Published Date: 24-Nov-2022
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According to a new report, published by KBV research, The Global Hardware Security Modules Market size is expected to reach $2.2 billion by 2028, rising at a market growth of 12.8% CAGR during the forecast period.
The Cloud market is leading the Global Hardware Security Modules Market by Deployment Type in 2021; thereby, achieving a market value of $1.5 billion by 2028. This is primarily attributed to its capacity to execute cryptographic operations and give clients total control over their keys via the separation of tasks. Cloud-based HSMs allow customers to grow rapidly by adding and withdrawing HSM capacity on-demand, without incurring any upfront expenditures.
The Authentication market is exhibiting a CAGR of 12.5% during (2022 - 2028). The increasing growth of the segment is ascribed to the rapidly growing number of cyber-attacks all over the world, which is bolstering the demand for hardware security modules. In addition, there is also a number of other causes that are facilitating the expansion of this segment.
The LAN Based/ Network Attached market is generating high revenue in the Global Hardware Security Modules Market by Type in 2021; thereby, achieving a market value of $1.1 billion by 2028. LAN-based HSMs are built over high-performance and secure network servers for encryption services as well as digital signature applications, independent of the operating system on which they reside.
The Aerospace & Defense market is showcasing a CAGR of 13.6% during (2022 - 2028). The rapid surge in the growth of the segment is primarily attributed to the fact that hardware systems within this sector comprises a significant amount of sensitive data. In order to protect this data, the requirement for HSMs is accelerating in this sector.
The Europe market dominated the Global Hardware Security Modules Market by Region in 2021; thereby, achieving a market value of $747.4 million by 2028. The Asia Pacific market is poised to grow at a CAGR of 13.6% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 12.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Amazon.com, Inc., IBM Corporation, Microchip Technology, Inc., Thales Group S.A., Atos Group, Futurex LP, STMicroelectronics N.V., Lattice Semiconductor Corporation and Infineon Technologies AG
By Deployment Type
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