April 4, 2020

Hardware Security Module (HSM) Market | Top Key Player are Gemalto, Utimaco, Futurex, International Business Machines Corporation

According to a new market research report published by Credence Research, the global market for the Hardware Security Module (HSM) has registered a market value of US$ 725.0 million in 2018 and is set to grow by 13.30 per cent during the forecast period.”

Market Insights

Increasing online transactions by various organizations and companies worldwide have increased the demand for secure networking and storage devices, which is considered to be one of the main drivers of the HSM market. The HSM enables organizations to protect the details of transactions, client or customer identities and the field of application. HSM also helps to secure authentication, cryptographic keys, digital signatures and more for various applications.

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The end-user-based hardware security module (HSM) market has been segmented as BFSI, Healthcare, IT & Telecom, Transport, Energy & Utilities, Manufacturing, Retail, Government and others. BFSI segments are the dominant segment with a market share of more than 20.0 per cent in 2018 and are expected to dominate the market during the forecast period. Increasing transactions are one of the key drivers of the segment.    In February 2017, Utimaco GmbH launched a product offering security for cloud applications with the latest version of its SecurityServer hardware security module (HSM) line.

Asia-Pacific is expected to be the fastest-growing region due to increasing investment by government and private companies in providing a variety of products and services for secure data transmission and protection. Rising BFSI, e-commerce, IT & telecommunications and other industries in the region are a major driver of the market in the region. In addition, the presence of a local vendor offering different types of HSM is also driving the market. The Asia-Pacific region has been segmented by countries such as India, China, Japan and the rest of Asia-Pacific. China has the largest market share in the region due to the increasing demand for a secure network, storage devices, data transmission, and more.

Some of the prominent players operating in the Hardware Security Module (HSM) market include Thales E-Security Inc., Gemalto NV, Utimaco GmbH, Futurex, International Business Machines Corporation, Ledger, Hewlett Packard Enterprise Company, Yubico, ATOS SE, Ultra Electronics, Securosys Sa, Swift, Cardcontact Systems GmbH, Ledger, and Spyrus, Inc.

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