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The Global Hardware Security Modules (HSM) Market is expected to grow from USD 1214.78 million in 2023 to USD 2190.6 million in 2033 at a compound annual growth rate (CAGR) of 10.33%. HSMs are specialized devices that perform secure key management, cryptographic operations, and protect sensitive data, communications, and transactions. The market has seen significant growth due to increased awareness about data security, cyber threats, and regulatory compliance. HSMs are a robust, tamper-resistant solution to protect cryptographic keys, and are in high demand across industries due to the increasing focus on regulatory compliance.