Hardware Security Modules Market Trends, Outlook, Demand, Insights, Overview 2023-2032

The Hardware Security Modules Global Market Report 2023, provides comprehensive information on the hardware security modules market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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The global hardware security modules market size is expected to grow from $1.34 billion in 2022 to $1.53 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hardware security module market size is expected to reach $2.61 billion in 2027 at a CAGR of 14.3%.

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Product innovation is a key trend gaining popularity in the hardware security module market. Major companies operating in the hardware security module market are focused on developing innovative products to strengthen their position. For instance, in February 2022, Thales Group, a France-based technology company that creates, designs, and produces electrical systems and aircraft gadgets, launched a new IoT connection solution ELS62. It has better reliability and security for smart devices, simplifying enterprises’ digital transition. It combines moderate technology for simplifying design, streamlining development, and reducing time-to-market for IoT products. The product offers different connectivity alternatives and high cybersecurity for IoT devices, along with security measures that safeguard both the device and data by ensuring resilience against cyberattacks, strong device authentication, and data encryption.

The hardware security modules market is segmented:

1) By Type: LAN Based/ Network Attached, PCI-Based/ Embedded Plugins, USB Based/ Portable, Smart Cards

2) By Deployment Type: On-Premise, Cloud

3) By Application: SSL (Secure Sockets Layer), TSL (Transport Layer Security), Authentication, Payment Processing, Code And Document Signing, Application-Level Encryption, Database Encryption, Public Key Infrastructure (PKI), Credential Management

4) By End-User: Banking And Financial Services, Energy And Utility, Retail And Consumer Products, Government Technology And Communication, Industrial And Manufacturing, Healthcare, Life Sciences

Top Major Players:
Thales e-Security Inc
Utimaco GmbH
International Business Machines Corporation
FutureX LP
Yubico Inc

Europe was the largest region in the hardware security module market in 2022.

The table of contents in TBRC’s hardware security modules market report includes:

1. Executive Summary
2. Hardware Security Modules Market Characteristics
3. Hardware Security Modules Market Trends And Strategies
4. Hardware Security Modules Market – Macro Economic Scenario
5. Hardware Security Modules Market Size And Growth
……………………………………………………………………..
26. Africa Hardware Security Modules Market
27. Hardware Security Modules Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hardware Security Modules Market
29. Hardware Security Modules Market Future Outlook and Potential Analysis
30. Appendix

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