From an IT security perspective, using an HSM to protect private keys is highly recommended. A Hardware Security Module is particularly useful when cryptographic keys need strong protection against both software-based attacks and physical attacks on the underlying infrastructure.
HSMs generate, store, and manage cryptographic keys and therefore provide an important security foundation for protecting digital identities and sensitive data. In PKI environments in particular, they help ensure that highly sensitive key material is managed in a controlled and tamper-resistant manner.
Secure cryptographic key management is also relevant in many regulatory and standards-based contexts. The GDPR requires appropriate technical and organizational measures that take the state of the art into account, ISO/IEC 27001 defines requirements for an information security management system, and NIS2 introduces stronger cybersecurity risk-management requirements for affected organizations. In particularly sensitive environments, such as critical infrastructure, HSMs have therefore become an established industry practice.