iCrowdNewswire Dec 31, 2020 7:13 PM ET
Hardware Security Modules Market – Overview
Hardware security modules (HSMs) is a device that safeguards and manages authentication, crypto processing and provides security for sensitive data. In businesses, HSMs protects transactions, identities and applications as it helps in securing crypto graphic keys, authentication and digital signing services for a wide range of applications. Moreover, it is used to secure trade secrets, ensuring that only authorized individuals can access the HSMs to complete a cryptography key transaction. Also, multiple HSMs can be used together to provide public key management without slowing down applications. HSMs can be integrated in any application that uses digital keys to secure the sensitive data. In enterprises, HSMs protects public key infrastructures (PKIs), virtual environments and cloud architectures. In public key infrastructure (PKI) environment, HSMs is used by registration authorities (RAs) and certification authorities (CAs) for securing applications and manufacturing the next generation of PKI. Also, it is used to protect identities, applications, transactions and data in new technologies. Additionally, in banking sector, HSM is used to perform tasks such as PIN calculations or payment protocols.
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According to MRFR, global Hardware Security Modules Market is expected to show significant growth during the forecast period. Growing security concern owing to increase in data breaches and cyberattacks is one of the major factors encouraging businesses to implement HSM in their operations. Moreover, proliferation of HSMs in small and medium enterprises for data security in the cloud environment is expected to fuel the growth of hardware security modules market in the coming years. Additionally, HSM can be stored in safe place and can be transported from one place to another when needed, thus the demand for USB-based or portable HSMs is increasing, thereby boosting the growth of this market. Also, the emergence of electronic payments, digital transactions and the growing need to protect highly sensitive financial data from potential security threats is driving the growth of this market. However, high cost associated with HSM hampering the growth of the market. Many key players such as Gemalto NV, Thales e-Security, Inc., Utimaco GmbH, International Business Machines Corporation, Hewlett-Packard Enterprise Development LP among others are following the strategy of collaborating with software solution providers to provider security solutions to their customers.
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.
Hardware Security Modules Market Global Market – Segmentation
- Segmentation by type: LAN-based HSM/network-attached HSM, PCIe-based/embedded plugins HSM and USB-based/portable HSM
- Segmentation by deployment: cloud and on-premises
- 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 and application-level encryption
- Segmentation by industry vertical: BFSI, government, technology and communications, industrial and manufacturing industry, energy and utilities, retail, healthcare and life Science and others
- Segmentation by region: North America, Europe, Asia-Pacific and rest of the world
Hardware Security Modules Market Global Market – Regional Analysis
The regional analysis of hardware security modules market is studied for North America, Europe, Asia-Pacific and rest of the world. North America is expected to dominate the hardware security modules market due to rising deployment of HSMs device for various applications in the organizations operating in this region, particularly in the US. Moreover, North America being a technically advanced region, focuses on improving their security infrastructure to protect data from malicious attacks, hence the demand for HSMs in this region is increasing significantly. Asia-Pacific is expected to be the fastest growing region during the forecast period as the countries in this region are increasingly adopting modern technologies such as cloud and IoT, thereby creating huge opportunity for data and information security.
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- Hardware security module Manufacturers
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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