Hardware Security Modules Market Will Expand at CAGR of 18.9% by 2027

The rising demand for hardware security modules owing to the increasing incidents of data security theft is among the considerable factors that influence the growth of the hardware security modules market.

PLEASANTON CA, Oct. 21, 2021 (GLOBE NEWSWIRE) -- The latest market research report “Hardware Security Modules Market By Application (Payment Processing, Code and Document Signing, Authentication, Application-level Encryption, Database Encryption, PKI and Credential Management, Security Sockets Layer and Transport Security Layer); By Industry Vertical (Consumer Goods & Retail, BFSI, Aerospace & Defense, Public Sector/Government, Energy & Power, Industrial Manufacturing, Medical & Life Science, Transportation, IT and Telecommunication) - Global Forecasts 2021 to 2027” published by AllTheResearch, features an analysis of the current and future scenario of the global Hardware Security Modules market.

Hardware Security Modules Market was valued at USD 1.2 Bn in 2020 and is expected to reach USD 2.5 Bn by 2027, growing CAGR of 11.5% during the forecast period.

Global Hardware Security Modules Market Report Overview:

The report overview includes studying the market scope, leading players like Hewlett Packard Enterprise Development LP, Thales Group, Utimaco Inc., IBM Corporation, Microchip Technology Inc., and etc., market segments and sub-segments, market analysis by type, application, geography. The report covers Leading Countries and analyzes the potential of the global Hardware Security Modules industry, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.

The increasing demand for Hardware security modules inferable from the expanding occurrences of information security robbery is among the extensive components that impact the development of the hardware security modules market. The hardware security modules give wellbeing and security of the information. It is utilized to secure client individual data, advanced exchanges, and the association's important computerized resources from openness.

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COVID-19 Impact Analysis on Hardware Security Modules Market:

The COVID-19 pandemic has essentially influenced the significant enterprises like assembling, oil and gas, and others because of the severe lockdown forced by state run administrations across the globe. The hardware security modules market was fundamentally affected by the COVID-19 pandemic. New tasks all through the world have slowed down, along these lines, this prompted a lessening sought after for simple semiconductors. The makers have attempted to incorporate new hardware security modules as the laborers have remained in their homes because of the lockdown, which upset the worldwide stock chains. Be that as it may, in 2021, the state-run administrations to some degree open the economy because of which the hardware security modules market recuperate gradually. Also, the worldwide pattern for advanced installments, which thus, the flood popular for hardware security modules, in this manner it will speed up the development of the hardware security modules market. A more point by point investigation explicit to this industry will be given in the report.

The Major Prominent Players Covered in Hardware Security Modules Market Report are:

• Hewlett Packard Enterprise Development LP

• Thales Group

• Utimaco Inc.

• IBM Corporation

• Microchip Technology Inc.

• Infineon Technologies AG

• Securosys SA.

• SPYRUS

• Futurex

• SWIFT

• Atos SE

• Yubico

• Ultra-Electronics

• Securosys SA.

• CardContact Systems GmbH

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The Global Hardware Security Modules Industry Segmentation:

By Deployment Type Outlook:

• Cloud

• On-premises

By Type Outlook:

• LAN Based/Network Attached

• PCI-Based/Embedded Plugins

• USB Based/Portable

• Smart Cards

By Application Outlook:

• Payment Processing

• Code and Document Signing

• Authentication

• Application-level Encryption

• Database Encryption

• PKI and Credential Management

• Security Sockets Layer (SSL) and Transport Security Layer (TSL)

By Industry Vertical Outlook:

• Consumer Goods & Retail

• BFSI

• Aerospace & Defense

• Public Sector/Government

• Energy & Power

• Industrial Manufacturing

• Medical & Life Science

• Transportation

• IT and Telecommunication

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Hardware Security Modules Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Rest of the World

Hardware Security Modules Market Key Findings:

• Based on the deployment type, the cloud in the hardware security modules market is expected to be the fastest-growing segment during the forecast period

• Based on industry vertical, the BFSI segment in the hardware security modules market held a major market share of over 28.2% in 2020

• Based on regions, North America dominated the hardware security modules market and is expected to show its dominance over the forecast period

Reason to purchase this report:

• Determine prospective investment areas based on a detailed trend analysis of the global hardware security modules market over the next years.

• Gain an in-depth understanding of the underlying factors driving demand for different and hardware security modules market segments in the top spending countries across the world and identify the opportunities offered by each of them.

• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.

• Identify the major channels that are driving the global hardware security modules market, providing a clear picture of future opportunities that can be tapped, and resulting in revenue expansion.

• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global hardware security modules market.

• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.

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