openPR Logo
Press release

Hardware Security Module Market Size, Share & Forecast- 2032

01-23-2023 10:11 AM CET | IT, New Media & Software

Press release from: Future Market Insights, Inc

Hardware Security Module Market

Hardware Security Module Market

According to a report by Future Market Insights (FMI), the global hardware security module (HSM) market size is anticipated to grow at a CAGR of 16.2% during the forecast period from 2022 to 2032.

The report further states that the hardware security module market is set to reach a valuation of US$ 1.47 Bn by the end of 2022. Exponential rise in cyber breaches is resulting in the loss of confidentiality, integrity, and availability of crucial data. On account of that, companies have started focusing on the adoption of encryption management platforms that provide a high level of security to protect their infrastructure and data.

A hardware security module is a novel platform that is used to safeguard and manage cryptographic keys for strong authentication. It is also used to protect physical devices from threats that allow unauthorized access to an organization's systems.

By strengthening encryption processes, hardware security modules secure data, identities, and transactions within the network. Thus, enterprises worldwide are focusing on investing in HSMs to achieve higher levels of data security, mitigate risks, build customer trust, maintain high service levels, and achieve agility.

Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9275

Key Takeaways: Hardware Security Module Market

· By type, the USB-based/portable HSMs segment is expected to grow at a CAGR of 18.0% during the forecast period (2022-2032).

· In terms of application, the payment processing segment is anticipated to grow at a CAGR of 18.5% between 2022 and 2032.

· By sales channel, the distribution channel (integrators, distributors, and VARs) segment is projected to grow at a CAGR of 16.5% between 2022 and 2032.

· Based on industry, adoption of hardware security modules in the manufacturing sector is anticipated to grow at a CAGR of 18.4% in the upcoming decade.

· In Europe, the U.K. is likely to generate about 18.8% of the hardware security module market share in the evaluation period.

"Companies are adopting PCIe-based HSMs to protect online payment applications and credit card transactions. Ability of these HSMs to offer stronger centralized control via secure remote management, transmission, and backup is fueling demand in the market," says an FMI analyst.

Increasing Adoption of Digital Signatures to Open New Opportunities for Key Players

Many document-based processes in a wide range of industries require signatures. Physical signatures tend to slow down their operations as they are easily alterable, tampered with, and inconvenient in today's world.

A digital signature is generally viewed as safer than a physical signature that is used on a paper-based document. Digital signatures can authenticate electronic documents by providing data integrity and non-repudiation. They are considered to be the most convenient way to sign important documents such as contracts and invoices.

Hardware security modules are used to initiate digital signing by using long-term and short-term signature certificates. HSMs provide a safe environment required to generate and protect cryptographic keys that are needed to validate sensitive data. These help in saving costs and automating workflows while also ensuring document integrity and meeting compliances.

Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-9275

Competitive Landscape

To establish a strong foothold in the lucrative hardware security module market, key players are focusing on adopting various organic and inorganic strategies. They are mainly engaging in collaborations with local companies, new product launches, acquisitions, partnerships, as well as expansion of regional and global distribution networks to compete with their rivals.

In February 2022, Securosys and Randtronics established a strategic agreement to integrate the former's CloudsHSM portfolio with the data privacy manager (DPM) of Randtronics. Enterprises can use the hardware security module of Securosys with Randtronics' DPM to securely manage their cryptographic keys throughout their organizations.
Hardware Security Module Market Outlook by Category

By Type:

LAN-based HSMs/Network-attached HSMs
PCIe-based/Embedded Plugin HSMs
USB-based/Portable HSMs
By Application:

Payment Processing
Code and Document Signing
SSL and TLS
Authentication
Database Encryption
PKI or Credential Management
Application-Level Encryption
By Sales Channel:

Direct Sales Channel
Distribution Channel (Integrators, Distributors, VARs etc.)
By Industry:

BFSI
Healthcare & Life Sciences
Manufacturing
Retail & CPG
Government & Defense
Energy & Utilities
Others
By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)
Get Flat 30% Off on Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-9275

Contact Us:
Future Market Insights Inc.   
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA   
T: +1-845-579-5705   
For Sales Enquiries: sales@futuremarketinsights.com

About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Hardware Security Module Market Size, Share & Forecast- 2032 here

News-ID: 2895063 • Views:

More Releases from Future Market Insights, Inc

Non-OEM EV MRO Market to Surpass USD 1.3 Billion by 2035, Fueled by Independent Service Growth and Battery Innovation
Non-OEM EV MRO Market to Surpass USD 1.3 Billion by 2035, Fueled by Independent …
The Non-OEM EV MRO (Maintenance, Repair, and Overhaul) market is projected to undergo substantial growth, reaching USD 500.1 million by 2025 and expanding further to approximately USD 1.3 billion by 2035. This reflects a healthy compound annual growth rate (CAGR) of 10.2% over the forecast period. The key forces behind this expansion include the accelerating global penetration of electric vehicles (EVs), the rise of independent and specialized service providers outside
Bag-in-Box Market Size, CAGR, Sales Analysis & Opportunity | FMI
Bag-in-Box Market Size, CAGR, Sales Analysis & Opportunity | FMI
The bag-in-box market is estimated at US$ 3.3 Bn in 2022 and is projected to reach US$ 5.5 Bn by 2031, at a CAGR of 5.7% from 2022 to 2031. As per the FMI analysis, bag-in-box solutions having a capacity less than 5 Liters and 5 - 10 Liters are expected to account for around 58% of the total bag-in-box packaging products sold globally in 2022. The sales of bag-in-box packaging used

More Releases for HSM

Global Hardware Security Module (HSM) Market Size by Application, Type, and Geog …
USA, New Jersey- According to Market Research Intellect, the global Hardware Security Module (HSM) market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period. The hardware security module (HSM) market has experienced rapid growth due to the rising need for secure encryption and data protection across industries.
Hardware Security Modules (HSM) Market 2021 | Detailed Report
The research reports on “Hardware Security Modules (HSM) Market” report gives detailed overview of factors that affect global business scope. Hardware Security Modules (HSM) Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. An exclusive data offered in this report is collected by research and industry experts team. Complete Report Available
Securosys Primus HSM now Common Criteria EAL4+ certified
Zurich, 22 April 2021 Securosys, a leader in cybersecurity, encryption, and digital identity protection, is pleased to announce that Securosys' Primus Hardware Security Modules (HSM) have received the Common Criteria (CC) EAL4+ certification based on the eIDAS protection profile EN 419221-5, certificate number CC 1/21. This is in addition to the FIPS 140-2 Level 3 certification for the Primus HSM. This means that Primus HSM can now be
Hardware Security Modules (HSM) Market Size, Share, Development by 2024
Market Research Report Store offers a latest published report on Hardware Security Modules (HSM) Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. According to this study, over the next five years the Hardware Security Modules (HSM) market will register a 11.2% CAGR in terms of revenue, the global market size will reach US$ 1787.9 million by 2024, from US$ 1167.4
Global Hardware Security Modules (HSM) Market Insights, Forecast
This report presents the worldwide Hardware Security Modules (HSM) market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis Get sample copy of the report: https://www.marketdensity.com/contact?ref=Sample&reportid=51453 Table of Contents: 1 Study Coverage
Securosys Primus HSM App for Splunk® extends features of Splunk Enterprise plat …
The Securosys Primus Hardware Security Module (HSM) App for Splunk provides a user environment for immedi-ate and effective monitoring, analysis and visualization of Securosys Primus HSM devices and entire HSM clusters. The Splunk platform allows customers to import and index virtually all types of machine-generated data via a web-based interface and offers powerful search, monitoring and analysis capabilities. In addition, Splunk offers via the integration of apps and add-ons a