Hardware Security Modules Market Analysis Research 2017 is a premium report explores Hardware Security Modules Market Size, Share, Growth, Potential, Opportunity and Company analysis to 2022. Hardware Security Modules Market particularly focusing on Hardware Security Modules Demand, Market Drivers, Challenges, Major trends, and value chain Analysis. Global Hardware Security Modules Market set to hit $1,101.2 million by 2022 at a CAGR of 12.87% by 2022.
Study expands Hardware Security Modules Market by Type (LAN Based, PCle Based, USB Based), Application (Payment Processing, Authentication, Code and Document Signing, PKI, Application Level and Database Encryption, SSL), Industry, and Geography - Global Forecast to 2022.
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Global Key Hardware Security Modules Market Companies Mentioned In Report: Gemal to NV (Amsterdam), Thales e-Security, Inc. (U.S.), Utimaco GmbH (Germany), International Business Machines Corporation (U.S.), FutureX (U.S.),Hewlett Packard Enterprise Development LP (U.S.) SWIFT (Belgium), Atos SE (France), Ultra-Electronics (U.K.), and Yubico (U.S.).
The growth of the market is driven by various factors such as the increase in data breaches and cyber-attacks, mandates for HSM manufacturers to comply with internal and external privacy and data security regulations, and effective management of cryptographic keys.
However, factors such as the cost associated with the hardware security modules is expected to limit the market growth for a short period of time.
The market for USB-based/portable HSM is expected to grow at the highest CAGR between 2017 and 2022.The USB-based/portable HSMs are ideally suitable for offline situations where the HSM is stored in a physical safe when not in use, or where the HSM is required to be portable. USB-based HSMs enable organizations to provide high-assurance cryptographic solutions in a cost-effective way.
Portability and USB connectivity make USB-based HSMs especially suitable for use with laptops, workstations, or desktops, resulting in the highest growth rate during the forecast period.
The payment processing type application held the largest market size during the forecast period. The emergence of digital transactions, electronic payments, and the need to safeguard the most sensitive financial data results into the largest market share of the payment processing application.
To keep systems and internal processes flexible and scalable, HSMs have been specially designed to meet the industry standards and regulatory requirement with respect to the payment processing resulting into the high growth rate for payment processing application during the forecast period.
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Europe held the largest share of the hardware security modules market in 2016 owing to the presence of major vendors of hardware security modules and high regulatory compliance in the region. The market in Latin America is expected to grow at the highest CAGR between 2017 and 2022.
The growth of the hardware security modules market in Latin America is driven by the growing adoption of modern technologies such as cloud computing and IoT as well as the government initiatives for protecting the sensitive data by formulating data security standards.
In this report, various segments such as type, application, industry, and geography have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market.
The report gives a detailed view of the market across five main regions: North America, Europe, APAC, Middle East and Africa, and Latin America. The Porter’s five forces analysis has been included in the report, along with the description of each of its forces and their impact on the said market.