Hardware Security Module (HSM) Market Is Driven By Rising Growth Of Online Transactions Globally

According to a new market research report published by Credence Research “Global Hardware Security Module (HSM) Market (Type (Network-Attached HSM, Embedded Plugins HSM, USB-Based HSM); Application (Payment,  Processing, Code and Document Signing, Secure Sockets Layers and Transport Layer Security, Authentication, Database Encryption, Credential Management, Application Level Encryption); Deployment (Cloud, On-Premise); End-Users (BFSI, Healthcare, IT & Telecom, Transportation,  Energy & Utilities, Manufacturing, Retail, Government, Others)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall Hardware Security Module (HSM) market worldwide is had registered a market value of US$ 725.0  Mn in 2018 and is set to grow with a CAGR of 13.30 % during the forecast period.

Market Insights

The increasing online transaction from various organizations and companies globally has increased the demand for secure network and storage devices which is considered as one of the major factors driving the HSM market. The HSM allows the organizations to protect the details of the transactions, identities of the clients or customers and the field of applications. The HSM also helps in securing the authentication, cryptographic key, digital signing and other for various applications.

Based on end-user, the hardware security module (HSM) market has been segmented as BFSI, healthcare, IT & Telecom, transportation, energy & utilities, manufacturing, retail, government, and others. The BFSI segments are the dominating segment in 2018 with a market share of more than 20.0% and are expected to dominate the market during the forecast period. The increasing transactions are one of the major factor driving the segment.    In February 2017, Utimaco GmbH launched a product that offers security to the cloud applications with the latest version of its SecurityServer line of hardware security modules (HSMs).

Asia-Pacific is expected to be the fastest-growing region due to increasing investments made by the government and private companies for providing various products and services for secure data transmission and protection. The rising BFSI, e-commerce, IT & telecom and other industries in the region is a major factor driving the market in the region. Additionally, the presence of a local vendor that offers various types of HSM is also driving the market. Based on countries the Asia-Pacific region has been segmented as India, China, Japan, and the rest of the Asia-Pacific. China accounts for the largest market share in the region due to the increasing demand for a secure network, storage devices, data transmission, and others.

Some of the prominent players operating in the Hardware Security Module (HSM) market include Thales E-Security Inc., Gemalto NV, Utimaco GmbH, Futurex, International Business Machines Corporation, Ledger, Hewlett Packard Enterprise Company, Yubico, ATOS SE, Ultra Electronics, Securosys Sa, Swift, Cardcontact Systems GmbH, Ledger, and Spyrus, Inc.

 

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