Hardware Security Modules Industry worth $2.3 billion by 2028

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MarketsandMarkets Presents
Hardware Security Modules Market by Deployment
Type (On-premises, Cloud Based), Type (LAN
Based/Network Attached, PCI Based, USB Based,
Smart Cards ), Applications, Verticals and Region
(North America, Europe, APAC, RoW) - Global
Forecast to 2027 The hardware security module
market size is valued at USD 1.1 Billion in 2022
and is anticipated to be USD 2.0 Billion by 2027
growing at a CAGR of 13.1 from 2022 to
2027. Factors such as the increase in data
breaches and cyberattacks and the growing
adoption of digital payments are driving the
growth of the market during the forecast
period.
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MarketsandMarkets Presents
Cloud segment is expected to hold the largest
share during the forecast period The cloud
segment is expected to hold a larger market share
by 2027. This is primarily due to its ability to
perform cryptographic operations and provide
customers with absolute control over keys through
separation of duties. Cloud-based HSMs enable
users to scale quickly by adding and removing HSM
capacity on-demand, with no up-front costs.
Enterprises employ cloud-based HSM when they want
to test or pilot a variety of HSM services from
different vendors with little upfront investment
before choosing one. Additionally, it is useful
in organizations where workloads are less and
where the requirements for application
performance and latency are not as strict as
those that demand for an on-premise HSM to be
dedicated to them. 
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MarketsandMarkets Presents
BFSI vertical held the largest share of hardware
security module market during the forecast
period To ensure security in core banking,
online banking, banking card personalization
systems, trade finance, international payments,
foreign exchange, bank guarantee, and other
similar applications involved in the BFSI
vertical, hardware security modules play a
crucial role in safeguarding the private keys and
securely storing cryptographic keys in a
hardware-based back-end system. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id258239167 The hardware security
module market is currently dominated by the BFSI
industry as they ensure that core financial
systems and internet banking platforms operate in
a secure environment
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MarketsandMarkets Presents
North America exhibit the highest CAGR during the
forecast period The market in the North America
region is expected to be driven by the growing
demand from the healthcare and IT and
telecommunications verticals. With advancements
in autonomous driving technology and recent
technology trends in the Internet of Things
(IoT), there is a need for secured connected
devices, improved bandwidth, and latency
reduction, which can be easily achieved through
5G.  Know more _at_ https//www.marketsandmarkets.c
om/Market-Reports/hardware-security-modules-market
-162277475.html
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MarketsandMarkets Presents

• The key players in this market are
• Thales (France),
• Utimaco (Germany),
• Futurex (US),
• IBM (US),
• STMicroelectronics (Switzerland),
• ATOS SE (France),
• Yubico (US),
• Infineon Technologies (Germany),
• Microchip Technology (US), and
• Swift (Belgium). The players in this market have
  adopted various strategies to expand their global
  presence and increase their market shares.

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