A latest report from Absolute Markets Insights covers insights into the global Hardware Security Module market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Hardware Security Module market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Hardware Security Module report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Hardware Security Module report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Hardware Security Module market include: ATOS SE, Entrust Corporation, Futurex, Hewlett Packard Enterprise Development LP, HUB Security, IBM Corporation, Rambus.com, SWIFT, Thales, Ultra Electronics, Utimaco IS GmbH and Yubico, amongst others.
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).
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Hardware Security Module Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Hardware Security Module Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Hardware Security Module Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Hardware Security Module Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Hardware Security Module Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Hardware Security Module market?
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 Segmentation:
Hardware Security Module Market By Offerings (Products (LAN/Network-Based, PCI-Based, USB-Based, Others), Services (Training And Consulting, Implementation And Maintenance, Design And Development, Others)); By Deployment Mode (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) And 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 And Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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