Hardware Security Modules Market Expected to Grow at a CAGR of 13% | Top Key Players are Gemalto NV (Amsterdam), Thales e-Security, Inc. (U.S.), Utimaco GmbH (Germany) and International Business Machines Corporation (U.S.)

Market Highlights

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.

Key Players

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.

Global Hardware Security Module (HSM) Market - Segmentation

Segmentation by Type: LAN-based HSM/network-attached HSM, PCIE-based/embedded plugins HSM and USB-based/portable HSM.
Segmentation by 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.
Segmentation by End user: 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.
Segmentation by Region: North America, Europe, Asia Pacific and Rest of the world.
Hardware Security Module (HSM) Market - Regional Analysis

Geographically, the hardware security module market is categorized as North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is likely to be the fastest growing region in the hardware security module market. Japan, China, and South Korea to witness to be major contributing region owing to increased inclination to strengthen cloud infrastructure. North America, the market for hardware security module is witnessing a mature market growth over the forecast period owing to early adoption of security modules in BFSI sector. Furthermore, Europe is likely to gain to have a significant growth rate in the market. The growth rate is attributed to increase in need to safeguard the databases in BFSI and retail sector.

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