The global payment HSMs market in 2019 was approximately USD 51.000 Million. The market is expected to grow at a CAGR of 7% and is anticipated to reach around USD 81.000 Million by 2026.
An HSM stands for a hardware security module. It is a physical adding device that manages and maintains digital solutions for tough verification and delivers cryptoprocessing. These components usually originate in the usage of a plug-in card or else an external method that assigns directly to a computer network server. A hardware security element contains more protected cryptoprocessor chips. A payment HSMs is a tough, tamper-resistant hardware method that remains recycled mostly through the retail banking manufacturing to offer high stages of security for cryptographic sources and client PINs recycled through the issuance of magnetic stripe and EMV chip cards and the following processing of debit card, and credit payment transactions.
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The feature of payment HSMshas supported solutions: The e-Security payment HSMs are the most commonly used all over the world, used to approximation 88 percent of payment card transactions. Decrease Operational Expenditures: Create solutions that allow centralized, streamlined organization of distributed HSM organizations. Build Robust Safety: Arrange tamper-resistant safety components to produce and store keys.
Mobile payment and Online banking markets are growing. Mutually Fintech and recognized companies remain site the innovation, regulation and specific business models. To secure their effectiveness, companies in the financial services and banking business drive aspect toward their sellers to support the contest and comply.
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By type, the payment HSMs market is bifurcated into PCI Based, USB Based, Network-Based, and Java-Based. Due to the serious part, they perform in securing infrastructure and applications, HSMs modules are classically certified toward worldwide recognized prices such are shared criteria or else FIPS 140 toward offer operators by an independent declaration that the design and operation of the invention and cryptographic algorithms remain sound.
By application, the payment HSMs market is bifurcated into industrial and Manufacturing, Banking, Financial Services and Insurance (BFSI), and Government. The payment ecosystem is enduring general disruption. Payment processors, financial giants, banks, and credit card companies require controlled ecosystem payments for times, but then this powerful behavior will conclude to exist by advances in blockchain, FinTech, mobile payments, and virtual banks. Consumer records and regulatory and privacy changes withPSD2 and GDPR will influence the business in unprecedented ways. Solutions after Utimaco for the banking and financial facilities manufacturing generate trust to respond and expect the security, regulatory experiments for non-cash payment market wherever the data is created, stored or shared. Protect the secrecy and reliability of transactions.
The global payment HSMs market report profiles some of the key players operating in the market. The key players in the market areWestone, Gemalto, Thales, Ultra Electronics, Utimaco, SWIFT, Atos SE, Yubico, Micro Focus, Futurex, JN UNION, JN TASS, SPYRUS Inc., Beijing SansecTechnologyand others.
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Key Insights from Primary Research
- As per our major respondents, the payment HSMs market is set to grow annually at a rate of around 7%
- It was established through primary research that the payment HSMs market was valued at around USD 340.00 Million in 2019
- In terms of volume, the payment HSMs market stood at around 51,000.00 K Units, in 2019
- Based on product type segmentation, the “Network-Based” category accounting for around 29% share, in 2019
- Based on application segmentation, the “Banking” category held the leading share at more than 30%, in 2019
Key Recommendations from Analysts
- As per our analysts, North America market is estimated to grow at a CAGR of 7% during 2019-2026
- As per our analysts, the common payment types of payment HSMs include Payment processors, financial giants, banks, and credit cards.
- The payment HSMs product market used in Java-Based, PCI Based, Network-Based, and USB Based.
- North America market accounted for a major revenue share of USD 104% Million in 2019 and continues to lead the payment HSMs market.
- The hardware safety element contains more protected cryptoprocessor chips.
This report segments the payment HSMs Market as follows:
Global Payment HSMs Market: By Type Segmentation Analysis
- PCI Based
- USB Based
Global Payment HSMs Market: By Application Segmentation Analysis
- Industrial and Manufacturing
- Financial Services and Insurance (BFSI)
Europe and MEAPOC Diagnostics Market: Regional Segmentation Analysis
- The UK
- Rest of Europe
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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