openPR Logo
Press release

Hardware Security Modules Market Forecasted to Hit US$ 3.7 Bn by 2031 - Persistence Market Research

02-19-2025 10:28 AM CET | IT, New Media & Software

Press release from: Persistence Market Research

Hardware Security Modules Market

Hardware Security Modules Market

The global Hardware Security Modules (HSM) market is poised for significant growth, projected to expand from US$ 1.4 billion in 2024 to US$ 3.7 billion by 2031, registering a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period. This surge is driven by escalating cybersecurity threats, stringent regulatory requirements, and the widespread adoption of advanced technologies such as cloud computing and the Internet of Things (IoT).

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): https://www.persistencemarketresearch.com/samples/34792

Introduction

Hardware Security Modules are specialized devices designed to safeguard and manage digital keys, perform encryption and decryption functions, and ensure the integrity of cryptographic operations. They are integral to securing sensitive data across various industries, including banking, financial services, government, and healthcare. As cyber threats become more sophisticated, the demand for robust security solutions like HSMs has intensified.

Market Dynamics

Drivers

Increasing Cybersecurity Threats: The rise in data breaches and cyber-attacks has heightened the need for advanced security measures. HSMs provide a hardware-based approach to encryption, offering enhanced security compared to software-based solutions.

Regulatory Compliance: Governments and regulatory bodies worldwide have implemented stringent data protection laws, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA). Organizations are adopting HSMs to comply with these regulations and protect sensitive information.

Adoption of Emerging Technologies: The proliferation of cloud computing, IoT devices, and digital payment systems has expanded the attack surface for cyber threats. HSMs play a crucial role in securing these technologies by providing reliable key management and encryption services.

Restraints

High Initial Investment: The deployment of HSMs involves significant upfront costs, including hardware acquisition and integration expenses, which may deter small and medium-sized enterprises (SMEs) from adoption.

Complexity of Integration: Integrating HSMs into existing IT infrastructures can be complex and may require specialized expertise, posing challenges for organizations with limited technical resources.

Market Segmentation

By Type

General Purpose HSMs: Versatile devices used across various applications, including data encryption, digital signatures, and key management.

Payment HSMs: Specialized for securing payment transactions, these HSMs are widely used in the banking and financial services sector to protect cardholder data and facilitate secure payment processing.

HSM as a Service (HSMaaS): Cloud-based solutions offering HSM functionalities on a subscription basis, providing scalability and flexibility for organizations.

By Application

Banking and Financial Services: Utilizing HSMs for securing online banking, ATM operations, and payment gateways to protect against fraud and data breaches.

Government: Employing HSMs to secure national identification programs, e-passports, and confidential communications.

Industrial and Manufacturing: Implementing HSMs to protect intellectual property, secure communications, and ensure the integrity of industrial control systems.

Others: Including healthcare, telecommunications, and retail sectors where HSMs are used to protect sensitive data and transactions.

Regional Analysis

North America
North America is expected to command a significant share of over 35.3% in the HSM market by 2024. This growth is fueled by the region's unwavering commitment to cybersecurity and the enforcement of rigorous regulatory standards. As organizations increasingly adopt advanced technologies such as cloud computing, IoT, and digital payment systems, the need for robust security measures intensifies, driving the demand for HSMs.

Europe
Europe's HSM market is driven by stringent data protection regulations, notably the GDPR, which mandates robust security measures for data handling. Industries such as banking, healthcare, and government are significant adopters of HSMs to ensure compliance and data security.

Asia-Pacific
The Asia-Pacific region is witnessing rapid growth due to increasing digitalization and the expansion of the financial sector. Countries like China and India are investing heavily in cybersecurity infrastructure, leading to a surge in HSM adoption across various industries.

Latin America and Middle East & Africa
These regions are gradually recognizing the importance of data security, with governments implementing regulations to protect sensitive information. The adoption of HSMs is expected to grow as organizations in these regions prioritize cybersecurity measures.

Competitive Landscape

The HSM market is characterized by the presence of several key players focusing on innovation and strategic partnerships to enhance their market position. Companies are investing in research and development to introduce advanced HSM solutions that cater to the evolving security needs of various industries.

Future Outlook

The HSM market is anticipated to experience robust growth, driven by the increasing need for data security, compliance with regulatory standards, and the adoption of emerging technologies. Organizations are expected to invest in advanced HSM solutions to protect sensitive information and maintain trust in digital transactions.

Conclusion

As cyber threats continue to evolve, the importance of robust security measures cannot be overstated. Hardware Security Modules offer a reliable solution for organizations seeking to protect sensitive data and comply with regulatory requirements. The projected growth of the HSM market underscores the critical role these devices play in the modern digital landscape.

Explore the Latest Trending "Exclusive Article" @
https://hackmd.io/@ifI0088USW246Rx9PbLRMQ/rJtP0fDtx
https://www.quora.com/profile/Aishwarya-Nagur-1/Key-Players-Dominating-the-Airport-Runway-FOD-Detection-Systems-Market-The-aviation-industrys-unwavering-commitment-to
https://statisticalinsight.blogspot.com/2025/02/growth-opportunities-in-airport-runway.html
https://insightinnovators.wordpress.com/2025/02/11/trends-shaping-the-airport-runway-foreign-object-debris-detection-systems-market-in-2025/
https://medium.com/@aishwaryanagur6/71ff4c403213

Contact Us:
Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

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 Modules Market Forecasted to Hit US$ 3.7 Bn by 2031 - Persistence Market Research here

News-ID: 3876138 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


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