Hardware Security Modules Market: Insights and Trends for the Future

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Increasing focus on data security in cloud is a key factor driving hardware security modules market revenue growth

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, according to latest analysis by Emergen Research. 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. 

The market intelligence report delivers a profound study of the Hardware Security Modules business domain, discussing its principal aspects, such as the import export dynamics, production, consumption, sales channels, and consumer bases in the major regional segments. The latest research report expounds on the profound impact of the COVID-19 pandemic on the global Hardware Security Modules market and its crucial segments. The report thoroughly examines the vital market-influencing factors and considers the COVID-19 pandemic as a major contributing element to this business vertical’s potential downturn.

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Key companies operating in the Hardware Security Modules market include:

IBM Corporation, Thales Group, Utimaco Safeware., Atos SE, STMicroelectronics, Microchip Technology Inc., Hewlett Packard Enterprise, Gemalto NV, QLogic Corporation, and Futurex LP.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Hardware Security Modules market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Key Benefits of the Report:

  • Comprehensive analysis of the competitive scenario and its changing dynamics
  • Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
  • In-depth 8-year analysis of the Global Hardware Security Modules Market
  • Critical understanding of the key market segments
  • Comprehensive analysis of the drivers, restraints, trends, and opportunities
  • Detailed regional analysis and extensive company profiling
  • Extensive assessment of current and emerging trends of the market

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Hardware Security Modules Market Segmentation:

  • 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

 

Hardware Security Modules Market Segmentation by Regions:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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