Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for IT industry professionals · Thursday, March 28, 2024 · 699,595,914 Articles · 3+ Million Readers

Hardware Security Modules Market Size Soaring at 11.9% CAGR by 2026

IndustryARC

Market Research Reports, Business Consulting Services & Analytics

Cloud segment held the highest market share, owing to growing adoption among SMEs.

HYDERABAD, TELANGANA, INDIA, February 7, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Hardware Security Modules Market is estimated to reach $2.8 Billion by 2026, witnessing a CAGR 11.9% from 2021 to 2026. Hardware Security Module is highly tamper-resistant device designed to protect and secure cryptographic devices and secure cryptoprocessor chips. It is also used to handle transparent database encryption key for data privacy. To secure private and sensitive data from cyber attacks, hacking and data breaches, the demand for hardware security module is increasing among all industries, resulting in the growth of the market during the forecast period 2021-2026. The report offers an extensive analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=505265

Key Takeaways:

This IndustryARC report on the Hardware Security Modules Market highlights the following areas –

1. The top 10 companies in the Hardware Security Module Market are Ultimaco GmbH, Futurex , IBM Corporation, Thales e-Security Inc, Ultra Electronics, Swift, Spyrus Inc, Yubico, ATOS SE and Ledger.

2. Cloud segment held the highest market share, owing to growing adoption among SMEs.

3. Banking and Financial Institution held the highest market share in 2020 and is estimated to witness a notable growth during the forecast period 2021-2026, due to rise in digital payment processing.

4. North America held the highest market share in 2020 owing to the adoption of advanced payment method and high investment in them.

Segmental Analysis:

By Deployment:

Based on Deployment, Hardware Security Module Market is segmented into Cloud and On-Premise. Cloud segment held the market share with a value of 15.9% and it is anticipated to witness the significant market growth during the forecast period 2021-2026. By using Cloud based HSM one can easily generate own encryption keys on the cloud.

By End-User:

BFSI held the highest market share with a share of 28.2% in 2020 and it is anticipated to witness the significant market growth during the forecast period 2021-2026. With the growing use of online banking, mobile & e-wallet payment as well as 3-D secure payment, the adoption of hardware security module increased significantly.

By Geography:

North America dominated the Hardware Security Modules market in 2020 with a share in excess of 37.2%, owing to the early adoption of advanced Security Modules as well as presence of key vendors across the region. High investment along with stringent government regulation influences growth of the market in this region.

Click on the following link to buy the Hardware Security Modules Market Report:
https://www.industryarc.com/reports/request-quote?id=505265

Competitive Landscape:

The top 5 players in the Hardware Security Modules Industry are -

1. Utimaco GmbH
2. FutureX
3. Thales e-Security Inc
4. Ultra Electronics
5. Swift SCRL

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Hardware-Security-Modules-Market-Research-505265

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.


Related Reports:

A. Hardware Security Module Procurement Prospects Market:

https://www.industryarc.com/Research/Hardware-Security-Module-Procurement-Prospects-Market-Research-507906

B. Cyber Security Market:

https://www.industryarc.com/Report/15646/cyber-security-market.html

Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Powered by EIN Presswire
Distribution channels: Electronics Industry


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release