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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The report is an engaging document that provides vital statistical information about the market in terms of dales, revenue, market share, and market size with regards to product types, application spectrum, regional bifurcation, leading players, and technological advancements.
A comprehensive analysis of the competitive landscape is offered in the report along with a study of the company profiles, product portfolio, manufacturing and production capacity, technological developments, RD advancements, and strategic initiatives of the prominent players of the industry. Prominent players operating in the industry and profiled in the report include Hewlett Packard Enterprise Company, Ultimaco GmbH, Atos SE, SWIFT, Yubico, Futurex, Thales E-Security Inc., IBM Corporation, Ultra Electronics, and CardContact Systems GmbH.
The Global Hardware Security Modules Market is segmented as follows:
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
- Authentication
- Application Level Encryption
- Credential Management
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- BFSI
- IT Telecommunications
- Manufacturing
- Government
- Energy Utilities
- Healthcare
- Retail
- Others
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The report provides an explicit analysis of the market with regards to growth driving factors, restraining factors, regulatory framework, threats and opportunities, financial hurdles to offer a thorough outlook of the market. The report also covers value chain analysis, market share, market size, CAGR, sales and revenue, import/export, the scope of the market, growth prospects,and other key factors.The report offers a regional analysis that covers key geographies such as North America, Europe, AsiaPacific, Latin America, and Middle East Africa.
The report applies advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, along with feasibility analysis and investment return analysis. It also offers strategic recommendations to new entrants as well as established companies about market barriers. It also offers insights into futuristic business opportunities, market scope, threats, and obstacles, to enable fruitful business decision-making process.
Furthermore, the report renders a complete analysis of the Hardware Security Modules market that allows readers to formulate profitable and lucrative business strategies by offering insights into the competitive landscape, crucial market details, growth prospects, regional rules and regulations, and other key factors.
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