Hardware security module (HSM) is a management solution that provides protection against the evolving data threats to private (digital) keys and certificates. The device requires certification to internationally recognized standards such as federal information processing standards (FIPS) 140, common criteria that provides the product design and implementation assurance. The global hardware security modules market is expected to witness potentially huge growth opportunities in the coming years, on account of surge in technological advancements, which created an essential demand for information systems security solutions, worldwide.
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Latin America is expected to register the highest growth in the market, during the forecast period, on the back of huge investments in communication network infrastructure in the region, which is expected to shoot up the demand for hardware security modules for information security. High anticipated growth in Asia-Pacific HSM market can be attributed to growing emphasis on digitization of transaction systems. The demand for USB-based or portable plugin HSMs is also expected to grow during the forecast period due to its varied benefits such as lower cost as compared to LAN-based HSMs and embedded plugin HSMs, compact size and portability feature.
With the increasing penetration of internet, adapting to information systems to ease various operational processes has become essential for organizations as well as individuals. The demand for USB-based or portable HSMs has been increasing owing to their suitability in offline situations, where the hardware security module can be stored in a safe place while not in use, or if the HSM needs to be portable. The features of USB-based hardware security modules, such as portability and USB connectivity, ensure its suitability with laptops, desktops, or workstations, in turn making USB-based HSM the fastest growing market among the various types.
Hardware security modules are essentially required by organizations to protect customers trust in an increasingly digitized world, while ensuring full-proof protection against cybertheft and other forms of data thefts. Statistics have shown that a huge number of intrusions in information systems have been causing significant financial losses to companies, and hence restoring the system operation needs further investments and has time restraints.
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The key players in the hardware security module market include Gemalto NV, Thales e-Security Inc., Utimaco GmbH, International Business Machines Corporation, FutureX, Spyrus Inc., Hewlett-Packard Enterprise Development LP, SWIFT, Atos SE, Ultra-Electronics, and Yubico.
HARDWARE SECURITY MODULES MARKET SEGMENTATION
- LAN Based
- PCle Based
- USB Based
- Payment Processing
- Authentication Code and Document Signing
- Application Level and Database Encryption
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