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Global Hardware Security Modules Market to reach USD XX billion by the end of 2030.

Global Hardware Security Modules Market Size study & Forecast, by Product Type (Smart Cards, LAN based/ Network Attached, PCI-Based/ Embedded Plugins, USB-Based/ Portable) by Deployment Mode (On-premise, Cloud), by Application (Payment Processing Code and Document Signing, Security Sockets Layer (SSL) and Transport Security Layer (TSL), Authentication, Application-Level Encryption, Others), by Industry Vertical (BFSI, IT and Telecommunication, Government, Consumer Goods and Retail, Transportation, Aerospace, Others) and Regional Analysis, 2023-2030

Product Code: EESC-31695037
Publish Date: 29-02-2024
Page: 200

Global Hardware Security Modules Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Hardware Security Module is a specialized hardware device designed to provide a secure and isolated environment for the generation, storage, and management of cryptographic keys and sensitive data. HSMs play a crucial role in enhancing the security of digital transactions, communications and various cryptographic operations. The key factors driving the market growth are increase in data breaches and cyberattacks, growing adoption of cloud services, and increase in strict data security compliances which are anticipated to support the market during forecast period 2023-2030.

Additionally, the growing frequency and sophistication of cyber threats have heightened awareness about the importance of securing sensitive data and cryptographic keys. HSMs provide a hardware-based security solution that helps organizations protect against data breaches, unauthorized access, and other cyber threats. According to Statista, in 2022, the manufacturing sector experienced the highest proportion of cyberattacks among the prominent global industries. Throughout that year, manufacturing companies faced almost 25% of the total cyber incidents. Following closely were finance and insurance entities, accounting for approximately 19% of these incidents. The third-highest share was attributed to professional, business, and consumer services, representing 14.6% of reported cyberattacks. As a result, the rising cyber threats is anticipated to support the market growth. Moreover, increasing deployment of connected devices and Internet of Things (IoT) technology and growing proliferation of 5G networks is anticipated to create lucrative opportunities for the market growth. However, the high price related to hardware security modules stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Hardware Security Modules Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing cybersecurity concerns, increased adoption of cloud services and supportive government initiatives for cybersecurity. Whereas, Asia Pacific region is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the increasing cybersecurity threats, growing emphasis on data protection, rise in digital transformation, increasing adoption of cloud services, and rapid expansion of E-commerce.

Major market player included in this report are:
Gemalto NV (Netherlands)
Thales eSecurity (France)
Ultimaco GmbH (Germany)
International Business Machines (IBM) Corporation (U.S.)
Futurex LP (U.S.)
Hewlett Packard Enterprise Development LP (U.S.)
Atos SE (France)
Yubico (U.S.)
Ultra Electronics (U.K.)
Securosys SA (Switzerland)

Recent Developments in the Market:
Ø In May 2022, Marvell has introduced the LiquidSecurity 2 module adapter, designed to empower cloud environments with enhanced capabilities for encryption, key management, authentication, and various Hardware Security Module (HSM) services. This advanced HSM service promises a notable boost, offering a threefold increase in transaction processing speed and a tenfold expansion in key storage capacity, ultimately leading to reduced ownership costs.
Global Hardware Security Modules Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Deployment Mode, Application, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Smart Cards
LAN based/ Network Attached
PCI-Based/ Embedded Plugins
USB-Based/ Portable

By Deployment Mode:

By Application:
Payment Processing
Code and Document Signing
Security Sockets Layer (SSL) and Transport Security Layer (TSL)
Application-Level Encryption

By Industry Vertical:
IT and Telecommunication
Consumer Goods and Retail

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Hardware Security Modules Market, by region, 2020-2030 (USD Billion)
1.2.2. Hardware Security Modules Market, by Product Type, 2020-2030 (USD Billion)
1.2.3. Hardware Security Modules Market, by Deployment Mode, 2020-2030 (USD Billion)
1.2.4. Hardware Security Modules Market, by Application, 2020-2030 (USD Billion)
1.2.5. Hardware Security Modules Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Hardware Security Modules Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Hardware Security Modules Market Dynamics
3.1. Hardware Security Modules Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increase in the data breaches and cyberattacks Growing adoption of cloud services Increase in strict data security compliances
3.1.2. Market Challenges High price related to hardware security modules
3.1.3. Market Opportunities Increasing deployment of connected devices and Internet of Things (IoT) technology Growing proliferation of 5G networks
Chapter 4. Global Hardware Security Modules Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Hardware Security Modules Market, by Product Type
5.1. Market Snapshot
5.2. Global Hardware Security Modules Market by Product Type, Performance – Potential Analysis
5.3. Global Hardware Security Modules Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Hardware Security Modules Market, Sub Segment Analysis
5.4.1. Smart Cards
5.4.2. LAN based/ Network Attached
5.4.3. PCI-Based/ Embedded Plugins
5.4.4. USB-Based/ Portable
Chapter 6. Global Hardware Security Modules Market, by Deployment Mode
6.1. Market Snapshot
6.2. Global Hardware Security Modules Market by Deployment Mode, Performance – Potential Analysis
6.3. Global Hardware Security Modules Market Estimates & Forecasts by Deployment Mode 2020-2030 (USD Billion)
6.4. Hardware Security Modules Market, Sub Segment Analysis
6.4.1. On-premise
6.4.2. Cloud
Chapter 7. Global Hardware Security Modules Market, by Application
7.1. Market Snapshot
7.2. Global Hardware Security Modules Market by Application, Performance – Potential Analysis
7.3. Global Hardware Security Modules Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Hardware Security Modules Market, Sub Segment Analysis
7.4.1. Payment Processing
7.4.2. Code and Document Signing
7.4.3. Security Sockets Layer (SSL) and Transport Security Layer (TSL)
7.4.4. Authentication
7.4.5. Application-Level Encryption
7.4.6. Others
Chapter 8. Global Hardware Security Modules Market, by Industry Vertical
8.1. Market Snapshot
8.2. Global Hardware Security Modules Market by Industry Vertical, Performance – Potential Analysis
8.3. Global Hardware Security Modules Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
8.4. Hardware Security Modules Market, Sub Segment Analysis
8.4.1. BFSI
8.4.2. IT and Telecommunication
8.4.3. Government
8.4.4. Consumer Goods and Retail
8.4.5. Transportation
8.4.6. Aerospace
8.4.7. Others
Chapter 9. Global Hardware Security Modules Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Hardware Security Modules Market, Regional Market Snapshot
9.4. North America Hardware Security Modules Market
9.4.1. U.S. Hardware Security Modules Market Product Type breakdown estimates & forecasts, 2020-2030 Deployment Mode breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Industry Vertical breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Hardware Security Modules Market
9.5. Europe Hardware Security Modules Market Snapshot
9.5.1. U.K. Hardware Security Modules Market
9.5.2. Germany Hardware Security Modules Market
9.5.3. France Hardware Security Modules Market
9.5.4. Spain Hardware Security Modules Market
9.5.5. Italy Hardware Security Modules Market
9.5.6. Rest of Europe Hardware Security Modules Market
9.6. Asia-Pacific Hardware Security Modules Market Snapshot
9.6.1. China Hardware Security Modules Market
9.6.2. India Hardware Security Modules Market
9.6.3. Japan Hardware Security Modules Market
9.6.4. Australia Hardware Security Modules Market
9.6.5. South Korea Hardware Security Modules Market
9.6.6. Rest of Asia Pacific Hardware Security Modules Market
9.7. Latin America Hardware Security Modules Market Snapshot
9.7.1. Brazil Hardware Security Modules Market
9.7.2. Mexico Hardware Security Modules Market
9.8. Middle East & Africa Hardware Security Modules Market
9.8.1. Saudi Arabia Hardware Security Modules Market
9.8.2. South Africa Hardware Security Modules Market
9.8.3. Rest of Middle East & Africa Hardware Security Modules Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Gemalto NV (Netherlands) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Thales eSecurity (France)
10.3.3. Ultimaco GmbH (Germany)
10.3.4. IBM Corporation (U.S.)
10.3.5. Futurex LP (U.S.)
10.3.6. Hewlett Packard Enterprise Development LP (U.S.)
10.3.7. Atos SE (France)
10.3.8. Yubico (U.S.)
10.3.9. Ultra Electronics (U.K.)
10.3.10. Securosys SA (Switzerland)
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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