The global Hardware Security Modules (HSMs) market size reached USD 1.22 Billion in 2021 and is expected to register a revenue CAGR of 11.8% during the forecast period, according to latest analysis by Emergen Research. Increasing focus on data security in cloud is a key factor driving market revenue growth.
Data security has been a major concern in information technology. It becomes especially crucial in cloud computing environment because data is stored in multiple locations, even across the globe. The biggest concern for users regarding cloud technology is data security and privacy protection, which creates high demand for hardware security modules. Cloud HSM is a Hardware Security Module (HSM) service hosted in cloud that allows users to store encryption keys and execute cryptographic operations in a cluster. Various companies are offering Cloud HMS services, for example, Amazon Web Services (AWS) Cloud HSM is a cloud-based Hardware Security Module (HSM) that allows users to quickly produce and use their own encryption keys on Amazon Web Services Cloud. Increasing concerns for data security in cloud is expected to drive revenue growth of the market during the forecast period.
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Rising cyber-attacks and data breaches across the globe create high demand for hardware security modules among organizations. Advancement of new technologies, such as Internet of Things (IoT), and Artificial Intelligence (AI), makes most businesses vulnerable to cyber-attacks. According to a study, between June 2020 to June 2021, the transportation industry has faced 186% increase in weekly ransomware attacks.
The global Hardware Security Modules Market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Hardware Security Modules Market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
World’s Leading Companies in the Hardware Security Modules Market: Top 10 by Revenue
Microchip Technology Inc.,
Hewlett Packard Enterprise,
QLogic Corporation, and
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Emergen Research has segmented global hardware security modules market on the basis of type, deployment type, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Deployment Type Outlook (Revenue, USD Million; 2019-2030)
Application Outlook (Revenue, USD Million; 2019-2030)
Code and Document Signing
PKI and Credential Management
End-Use Outlook (Revenue, USD Million; 2019-2030)
Banking, Financial Services and Insurance (BFSI)
IT and Telecommunication
Retail and E-commerce
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Hardware Security Modules market?
What are the key product types and applications of the Hardware Security Modules industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Hardware Security Modules market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Hardware Security Modules Market by 2030?
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