Hardware Security Modules Market: A Look at the Industry's Growth and Future Prospects

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.

The report is equipped with a vivid description of the current trends of the global Hardware Security Modules market. It holds an unbiased perspective of the leading market players, intense competition, the major regions/countries, end-use industries, and a broad continuum of products available in this market. Therefore, the market intelligence report offers a 360° view of the global Hardware Security Modules industry and provides significant information pertinent to the various growth-inducing and growth-restraining factors in detail.

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Key companies operating in the Hardware Security Modules market include:

IBM Corporation, Thales Group, Utimaco Safeware., Atos SE, STMicroelectronics, Microchip Technology Inc., Hewlett Packard Enterprise, Gemalto NV, QLogic Corporation, and Futurex LP.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Hardware Security Modules market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global Hardware Security Modules Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market

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Hardware Security Modules Market Segmentation:

Type Outlook (Revenue, USD Million; 2019-2030)
- LAN Based
- USB Based
- PCI Based
- Smart Cards
- Others

Deployment Type Outlook (Revenue, USD Million; 2019-2030)
- Cloud Based
- On-Premises

Application Outlook (Revenue, USD Million; 2019-2030)
- Payment Processing
- Code and Document Signing
- Application-level encryption
- Database Encryption
- Authentication
- Document Signing
- PKI and Credential Management
- Others

Hardware Security Modules Market Segmentation by Regions:

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)

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