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Hardware Security Modules Market by Type, Application, Industry, and Geography - Global Forecast to 2022

Hardware Security Modules Market: Global Forecast until 2022

  • March 2017
  • 151 pages
  • ID: 4805940
In this report:
THE MARKET FOR USB-BASED HSMS WAS VALUED AT USD ##.## MILLION IN 2016 AND IS EXPECTED TO REACH USD ##.## MILLION BY 2022, AT THE HIGHEST CAGR OF ##.##% DURING THE FORECAST PERIOD SINCE THEY ARE EXPECTED TO BE HIGHLY SUITABLE FOR OFFLINE SITUATIONS AND PREFERRED TO BE USED BY AN INDIVIDUAL PERFORMING ACTIVITIES, WHICH REQUIRE SECURITY FOR THE ENCRYPTION.
THE MARKET IN LATIN AMERICA IS EXPECTED TO GROW AT THE HIGHEST CAGR OF ##.##% BETWEEN 2017 AND 2022, AND ACCOUNTED FOR A SHARE OF ##.##% OF THE HARDWARE SECURITY MODULES MARKET IN 2016.

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"The hardware security modules market is likely to grow at a compound annual growth rate (CAGR) of 12.87% during the forecast term"

The hardware security modules market is forecasted to reach $1101.20M by 2022, at a compound annual growth rate of ~12.9 percent during the forecast period. The increase of the market is influenced by several Elements such as the growth in data breaches and cyberattacks, mandates for HSM manufacturers to comply with internal and external privacy and data security regulations, and effective management of cryptographic keys. Nevertheless, Elements such as the cost combined with the hardware security modules is anticipated to limit the market increase for a short period of time.

"USB-based/portable HSM would witness a high increase rate during the outlook period"

The industry for USB-based/portable HSM is anticipated to increase at the highest CAGR (Compound annual growth rate) 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 institutions to offer 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 maximum growth rate during the estimate period.

"Payment processing type application market would witness a high market size"

The payment processing type application held the biggest industry size during the outlook period. The emergence of digital transactions, electronic payments, and the need to safeguard the most sensitive financial data results into the most important 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 increase rate for payment processing application during the estimate period.

"EU would dominate the HSM market, while Latin America area is anticipated to rise at the maximal rate during the outlook period"

Europe (EU) held the biggest share of the hardware security modules market in 2016 due to the presence of main vendors of hardware security modules and high regulatory compliance in the territory. The sector in Latin America area is anticipated to grow at the highest compound annual growth rate (CAGR) between 2017 and 2022. The increase of the hardware security modules market in Latin America area is influenced by the increasing adoption of modern technologies including cloud computing and IoT as well as the government initiatives for protecting the sensitive data by formulating data security standards.

Given below is the breakdown of the profile of the primary participants in terms of distinct parameters considered:

• By Company category: Tier 1 - 25.0 percent, Tier 2 - 40.0 percent, and Tier 3 - 35.0 percent

• By Description: C-suite executives - 50.0 percent, Directors - 32.0 percent, and Others - 18.0 percent

• By Area: North Americas - 32.0 percent, EU - 30.0 percent, Asia-Pacific - 24.0 percent, and MEA & LA - 14%.

The top players operating in this sector contain Gemalto NV, Thales e-Security, Incorporated, Utimaco GmbH, International Business Machines (NYSE:IBM), FutureX, Hewlett Packard Enterprise Development LP SWIFT, Atos SE, Ultra-Electronics, and Yubico.

Segment Research

In this business report, different segments including type, application, sector, and territory have been covered. It also considers the drivers, industry restraints, possibilities, and opportunities pertaining to the market. The analysis contributes a in-depth view of the market across five main regions: North America continent, Europe (EU), Asia-Pac, Middle East (ME) and African continent, and Latin America area. The Porter's five forces analysis has been included in the market research, together with the description of each of its forces and their impact on the said market.

Why Purchasing This Study Can Help You:

• this business report includes the hardware security modules market sizing in terms of value importance on the basis of category, application, market, and area and shipment/quantity on the basis of class.

• The Porter's five forces analysis, value chain study, and top strategies approved by the key market players have been provided for the hardware security modules market.

• The main drivers, market restraints, alternatives and, opportunities for the hardware security modules market have been provided in detail in this industry report.

• The report includes figures of segmentation, review, and estimate for the hardware security modules market established on its segments and sub-segments.

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