Market Size – USD 771.0 Million in 2019, Market Growth – at a CAGR of 12.0%, Market Trends –Rising incidence of data breaches
NEW YORK CITY, NEW YORK, USA, July 28, 2022 /EINPresswire.com/ — The global hardware security modules market is forecast to reach a market size of USD 1,916.5 Million in 2027, and register a significantly high revenue CAGR over the next seven years, according to a latest report by Reports and Data. Rising demand for hardware security modules can be attributed to increasing adoption of digital payment methods globally. Hardware security modules are mostly used by the banking and financial services industry to provide a high protection level for customer/client PINs and cryptographic keys used in EMV chip and magnetic stripe cards, as well as their corresponding applications used in smart devices. Also, hardware security modules are used in secure processing of payments done using cards (debit and credit cards) and e-wallets. Hardware security modules normally provide native support associated with cryptography for all leading payment applications.
Additionally, hardware security modules significantly improve transaction throughput by managing high volumes of asymmetric and symmetric encryption, which is a crucial prerequisite of payments initiatives, including 3-D Secure and MasterCard CAP.
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Top Profiled in the Hardware Security Modules Market Report:
• Hewlett Packard Enterprise Company
• Ultimaco GmbH
• Atos SE
• Thales E-Security Inc
• IBM Corporation
• Ultra Electronics
• CardContact Systems GmbH.
Product Type Outlook (Revenue, USD Billion; 2017-2027)
• Network-based Hardware Security Modules
• Embedded Hardware Security Modules
• Portable Hardware Security Modules
Application Outlook (Revenue, USD Billion; 2017-2027)
• Payment Processing
• Secure Socket Layer
• Transport Layer Security
• Code and Document Signing
• Database Encryption
• Application Level Encryption
• Credential Management
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
• IT & Telecommunications
• Energy & Utilities
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Key Takeaways of the Hardware Security Modules Market Report:
• A comprehensive overview of the global Hardware Security Modules industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Hardware Security Modules Market.
• Elaborate study of the leading regional markets in the Hardware Security Modules Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Article originally published on www.einpresswire.com as Rising incidence of data breaches