Point-to-Point Encryption to Surge Market Demand for Hardware Security Modules

San Francisco, California, July 31, 2018 – The global hardware security modules market is anticipated to witness a significant growth due to rising rates of cyber-crimes, information breaches, and hacking. This has resulted in the compulsion for HSM makers to follow the internal and external information security rules and privacy measures. It has as well boosted the significance of successful administration of cryptographic keys.

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One of the major scope in the global hardware security modules market is the surging demand for information security inside the cloud scenario. Today Cloud innovation has turned out to be to a very popular and firms of all level, both small and big are extensively using Cloud for infrastructure, capacity, and virtual resources. The developing utilization of cloud is prognosticated to drive the development scope of the hardware security modules market all over the world. Another critical pattern that is impacting the development of this market is the accomplishment of point-to-point encryption as per PCI norms. Nevertheless, the market faces challenges as the failure to control the key administration from outside, high expenses, HSM physical security limit, and absence of understanding the significance of securing information by firms.

The rapidly developing requirement for successful administration of cryptographic keys among companies has accelerated the demand for HSMs. Moreover, the improvement of customized and affordable solution is foreseen to pave lucrative pathways for the market in the forthcoming years. Generally, these solutions empower better interoperability with other encryption administration solutions as well, reinforcing its usage.

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Geographically, Latin America region is likely to dominate the global hardware security modules. This is credited to the imposition of different administrative compliances and risen popularity of advanced innovations, for example, IOT and cloud computing. Some of the major players are currently offering personalized HSM solutions, basically centered around blockchain innovation and cloud-based applications, to have an edge over others.

Hardware Security Modules Market Robust pace of Industry by 2025

Global Hardware Security Modules Market: Overview 

A hardware security module (HSM) is a physical, tamper-resistant computing device that performs several cryptographic processes and help organizations manage keys associated with these processes. These devices can protect several critical data processing activities related with server-based applications and provide robust authentication and dedicated crypto processing. HSMs are extensively used by organizations to implement their security policies and effectively manage their access controls. Most commonly, enterprises around the world deploy these modules for the purposes of authentication, application level encryption, payment processing, and Secure Sockets Layer (SSL). Mounting concerns related to privacy of payment processes and security of enterprise data have resulted in the evolution of the hardware security module market. Furthermore, the rise in mobile payment schemes and stringent data security standards are expected to drive the HSMs market. 

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Global Hardware Security Modules Market: Key Trends 

A surge in data security breaches in organizations and the increasing number of cyber-attacks are the key factors driving the hardware security modules market. Intensifying regulatory requirement compelling enterprises to comply with various proprietary information security standards has propelled the global HSMs market. For instance, the contractual enforcement of Payment Card Industry Data Security Standard (PCI DSS) in major countries such as the U.S., Canada, and Australia is expected to boost the deployment of HSMs in organizations across the world.

The rapidly growing need for effective management of cryptographic keys among organizations has spurred the demand for HSMs. In addition, the development of cost-effective and customized solutions is anticipated to create lucrative avenues for the market over the forecast period. Usually, these solutions also enable better interoperability with other encryption management solutions bolstering its implementation. 

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Global Hardware Security Modules Market: Market Potential

The deployment of HSMs has become an integral part of cryptographic key management policies for a large number of organizations, particularly in the financial services industry. Thales, a leading provider of cybersecurity and data security solutions based in France, announced in April, 2017 that it has integrated its prominent solution nShield HSMs with Chain, a major provider of enterprise-grade blockchain infrastructure. The integration that includes its Chain Core, its key enterprise software, will help the company’s major strategic partners—Nasdaq, Citigroup, and Visa—to benefit from blockchain networks and build modern financial products and services. The integrated nShield HSMs will enable numerous companies in the financial sector to implement secure models for payment transactions among organizations and will facilitate the safe use of the blockchain technology.

The technology company, Chain, believes that significant cost savings, speedy transactions, and enhanced data quality are some of the several benefits of an integrated HSM. An effective management of cryptographic keys is critical to blockchain technology and Chain will use the Thales nShield HSM to generate new set of one-time keys for every transaction, along with securing these keys. Chain has developed the Chain Key Derivation algorithm using CodeSafe technology from Thales to provide improved capability to manage more sensitive applications across blockchain platform. Such developments bode well for the growth of the global HSMs market.

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Global Hardware Security Modules Market: Regional Outlook 

Latin America is a prominent market for hardware security modules. The increased demand is attributed to the advent of various regulatory compliances and increased adoption of advanced technologies such as cloud computing and the IoT. The upsurge in losses arising out of remediating customer frauds due to data breaches has encouraged numerous organizations in Latin American countries to deploy HSMs.

Asia-Pacific is anticipated to offer lucrative opportunities for players in the HSMs market. Substantial investments in data security technologies by several companies in emerging markets like China and India have boosted the uptake of HSMs, thereby fuelling the Asia Pacific market for HSMs. 

Global Hardware Security Modules Market: Competitive Analysis 

Several vendors are actively offering customized HSM solutions, mainly focused on cloud-based applications and blockchain technology, to gain a competitive edge over others. Key players vying for a sustained share in the hardware security modules market include Gemalto NV, Thales e-Security, Inc., Utimaco GmbH, International Business Machines Corporation, Hewlett Packard Enterprise, FutureX, SWIFT, Atos SE, Ultra-Electronics, and Yubico.

Want for Hardware Security Modules Rising due to Need to Manage Access Controls

San Francisco, California, May 19, 2017: The global hardware security modules (HSM) market is driven by the rising needs from organizations to protect their critical data processing activities by offering authentication and dedicated crypto processing. Increasing concerns regarding privacy of payment processes is fueling the adoption of hardware security modules by organizations. TMR Research in its latest report, studies the global hardware security module (HSM) market. The report is titled “Hardware Security Modules Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” The demand for HSM is escalating as it is a tamper-resistant computing device that enables organizations to perform several cryptographic processes and also manage the associated keys with these processes.

Organizations are making use of HSMs to manage their access controls and implement security policies, which is in turn driving the hardware security modules market. Across the globe, enterprises are making use of these systems to process their payments, authenticate processes, to enable application level encryption, and implement secure sockets layer (SSL). Some of the other factors boding well for the global hardware security modules market include a surge in the number of cyber attacks, increase in the stringency of data security standards, and escalating use of mobile payments. Regulatory bodies mandate enterprises to comply with the various proprietary information security standards, further encouraging the adoption of hardware security modules. A case in point would be Payment Card Industry Data Security Standard (PCI DSS), which is implemented across countries such as Canada, Australia, and the U.S. The enforcement of this standard has boosted the deployment rates of HSMs in these countries.

On the basis of geography, Asia Pacific is anticipated to be an upcoming potential market for hardware security modules. Extensive investments are being made across countries such as China and India in this region to implement data security technologies, boosting the adoption rates of hardware security modules. Latin America is also showing growth potential in the HSM market, on account of the growing implementation of regulatory compliances. An increase in the number of losses owing to customer frauds and data breaches have pushed organizations in this region to deploy HSMs. Moreover, there has been a surge in the adoption of advanced technologies such as IoT and cloud computing, which is creating a favorable environment for the growth of the hardware security modules market in Latin America.

Key players profiled in the report include: Utimaco GmbH, Gemalto NV, FutureX, Thales e-Security, Inc., Ultra-Electronics, International Business Machines Corporation, SWIFT, Hewlett Packard Enterprise, Atos SE, and Yubico.