Market Synopsis of Hardware Security Modules Market
A hardware security module can be defined as a dedicated crypto processor that is specifically designed for the protection of the crypto key lifecycle. It is basically a device that safeguards and manages strong authentication and crypto processing. It also act as anchors that protect the cryptographic infrastructure of some of the most security-conscious organizations by securely managing, processing, and storing cryptographic keys inside a hardened, tamper-resistant device.
Many firms buy this hardware security module to protect transactions, identities and applications because it helps in securing crypto graphic keys, authentication and digital signing services for a wide range of application.
The key drivers contributing to the growth of the Hardware Security Modules Market are increase in data breaches & cyber-attacks, mandates for hardware security modules manufacturers to comply with the internal & external privacy & data security regulations, and effective management of cryptographic keys.
Hardware security modules provides various functions such as life-cycle management which helps in lock and unlock access to digitized information and cryptographic processing produces dual benefits of isolating and off-loading cryptographic processing from application servers. However, high initial cost acts as a barrier for the hardware security module market.
Geographically, Latin-America accounted for the largest market share in the global hardware security module market whereas Asia-Pacific region is expected to grow at a fast pace over the forecast period 2016-2022.
The global Hardware Security Module Market is expected to reach USD 1115 million by the end of 2022 with ~13% CAGR during forecast period 2016-2022
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- 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.)
Regionally, Latin America accounted for the largest market share because of owing to the formulation of new regulatory compliances, the adoption of modern technologies such as cloud and IoT and also creating a huge opportunity for data and information security.
Asia-Pacific region is expected to grow over the forecast period, 2016-2022 especially in countries such as China and India countries because they are investing huge amount of money for security.
The Global hardware security module market has been segmented on the basis of type, application, end-users and region. By type, the market has been bifurcated into lan-based hsm/network-attached hsm, pcie-based/embedded plugins hsm and usb-based/portable hsm.
On the basis of application, the market can be segmented as payment processing, code and document signing, secure sockets layer (ssl) and transport layer security (tls), authentication, database encryption, pki or credential management, application-level encryption.
On the basis of end-users the market can be segmented into banking and financial services, government, technology and communications, industrial and manufacturing industry, energy and utilities, retail and consumer products, healthcare and life science, entertainment & media, education and transportation. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
On the basis of application, the market can be segmented into payment processing, code and document signing, secure sockets layer (ssl) and transport layer security (tls), authentication, database encryption, pki or credential management, application-level encryption. Out of these, authentication accounted for the largest market share because the usage of hardware security module for the authentication application can reduce fraud and protect users from internet attacks while shopping online.
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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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