Hardware Security Module (HSM) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Rising Cyber Attacks across the Globe Has Increased the Demand for Hardware Security Module (HSM) Market

Globally, the hardware security module (HSM) market is expected to grow with a CAGR of 13.30% during the forecast period from 2021 to 2029 and had registered a market value of US$ 917.8 Mn by 2020. A hardware security module (HSM) is defined as a dedicated crypto processor, which is designed for a secure crypto key lifecycle. Hardware security modules protect the cryptographic infrastructure of various organizations globally by managing and processing the data securely, tamper-resistant devices and also stores cryptographic keys inside a hardened.

The companies and organizations are adopting the hardware security module for protecting various information such as transactions, applications, identities, and other confidential data. With the advancement in technology, there has been a boom in digitalization globally, which resulted in the utilization of the internet for the sharing of information. This advancement globally has also increased the risk of cyber-attacks and breaches, which is considered as one of the factors for the growth of the HSM market globally. AS HSM allows companies and organizations to protect their data from breaches and cyber-attacks.

Hardware Security Module (HSM) with Network-Attached HSM in its Type Segment Continue Dominating the Market

In 2020, the overall HSM market is lead by the network-attached HSM segment dominated the global market with a market share of more than 30.0% and is expected to grow with a significant CAGR during the forecast period. The network-attached HSM is one of the earliest types of model which is being used by various organization and companies as these type of HSM are easily integrated and offers a secure path for transmission of data. However, USB-Based HSM is expected to be the fastest-growing segment during the forecast period.

North America Dominates the Market by Region

The global hardware security module (HSM) market was led by North America with a market share of more than 30.0% in the year 2020. The region is one of the earliest adopters of the technology and the increasing number of security regulators in the region that leads to driving the market. Moreover, increasing cyber-attacks and data breaches are a major factor in the adoption of HSM in the region. US accounts for the largest market share in the region due to the presence of various BFSI, IT and e-commerce companies that faces the issues of security breaches.

Some of the prominent players operating in the hardware security module (HSM) are Thales E-Security Inc., Gemalto NV, Utimaco GmbH, Futurex, International Business Machines Corporation, Ledger, Hewlett Packard Enterprise Company, Yubico, ATOS SE, Ultra Electronics, Securosys Sa, Swift, Cardcontact Systems GmbH, Ledger, and Spyrus, Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of the hardware security module (HSM) in 2020 and forecast up to 2029?
• Which is the largest regional market network-based HSM in its type segment?
• What are the major trends followed in the hardware security module (HSM) market across different regions?
• Who is the key hardware security module (HSM) companies leading the market?
• What are the key strategies adopted by the leading hardware security module (HSM) companies in the market?

Unique data points of this report

• Statistics on hardware security module (HSM) penetration and spending worldwide
• Recent trends across different regions in terms of adoption of hardware security module (HSM).
• Notable developments going on in hardware security module (HSM) market
• Attractive investment proposition for segments as well as geography
• The comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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