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.
The global hardware security module market is assessed to witness a vigorous development during the forecast period 2016-2022, reveals Market Research Future in its in-depth study it conducted. The study also included various factors, segmental analysis, as well as regional analysis to understand the future dynamics of the market and its growth graph.
Growth Drivers & Key Challenges
The alluring benefits offered by the hardware security module, such as protection of the crypto key lifecycle, safeguarding, managing, are considered the major factors driving the market towards a growth graph. At present, many firms and businesses are strongly favoring hardware security to shield all types of transactions, identities, and applications. These functions are active as it assists in securing cryptographic keys, authentication, and digital signing services for a wide range of applications. These factors are taking the market to the levels of expansion in the coming years.
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At the same time, other key drivers contributing to the growth of the hardware security modules market are a surge in data breaches & cyber-attacks, ongoing mandate options for hardware security module manufacturers to conform with the internal & external privacy & data security regulations, and effective management of cryptographic keys. These have to influence the market to a great extent for past years and will continue with proliferation during the forecast period.
On the flip side, the factor of the high initial cost is, in a way, posing as an obstacle for the hardware security module market growth scheduled in the forecast period.
The key players of global Hardware Security Modules 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.
Hardware Security Modules Market Global Market – Segmentation
The global hardware security module market, as per the study, has been segmented by the elements of type, application, and end-users.
- In terms of type: Lan-based HSM/network-attached HSM, PCIe-based/embedded plugins HSM and USB-based/portable HSM are the segments.
- In terms of application: Payment processing, code and document signing, secure sockets layer (SSL) and transport layer security (tls), authentication, database encryption, PKI or credential management, application-level encryption are the elements.
- In terms of end-users: Banking and financial services, government, technology, and communications, industrial and manufacturing industry, energy and utilities, retail and consumer products, healthcare and life science, entertainment & media, education, and transportation are the segments.
Hardware Security Modules Market Global Market – Regional Analysis
Regionally, the global market of hardware security module has been studied among crucial regions, namely North America, Europe, Asia-Pacific, and RoW.
Among these, Latin America occupied the leading market share due to various factors such as the formulation of new regulatory compliances, rapid adoption of modern technologies such as cloud and IoT. These are simultaneously creating a massive opportunity for data and information security in this region for future expansion.
Asia-Pacific region is also anticipated to expand over the forecast period, 2016-2022, mainly in countries such as China and India countries as the key players in this region are investing a tremendous amount of money for security.
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- Hardware security module Manufacturers
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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