Security News > 2022 > February > Hardware security modules market to reach $7.9 billion by 2028

The global hardware security modules market size was valued at $3.1 billion in 2020 and is projected to reach $7.9 billion by 2028, growing at a CAGR of 12.4% from 2021 to 2028, according to Verified Market Research.

With the rising frequency and complexity of data security threats, the need for implementing a data security threat is prevalent and one of the factors contributing to the market growth.

The increasing adoption of hardware security modules in various end-use industries like banking and financial services, government, technology, and communications, manufacturing, utility and energy, retail, healthcare, and life sciences drive the market for hardware security modules.

Hardware security modules market expansion barriers.

Organizations are finding that next-generation hardware security modules and keys management capabilities offered as a subscription-based approach deliver powerful data protection and reduced the total cost of ownership.

For managing the entire life cycle of keys, hardware security modules are used.

News URL

https://www.helpnetsecurity.com/2022/02/25/hardware-security-modules-2028/