Hardware Security Module Market to Witness Steady Growth at 10.9 % CAGR During 2019 - 2029

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Hardware Security Module Market to Incur High
Value Growth at 10.9 CAGR During 2019 - 2029

• March 2020

Report Id REP-GB-9275 Published On 29 March,
2019 Category Electronics, Semiconductors, and
ICT
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Hardware Security Module Market

• Future Market Insights has recently published a
  market research report, according to which, the
  global hardware security module market will
  record a total incremental opportunity of over a
  billion dollar, during the forecast period of
  2018 to 2028.
• Hardware security modules serve cryptographic
  functions, which include encryption, decryption,
  key management/generation, and hashing. A
  hardware security module is also referred to as
  Secure Application Module (SAM), Personal
  Computer Security Module (PCSM), Tamper
  Resistance Security Module (TRSM), Secure
  Signature Creation Device (SSCD), hardware
  cryptographic device, or cryptographic module.
• Security Applications Spreading Roots Fast, in
  the IoT Space
• The rising adoption of next-generation security
  solutions, which is a remarkable trend in the
  market, aids in improving the products as well as
  the operational efficiency of enterprises.
  Existing security solutions are evolving towards
  context-aware computing technology, which enables
  enterprises to detect advanced threats in a
  drastically changing environment. This factor is
  expected to create potential opportunities in the
  global cyber security market over the forecast
  period.
• Enterprises are progressively implementing
  Internet of Things (IoT)-based solutions. IoT
  solution providers are integrating cyber security
  solutions to reduce cyber-attacks on connected
  devices to identify threats and to resolve
  susceptibilities before launching their products
  in the market. With growing applications of
  security solutions in the IoT space, the demand
  for hardware security modules is expected to rise
  significantly over the next few years.

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Hardware Security Module Market

• Key Vendors Prioritize Competitive Pricing to
  Assure Security of Enterprise Ecosystem
• Manufacturers are currently offering hardware
  security module systems that have the means to
  securely back up the keys that they handle in a
  wrapped form. Other hardware security modules
  back up keys via the operating system of
  computers or by using a smart card or some other
  externally usable security token.
• Hardware security modules can make an
  organization achieve peak security standards for
  applications ranging from key management to data
  encryption and authentication. Hardware security
  modules play a vital role in an enterprise's
  security ecosystem.
• However, the cost-per-unit factor of hardware
  security modules is significantly higher than
  their software-based counterparts. Moreover,
  Hardware Security Module-as-a-Service (HSMaaS)
  solutions offered by some vendors in the market
  are expensive. Though hardware security modules
  offer reliable security, cost is a major factor
  to be taken care of to capture the market as well
  as achieve market growth.
• Several hardware security module vendors are
  making efforts to make hardware security module
  services available at reduced costs by means of
  cloudHSM. However, the incorporation of cloud in
  critical applications, such as key management and
  key storage, through HSM induces problems common
  to cloud infrastructures. As a result, cloud
  hardware security module services are still
  expensive and are required to be further
  enhanced.

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Hardware Security Module Market

• SMEs have been known to ignore cyber threats.
  Such enterprises consider cyber security
  solutions as a non-priority investment, which is
  why several start-ups and SMEs incur high losses
  following ransomware attacks.
• National governments across the globe have also
  started taking initiatives to improve their ICT
  infrastructure to facilitate digitisation in
  their respective economies. A major part of the
  ICT investment is diverted towards cyber
  security.
• Some of the key players in the global hardware
  security module market research report include
  Gemalto NV Thales E-Security Inc. Utimaco GmbH
  IBM Corporation Futurex Hewlett Packard
  Enterprise Company ATOS SE Yubico Ultra
  Electronics Swift Ledger and Spyrus, Inc.
• Source of Press-Release _at_ https//www.prnewswire.c
  om/news-releases/hardware-security-module-market-t
  o-raise-at-a-cagr-of-10-9-over-the-forecast-period
  -2018-to-2028--future-market-insights-300829743.ht
  ml
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