Hardware secure module (HSM) is a physical device that is used to secure cryptographic keys and perform cryptographic operations. HSMs are typically used to secure sensitive data and processes, such as online transactions, credit card processing, and the protection of cryptographic keys. An HSM adapter is a device that allows a computer or other system to communicate with an HSM. The HSM adapter acts as a bridge between the HSM and the system, allowing the system to send commands to the HSM and receive responses.
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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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.
