A recent report published by
Infinium Global Research on the hardware security module market provides
in-depth analysis of segments and sub-segments in the global as well as
regional hardware security module market. The study also highlights the impact
of drivers, restraints, and macro indicators on the global and regional
hardware security module market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of
the global hardware security module market. According to the report, the global
hardware security module market is projected to grow at a CAGR of 12.20% over
the forecast period of 2021-2027.
Market Insight
The global hardware security module
market was sized near USD 1076 million in 2021 which is expected to grow to USD 2147 million in 2027. The global hardware security
module market is projected to grow with a CAGR of 12.20% during 2021-2027. A
physical computing system that safeguards and administers digital keys,
performs digital signature encryption and decryption functions, fast
authentication, and other cryptographic functions is known as a hardware security
module (HSM). Furthermore, such modules come in the form of a plug-in card or
an external unit that is directly connected to a computer or network server and
organizations need it. Moreover, organizations also require hardware security modules
to maintain customer trust in the digital world to ensure complete cyber-attack-proof security. Hence there is a huge demand for hardware security modules, which
started with the banking and financial institutions. Additionally, banking and
financial institutions need hardware security module to protect the payment
process through credit and debit cards and major companies including Mastercard
and Visa highly demands hardware security module (HSM).
The primary factors which are
driving the growth of the Hardware Security Module (HSM) Market are the rising
requirement for effective management of cryptographic keys, increasing concerns
about data protection in all data-sensitive companies, and the growing popularity
of the Internet of Things (IoT). Furthermore, rising demand for devices and
technologies that can stop cyber-attacks, data breaches, online banking,
digital payments (like PayPal), communications, healthcare, life sciences,
cloud-based services, and cryptocurrency has skyrocketed in recent years and growing
data security concerns in all the data-sensitive companies worldwide are
another factors which are propelling the growth of Hardware Security Module
(HSM) Market over the forecast period. On the other hand, higher costs
associated with hardware security modules and no standardization in the
industry are major factors that are restraining the growth of the market over the forecast period. Nevertheless, rising demand for data security in cloud
environments and companies investing millions to develop a new generation of
modules are projected to provide lucrative opportunities to the Hardware
Security Module (HSM) Market.
North America, is expected to
dominate the Hardware Security Module (HSM) Market by holding the largest share of
the market owing to better-developed Internet infrastructure and a higher
prevalence of digital companies that need to use various hardware security
module services in the region. Furthermore, the European market for hardware
security modules is also expected to reach new heights owing to the growth of 4G LTE
technology in the region and ongoing developments and smaller deployments of 5G
infrastructure in the European region. Moreover, Asia Pacific is projected to
witness exponential growth in Hardware Security Module (HSM) Market Hardware
Security Module (HSM) Market during the forecast period owing to growing
internet penetrations in developing countries like India and China.

Segment Covered
The report on the global hardware
security module market covers segments such as type, deployment mode, application,
and end use. On the basis of type, the sub-markets include LAN-based HSM, PCIe-based,
and USB-based. On the basis of deployment mode, the sub-markets include on
premise, and cloud. On the basis of application, the sub-markets include
payment processing, code and document signing, and authentication. On the basis
of end use, the sub-markets include government, energy and utilities, and
healthcare.
Companies Profiled:
The report provides profiles of
the companies in the market such as Gemalto NV, Thales e-Security, Inc.,
Utimaco GmbH, International Business Machines Corporation, FutureX,
Hewlett-Packard Enterprise Development LP, Atos SE, Ultra Electronics, and
Yubico.
Report Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the hardware security module market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.