Hardware Security Module Market By Product Type (LAN based/ Network Attached, PCI-Based/ Embedded Plugins, USB-Based/ Portable, Smart Cards), By Deployment Mode (On-premise, Cloud), By Application (Payment Processing, Code and Document Signing, Security S

Hardware Security Module Market By Product Type (LAN based/ Network Attached, PCI-Based/ Embedded Plugins, USB-Based/ Portable, Smart Cards), By Deployment Mode (On-premise, Cloud), By Application (Payment Processing, Code and Document Signing, Security Sockets Layer (SSL) and Transport Security Layer (TSL), Authentication, Application-Level Encryption, Others), By Industry Vertical (BFSI, IT and Telecommunication, Government, Consumer Goods and Retail, Transportation, Aerospace, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

A hardware security module (HSM) is a physical device that provides extra security for sensitive data. This type of device is used to provision cryptographic keys for critical functions such as encryption, decryption and authentication for the use of applications, identities and databases. These devices can be plugin cards or be embedded in other hardware, including smart cards, appliances and other external devices. They can be connected to a network server or used as a standalone device offline. They are also offered as cloud services.

An increase in data breaches and cyberattacks and increase in the adoption of the 5G network is boosting the growth of the global hardware security module market. in addition, an increase in strict data security compliances positively impacts the growth of the hardware security module market. However, the high price related to the hardware security modules and increasing security concerns is hampering the hardware security module market growth. On the contrary, growing reliance on cryptographic keys is expected to offer remunerative opportunities for the expansion of the hardware security module market during the forecast period.

The hardware security module market is segmented on the basis of type, deployment mode, application, industry vertical and region. On the basis of type, the market is categorized into LAN-based/ network attached, PCI-based/ embedded plugins, USB-based/ portable, and smart cards. On the basis of deployment mode, the market is fragmented into on-premise and cloud. On the basis of application, the market is bifurcated into payment processing, code and document signing, security sockets layer (SSL) and transport security layer (TSL), authentication, application-level encryption, and others. By industry vertical, it is classified into BFSI, IT & telecommunication, government, consumer goods & retail, transportation, aerospace & defense, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in the hardware security module market are Thales, utimaco GmbH., future, Adweb Technologies, IBM Corporation, Atos SE, Hewlett Packard Enterprise, Ultra-Electronics, Entrust Datacard, and Microchip Technology Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits for Stakeholders

The study provides an in-depth analysis of the global hardware security module market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global hardware security module market trend is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2023 to 2032 is provided to determine the market potential.
Product Life Cycles
New Product Development/ Product Matrix of Key Players
SWOT Analysis
Volume Market Size and Forecast

Key Market Segments

By Product Type

Smart Cards
LAN based/ Network Attached
PCI-Based/ Embedded Plugins
USB-Based/ Portable

By Deployment Mode

On-premise
Cloud

By Application

Payment Processing
Code and Document Signing
Security Sockets Layer (SSL) and Transport Security Layer (TSL)
Authentication
Application-Level Encryption
Others

By Industry Vertical

BFSI
IT and Telecommunication
Government
Consumer Goods and Retail
Transportation
Aerospace
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

Thales
utimaco GmbH.
IBM Corporation
Atos SE
Entrust Datacard
Futurex
Adweb Technologies
Hewlett Packard Enterprise
Microchip Technology Inc.
Ultra Electronics Holdings Plc

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