Hardware Security Module Market Size, Landscape, Business Outlook, Current and Future Growth By 2029

1. Growing Data Security Concerns to Prolong Growth Trajectory of Global Hardware Security Module Market Today, businesses gather data from their customers and store it in different databases. This data can be used for various purposes by organisations. However, it is highly vulnerable and runs the risk of getting misused by cybercriminals. In some cases, it has been found that even encrypted data can get leaked after its private keys got hacked. To avoid such situations, companies are deploying hardware security modules (HSM). HSM is a cryptographic hardware system that conducts encryption and decryption operations in a protected environment. These modules are also being employed in healthcare industry to safeguard patient data. Growing number of e-banking and other forms of online financial transactions is also creating an incentive to adopt HSMs. Such unprecedented shifts are expected to unlock new revenue opportunities for the global hardware security module market. Protection of Patient’s Data to Sustain Hardware Security Module Market Growth The ongoing digitization of the healthcare system has led to the integration of healthcare APIs. It is expected to revolutionize the process of data transfer from EHR to remote patient monitoring systems, mobile health applications, and wearable devices. This makes sensitive patient data susceptible to cyber hacks. Therefore, hardware security modules are poised to play a crucial role in the healthcare industry. The hardware security modules have also found their applications in telematics infrastructure (TI). Its major goal is to facilitate healthcare experts and health insurers to securely process and transmit patient data among various systems. Several pharmaceutical industry players are also adopting this system. Against this backdrop, the global hardware security module market is projected to grow at a rapid pace. Get Sample Copy ofHardware Security Module Market: https://www.fairfieldmarketresearch.com/report/hardware-security-module- market/request-sample Rising E-banking Usage to Elevate Demand for Hardware Security Module The growing trend of remote work policies post-pandemic has significantly bolstered the use of online data-sharing applications. This has led to the rise in digital transition processes, especially across financial organisations. In addition to this, the surging e-banking usage coupled with high online purchases has created a demand for hardware security modules. Furthermore, the growing use of third-party payment applications and mobile banking has also added to the trend. This is incentivising financial institutions to adopt robust hardware security modules to simplify cryptographic operations. Financial firms are also using HSM to manage security applications and offer protection to critical payment data and transactions. This is projected to unravel tremendous growth potentials for the hardware security module market. Paced 4G LTE Expansion to Establish Europe’s Market Dominance

2. Europe is experiencing the growing expansion of 4G LTE technologies. In addition, the region is continuously working on 5G infrastructure projects and small-scale deployments have already begun. This in turn is expected to boost the demand for hardware security modules in the regional IT and telecommunications sectors. In addition, various industries including BFSI, automobile, healthcare, and life sciences are further projected to create numerous opportunities for the regional hardware security module market. Moreover, the region is also a leader in terms of deploying sophisticated cybersecurity measures and regulations. Prominent Market Players Some of the most competitive market players in the global hardware security module market include Kryptoagile, Atos, Nitrokey, Adweb Technologies, Entrust Corporation, SPYRUS, Inc., Thales Group (Gemalto), Ultra Electronics, Securosys, Utimaco GmbH, Yubico, Futurex, and IBM Corporation. For More Information ofHardware Security Module Market: https://www.fairfieldmarketresearch.com/report/hardware-security-module-market About Us Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness. Contact Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746 Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com Follow Us: LinkedIn