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Global hardware security module market estimated to be worth US$40.43 billion by the end of 2025 published by leading research firm

Ultimaco GmbH, Thales e-Security Inc., Futurex, Gemalto NV, IBM Corporation, Hewlett Packard Enterprise Development L.P., Yubico, Ultra Electronics, and SWIFT are the leading companies operating in the global HSM market.


The future of the worldwide market for hardware security module is sound, with the demand predicted to increment at a healthy 11.6% CAGR over the forecast period from 2017 to 2025. At the forefront of driving the hardware security module (HSM) market is the increasing security concerns among data-sensitive companies across the world.

To address this, enterprises are investing in cyber-security infrastructure, which in turn will drive the demand for hardware security module. Several governments are participating by laying stringent regulatory standards for vendors to adhere to the requisite cryptographic module.