According to a new report published by Allied Market Research, titled, “Hardware Secure Module (HSM) Adapters Market by Type (LAN Based/Network Attached, PCI Based, USB Based, Smart Cards), by Industry (Transportation, Retail, Aerospace and defense, Banking Financial Services and Insurance, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031,” the hardware secure module (HSM) adapters market was valued at $1.3 billion in 2021, and is estimated to reach $4.4 billion by 2031, growing at a CAGR of 13% from 2022 to 2031.
Competitive analysis and profiles of the major global hardware secure module (HSM) adapters market players that have been provided in the report include Atos SE, Hewlett Packard Enterprise Development LP, Infineon Technologies, International Business Machines Corporation, Microchip Technology, Securosys, Spyrus, Thales, Utimaco, and Yubico.
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As 5G becomes more widely adopted, there is likely to be an increase in the demand for HSMs to secure the various applications and systems that will be using it. This is because 5G is expected to support a much larger number of devices and a wider range of applications than previous generations of wireless technology, and will require a higher level of security to protect against cyber threats and other types of attacks. In addition, the increased speed and capacity of 5G networks is likely to increase the demand for HSMs to secure data transmitted over these networks, as the volume of data being transmitted is expected to significantly increase.
Due to the rise in cyberattacks, surge in usage of cloud-based services, and rise in preference for digital payments, the hardware secure module (HSM) adapters industry is anticipated to expand significantly during the forecast period. There has been a trend in recent years towards an increase in the preference for digital payments, and this trend is likely to have also affected the hardware secure module (HSM) adapters market growth. Digital payments refer to the use of electronic means, such as credit cards, debit cards, and mobile payment apps, to make and receive payments, rather than using cash or checks.
The hardware secure module (HSM) adapters market analysis is based on by type, industry and region.
Among type, the LAN Based/Network Attached segment was the highest contributor to the market in 2021. Financial institutions, governmental organizations, and healthcare facilities are examples of settings where LAN-based HSMs are frequently employed to secure sensitive data and transactions.
Among industry, the BFSI segment was the highest revenue contributor in 2021. In the banking, financial services, and insurance (BFSI) industry, HSMs are often used to secure financial transactions, such as payment processing and online banking. The BFSI industry is a high-value target for data breaches, and there is increased concern about the security of sensitive data and systems. HSMs can help protect against these types of attacks by securely storing and managing sensitive data and only releasing it when authorized.
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Region-wise, the hardware secure module (HSM) adapters Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe and Asia-Pacific remains a significant participant in the hardware secure module (HSM) adapters market.
Hardware Secure Module (HSM) Adapters Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2031 | USD 4.4 billion |
| Growth Rate | CAGR of 13% |
| Forecast period | 2021 – 2031 |
| Report Pages | 335 |
| By Type | LAN Based/Network Attached PCI Based USB Based Smart Cards |
| By Industry | Transportation Retail Aerospace and defense Banking Financial Services and Insurance Others |
| By Region | North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa) |
| Key Market Players | Yubico, Hewlett Packard Enterprise Development LP, Thales, Securosys, International Business Machines Corporation, spyrus, Utimaco GmbH, Microchip Technology Inc., Infineon Technologies, Atos SE |