Hardware Security Modules Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global hardware security modules market is anticipated to grow at a CAGR of 11.1% during the forecast period (2023-2030). An increased demand for hardware security modules owing to growing concerns about data security and compliance with data protection regulations, such as GDPR and HIPAA. The integration of hardware security modules with emerging technologies like blockchain and IoT drives the growth of the market. HSMs, which offer tamper-resistant hardware-based security solutions, have emerged as a vital component in protecting data and ensuring the integrity and confidentiality of sensitive information.

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The numerous communication channels create new attack surfaces increasing the vulnerability of the systems. Comprehensive security concepts are therefore becoming more important to support the safety of passengers and the protection of their data. For instance, in October 2021, Infineon Technologies AG launched SLS37 V2X hardware security module to safeguard vehicle communication. With trends such as electrification, autonomous driving and connected cars, the number of communication interfaces in vehicles is growing - whether wired or wireless.

Various on-premises payment HSM deployments globally, the new service offers rapid deployment, improved flexibility, and seamless integration with leading cloud providers. For instance, in August 2023, Thales launched Thales payShield Cloud HSM, a subscription-based digital payments security service built on its market-leading payShield 10K Payment Hardware Security Module (HSM) technology to help customers accelerate the adoption of cloud-based payments infrastructure. The payShield Cloud HSM service can be used in hybrid deployments, enabling existing customers to move any application to the cloud at their own pace while avoiding disruption to their on-prem HSM infrastructure.
Hardware security modules provides the quantum-safe cryptographic agility, mobility, and scalability needed to keep up with rapid advances in technology, ensures true ownership of cryptographic material without vendor lock in, and supports flexible cloud-scale deployment architectures. For instance, in May 2023, Crypto4A Technologies Inc. launched QxHSM™ an industry first fifth-generation Hardware Security Module (HSM) in a revolutionary modular blade form factor that provides operational efficiencies and a lower total cost of ownership.

Market Coverage

• The market number available for - 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
o By Application
o By End Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Atos SE, IBM Corp., Infineon Technologies AG., Thales, Utimaco Management GmbH, Yubico and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Hardware Security Modules Market Report Segment

By Type

• LAN Based
• PCIE Based
• USB Based

By Application

• Payment Processing
• Code and Document Signing
• Secure Sockets Layer (SSL)
• Transport Layer Security (TLS)
• Authentication
• Database Encryption
• Credential Management

By End Users

• BFSI
• IT & Telecommunications
• Consumer Goods & Retail
• Aerospace & Defence
• Public Sector/ Government
• Energy and Power
• Others (Industrial Manufacturing, Medical and Life Sciences)

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Hardware Security Modules Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Adweb Technologies
• ellipticSecure
• ETAS
• Fortanix
• Futurex
• Infineon Technologies AG.
• JISA Softech Pvt. Ltd.
• Lattice Semiconductor
• Ledger SAS
• Microchip Technology Inc.
• Sansec
• Securosys SA
• STMicroelectronics

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