Current growth of Hardware Security Modules Market segments.

Posted July 12, 2022 by prashantvi

The Hardware security modules market is expected to grow at a CAGR of 11.6 %, from USD 1.1 billion in 2021 to USD 1.8 billion in 2026.
The global Hardware security modules market is expected to grow from USD 1.1 billion in 2021 to USD 1.8 billion by 2026, at a CAGR of 11.6%. The market is expected to grow to the increasing demand of medical and life sciences products in healthcare industry.

The Hardware security modules market for medical & life sciences is expected to grow at the highest CAGR during the forecast period. In the field of healthcare, hardware security modules are significant primarily for the telematics infrastructure (TI), such as that of the new electronic health card (eGK) in Germany. The main objective of eGK was to enable cross-system registration and processing and transmission of patient data between trusted participants such as physicians, care providers, medical practices, hospitals, pharmacies, and health insurers within a secure network. It is mandatory for pharmaceuticals companies developing new medicines to follow the standards of security and privacy. These companies also undergo regular audits. In the case of remote secure access, a cloud-based solution allows pharmaceuticals companies to eliminate paper work, share documents easily, automate document handling, and capture regulatory-compliant signatures on handheld devices such as tablets and smartphones. Cloud signing solutions help pharmaceuticals companies save substantially on shipping charges and accelerate time to market and development of new drugs.

• Download PDF Brochure @

The market for cloud HSM is expected to grow at the highest CAGR during the forecast period. Hardware security modules deployed on the cloud offer the dynamic and virtualized attributes of cloud computing environments. In cloud deployment, cloud service providers only manage the hardware security modules without access to the key. Cloud-based deployment ensures that neither the host CSP nor any external party can access or use cryptographic keys from any backup. With cloud-based hardware security modules, customers have absolute control and authority over keys through separation of duties.

The adoption of cloud-based hardware security modules is anticipated to be high compared with on-premise hardware security modules in the near future because of the performance/availability benefits, as cloud-based deployment reduces network transit times. Utimaco, Gemalto, Microsoft, Amazon, Thales, and IBM, among other such companies, have started offering cloud-based hardware security modules that empower cloud users to implement a high level of cryptographic security.

Cloud-based hardware security modules help comply with key management requirements without affecting application performance. Cloud-based hardware security modules offer the most cost-effective solution, as the cost starts as low as USD 4 an hour and can go up to USD 1,300 per month. For instance, IBM offers cloud-based hardware security modules starting as low as USD 1,250 per month, while Microsoft offers an hour of usage at about USD 4. The cloud solution by IBM enables its customers to solve complex security, compliance, data sovereignty, and control challenges associated with migrating and running workloads on the cloud. The cost-effectiveness of cloud deployment is anticipated to largely drive the overall growth of the market.

The Hardware security modules market for Europe is expected to hold the largest market share. The European market for hardware security modules has been segmented into Germany, the UK, France, Italy, the Netherlands, and the Rest of Europe. The thriving BFSI, IT & Telecommunications, and medical and life sciences, along with the automotive industry in the region, act as an opportunity for the market. The growth of 4G LTE technology in the region and ongoing developments and smaller deployments of 5G infrastructure are expected to drive the need for enhanced network security, leading to increased demand for hardware security modules across the IT and telecommunications sector.
View detailed Table of Content here -

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By marketsandmarkets
Country United States
Categories Electronics
Tags hardware security modules market
Last Updated July 12, 2022