Sunday, March 26th, 2023

U.S. Hardware Security Module Market 2022-2030 Business Outlook

The Global Hardware Security Module Market Report is a compilation of comprehensive research studies of various aspects of the Hardware Security Module Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Hardware Security Module market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Hardware Security Module market and how they will evolve in the years to come.

Read Detailed Index of full Research Study @—2029-810

In terms of revenue, global hardware security module market was valued at US$ 785.39 Mn in 2022 and is anticipated to reach US$ 1731.59 Mn by 2030 growing at a CAGR of 9.24% over the forecast period (2022 – 2030). Key Players: ATOS SE, Entrust Corporation, Futurex, Hewlett Packard Enterprise Development LP, HUB Security, IBM Corporation,, SWIFT, Thales, Ultra Electronics, Utimaco IS GmbH and Yubico, amongst others. 

Hardware security module is a computing solution that provides protection against the evolving data threats to information keys. This device is expected to meet certain industry standards which have been setup for protecting crucial information. An example is that of federal information processing standards (FIPS) 140, which is a common criteria that provides the product design and implementation assurance. HSMs are very suitable devices for solving requirements related to projects involved in digital transformation, such as the management of digital rights in digital video recording equipment and decoders, digital offers in blockchain, internet of things (IoT), etc. Some of the uses of the HSM includes management of digital keys, data encryption and decryption for applications such as digital signatures, data authentication, and other cryptographic functions. Each HSM consists of one of more crypto processors which are highly secure in nature. It helps in preventing tampering and bus probing. Majority of the HSMs are used for the purpose of managing secret keys. The growth of online and offline transactions using payment interfaces is increasing the demand for hardware security module market, inorder to ensure transparency and security during fund transfer.  

Hardware security modules use various cryptography methods for data encryption and decryption, and the generation of private keys. HSMs are mostly certified at FIPS 140-2 Levels. HSMs use both symmetric and asymmetric cryptographic techniques for securing data. Thales, for instance, uses cryptographic methods such as RSA, DSA, Diffie-Hellman, Elliptic Curve Cryptography, AES-GCM, DES, Triple DES, amongst others, for data encryption. The manufacturers also need to ensure that HSMs that deal with credit and debit card payment processing need to comply with the PCI DSS, which has been setup by the PCI Security Standards Council. For key derivation, SP800-108 Counter Mode is generally used, based on the guidelines laid out by the National Institute of Standards and Technology (NIST).  

Protection of data has emerged as a key part of an organization’s IT strategy, especially due to the growth of internet and smart devices that has brought more users online. Data privacy laws such as HIPAA and General Data Protection Regulation of the EU mandate data protection, and breach of data can result in losses amounting to millions of dollars, especially in developed regions such as North America and Europe. There has been a steep rise in the quantity of data which is being processed by businesses, and this includes payment data, customer data, business strategy, and company financials, amongst others. Encryption of data plays a crucial role in preventing data breach. Hardware security modules have been designed to provide a high level of data security through the use of complicated encryption techniques. Robustness of HSMs are a major reason for their growing adoption, especially amongst industries such as IT and telecommunication, BFSI, military and defence, amongst others. Such factors are driving the adoption of hardware security module market.

The COVID-19 pandemic has impacted the operation of business around the globe. Remote working options are being provided by numerous companies to facilitate social distancing. However, this has also raised the threat of hardware and software-based cyber-attacks. Studies show that there has been a rise in the number of cyber-attacks as a result of remote operation of businesses, and technologies such as machine learning is being used to target business servers to extract valuable data. Hence, the adoption of hardware security module market is expected to see a significant growth in the coming years as a result of the pandemic, especially in sectors such as IT and telecommunication, healthcare, BFSI, amongst others. 

Global Hardware Security Module Market:

By Offering

  • Products
  • LAN/Network-based
  • PCI-based
  • USB-based
  • Others
  • Services
  • Training and Consulting
  • Implementation and Maintenance
  • Design and Development
  • Others

 By Deployment 

  • Cloud
  • On Premise

 By Application

  • Integrated
  • Standalone
  • Public Key Infrastructure (PKI)
  • Financial and General-Purpose Transaction
  • Code and Document Signing
  • Data Encryption
  • Secure Sockets Layer Connection Establishment
  • Domain Name System Security Extensions (DNSSEC)
  • Others

By Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

By Industry

  • Education and Training
  • Healthcare
  • Retail
  • Banking, Financial Services and Insurance
  • Government
  • Military and Defence
  • Transportation and Logistics
  • Automotive
  • IT and Telecommunication
  • Energy and Utilities
  • Manufacturing
  • Others           

By Region:

  • North America
    • U.S
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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