Hardware Security Modules Market - Global Forecast to 2022
“The hardware security modules market is likely to grow at a CAGR of 12.87% during the forecast period” The hardware security modules market is expected to reach USD 1,101.2 million by 2022, at a CAGR of 12.87% during the forecast period. The growth of the market is driven by various factors such as the increase in data breaches and cyber attacks, mandates for HSM manufacturers to comply with internal and external privacy and data security regulations, and effective management of cryptographic keys. However, factors such as the cost associated with the hardware security modules is expected to limit the market growth for a short period of time. “USB-based/portable HSM would witness a high growth rate during the forecast period” The market for USB-based/portable HSM is expected to grow at the highest CAGR between 2017 and 2022. The USB-based/portable HSMs are ideally suitable for offline situations where the HSM is stored in a physical safe when not in use, or where the HSM...