Hardware Security Modules Market Analysis 2023-2032 Global Trends, Future Scope, Recent Development And Major Players | Thales e-Security Inc., Utimaco GmbH, International Business Machines Corporation, FutureX LP, Yubico Inc

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The Business Research Company's Hardware Security Modules Global Market Report 2023 identifies An increase in data breaches and cyberattacks as the major driver for the Hardware Security Modules Market's growth in the forecast period. A cyber attack is an attempt to illegally access a computer system or a computer network to cause damage, whereas a data breach occurs when data is stolen or extracted from a system without the owner's knowledge or authorization. The hardware security module (HSM) is a physical device that protects data against both logical and inherent security threats. It is meant to keep data and information safe and secure by providing built-in vulnerability protection. Furthermore, the growing acceptance of digital payments has favored an increase in cyberattacks and data-breaching activities, thus increasing demand for hardware security modules.

The global hardware security modules market size is expected to grow from $1.34 billion in 2022 to $1.53 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hardware security module market size is expected to reach $2.61 billion in 2027 at a CAGR of 14.3%.

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Major competitors in the hardware security modules market are Thales e-Security Inc., Utimaco GmbH, International Business Machines Corporation, FutureX LP, Yubico Inc., SWIFT, ATOS SE, Ultra-Electronics Holdings Plc., Entrust Corporation, Hewlett-Packard Enterprise Development LP, Securosys SA, Infineon Technologies AG, Ledger & Spyrus Inc., Exceet Secure Solutions GmbH, and Jisa Softech.

A key trend in the Hardware Security Modules Market includes Product innovation. Major companies operating in the hardware security module market are focused on developing innovative products to strengthen their position. For instance, in February 2022, Thales Group, a France-based technology company that creates, designs, and produces electrical systems and aircraft gadgets, launched a new IoT connection solution ELS62. It has better reliability and security for smart devices, simplifying enterprises' digital transition. It combines moderate technology for simplifying design, streamlining development, and reducing time-to-market for IoT products. The product offers different connectivity alternatives and high cybersecurity for IoT devices, along with security measures that safeguard both the device and data by ensuring resilience against cyberattacks, strong device authentication, and data encryption.

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The Hardware Security Modules Market is segmented -
By Type: LAN Based/ Network Attached, PCI-Based/ Embedded Plugins, USB Based/ Portable, Smart Cards
By Deployment Type: On-Premise, Cloud
By Application: SSL (Secure Sockets Layer), TSL (Transport Layer Security), Authentication, Payment Processing, Code And Document Signing, Application-Level Encryption, Database Encryption, Public Key Infrastructure (PKI), Credential Management
By End-User: Banking And Financial Services, Energy And Utility, Retail And Consumer Products, Government Technology And Communication, Industrial And Manufacturing, Healthcare, Life Sciences
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Hardware Security Modules Market.

The Business Research Company's "Global Hardware Security Modules Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Hardware Security Modules Market Include:
1. Executive Summary
2. Hardware Security Modules Market Characteristics
3. Hardware Security Modules Market Trends And Strategies
4. Hardware Security Modules Market - Macro Economic Scenario
5. Hardware Security Modules Market Size And Growth
……
26. Africa Hardware Security Modules Market
27. Hardware Security Modules Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hardware Security Modules Market
29. Hardware Security Modules Market Future Outlook and Potential Analysis
30. Appendix

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