What is Hardware Security Modules Market Scope?
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 completely
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The Hardware Security Modules market study is being classified by Type (General Purpose HSMs, Payment HSMs and Others), by Application (Industrial and Manufacturing, Banking, Financial services and Insurance (BFSI), Government and Others) and major geographies with country level break-up. According to AMA, the Global Hardware Security Modules market is expected to see growth rate of 12.98% and may see market size of USD1.22 Billion by 2027.
Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make up-gradations in the product. Analysts at AMA predicts that Manufacturers from Chinese will contribute to the maximum growth of Global Hardware Security Modules market throughout the predicted period.
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) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are JN TASS (China), Beijing Sansec Technology (China) and Micro Focus (United Kingdom).
Analyst at AMA have segmented the market study of Global Hardware Security Modules market by Type, Application and Region.
On the basis of geography, the market of Hardware Security Modules has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In April 2020, Infineon Technologies acquired Cypress Semiconductor Corporation. With Cypress, Infineon is strengthening its focus on structural growth drivers and a broader range of applications. This would thereby accelerate the company's path towards profitable growth. Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems, and high-performance storage. All of this benefits the leading power semiconductors, automotive microcontrollers, sensors, and security solutions from Infineon.
In October 2018 Atos SE had launched a new network encryption solution so as to protect sensitive data and communications. It has helped in the day-to-day management of data over networks as well as reducing the overall cost as it does not require installation. The introduction would give customers a higher level of data protection for the security of their confidential data.
Influencing Market Trend
- Growing demand from banking and financial institutes
- Mobile banking is gaining attraction in the market
- Increment in the count of cyber attacks
- Increasing demand due to rising necessity of securing internal and external data
- Increasing Adoption of cloud-based and IoT technologies
- Rapid Digitization
- High cost
- Demand for more compact module with extra features
Key Target AudienceHardware security module Manufacturers, Distributors, Research firms, Consultancy firms, Software Developers, Vendors, Semiconductor Manufacturers, Stakeholders, End-user sectors and Technology Investors
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