Hardware Security Modules Market 2018 Historical Analysis, Global Opportunities, Development Strategy and Forecast Report Basics: Definitions, Classifications, Applications And Industry Overview 2023

Market Research Future
Market Research Future published a research report on “Global Hardware Security Modules Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Market Scenario:

A hardware security module (HSM) is a dedicated crypto processor device designed to protect, manage and process digital crypto keys, with strong authentication. It is a hardened, tamper-resistant plug-in card or an external device which attaches directly to a computer or network server and used by security conscious organizations. The global hardware security module market is anticipated to grow at a CAGR of 13 % during the forecast period of 2016 to 2022.

Market Dynamics:

Drivers

The growing cases of data security breaches, cyber-attacks has mandated the adoption of hardware security modules. The development of antecedents such as increased deployment of web and cloud based applications, growing ecommerce and payment card industry, remote access, and growing density of intellectual property and concurrent cases of industrial espionage are strong driving factors of the market.

These drivers have been compounded by growing stringency of compliance and regulatory requirements, emergence of internet of things (IoT), social messaging apps etc. Thus in general growing dependence on I.T. systems, has resulted in acute growth of needs of data responsibility, authentication, data integrity and nonrepudiation. The investment climate is enthusiastic owing to the scalable and repeatable nature of the business.

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Restraints

High investment and maintenance costs acts and the deliberate subverting of cryptography standards by intelligence agencies are barrier for the hardware security module market.

Key Players

The key players of global Hardware Security Module Market report include Gemalto NV (Amsterdam), Thales e-Security, Inc. (U.S.), Utimaco GmbH (Germany), International Business Machines Corporation (U.S.), FutureX (U.S.), Hewlett-Packard Enterprise Development LP (U.S.) SWIFT (Belgium), Atos SE (France), Ultra-Electronics (U.K.), Yubico (U.S.) and others.

Regional Analysis:

North America accounted for the largest share of the market owing to highly developed ecommerce and financial sector, and economic clout. Latin America is another market to watch out for owing to development of ecommerce and growing trade with the U.S.

Europe is led by the U.K., Germany and France. Although the developed regions have a first comer advantage over the developing, the market is expected to shift in favor of the developing regions of Asia Pacific especially China, and India. The formulation of new regulatory compliances, growing adoption of e-commerce and online transactions, growing adoption of cloud and IOT in these regions are the drivers of the market.

The Middle East and Africa market is dominated by the cash rich Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.

Segments:

To generate an accurate understanding of the global hardware security module market the report has been segmented by type, application, end-users and region.

On the basis of type, the market has been sub segmented into PCIE-based/embedded plugins HSM, LAN-based HSM/network-attached HSM, and USB-based/portable HSM.

Based on application, the market is sub segmented into authentication, database encryption, payment processing, code and document signing, PKI or credential management, secure sockets layer (SSL) and transport layer security (TLS),  application-level encryption and others. Authentication accounted for the largest market share of the market by applications in 2016.

Based on end-users, the market is sub segmented into industrial and manufacturing industry, energy and utilities, banking and financial services, healthcare and life science, government, technology and communications, retail and consumer products, entertainment & media, education and transportation. Based on regions, the market is sub segmented into North America, Europe, Asia Pacific and rest of the World.

Market Trends:

Portability is a strong market strategy in the global hardware security module market owing to advantages such as ease of deployment and is demonstrated by the rapid growth of the USB-based/portable HSM devices.

Increasing functionality such as built-in PKI, key backup facility and development of level IV security systems.

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Intended Audience

  • Hardware security module Manufacturers
  • Distributors
  • Research firms
  • Consultancy firms
  • Software Developers
  • Vendors
  • Semiconductor Manufacturers
  • Stakeholders
  • End-user sectors
  • Technology Investors

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