TMRR, in its recent market report, suggests that the Hardware Security Modules market report is set to exceed US$ xx Mn/Bn by 2029. The report finds that the Hardware Security Modules market registered ~US$ xx Mn/Bn in 2018 and is spectated to grow at a healthy CAGR over the foreseeable period.
The Hardware Security Modules market research focuses on the market structure and various factors (positive and negative) affecting the growth of the market. The study encloses a precise evaluation of the Hardware Security Modules market, including growth rate, current scenario, and volume inflation prospects, on the basis of DROT and Porter’s Five Forces analyses. In addition, the Hardware Security Modules market study provides reliable and authentic projections regarding the technical jargon.
In this Hardware Security Modules market study, the following years are considered to project the market footprint:
- History Year: 2014 – 2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year: 2019 – 2029
The content of the Hardware Security Modules market report includes the following insights:
- Growth outlook of the global Hardware Security Modules market in terms of value and volume
- Strategies utilized by different Hardware Security Modules market players.
- Drivers, restraints, opportunities and trends (DROT Analysis) impacting the growth prospect for the Hardware Security Modules over the forecast period.
- End use consumption of the Hardware Security Modules across various regions.
- Identify the ecological impacts of the Hardware Security Modules and what regulations are being imposed on its usage.
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On the basis of solution, the global Hardware Security Modules market report covers the following solutions:
A surge in data security breaches in organizations and the increasing number of cyber-attacks are the key factors driving the hardware security modules market. Intensifying regulatory requirement compelling enterprises to comply with various proprietary information security standards has propelled the global HSMs market. For instance, the contractual enforcement of Payment Card Industry Data Security Standard (PCI DSS) in major countries such as the U.S., Canada, and Australia is expected to boost the deployment of HSMs in organizations across the world.
The rapidly growing need for effective management of cryptographic keys among organizations has spurred the demand for HSMs. In addition, the development of cost-effective and customized solutions is anticipated to create lucrative avenues for the market over the forecast period. Usually, these solutions also enable better interoperability with other encryption management solutions bolstering its implementation.
Global Hardware Security Modules Market: Market Potential
The deployment of HSMs has become an integral part of cryptographic key management policies for a large number of organizations, particularly in the financial services industry. Thales, a leading provider of cybersecurity and data security solutions based in France, announced in April, 2017 that it has integrated its prominent solution nShield HSMs with Chain, a major provider of enterprise-grade blockchain infrastructure. The integration that includes its Chain Core, its key enterprise software, will help the company’s major strategic partners—Nasdaq, Citigroup, and Visa—to benefit from blockchain networks and build modern financial products and services. The integrated nShield HSMs will enable numerous companies in the financial sector to implement secure models for payment transactions among organizations and will facilitate the safe use of the blockchain technology.
The technology company, Chain, believes that significant cost savings, speedy transactions, and enhanced data quality are some of the several benefits of an integrated HSM. An effective management of cryptographic keys is critical to blockchain technology and Chain will use the Thales nShield HSM to generate new set of one-time keys for every transaction, along with securing these keys. Chain has developed the Chain Key Derivation algorithm using CodeSafe technology from Thales to provide improved capability to manage more sensitive applications across blockchain platform. Such developments bode well for the growth of the global HSMs market.
Global Hardware Security Modules Market: Regional Outlook
Latin America is a prominent market for hardware security modules. The increased demand is attributed to the advent of various regulatory compliances and increased adoption of advanced technologies such as cloud computing and the IoT. The upsurge in losses arising out of remediating customer frauds due to data breaches has encouraged numerous organizations in Latin American countries to deploy HSMs.
Asia-Pacific is anticipated to offer lucrative opportunities for players in the HSMs market. Substantial investments in data security technologies by several companies in emerging markets like China and India have boosted the uptake of HSMs, thereby fuelling the Asia Pacific market for HSMs.
Global Hardware Security Modules Market: Competitive Analysis
Several vendors are actively offering customized HSM solutions, mainly focused on cloud-based applications and blockchain technology, to gain a competitive edge over others. Key players vying for a sustained share in the hardware security modules market include Gemalto NV, Thales e-Security, Inc., Utimaco GmbH, International Business Machines Corporation, Hewlett Packard Enterprise, FutureX, SWIFT, Atos SE, Ultra-Electronics, and Yubico.
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The Hardware Security Modules market study answers critical questions including:
- What tactics are being utilized by the Hardware Security Modules market players to expand their production footprint in region?
- What are the threats faced by players in the global Hardware Security Modules market mutually?
- Why region holds the majority of share in the global Hardware Security Modules market?
- Why solution has the largest consumption in region?
- Which end-user segment remains the leading consumers of the Hardware Security Modules across the globe?
All the players running in the global Hardware Security Modules market are elaborated thoroughly in the Hardware Security Modules market report on the basis of R&D developments, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines, legal policies, and comparative analysis between the leading and emerging Hardware Security Modules market players.
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This post was originally published on Weekly News Times