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Worldwide Hardware Security Modules Revenue Forecast, 2017–2021: First Look

Worldwide Hardware Security Modules Revenue Forecast, 2017–2021: First Look

This IDC study included interviews with HSM users, manufacturers, and installers. It also included a review of current and historical financial information to validate and support growth projections for the 2016–2021 period. Key findings from this forecast are as follows:IDC forecasts the market for general-purpose HSMs to grow significantly, rising at a five-year compound annual growth rate of 12.1%, reaching $679.5 million in 2021. This growth is driven by organizations taking advantage of the increased flexibility general-purpose HSMs provide over payment authorization HSMs. IDC projects the market for payment authorization HSMs to grow at a healthy five-year compound annual growth rate of 7.0%, reaching $403.9 million by 2021. Growth will be fueled by HSM refreshes, potential updates to HSM certification requirements maintained by the Payment Card Industry Data Security Standards Council, and the need to meet increased processing demand. "IDC's first examination of the worldwide market for hardware security modules (HSMs) found strong growth for these products driven by the need to protect critical data residing in public cloud services. HSMs are also emerging as a secure method to track and validate the integrity of internet of things device identity and ensuring the trust required to validate the integrity of cryptocurrency transactions. The HSM market is expected to achieve double-digit growth over the next five years as organizations increasingly focus on the visibility and control of their precious data assets," said Robert Westervelt, research manager and lead of IDC's Data Security practice.


IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Market Context
Drivers and Inhibitors
Drivers
Digital Transformation
IoT Device Proliferation
Cloud Adoption and Government Intrusion
Inhibitors
Cloud-First Strategy
Compliance Fatigue
Significant Market Developments
Changes from Prior Forecast
Market Definition
Methodology
Historical Market Values and Exchange Rates
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