Hardware security module (HSM) is an electronic device that is specifically designed for the protection internal data. HSM are available in the form of a plug-in card or an external device that attaches directly to a computer or network server. It is basically used for providing strong authentication and crypto processing. Now-a-days organizations are becoming more security conscious and thereby securely managing, processing, and storing cryptographic keys using this modules. The main benefit of hardware security module to protect financial transactions and identities, as this points are very important and can make or break the organization completelyThe Global Hardware Security Modules market is expected to see growth rate of 12.98% and may see market size of USD1.22 Billion by 2028,.
|Value (USD Billion)
|Key Companies Profiled
|Gemalto NV (Amsterdam), Thales e-Security, Inc. (United States), Utimaco GmbH (Germany), International Business Machines Corporation (United States), FutureX (United States), Hewlett-Packard Enterprise Development LP (United States), SWIFT (Belgium), Infineon Technologies (Germany), Atos SE (France), Ultra-Electronics (United Kingdom), Yubico (United States), Westone (United States) and JN UNION (China)
|Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Manufacturers of Hardware Security Modules Market Study:
Gemalto NV (Amsterdam), Thales e-Security, Inc. (United States), Utimaco GmbH (Germany), International Business Machines Corporation (United States), FutureX (United States), Hewlett-Packard Enterprise Development LP (United States), SWIFT (Belgium), Infineon Technologies (Germany), Atos SE (France), Ultra-Electronics (United Kingdom), Yubico (United States), Westone (United States) and JN UNION (China)
Hardware Security Modules Market Segment Analysis
|Application / End User
|Industrial and Manufacturing, Banking, Financial services and Insurance (BFSI), Government and Others
|General Purpose HSMs, Payment HSMs and Others
Growing demand from banking and financial institutes and Mobile banking is gaining attraction in the market
Market Growth Drivers:
Increment in the count of cyber attacks and Increasing demand due to rising necessity of securing internal and external data
High cost and Demand for more compact module with extra features
Increasing Adoption of cloud-based and IoT technologies and Rapid Digitization
Some of the other players that are also part of study are JN TASS (China), Beijing Sansec Technology (China) and Micro Focus (United Kingdom). The Global Hardware Security Modules market is gaining huge competition due to involvement of Chinese companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In May 2023, Canadian company Crypto4A Technologies Inc. introduced a groundbreaking fifth-generation Hardware Security Module (HSM) called QxHSM™. This innovative HSM comes in a modular blade form factor, offering operational efficiencies and reducing the total cost of ownership. QxHSM™ delivers quantum-safe cryptographic agility, mobility, and scalability, enabling organizations to keep pace with rapid technological advancements.
In August 2022, Thales' cellular IoT products business, Telit Cinterion acquired by Telit and Thales creates a formidable Western IoT powerhouse. This acquisition provide a wide range of IoT solutions, including a comprehensive suite of IoT products, services, and bundles comprising hardware, software, and connectivity solutions.
Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hardware Security Modules market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Hardware Security Modules market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Hardware security module Manufacturers, Distributors, Research firms, Consultancy firms, Software Developers, Vendors, Semiconductor Manufacturers, Stakeholders, End-user sectors and Technology Investors.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.