the market during the forecast period.

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Rising cyber-attacks and data breaches across the globe create high demand for hardware security modules among organizations. Advancement of new technologies, such as Internet of Things (IoT), and Artificial Intelligence (AI), makes most businesses vulnerable to cyber-attacks. According to a study, between June 2020 to June 2021, the transportation industry has faced 186% increase in weekly ransomware attacks. For instance, in 2020, 9 million email addresses and travel details of customers were hacked from EasyJet company, out of which credit card information of approximately 2,200 customers was also compromised. Various cyberattacks in the recent years prompt organizations to adopt hardware security modules to strengthen their cyber security.

A novel report on global Hardware Security Modules Market is published by Emergen Research, offering current developments and emerging trends of the market. The report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. The report covers all crucial and essential information related to global Hardware Security Modules Market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.

Some major companies operating in the global market include

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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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

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Global Hardware Security Modules Market Geographical Landscape - Synopsis:

The report closely studies the growth trajectory of the global Hardware Security Modules market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.

Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.

Key Benefits of Buying the Global Hardware Security Modules Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Hardware Security Modules Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Hardware Security Modules Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Hardware Security Modules Market

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