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Hardware Security Module (HSM) Market Value Is Estimated to Reach USD1951.14 MN By 2028, With 11.30% CAGR – Credence Research

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Hardware Security Module (HSM) Market Value Is Estimated to Reach USD1951.14 MN By 2028, With 11.30% CAGR – Credence Research

August 16
17:05 2022
Hardware Security Module (HSM) Market Value Is Estimated to Reach USD1951.14 MN By 2028, With 11.30% CAGR - Credence Research
The key players in the global hardware security module (HSM) market in terms of value and volume include Thales, Hewlett Packard Enterprise Development LP, Utimaco, Microchip Technology, International Business Machines Corporation, Securosys, Infineon Technologies, Spyrus, Futurex, Atos SE, SWIFT, and Yubico.

The latest market report published by Credence Research, Inc. “Global Hardware Security Module (HSM) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Hardware Security Module (HSM) Market generated revenue of around USD 1026.4 million in 2021 and is anticipated to grow a CAGR of over 11.30% during the forecast period from 2022 to 2028 to reach around USD 1951.14 million in 2028. At the same time, the cumulative growth opportunity presented by the global Hardware Security Module (HSM) is around USD 924.7363922 million during 2022 to 2028.

The world hardware security module (HSM) market is majorly driven by increased demand for IoT-based medical devices such as diagnostic imaging devices, cardiac monitors, respiratory monitors, hemodynamic monitors, and implant dynamics, which has positively supported the market growth. Moreover, the increasing geriatric population, rising life expectancy, and growing healthcare expenditure throughout the world have increased the demand for hardware security modules (HSM) is presumed to further drive the market demand in the coming years. In addition, the rising needs for effective management of cryptographic keys are some other major factors to drive the growth of the market during the forecast period.

The global hardware security module (HSM) market is bifurcated into Deployment Type, Application, Vertical, and Geography. Based on Deployment type, the market is categorized into on-premises and cloud. Based on Type, the global market is segmented into LAN based/network attached, PCI based/embedded plugins, USB based/portable, and smart cards. Based on the Application, the market is bifurcated as payment processing, code and document signing, authentication, application-level encryption, database encryption, and PKI and credential management. Based on the Verticals, the global market is segregated into consumer goods & retail, banking, financial services and insurance, aerospace, and defense, public sector/government, energy & power, industrial manufacturing, medical & life science, and transportation. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The HSM market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to be the largest market for HSM during the forecast period. This can be attributed to the early adoption of HSM solutions in the region and the presence of several large players in the region.

Major Driving Factors Hardware Security Module Market

The hardware security module (HSM) market is growing at a rapid pace due to the increasing need for data security and compliance with regulatory requirements. The major driving factors for the growth of this market are the increasing number of data breaches, stringent government regulations, and the growing adoption of cloud services.

HSMs are devices that provide a high level of security for data by encrypting and protecting information. They are used in a variety of applications such as banking, healthcare, and e-commerce. HSMs offer several benefits such as data protection, tamper resistance, and enhanced security.

The increasing number of data breaches is a major concern for organizations across the globe. These breaches can lead to loss of sensitive information, financial losses, and reputational damage. Thus, organizations are investing in HSMs to protect their data from these threats.

Government regulations such as the Payment Card Industry Data Security Standard (PCI DSS) and the Sarbanes-Oxley Act (SOX) have made it mandatory for organizations to implement security measures to protect customer data. This has increased the demand for HSMs as they offer a high level of security for data.

Want to know more? – https://www.credenceresearch.com/report/hardware-security-module-hsm-market

Major Restraints for Hardware Security Module Market

The major restraints for this market are the high cost of ownership and the lack of awareness about HSM technology among small and medium enterprises (SMEs).

The high cost of ownership is one of the major restraints for the global Hardware Security Module market. The cost of ownership includes the license fee, maintenance fee, and support fee. These costs are generally higher for HSMs than for software-based security solutions. As a result, SMEs, which have limited budgets for information security, are reluctant to invest in HSMs.

The lack of awareness about HSM technology is another major restraint for the market. SMEs, in particular, are not aware of the benefits of using HSMs and are often reluctant to invest in new technologies. This lack of awareness is a key challenge for vendors operating in the global HSM market.

Why Buy This Report-

  • The report provides a qualitative as well as quantitative analysis of the global hardware security module (HSM) market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
  • The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
  • In-depth analysis of the global market segmentation on the basis of deployment type, Type, verticals, and application.
  • Major countries in each region with their consumption statistics
  • The global hardware security module (HSM) market report also includes the analysis of the market at a global, regional, and country level, along with key market trends, major player’s analysis, market growth strategies, and key application areas.

Table Of Content:

1. Preface

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. Target Audience

1.1.3. USP and Key Offerings

1.2. Research Scope

1.3. Research Methodology

1.3.1. Phase I – Secondary Research

1.3.2. Phase II – Primary Research

1.3.3. Phase III – Expert Panel Review

1.3.4. Approach Adopted

1.3.4.1. Top-Down Approach

1.3.4.2. Bottom-Up Approach

1.3.5. Assumptions

1.4. Market Segmentation

2. Executive Summary

2.1. Market Snapshot: Global Hardware Security Module (HSM) Market

3. Market Dynamics & Factors Analysis

3.1. Introduction

3.1.1. Global Hardware Security Module (HSM) Market Value, 2016-2028, (US$ Bn)

3.2. Market Dynamics

3.2.1. Key Growth Trends

3.2.2. Major Industry Challenges

3.2.3. Key Growth Pockets

3.3. Attractive Investment Proposition,2021

3.3.1. Type

3.3.2. Application

3.3.3. Deployment type

3.3.4. Vertical

3.3.5. Geography

3.4. Porter’s Five Forces Analysis

3.4.1. Threat of New Entrants

3.4.2. Bargaining Power of Buyers/Consumers

3.4.3. Bargaining Power of Suppliers

3.4.4. Threat of Substitute Types

3.4.5. Intensity of Competitive Rivalry

3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021

4.1. Company market share of key players, 2021

4.2. Top 6 Players

4.3. Top 3 Players

4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis

5.1. Global Hardware Security Module (HSM) Market Pre Vs Post COVID 19, 2019 – 2028

5.2. Impact on Import & Export

5.3. Impact on Demand & Supply

6. North America

6.1. North America Hardware Security Module (HSM) Market, by Country, 2016-2028(US$ Bn)

6.1.1. U.S.

6.1.2. Canada

6.1.3. Mexico

6.2. North America Hardware Security Module (HSM) Market, by Type, 2016-2028(US$ Bn)

6.2.1. Overview

6.2.2. LAN Based/ Network Attached

6.2.3. PCI-Based/ Embedded Pluggins

6.2.4. USB Based/ Portable

6.2.5. Smart Cards

6.2.6. Others

6.3. North America Hardware Security Module (HSM) Market, by Application, 2016-2028(US$ Bn)

6.3.1. Overview

6.3.2. Payment Processing

6.3.3. Code and Document Signing

6.3.4. Authentication

6.3.5. Application-level encryption

6.3.6. Database Encryption

6.3.7. PKI and Credential Management

6.3.8. Security Sockets Layer (SSL) and Transport Security Layer (TSL)

6.3.9. Others

6.4. North America Hardware Security Module (HSM) Market, by Deployment type, 2016-2028(US$ Bn)

6.4.1. Overview

6.4.2. On-premise

6.4.3. Cloud

6.5. North America Hardware Security Module (HSM) Market, by Vertical, 2016-2028(US$ Bn)

6.5.1. Overview

6.5.2. Consumer Goods & Retail

6.5.3. BFSI

6.5.4. Aerospace & defense

6.5.5. Public Sector/ Government

6.5.6. Energy and Power

6.5.7. Industrial Manufacturing

6.5.8. Medical and Life Sciences

6.5.9. Transportation

6.5.10. Others

7. Europe

……….

8. Asia Pacific

……….

9. Latin America

……….

10. Middle East

……….

11. Africa

……….

12. Global

12.1. Global Hardware Security Module (HSM) Market, by Type, 2016-2028(US$ Bn)

12.1.1. Overview

12.1.2. LAN Based/ Network Attached

12.1.3. PCI-Based/ Embedded Pluggins

12.1.4. USB Based/ Portable

12.1.5. Smart Cards

12.1.6. Others

12.2. Global Hardware Security Module (HSM) Market, by Application, 2016-2028(US$ Bn)

12.2.1. Overview

12.2.2. Payment Processing

12.2.3. Code and Document Signing

12.2.4. Authentication

12.2.5. Application-level encryption

12.2.6. Database Encryption

12.2.7. PKI and Credential Management

12.2.8. Security Sockets Layer (SSL) and Transport Security Layer (TSL)

12.2.9. Others

12.3. Global Hardware Security Module (HSM) Market, by Deployment type, 2016-2028(US$ Bn)

12.3.1. Overview

12.3.2. On-premise

12.3.3. Cloud

12.4. Global Hardware Security Module (HSM) Market, by Vertical, 2016-2028(US$ Bn)

12.4.1. Overview

12.4.2. Consumer Goods & Retail

12.4.3. BFSI

12.4.4. Aerospace & defense

12.4.5. Public Sector/ Government

12.4.6. Energy and Power

12.4.7. Industrial Manufacturing

12.4.8. Medical and Life Sciences

12.4.9. Transportation

12.4.10. Others

13. Company Profiles

13.1. Thales

13.2. HP

13.3. Utimaco

13.4. Microchip Technology

13.5. IBM

13.6. Securosys

13.7. Infineon Technologies

13.8. Spyrus

13.9. Futurex

13.10. Atos SE

13.11. SWIFT

13.12. Yubico

13.13. Others

 ……………

Get more detailed insights on the world’s hardware security module market: https://www.credenceresearch.com/report/hardware-security-module-hsm-market

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