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.