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

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


Cyberattacks are significantly increasing across the globe. Attackers are increasingly targeting banks, financial institutions, and large companies, thereby raising cyber threats. Several cyberattacks took place in 2014 and 2015, which include the cyberattack on Sony Picture Entertainment (2014), that on the US. – PowerPoint PPT presentation

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

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
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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
  • 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.

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

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
  • 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
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