About Hardware Security Module
A hardware security module (HSM) is a dedicated crypto processor, a physical computing device that safeguards and manages digital keys for strong authentication and provides crypto processing. It acts as trust anchors that protect the cryptographic infrastructure of some of the most security-conscious organizations in the world by securely managing, processing, and storing cryptographic keys inside a hardened, tamper-resistant device. These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or network server. A vast majority of existing HSMs are designed mainly to manage secret keys.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Hardware Security Module market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Thales E-Security, Inc. (United States), IBM (United States), Entrust (United States), Google (United States), Futurex (United States), Hewlett-Packard (United States), Utimaco GmbH (Singapore), SWIFT (United Kingdom), Atos SE (France) and Ultra-Electronics(United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Cryptomathic (Denmark), nCipher Security, LLC (United States), Yubico (United States), Worldline (France) and AdwebTech (India).
Segmentation Overview
AMA Research has segmented the market of Global Hardware Security Module market by Type (General Purpose HSM (USB, and Backup) and Payment HSM), Application (Payment Processing, Authentication, Database Encryption/Decryption, Digital Signing Services, PKI or Credential Management and Others) and Region.
On the basis of geography, the market of Hardware Security Module 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). If we see Market by Deployment Type, the sub-segment i.e. On-premises will boost the Hardware Security Module market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Industrial and Manufacturing Industry will boost the Hardware Security Module market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Tamper-Evident and Intrusion-Resistant HSMs Provide the Highest Level of Physical Security
Market Growth Drivers:
Growing Number of Data Breaches and Cyberattacks across the World, Effective Management of Cryptographic Keys and Stringent Government Regulations for Security and Privacy of Data
Challenges:
Secure Management of Data and Encryption Keys across Private, Public, or Hybrid Environments
Restraints:
Cost Associated With Hardware Security Modules and Presence of Vulnerabilities
Opportunities:
Demand for HSMs for Data Security in the Cloud Environment and Achieve Point-To-Point Encryption by Complying With PCI Standards
Market Leaders and their expansionary development strategies
On April 02, 2019, Thales Group has completed the acquisition of Gemalto NV, creating a global leader in digital identity and security. With Gemalto, Thales will cover the entire critical decision chain in a digital world, from data generation via sensors, to real-time decision support.
On February 18, 2020, Futurex, a leader in hardened, enterprise-class data security solutions, and Bloombase, the intelligent storage firewall company, has announced the integration of Futurex’s suite of hardware security modules (HSMs) both on-premises and through Futurex’s VirtuCrypt cloud services with Bloombase StoreSafe Intelligent Storage Firewall.
The National Institute of Standards and Technology (NIST) is recommending the use of 2,048 bit RSA keys from the year 2010. Performance at longer key sizes is becoming increasingly important. To address this issue, some HSMs now support elliptic curve cryptography (ECC), which delivers stronger encryption with shorter key lengths. Other, regulations include GDPR, eIDAS, HIPAA, PCI, -DSS and more.
Key Target Audience
Hardware Security Module Vendors, Technical Developers & Engineers, IT & Computer Peripherals Firms, Distributors/Suppliers, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.