Hardware Security Module Market 2028 BY Type, Application, Industry and Geography | The Insight Partners

MARKET OVERVIEW

A hardware security module is a crypto processor, which is precisely designed to protect the crypto key lifecycle. It is hardware with associated software placed inside or attached to specific hardware for serving cryptographic functions. The functions of a hardware security module comprise of encryption, decryption, key management/generation, and hashing. These systems have the capability to securely back up the keys, which can be handled by the use of certain external security token including smart card or through operating systems of the computer.

MARKET SCOPE

The "Global Hardware Security Module Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the hardware security module market with detailed market segmentation by type, application, industry, and geography. The report provides key statistics on the market status of the leading hardware security module market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on type, the market is segmented into LAN Based, PCIe Based, and USB based.
• Based on application, the market is segmented into payment processing, database encryption, code and document signing, credential management, secure socket layer, authentication, application-level encryption, and others.
• Based on industry, the market is segmented into BFSI, energy and utility, manufacturing, retail and consumer goods, government, healthcare, and others.

MARKET DYNAMICS

Drivers

 

• Data security concern of companies dealing with sensitive data is increasingly demanding for hardware security module; thus, influencing the hardware security module market growth.
• Increasing internet penetration has resulted in adapting to information systems for simplification of several operational processes. Thus, bolstering the demand for hardware security module market. Also, the emergence of digital transactions, electronic payments, and rising need for protection of highly sensitive financial data from a possible security threat is driving the hardware security module market growth.

Restraints

• High cost may hinder the growth of the hardware security module market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The hardware security module market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the hardware security module market in these regions.

IMPACT OF COVID-19 ON HARDWARE SECURITY MODULE MARKET

COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the hardware security module market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the hardware security module market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the hardware security module market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Altacom UAB
• Atos SE
• Hewlett Packard Enterprise Development LP
• I4P-Informatikai Kft.
• IBM
• Kryptus
• STMicroelectronics
• SWIFT
• Thales Group
• Ultra

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.