North America Hardware Secure Module (HSM) Adapters Market Size, Share & Industry Trends Analysis Report By Industry, By Type (LAN Based / Network Attached, USB Based, PCI Based and Smart Cards), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Hardware Secure Module (HSM) Adapters Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
HSMs are used by businesses to segregate cryptographic operations relevant to transactions, identities, and applications from routine operations and to manage access to those processes. For instance, a business might utilize an HSM to protect intellectual property or trade secrets by guaranteeing that only authorized users can use the HSM to carry out a transfer of a cryptography key.
The concept of key management as a service (KMaaS) has developed to protect encryption keys in various cloud contexts. These services provide centralized, on-demand HSM-level tools without the requirement to provision hardware. A company can use the same KMaaS to install and maintain the encryption keys it requires across numerous cloud suppliers' services as it grows and broadens the cloud services it utilizes.
KMaaS products provide a number of APIs and uphold the same requirements as on-premises HSMs. In addition, these systems manage encryption keys at a node at the digital edge, reducing latency and enhancing application performance. Along with smaller businesses like Entrust and Thales, major corporations like AWS, Google, IBM, and Microsoft provide cloud KMaaS solutions. As the demand for these solutions increase, it will raise the demand for HSM adapters from the hosts’ side.
The number of linked devices is increasing in several regional nations. Additionally, regional administrations are working harder to integrate their economies. According to the US government, on January 10, 2018, The Connected Federal Act (H.R.2331), which requires mobile-friendliness for recently constructed and updated government agency websites, was signed into law. A report on how agencies might implement the statute and assess their compliance was submitted to Congress in 2019 by the General Services Administration (GSA) and the Office of Management and Budget (OMB). OMB Memorandum M-17-06, Guidelines for Federal Agency Public Websites and Digital Services, is codified in the new law. Therefore, in the coming years, the increasing demand for network security presents immense growth opportunities for regional market.
The US market dominated the North America Hardware Secure Module (HSM) Adapters Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $488.5 Million by 2028. The Canada market is poised to grow at a CAGR of 13.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 12.5% during (2022 - 2028).
Based on Industry, the market is segmented into BFSI, Retail, Transportation, Aerospace & Defense and Others. Based on Type, the market is segmented into LAN Based / Network Attached, USB Based, PCI Based and Smart Cards. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Hardware Secure Module (HSM) Adapters Market is Estimated to reach $2.4 Billion by 2028, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thales Group S.A., Microchip Technology, Inc., Infineon Technologies AG, Atos Group, Hewlett Packard Enterprise Company(HP Development Company L.P.), IBM Corporation, Futurex LP, STMicroelectronics N.V., Utimaco Management GmbH (SGT Capital), and Securosys SA.
Scope of the Study
Market Segments Covered in the Report:
- Aerospace & Defense
- LAN Based / Network Attached
- USB Based
- PCI Based
- Smart Cards
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Thales Group S.A.
- Microchip Technology, Inc.
- Infineon Technologies AG
- Atos Group
- Hewlett Packard Enterprise Company(HP Development Company L.P.)
- IBM Corporation
- Futurex LP
- STMicroelectronics N.V.
- Utimaco Management GmbH (SGT Capital)
- Securosys SA
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