Global Cloud Hardware Security Module Market by Type (Public Key Algorithm, Symmetric Algorithm, One-way Hash Algorithm), By Application (Host Application Layer Data Encryption/Decryption, Source Correctness Verification, Key Management) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Cloud Hardware Security Module Market Size is forecast to grow from USD 4.19 Billion in 2020 to USD 5.27 Billion by 2028, at a CAGR of 3.7% during the period 2021-2028. The key factors driving this growth are the increasing number of data breaches and cyberattacks, and the growing demand for data encryption algorithms among enterprises due to compliance with privacy regulations such as GDPR, PCI DSS, HIPAA, etc., which has led companies to invest in cloud infrastructure that includes HSM modules, thereby leading to an increase in adoption of HSM modules worldwide.
A Cloud Security Module (CSM) is a device that stores keys to encrypt and decrypt data in the cloud. A CSM's sole function is to store encryption keys for customers who do not want their own physical hardware storing sensitive information or running proprietary algorithms. The module can be accessed remotely, providing secure access from anywhere with an internet connection. This ensures security while retaining the performance of hosted applications without sacrificing speed or latency time on operations performed by remote servers which are often located at great distances from users' location. These modules are available as either plug-and-play appliances or virtual products, depending on customer needs and preferences.
On the basis of Types, the market is segmented into Public Key Algorithm, Symmetric Algorithm, and One-way Hash algorithm.
Public Key Algorithm:
The public key algorithm is a process for converting messages into unintelligible code, which can only be unlocked by the corresponding private key. This type of encryption requires both a sender and receiver to have a digital certificate in order to encrypt data they want to be kept private from view on the internet or other networks. Data encrypted with this method must be decrypted with the same method used when it was originally created before being sent out onto an unsecured network. The first known use of this technique was in 1973, where researchers published their findings of how to decrypt secret coded communications between two people who shared no secrets but had access to each other's public keys.
Symmetric Algorithm:
The symmetric algorithm is a cryptographic algorithm that uses the same key for both encryption and decryption. The "key" in this case, could either be a password or an asymmetric (public) key. Symmetric algorithms are relatively faster than public-key algorithms because they only require one round of calculations per byte exchanged; however, it has less security due to their use by single key - if someone gets access to the secret key used with these types of algorithms then all communication can be read as well as generated messages.
One-way Hash algorithm:
A one-way hash algorithm is a cryptographic function that takes an input and converts it to a unique output. A key feature of these algorithms is the ability to take in arbitrary length inputs, but their outputs must be fixed lengths. There is no way to reverse engineer a one-way hashing algorithm's digest back into its original data without knowing the secret “key” or password used by the system when generating this particular message. This means they can't reuse old passwords because new ones will always create different messages like "0cccddee" instead of just "password". One-Way Hash Algorithms also make sure any changes made on encrypted files don't affect what you see when decrypting those files as long as the changes made are not in the encrypted file.
On the basis of Application, the market is segmented into Host Application Layer Data Encryption/Decryption, Source Correctness Verification, and Key Management.
Host Application Layer Data Encryption/Decryption:
The Cloud Hardware Security Module is used in the Host Application Layer to encrypt and decrypt data. Encrypting information before it leaves a device or server provides protection against interception, while only authorized users can decrypt the data once they are authenticated.
This layer of encryption is critical when consumers use public Wi-Fi networks at coffee shops, airports, hotels, etc. because there's no centralized point where all transactions take place that could ensure security for those who share connections on these unsecured networks with strangers. When people access sensitive information over such channels this type of encryption protects them from malicious intruders who might exploit vulnerabilities in their browser settings or operating systems as well as traditional web attacks targeting SSL/TLS protocols like man-in-the-middle or session hijacking.
Source Correctness Verification:
They are also utilized for source correctness verification so that the originating location from where data was sent can be authenticated by cryptographic methods instead of depending on network routing information alone. Cloud providers use these modules when they provide services such as storage space, security monitoring, file sync/backup, etc. because it restricts access to sensitive data over public networks like the internet while still allowing remote accessibility through encrypted channels (VPN tunnel).
Key Management:
In this sector, customers are typically responsible for generating and managing their own encryption keys and data security measures while service providers offer resources on-demand. Another major reason behind the popularity of hardware modules such as these is that they provide a better level of protection than software-based approaches do against malware attacks or inadvertent disclosure incidents.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the biggest market for Cloud Hardware Security Module in terms of revenue generation accounting for over one-third of global sales.
The Asia Pacific has been witnessing the fastest growth rate among all regions which will continue during the forecast period due to increased awareness about data protection measures among countries like India and China and growing capabilities from small businesses to adopt this technology.
Growth Factors For The Global Cloud Hardware Security Module Market:
The global Cloud Hardware Security Module market has been witnessing steady growth due to the increasing number of cyber-attacks and data breaches. The rise in adoption of this technology is attributed to increased investments from small businesses as they have a budget ranging from $15,000-$100,000 for hardware security module installation which will be used on an annual basis.
Cloud computing is revolutionizing the IT ecosystem with new challenges that need to be addressed such as managing cloud risks associated with moving sensitive information online; public-key encryption algorithm provides higher levels of confidentiality within your system than symmetric algorithms do but it comes at a cost - the machine needs additional storage capacity when operating in asymmetric mode while one-way hash algorithms are less expensive both computationally and in terms of memory requirement.
Up Market Research published a new report titled “Cloud Hardware Security Module Market research report which is segmented by Types (Public Key Algorithm, Symmetric Algorithm, One-way Hash Algorithm), By Applications (Host Application Layer Data Encryption/Decryption, Source Correctness Verification, Key Management), By Players/Companies Huawei, Alibaba, Tencent, Chinese Constraction Bank, Google, Amazon, Microsoft Corporation, Cisco Systems”.
Report Scope
Report Attributes | Report Details |
Report Title | Cloud Hardware Security Module Market Research Report |
By Type | Public Key Algorithm, Symmetric Algorithm, One-way Hash Algorithm |
By Application | Host Application Layer Data Encryption/Decryption, Source Correctness Verification, Key Management |
By Companies | Huawei, Alibaba, Tencent, Chinese Constraction Bank, Google, Amazon, Microsoft Corporation, Cisco Systems |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 212 |
Number of Tables & Figures | 149 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Cloud Hardware Security Module Market Report Segments:
The market is segmented by Type Public Key Algorithm, Symmetric Algorithm, One-way Hash Algorithm and By Application Host Application Layer Data Encryption/Decryption, Source Correctness Verification, Key Management.
Some of the companies that are profiled in this report are:
- Huawei
- Alibaba
- Tencent
- Chinese Constraction Bank
- Amazon
- Microsoft Corporation
- Cisco Systems
Cloud Hardware Security Module Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Cloud Hardware Security Module Market
Overview of the regional outlook of the Cloud Hardware Security Module Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Cloud Hardware Security Module Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Cloud Hardware Security Module Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Public Key Algorithm
2. Symmetric Algorithm
3. One-way Hash Algorithm
7. By Application:1. Host Application Layer Data Encryption/Decryption
2. Source Correctness Verification
3. Key Management
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cloud Hardware Security Module Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Cloud Hardware Security Module Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cloud Hardware Security Module Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cloud Hardware Security Module Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cloud Hardware Security Module Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cloud Hardware Security Module Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cloud Hardware Security Module Market Size & Forecast, 2018-2028
4.5.1 Cloud Hardware Security Module Market Size and Y-o-Y Growth
4.5.2 Cloud Hardware Security Module Market Absolute $ Opportunity
Chapter 5 Global Cloud Hardware Security Module Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cloud Hardware Security Module Market Size Forecast by Type
5.2.1 Public Key Algorithm
5.2.2 Symmetric Algorithm
5.2.3 One-way Hash Algorithm
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cloud Hardware Security Module Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cloud Hardware Security Module Market Size Forecast by Applications
6.2.1 Host Application Layer Data Encryption/Decryption
6.2.2 Source Correctness Verification
6.2.3 Key Management
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cloud Hardware Security Module Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cloud Hardware Security Module Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cloud Hardware Security Module Analysis and Forecast
9.1 Introduction
9.2 North America Cloud Hardware Security Module Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cloud Hardware Security Module Market Size Forecast by Type
9.6.1 Public Key Algorithm
9.6.2 Symmetric Algorithm
9.6.3 One-way Hash Algorithm
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cloud Hardware Security Module Market Size Forecast by Applications
9.10.1 Host Application Layer Data Encryption/Decryption
9.10.2 Source Correctness Verification
9.10.3 Key Management
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cloud Hardware Security Module Analysis and Forecast
10.1 Introduction
10.2 Europe Cloud Hardware Security Module Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cloud Hardware Security Module Market Size Forecast by Type
10.6.1 Public Key Algorithm
10.6.2 Symmetric Algorithm
10.6.3 One-way Hash Algorithm
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cloud Hardware Security Module Market Size Forecast by Applications
10.10.1 Host Application Layer Data Encryption/Decryption
10.10.2 Source Correctness Verification
10.10.3 Key Management
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cloud Hardware Security Module Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cloud Hardware Security Module Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cloud Hardware Security Module Market Size Forecast by Type
11.6.1 Public Key Algorithm
11.6.2 Symmetric Algorithm
11.6.3 One-way Hash Algorithm
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cloud Hardware Security Module Market Size Forecast by Applications
11.10.1 Host Application Layer Data Encryption/Decryption
11.10.2 Source Correctness Verification
11.10.3 Key Management
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cloud Hardware Security Module Analysis and Forecast
12.1 Introduction
12.2 Latin America Cloud Hardware Security Module Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cloud Hardware Security Module Market Size Forecast by Type
12.6.1 Public Key Algorithm
12.6.2 Symmetric Algorithm
12.6.3 One-way Hash Algorithm
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cloud Hardware Security Module Market Size Forecast by Applications
12.10.1 Host Application Layer Data Encryption/Decryption
12.10.2 Source Correctness Verification
12.10.3 Key Management
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cloud Hardware Security Module Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cloud Hardware Security Module Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cloud Hardware Security Module Market Size Forecast by Type
13.6.1 Public Key Algorithm
13.6.2 Symmetric Algorithm
13.6.3 One-way Hash Algorithm
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cloud Hardware Security Module Market Size Forecast by Applications
13.10.1 Host Application Layer Data Encryption/Decryption
13.10.2 Source Correctness Verification
13.10.3 Key Management
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cloud Hardware Security Module Market: Competitive Dashboard
14.2 Global Cloud Hardware Security Module Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Huawei
14.3.2 Alibaba
14.3.3 Tencent
14.3.4 Chinese Constraction Bank
14.3.5 Google
14.3.6 Amazon
14.3.7 Microsoft Corporation
14.3.8 Cisco Systems