MarketsandMarkets Presents

Cloud segment is expected to hold the largest share during the forecast period

The cloud segment is expected to hold a larger market share by 2027. This is primarily due to its ability to perform cryptographic operations and provide customers with absolute control over keys through separation of duties. Cloud-based HSMs enable users to scale quickly by adding and removing HSM capacity on-demand, with no upfront costs. Enterprises employ cloud-based HSM when they want to test or pilot a variety of HSM services from different vendors with little upfront investment before choosing one. Additionally, it is useful in organizations where workloads are less and where the requirements for application performance and latency are not as strict as those that demand for an on-premise HSM to be dedicated to them.