HSM Convergence Accelerating to Deliver a US$229 Million Service-Based Market Opportunity by 2027

PRNewswire March 29, 2023

NEW YORK, March 29, 2023 /PRNewswire/ — Hardware Security Module (HSM) technologies continue accelerating toward application-first market solutions. Underpinned by converged platform offerings, vendors now focus on the opportunities delivered from a service-based perspective, according to a new report by global technology intelligence firm ABI Research.

ABI 2021 Logo

“The strict separation between general-purpose and payment HSMs is dissolving quickly,” explains Michela Menting, Cybersecurity Applications Research Director at ABI Research. “In their latest flagships, many HSM original equipment manufacturers opt to provide just one converged hardware platform tailored to the applications through software packages.” Most HSM OEMs seek to provide all the necessary certifications (FIPS 140-3, PCI PTS HSM v2, and increasingly CC+ EAL) as a baseline for that converged hardware. The differentiation then becomes a software and licensing matter that can be easily modified and configured remotely, enabling users to service new applications as their business evolves.┬á

This malleability from a software perspective is key to unlocking the potential of the service-based HSM opportunity, whether managed or hosted (HSM-as-a-Service). Both for enterprise users and managed service providers, it allows for repurposing the HSM for other applications without purchasing new hardware. Further, with advances in hardware capabilities for multi-tenancy and virtualization, HSMs can offer greater multi-usage performance. ABI Research forecasts service-based revenue to reach US$229 million globally by 2027. 

“Better understanding by enterprises of the need to leverage trusted services for their cloud migration and digital transformation is a significant driver for HSM applications, with OEMs targeting new markets and use cases not only in the enterprise (SMBs) but also in manufacturing, automotive, telco, and utilities. The HSM market is constantly evolving and ripe for innovation,” Menting concludes.

Top HSM OEMs in the space include Crypto4A, Entrust, Futurex, IBM, Kryptus, Marvell, Sansec, Securosys, Thales, and Utimaco.

These findings are from ABI Research’s Hardware Security Modules market data report.┬áThis report is part of the company’s┬áCybersecurity Applications┬áresearch service, which includes research, data, and ABI Insights.┬áMarket Data┬áspreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.

About ABI Research

ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.

ABI Researchµÿ»õ©ÇÕ«ÂÕø¢ÚÖàþºæµèǵâàµèÑÕà¼ÕÅ©´╝îõ©║Õà¿þÉâþºæµèÇÚóåÞóûÒÇüÕêøµû░õ║║Õú½ÕÆîÕå│þ¡ûÞÇàµÅÉõ¥øÕ«×þö¿þÜäÕ©éÕ£║þáöþ®ÂÕÆîµêÿþòѵǺµîçÕ»╝ÒÇéµêæõ╗¼Õ»åÕêçÕà│µ│¿õ©ÇÕêçõ©║ÕÉäÞíîÕÉäõ©ÜÒÇüÕà¿þÉâþ╗ŵÁÄÕÆîÕè│Õè¿Õ©éÕ£║Õ©ªµØÑÚóáÞªåµÇºÕÅÿÚØ®þÜäÕêøµû░õ©Äµèǵ£»ÒÇé

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit┬áwww.abiresearch.com.

Contact Info:

Deborah Petrara 
Tel: +1.516.624.2558 

Cision View original content:https://www.prnewswire.com/apac/news-releases/hsm-convergence-accelerating-to-deliver-a-us229-million-service-based-market-opportunity-by-2027-301784216.html


AAPR aggregates press releases and media statements from around the world to assist our news partners with identifying and creating timely and relevant news.

All of the press releases published on this website are third-party content and AAP was not involved in the creation of it. Read the full terms.