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The hardware security modules market size is forecast to increase by USD 929.2 million at a CAGR of 11.3% between 2023 and 2028. The hardware security modules (HSMs) market is witnessing significant growth due to the increasing importance of physical device security in safeguarding cybersecurity systems. The adoption of cryptographic methods for securing digital assets, such as patient identity and credential management, is driving market expansion. Two emerging technologies, cloud computing and edge computing, are also fueling the demand for HSMs. While cloud-based HSMs offer cost savings and flexibility, on-premises HSMs provide greater control and security. However, the high initial acquisition costs remain a challenge for market growth. Furthermore, the advent of quantum computing poses a potential threat to traditional encryption methods, necessitating the development of quantum-safe HSMs. In summary, the HSM market is experiencing steady growth due to the rising use of digital payments and Internet banking, the adoption of cloud-based HSMs, and the need for advanced security solutions to protect against evolving cyber threats.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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