Hardware Security Module Market 2022 Development Status, Competitive Analysis, Types and Applications 2028

 

Global sales of hardware security modules will be approximately US $ 1,030.4 million in 2021 and will increase at a CAGR of 9.9% to reach a valuation of US $ 2,039.1 million by 2028. The hardware security module market occupies about 4% of the world physical security market.

LAN-based or network-connected HSMs, PCIe-based or built-in plug-in HSMs, USB-based or portable HSMs are primarily payment processing, code and document signing, Secure Sockets Layer (SSL), Transport Layer Security (TLS), authentication, Database encryption, PKI or credential management, and application-level encryption.

Security applications that rapidly spread their roots in the IoT space

Increasing adoption of next-generation security solutions, a remarkable trend in the market, will help improve products and improve enterprise operational efficiency. Existing security solutions are evolving towards context-aware computing technology that enables enterprises to detect advanced threats in dramatically changing environments. This factor is expected to create potential opportunities for the global cybersecurity market over the forecast period.

Enterprises are gradually implementing Internet of Things (IoT) -based solutions. IoT solution providers are integrating cybersecurity solutions to reduce cyberattacks on connected devices, identify threats, and resolve sensitivities before they bring their products to market. As the number of applications for security solutions in the IoT space increases, the demand for hardware security modules is expected to increase significantly over the next few years.

Leading vendors prioritize competitive pricing to ensure the security of the corporate ecosystem

Manufacturers now offer hardware security module systems with a means of securely backing up keys that are processed in a wrapped format. Other hardware security modules back up keys through the computer's operating system or using security tokens that are available on smart cards and other external sources.

Hardware security modules enable organizations to achieve the highest security standards for their applications, from key management to data encryption and authentication. Hardware security modules play an important role in the corporate security ecosystem.

However, the cost per unit of a hardware security module is significantly higher than that of a software-based module. In addition, Hardware Security Module-as-a-Service (HSMaaS) solutions from some vendors on the market are expensive. Hardware security modules provide reliable security, but cost is a key factor to pay attention to in order to win the market and achieve market growth.

Some hardware security module vendors are striving to make hardware security module services available at low cost using cloudHSM. However, embedding the cloud in critical applications such as key management and key storage through HSMs creates common problems with the cloud infrastructure. As a result, cloud hardware security module services are still expensive and need to be further enhanced.

SMEs are known to ignore cyber threats. These companies view cybersecurity solutions as a non-priority investment. As a result, some start-ups and small businesses have suffered significant losses after ransomware attacks.

Governments around the world are also beginning to take initiatives to improve their ICT infrastructure to facilitate digitalization in their economies. Most of the ICT investment goes to cybersecurity.

Gemalto NV is a key player in the Global Hardware Security Module Market Research Report. Thales E-Security Inc.; Utimaco GmbH; IBM Corporation; Futurex; Hewlett Packard Enterprise Company; ATOS SE; Ubico; Ultra Electronics; Rapid; Ledger; and Spyrus, Inc.

Key segment 

 

Based on type

  • USB-based hardware security module
  • PCIe-based hardware security module
  • LAN-based hardware security module

Based on application

  • Payment procedure
  • Code and document signature
  • SSL and TLS
  • certification
  • Database encryption
  • PKI or qualification management
  • App level encryption

Industry based

  • BFSI
  • Discrete manufacturing
  • Process manufacturing
  • media
  • Professional services
  • retail
  • health management
  • Energy and utility
  • Among other industries

Read More - https://www.futuremarketinsights.com/reports/hardware-security-module-market

 

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