HYDERABAD, India, April 17, 2026 /PRNewswire/ — According to Mordor Intelligence latest report, the hardware security modules market was valued at USD 1.98 billion in 2025 and is projected to grow from USD 2.18 billion in 2026 to USD 3.51 billion by 2031, registering a CAGR of 10.02% during the forecast period (2026–2031). The hardware security modules market growth is driven by increasing cybersecurity investments and rising demand for secure key management solutions, in line with evolving digital security requirements. The market expansion is further supported by the growing adoption of cloud computing, increasing demand for data protection and encryption solutions, and tightening regulatory compliance requirements for digital infrastructure. Expanding deployment of encryption…