Hardware Security Modules Market Size, Share & Trends

Hardware Security Modules Market Size, Share, Statistics and Industry Growth Analysis Report by Deployment Type (Cloud, On-premise), Type (LAN Based /Network Attached, PCI Based/Embedded Plugins, USB Based/Portable, Smart Cards), Application, Vertical and Region - Global Forecast to 2028

Report Code: SE 5117 Dec, 2023, by marketsandmarkets.com

Updated on : October 23, 2024

Hardware Security Modules Market Size & Share

The global hardware security modules market size was valued at USD 1.2 billion in 2023 and is estimated to reach USD 2.3 billion by 2028, growing at a CAGR of 13.5% during the forecast period from 2023 to 2028

The growth of the hardware security modules market share is driven by increasing data breaches and cyberattacks, need to effectively manage cryptographic keys, and emergence of digital transactions, electronic payments leading to rise in the need for protecting sensitive financial data.

Hardware Security Modules Market

Hardware Security Modules Market Statistics and Forecast to 2028

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Hardware Security Modules Market Trends:

Drivers: Need to follow stringent data security compliances

Lawmakers and regulators worldwide are improving the existing data security compliances, implementing new legal frameworks, and defining new data security regulations to respond to internal and external risks, for instance, data security risks from the members of the IT team who have knowledge of and access to networks, data centers, and admin accounts. As requirements for data protection compliance are becoming stringent, the use of point solutions to patch holes in data security compliance requirements is also increasing, resulting in rising demand for hardware security modules. These modules help enterprises create a common, extensible implementation infrastructure that offers compliance regimes with the protection of data-at-rest using encryption, enterprise key management, access control, and security intelligence. Regulations such as FIPS 140-2 Level 3, PCI DSS, NIST, and ANSI must be followed by the manufacturers of hardware security modules.

Restraint: Susceptibility to cyberattacks and security breaches

It is as important to secure hardware for everyday business operations as it is to securing software. The physical device security often gets neglected. As hardware security module updates are expensive, vulnerabilities exist. The cybersecurity systems need to be regularly updated by the companies, in order to adapt to innovative technologies. If a vulnerability is detected, it becomes costly to upgrade hardware security modules. These modules are susceptible to cyberattacks because of irregular security upgrades, remote deployment, a long device lifecycle, and attack replication. Due to the vulnerabilities, there is a possibility that a remote, unauthenticated attacker can gain complete control of the vendor’s hardware security module, enabling remote retrieval of all hardware security module data, including administrator credentials and cryptographic keys. By taking advantage of a cryptographic vulnerability, attackers can also upload modified firmware to the hardware security module.

Opportunity: Adoption of blockchain and cryptocurrencies

The increasing adoption of blockchain and cryptocurrencies presents a significant opportunity for HSMs. These technologies rely heavily on cryptographic keys for security, and HSMs can provide a secure and scalable key management solution for these applications. Cryptocurrencies rely heavily on cryptographic keys for transactions and wallet security. HSMs provide a secure environment for generating, storing, and managing these keys, which is crucial for protecting digital assets and ensuring the integrity of blockchain networks. HSMs can be used to create secure hardware wallets that are virtually immune to hacking and malware attacks. This enhances the security of cryptocurrency holdings for individuals and organizations. Cryptocurrency exchanges are prime targets for cyberattacks. HSMs can help secure the private keys used in the exchange's wallets, preventing unauthorized access and potential theft. Blockchain platforms like Ethereum use smart contracts for various applications. HSMs can provide secure execution environments for smart contracts, ensuring that they run as intended and protecting sensitive data within these contracts. ility: As blockchain networks evolve, there is a need for HSMs to facilitate secure cross-chain interoperability, allowing assets to move seamlessly between different blockchains. HSMs can play a role in the security of tokenized assets, whether they represent real-world assets or digital assets within a blockchain ecosystem. Overall, the adoption of blockchain and cryptocurrencies introduces a wide array of use cases and security challenges that HSMs are well-suited to address. These devices enhance the security, integrity, and regulatory compliance of blockchain-based systems, making them an essential component of the cryptocurrency ecosystem.

Challenge

Need for continuous evolvement in HSMs to meet the changing needs of the cybersecurity landscape. The cybersecurity landscape is characterized by rapid technological advancements, including new attack vectors, encryption standards, and emerging threats. HSMs must keep pace with these developments to remain effective. The emergence of quantum computing poses a significant threat to existing cryptographic methods. The HSM industry must address the growing demand for quantum-safe cryptography as current cryptographic algorithms may become obsolete with the development of quantum computers. HSMs must support new algorithms and provide a smooth transition to the post-quantum world. With the proliferation of cloud and edge computing, HSMs need to offer solutions that are compatible with these environments, ensuring the security of data both in transit and at rest.

Hardware Security Modules Market Ecosystem

Hardware Security Modules Market by Ecosystem

Hardware Security Modules Market Segmentation

Hardware Security Modules Market by Segmentation

Medical & life sciences segment to exhibit the highest growth in hardware security modules market during the forecast period.

The medical & life sciences segment is expected to exhibit the second-highest growth for the hardware security modules market share during the forecast period. The growing need to protect patient identity, related data, and payment information is accelerating the market growth across this vertical. Stringent regulations such as HIPAA and cyber-attacks on medical institutions are driving the need for HSM solutions and services. medical & life sciences sector is witnessing rapid growth in the adoption of hardware security modules. These modules play a vital role in ensuring the security of telematics infrastructure, for example, the electronic health card (eGK) in Germany, facilitates the secure processing and transmission of patient data among trusted participants in the healthcare system, such as doctors, caregivers, hospitals, and pharmacies. HSMs are vital for ensuring the integrity and confidentiality of data on these cards. Additionally, pharmaceutical companies depend on strong security and privacy measures during the development of new medications, making hardware security modules an essential component of their operations.

The market for PKI and Credential Management application segment is expected to witness notable growth during the forecast period

The PKI and Credential Management segment is expected to exhibit notable growth during the forecast period. Hardware Security Modules (HSMs) play a crucial role in ensuring the security of cryptographic operations, especially in the context of Public Key Infrastructure (PKI) and Credential Management. HSMs generate, store, and protect the private keys associated with digital certificates in a PKI. This ensures that the private keys are never exposed outside the secure boundary of the HSM. HSMs can also be used to generate and safeguard encryption keys used for securing user credentials, ensuring that sensitive information remains confidential. HSMs can facilitate secure communication between different components of a PKI or credential management system. This ensures that sensitive information is exchanged in a protected manner.

On-premises segment to hold the larger share of the Hardware security modules market, by deployment type, in 2022

The on-premise segment dominated the hardware security modules industry size in 2022. Traditionally, HSMs were set up “on-premise” or within the enterprise data center. The prevalence of cloud computing, especially over the last few years, has seen the emergence of “Cloud based HSMs” or “HSM as a Service”. On-premise HSMs allow organizations to retain full control over their cryptographic keys and sensitive data. This is particularly important in regions where data sovereignty laws require organizations to store and manage their cryptographic keys within specific geographic boundaries. On-premise HSMs provide greater flexibility for customization and integration with existing infrastructure and security policies. Organizations can tailor the HSM environment to meet their specific needs, ensuring seamless integration with other on-premise systems. Some applications, particularly those with high-performance requirements, benefit from on-premise HSMs due to lower latency and faster access times. This is especially relevant in scenarios where rapid cryptographic processing is critical. Organizations having with predictable workloads, where the likelihood of business requirements and transaction volumes exceeding the capacity is less, prefer on-premise HSM solutions.

Hardware Security Modules Market Regional Analysis

Hardware security modules market in North America estimated to grow at the fastest rate during the forecast period

The hardware security modules market size , in North America is expected to grow at the highest CAGR during the forecast period. North America is expected to witness highest growth during the forecast period. Changing customer preferences toward the adoption of contactless cards and digital-first credit cards are also expected to fuel the growth of hardware security modules in North America. The surge in cyberattacks, especially payment frauds across industries, is expected to drive the need for HSM solutions and services across North America. HSMs are widely being adopted in the financial sector to secure financial transactions, protect sensitive customer information, and comply with regulatory standards such as the Gramm-Leach-Bliley Act (GLBA) and PCI DSS. The US government and various agencies place a strong emphasis on national security and the protection of critical infrastructure. Industries such as defense, aerospace, and government services, which are significant in North America, rely on HSMs to secure sensitive information and communications.

Hardware Security Modules Market by Region

Hardware Security Modules Market Statistics by Region

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Top Hardware Security Modules Companies - Key Market Players:

Major vendors in the hardware security modules companies include Thales (France), Utimaco (Germany), International Business Machines Corporation (IBM) (US), STMicroelectronics (Switzerland), Microchip Technology (US), Infineon Technologies (Germany), Swift (US), Futurex (US), Atos SE (France), and Yubico are some of the key players in the hardware security modules market.

Hardware Security Modules Market Report Scope :

Report Metric

Details

Estimated Market Size USD 1.2 Billion in 2023
Projected Market Size USD 2.3 Billion by 2028
Growth Rate CAGR of 13.5%

Market size available for years

2019—2028

Base year

2022

Forecast period

2023—2028

Segments covered

  • By Deployment Type,
  • By Type,
  • By Application,
  • By Vertical, and
  • By Region

Geographic regions covered

  • North America,
  • Europe,
  • Asia Pacific, and
  • RoW

Companies covered

Thales (France), Utimaco (Germany), International Business Machines Corporation (IBM) (US), Futurex (US), Infineon Technologies (Germany), Microchip Technology (US), STMicroelectronics (Switzerland), Swift (US), Atos SE (France), and Yubico (US), Securosys (Switzerland), SPYRUS (US), Ledger (France), Ultra Electronics (UK), AdwebTech (India), Efficient India (India), Lattice Semiconductor (US), Ellipticsecure (UK), Amazon Inc. (US), Entrust Security (US), ESCRYPT (Germany), Beijing Sansec Technology Development Co., Ltd (SANSEC) (China), Fortanix (US), JISA Softech (India), Microsoft (US), Nitrokey (Germany), Kryptoagile (India), and Kryptus (Brazil).

Hardware Security Modules Market Highlights

This research report categorizes the hardware security modules market based on deployment type, type, application, Trends, Growth , vertical, and region.

Segment

Subsegment

By Deployment Type:

  • On-premise
  • Cloud

By Type:

  • LAN Based /Network Attached
  • PCI Based/Embedded Plugins
  • USB Based/Portable
  • Smart Cards

By Application:

  • Payment Processing
  • Code and Document Signing
  • Secure Sockets Layer (SSL) and Transport Layer Security (TLS)
  • Authentication
  • Database Encryption
  • PKI and Credential Management
  • Application-level Encryption

By Vertical:

  • BFSI
  • IT & Telecommunications
  • Public Sector/Government
  • Industrial Manufacturing
  • Energy & Power
  • Consumer Goods & Retail
  • Medical & Life Sciences
  • Aerospace & Defense
  • Transportation

By Region:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Netherlands
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • RoW
    • Middle East and Africa
    •  GCC
    • Rest of MEA
    • South America

Recent Developments in Hardware Security Modules Industry : 

  • In October 2023, Microchip Technology (US) announced a new family of PIC32CZ CA 32-bit microcontrollers with a 300 MHz Arm Cortex-M7 processor, an integrated Hardware Security Module (HSM), and a wide range of connectivity and Flash memory options for added flexibility. The new family of PIC32CZ CA devices includes the PIC32CZ CA90 with a HSM or the PIC32CZ CA80 without the integrated HSM. The HSM in the PIC32CZ CA90 is a monolithic solution that provides advanced security for industrial and consumer applications. The HSM operates as a secure subsystem with a separate MCU on board that runs the firmware and security features including hardware secure boot, key storage, cryptographic acceleration, true random number generator and more.
  • In August 2023, Thales (France) announced the launch of Thales payShield Cloud HSM, a subscription-based digital payments security service built on its market-leading payShield 10K Payment Hardware Security Module (HSM) technology to help customers accelerate the adoption of cloud-based payments infrastructure.

Key Questions Addressed in the Report:

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INTRODUCTION
24
RESEARCH METHODOLOGY
32
EXECUTIVE SUMMARY
44
PREMIUM INSIGHTS
49
MARKET OVERVIEW
54
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Increased frequency of data breaches and cyberattacks
    - Stringent data security compliances
    - Adoption of holistic approach for effective management of cryptographic keys
    - Widespread adoption of digital payment methods
    RESTRAINTS
    - High ownership costs associated with hardware security modules
    OPPORTUNITIES
    - Surging demand for cloud data security
    - Increasing deployment of connected devices and Internet of Things (IoT) technology in smart cities
    - Proliferation of 5G networks worldwide
    - Rising implementation of security modules in healthcare industry
    - Growing adoption of blockchain and cryptocurrencies
    CHALLENGES
    - Identification and protection of sensitive data
    - Complexities associated with HSM integration process
    - Need to incorporate advanced technologies to mitigate cyber threats and protect sensitive data
  • 5.3 VALUE CHAIN ANALYSIS
    R&D ENGINEERS AND PROTYPE DESIGNERS
    RAW MATERIAL SUPPLIERS
    ORIGINAL EQUIPMENT MANUFACTURERS
    SYSTEM INTEGRATORS
    SUPPLIERS AND DISTRIBUTORS
    VERTICALS
  • 5.4 ECOSYSTEM ANALYSIS
  • 5.5 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGY TRENDS
    - Virtualization of HSMs
    - Incorporation of AI and ML technologies into HSMs
    - Integration of hardware security modules into contactless smart cards
    ADJACENT TECHNOLOGY TRENDS
    - Commercialization of Internet of Things (IoT)
    - Utilization of blockchain and distributed ledger technologies
    - Trend of digital signature
  • 5.6 AVERAGE SELLING PRICE ANALYSIS
    AVERAGE SELLING PRICE OF HARDWARE SECURITY MODULES OFFERED BY KEY PLAYERS, BY TYPE
  • 5.7 PATENT ANALYSIS
  • 5.8 IMPORT/EXPORT SCENARIOS, BY HS CODE
  • 5.9 TARIFFS
  • 5.10 REGULATORY LANDSCAPE AND STANDARDS
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    GLOBAL REGULATIONS: FRAUD PREVENTION AND STANDARDIZATION
    NORTH AMERICA: CONSUMER PROTECTION
    EUROPE: STANDARDIZATION OF PAYMENTS
    ASIA PACIFIC: DOMESTIC PAYMENT NETWORKS
  • 5.11 PORTER’S FIVE FORCES ANALYSIS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
    INTENSITY OF COMPETITIVE RIVALRY
  • 5.12 CASE STUDY ANALYSIS
    POMELO ACQUIRED HSM SOLUTIONS FROM FUTUREX TO DEPLOY IN CLOUD
    MAJOR ISRAELI BANK APPROACHED STANCHION AND FUTUREX FOR SECURE PAYMENT ENVIRONMENTS
    NCC BANK OF BANGLADESH ENSURED REAL-TIME BINIMOY TRANSACTIONS WITH THALES LUNA HSMS
    TREEZOR DEPLOYED CLOUD HSM FROM THALES TO SECURE PAYMENT CHAIN
  • 5.13 KEY CONFERENCES AND EVENTS, 2023–2024
  • 5.14 KEY STAKEHOLDERS AND BUYING PROCESS
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 5.15 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
HARDWARE SECURITY MODULES MARKET, BY TYPE
92
  • 6.1 INTRODUCTION
  • 6.2 LAN-BASED/NETWORK-ATTACHED
    EFFICIENCY AND RESILIENCE OF HARDWARE SECURITY MODULES TO DRIVE MARKET
  • 6.3 PCI-BASED/EMBEDDED PLUGIN
    ENHANCED FOCUS ON SYSTEM SECURITY AND SOFTWARE CONTROL TO FUEL DEMAND
  • 6.4 USB-BASED/PORTABLE
    GROWING IMPLEMENTATION OF PORTABLE HSMS IN LOW-VOLUME TRANSACTION ENVIRONMENTS TO DRIVE MARKET
  • 6.5 SMART CARDS
    INDISPENSABLE NEED TO MITIGATE CYBER RISKS TO FUEL SEGMENTAL GROWTH
HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE
101
  • 7.1 INTRODUCTION
  • 7.2 ON-PREMISES
    PREFERENCE FOR COMPLETE CONTROL OF DATA AND INFRASTRUCTURE MANAGEMENT TO FOSTER SEGMENTAL GROWTH
  • 7.3 CLOUD
    COST-EFFECTIVENESS OF CLOUD-BASED HARDWARE SECURITY MODULES TO BOOST DEMAND
HARDWARE SECURITY MODULES MARKET, BY VERTICAL
108
  • 8.1 INTRODUCTION
  • 8.2 BANKING, FINANCIAL SERVICES, AND INSURANCE
    PRESSING NEED TO MITIGATE RISK OF ONLINE FINANCIAL FRAUDS TO BOOST DEMAND
  • 8.3 IT & TELECOMMUNICATIONS
    SIGNIFICANT FOCUS ON 5G INFRASTRUCTURE DEVELOPMENT TO DRIVE MARKET
  • 8.4 PUBLIC SECTOR/GOVERNMENT
    RISING NEED FOR PROLONGED DATA PROTECTION TO DRIVE MARKET
  • 8.5 INDUSTRIAL MANUFACTURING
    ADOPTION OF HARDWARE SECURITY MODULES FOR DATA EXCHANGE TO DRIVE MARKET
  • 8.6 ENERGY & POWER
    INTEGRATION OF HARDWARE SECURITY MODULES INTO CRITICAL INFRASTRUCTURES TO ENHANCE SECURITY PROTOCOLS
  • 8.7 CONSUMER GOODS & RETAIL
    NEED FOR SECURING PROPRIETARY INFORMATION TO DRIVE MARKET
  • 8.8 MEDICAL & LIFE SCIENCES
    INCREASING NEED FOR SECURITY AGAINST CYBER THREATS TO DRIVE MARKET
  • 8.9 AEROSPACE & DEFENSE
    INCREASING USE OF HARDWARE SECURITY MODULES TO SAFEGUARD CRITICAL DATA
  • 8.10 TRANSPORTATION
    TECHNOLOGICAL ADVANCEMENTS IN CONNECTED CARS TO DRIVE MARKET
HARDWARE SECURITY MODULES MARKET, BY APPLICATION
131
  • 9.1 INTRODUCTION
  • 9.2 PAYMENT PROCESSING
    HIGH DEMAND FOR SECURE PAYMENT PROCESSING METHODS TO DRIVE MARKET
  • 9.3 CODE AND DOCUMENT SIGNING
    URGENT NEED FOR TAMPER-RESISTANT HARDWARE-BASED SOLUTIONS TO PROPEL MARKET
  • 9.4 SECURITY SOCKETS LAYER AND TRANSPORT SECURITY LAYER
    INCREASED DEMAND FOR SSL AND TSL IN IT & TELECOMMUNICATIONS VERTICAL TO DRIVE MARKET
  • 9.5 AUTHENTICATION
    GROWING NEED FOR HARDWARE SECURITY MODULES IN AUTHENTICATION APPLICATIONS TO FUEL MARKET
  • 9.6 DATABASE ENCRYPTION
    PRESSING NEED FOR PROTECTING DATABASES FROM UNAUTHORIZED ACCESS TO FUEL DEMAND FOR ENCRYPTION
  • 9.7 PUBLIC KEY INFRASTRUCTURE AND CREDENTIAL MANAGEMENT
    INCREASING DEMAND FOR SECURITY MODULES IN CREDENTIAL MANAGEMENT TO ENABLE SAFE DATA TRANSMIT
  • 9.8 APPLICATION-LEVEL ENCRYPTION
    ENHANCED EFFICIENCY AND ACCURACY OF APPLICATION-LEVEL ENCRYPTION TO DRIVE MARKET
HARDWARE SECURITY MODULES MARKET, BY REGION
143
  • 10.1 INTRODUCTION
  • 10.2 NORTH AMERICA
    NORTH AMERICA: RECESSION IMPACT
    US
    - Wide adoption of communication devices to fuel demand
    CANADA
    - Rising number of cyberattacks to fuel demand for security modules
    MEXICO
    - Urgent demand for improved network security in automobile manufacturing plants to drive market
  • 10.3 EUROPE
    EUROPE: RECESSION IMPACT
    GERMANY
    - High deployment of hardware security modules in automotive industry to drive market
    UK
    - Increasing use of advanced interconnected technologies to drive market
    FRANCE
    - Wide use of HSMs in aerospace & defense sector to drive market
    ITALY
    - Pressing need for security measures to fuel market
    NETHERLANDS
    - Innovation in digital technologies to propel market
    RUSSIA
    - Rapid establishment of manufacturing units to drive market
    REST OF EUROPE
  • 10.4 ASIA PACIFIC
    ASIA PACIFIC: RECESSION IMPACT
    CHINA
    - Growing security concerns to drive demand for digital solutions
    JAPAN
    - Established automobile sector to drive market
    INDIA
    - Rising initiative for foreign direct investments to boost market
    SOUTH KOREA
    - Growing need for enhanced security measures to drive market
    AUSTRALIA
    - High demand for mobile security solutions to drive market
    REST OF ASIA PACIFIC
  • 10.5 ROW
    ROW: RECESSION IMPACT
    SOUTH AMERICA
    - Brazil
    - Argentina
    - Rest of South America
    MIDDLE EAST & AFRICA
    - GCC Countries
    - Rest of Middle East & Africa
COMPETITIVE LANDSCAPE
178
  • 11.1 OVERVIEW
    KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 11.2 REVENUE ANALYSIS OF KEY PLAYERS
  • 11.3 MARKET SHARE ANALYSIS
  • 11.4 COMPANY EVALUATION MATRIX
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
  • 11.5 START-UP/SME EVALUATION MATRIX
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
  • 11.6 COMPETITIVE BENCHMARKING
  • 11.7 COMPANY FOOTPRINT
  • 11.8 COMPETITIVE SCENARIOS AND TRENDS
    HARDWARE SECURITY MODULES MARKET: PRODUCT LAUNCHES, APRIL 2019–OCTOBER 2023
    HARDWARE SECURITY MODULES MARKET: DEALS, FEBRUARY 2019–OCTOBER 2023
    HARDWARE SECURITY MODULES MARKET: OTHERS, FEBRUARY 2022–JULY 2023
COMPANY PROFILES
206
  • 12.1 INTRODUCTION
  • 12.2 KEY PLAYERS
    THALES GROUP
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    UTIMACO
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    FUTUREX
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    INFINEON TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    IBM
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    STMICROELECTRONICS
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    MICROCHIP TECHNOLOGY
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    ATOS SE
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    YUBICO
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    SWIFT
    - Business overview
    - Products/Solutions/Services offered
    DINAMO NETWORKS
    - Business overview
    - Products/Solutions/Services offered
  • 12.3 OTHER PLAYERS
    SECUROSYS SA
    SPYRUS
    LEDGER
    ULTRA ELECTRONICS
    ADWEBTECH
    EFFICIENT INDIA
    LATTICE SEMICONDUCTORS
    ELLIPTICSECURE
    AMAZON INC.
    ENTRUST SECURITY
    ESCRYPT
    BEIJING SANSEC TECHNOLOGY DEVELOPMENT CO., LTD
    FORTANIX
    JISA SOFTECH
    MICROSOFT
    NITROKEY
    KRYPTOAGILE
    KRYPTUS
APPENDIX
269
  • 13.1 DISCUSSION GUIDE
  • 13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 13.3 CUSTOMIZATION OPTIONS
  • 13.4 RELATED REPORTS
  • 13.5 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 ASSUMPTIONS: RECESSION IMPACT
  • TABLE 2 KEY PARTICIPANTS AND THEIR ROLE IN ECOSYSTEM
  • TABLE 3 PRICING ANALYSIS OF HARDWARE SECURITY MODULES, 2022
  • TABLE 4 AVERAGE SELLING PRICE OF HARDWARE SECURITY MODULES OFFERED BY KEY PLAYERS, BY TYPE
  • TABLE 5 PATENTS RELATED TO HARDWARE SECURITY MODULES MARKET
  • TABLE 6 TOP 20 PATENT OWNERS IN HARDWARE SECURITY MODULES MARKET, 2013–2023
  • TABLE 7 IMPORT DATA FOR PRODUCTS UNDER HS CODE 8471, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 8 EXPORT DATA FOR PRODUCTS UNDER HS CODE 8471, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 9 MFN TARIFFS FOR HARDWARE SECURITY MODULES EXPORTED BY US
  • TABLE 10 MFN TARIFFS FOR HARDWARE SECURITY MODULES EXPORTED BY CHINA
  • TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 14 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 15 IMPACT OF PORTER’S FIVE FORCES ON MARKET
  • TABLE 16 HARDWARE SECURITY MODULES MARKET: KEY CONFERENCES AND EVENTS
  • TABLE 17 IMPACT OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS (%)
  • TABLE 18 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
  • TABLE 19 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 20 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (USD MILLION)
  • TABLE 21 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (THOUSAND UNITS)
  • TABLE 22 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)
  • TABLE 23 LAN-BASED/NETWORK-ATTACHED: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 24 LAN-BASED/NETWORK-ATTACHED: HARDWARE SECURITY MODULES MARKET BY REGION, 2023–2028 (USD MILLION)
  • TABLE 25 PCI-BASED/EMBEDDED PLUGIN: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 26 PCI-BASED/EMBEDDED PLUGIN: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 27 USB-BASED/PORTABLE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 28 USB-BASED/PORTABLE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 29 SMART CARDS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 30 SMART CARDS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 31 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 32 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 33 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 34 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 35 CLOUD: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 36 CLOUD: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 37 HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 38 HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 39 BFSI: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 40 BFSI: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 41 BFSI: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 42 BFSI: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 43 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 44 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 45 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 46 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 47 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 48 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 49 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 50 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 51 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 52 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 53 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 54 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 55 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 56 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 57 ENERGY & POWER: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 58 ENERGY & POWER: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 59 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 60 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 61 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 62 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULE MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 63 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 64 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 65 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 66 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 67 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 68 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 69 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 70 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 71 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 72 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 73 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 74 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
  • TABLE 75 HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 76 HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
  • TABLE 77 PAYMENT PROCESSING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 78 PAYMENT PROCESSING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 79 CODE AND DOCUMENT SIGNING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 80 CODE AND DOCUMENT SIGNING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 81 SSL AND TLS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 82 SSL AND TLS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 83 AUTHENTICATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 84 AUTHENTICATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 85 DATABASE ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 86 DATABASE ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 87 PKI AND CREDENTIAL MANAGEMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 88 PKI AND CREDENTIAL MANAGEMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 89 APPLICATION-LEVEL ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 90 APPLICATION-LEVEL ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 91 HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 92 HARDWARE SECURITY MODULES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 93 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 94 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
  • TABLE 95 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 96 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 97 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 98 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (USD MILLION)
  • TABLE 99 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 100 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
  • TABLE 101 EUROPE: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 102 EUROPE: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
  • TABLE 103 EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 104 EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 105 EUROPE: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 106 EUROPE: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (USD MILLION)
  • TABLE 107 EUROPE: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 108 EUROPE: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
  • TABLE 109 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 110 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
  • TABLE 111 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 112 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 113 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 114 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (USD MILLION)
  • TABLE 115 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 116 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
  • TABLE 117 ROW: HARDWARE SECURITY MODULES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 118 ROW: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
  • TABLE 119 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 120 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
  • TABLE 121 ROW: HARDWARE SECURITY MODULE MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 122 ROW: HARDWARE SECURITY MODULE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 123 ROW: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 124 ROW: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2023–2028 (USD MILLION)
  • TABLE 125 ROW: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 126 ROW: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
  • TABLE 127 OVERVIEW OF KEY GROWTH STRATEGIES ADOPTED BY MAJOR COMPANIES
  • TABLE 128 HARDWARE SECURITY MODULES MARKET: MARKET SHARE ANALYSIS
  • TABLE 129 HARDWARE SECURITY MODULES MARKET: KEY START-UP/SMES
  • TABLE 130 HARDWARE SECURITY MODULES MARKET: COMPETITIVE BENCHMARKING OF KEY START-UP/SMES
  • TABLE 131 OVERALL COMPANY FOOTPRINT (28 COMPANIES)
  • TABLE 132 TYPE: COMPANY FOOTPRINT (28 COMPANIES)
  • TABLE 133 DEPLOYMENT TYPE: COMPANY FOOTPRINT (28 COMPANIES)
  • TABLE 134 REGION: COMPANY FOOTPRINT (28 COMPANIES)
  • TABLE 135 HARDWARE SECURITY MODULES MARKET: PRODUCT LAUNCHES, APRIL 2019– OCTOBER 2023
  • TABLE 136 HARDWARE SECURITY MODULES MARKET: DEALS, FEBRUARY 2019 –OCTOBER 2023
  • TABLE 137 HARDWARE SECURITY MODULES MARKET: OTHERS, FEBRUARY 2022–JULY 2023
  • TABLE 138 THALES GROUP: COMPANY OVERVIEW
  • TABLE 139 THALES GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 140 THALES GROUP: PRODUCT LAUNCHES
  • TABLE 141 THALES GROUP: DEALS
  • TABLE 142 UTIMACO: COMPANY OVERVIEW
  • TABLE 143 UTIMACO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 144 UTIMACO: PRODUCT LAUNCHES
  • TABLE 145 UTIMACO: DEALS
  • TABLE 146 UTIMACO: OTHERS
  • TABLE 147 FUTUREX: COMPANY OVERVIEW
  • TABLE 148 FUTUREX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 149 FUTUREX: PRODUCT LAUNCHES
  • TABLE 150 FUTUREX: DEALS
  • TABLE 151 INFINEON TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 152 INFINEON TECHNOLOGIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED
  • TABLE 153 INFINEON TECHNOLOGIES: PRODUCT LAUNCHES
  • TABLE 154 INFINEON TECHNOLOGIES: DEALS
  • TABLE 155 IBM: COMPANY OVERVIEW
  • TABLE 156 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 157 IBM: DEALS
  • TABLE 158 STMICROELECTRONICS: COMPANY OVERVIEW
  • TABLE 159 STMICROELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 160 STMICROELECTRONICS: DEALS
  • TABLE 161 MICROCHIP TECHNOLOGY: COMPANY OVERVIEW
  • TABLE 162 MICROCHIP TECHNOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 163 MICROCHIP TECHNOLOGY: PRODUCT LAUNCHES
  • TABLE 164 MICROCHIP TECHNOLOGY: OTHERS
  • TABLE 165 ATOS SE: COMPANY OVERVIEW
  • TABLE 166 ATOS SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 167 ATOS SE: PRODUCT LAUNCHES
  • TABLE 168 ATOS SE: DEALS
  • TABLE 169 YUBICO: COMPANY OVERVIEW
  • TABLE 170 YUBICO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 171 YUBICO: PRODUCT LAUNCHES
  • TABLE 172 YUBICO: DEALS
  • TABLE 173 SWIFT: COMPANY OVERVIEW
  • TABLE 174 SWIFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 175 DINAMO NETWORKS: COMPANY OVERVIEW
  • TABLE 176 DINAMO NETWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 177 SECUROSYS SA: COMPANY OVERVIEW
  • TABLE 178 SPYRUS: COMPANY OVERVIEW
  • TABLE 179 LEDGER: COMPANY OVERVIEW
  • TABLE 180 ULTRA ELECTRONICS: COMPANY OVERVIEW
  • TABLE 181 ADWEBTECH: COMPANY OVERVIEW
  • TABLE 182 EFFICIENT INDIA: COMPANY OVERVIEW
  • TABLE 183 LATTICE SEMICONDUCTORS: COMPANY OVERVIEW
  • TABLE 184 ELLIPTICSECURE: COMPANY OVERVIEW
  • TABLE 185 AMAZON INC.: COMPANY OVERVIEW
  • TABLE 186 ENTRUST SECURITY: COMPANY OVERVIEW
  • TABLE 187 ESCRYPT: COMPANY OVERVIEW
  • TABLE 188 BEIJING SANSEC TECHNOLOGY DEVELOPMENT CO., LTD: COMPANY OVERVIEW
  • TABLE 189 FORTANIX: COMPANY OVERVIEW
  • TABLE 190 JISA SOFTECH: COMPANY OVERVIEW
  • TABLE 191 MICROSOFT: COMPANY OVERVIEW
LIST OF FIGURES
 
  • FIGURE 1 HARDWARE SECURITY MODULES MARKET SEGMENTATION
  • FIGURE 2 GDP GROWTH PROJECTION TILL 2023 FOR MAJOR ECONOMIES
  • FIGURE 3 HARDWARE SECURITY MODULES MARKET: RESEARCH DESIGN
  • FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF MARKET PLAYERS
  • FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
  • FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
  • FIGURE 7 DATA TRIANGULATION
  • FIGURE 8 LAN-BASED/NETWORK-ATTACHED SEGMENT TO LEAD MARKET FROM 2023 TO 2028
  • FIGURE 9 CLOUD SEGMENT TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD
  • FIGURE 10 PAYMENT PROCESSING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028
  • FIGURE 11 BFSI SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 12 EUROPE ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
  • FIGURE 13 RISING DEMAND FOR CLOUD-BASED HARDWARE SECURITY MODULES DUE TO DIGITIZATION OF BANKING PROCESSES
  • FIGURE 14 CLOUD SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028
  • FIGURE 15 PAYMENT PROCESSING APPLICATION TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 16 MEDICAL & LIFE SCIENCES VERTICAL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 17 USB-BASED/PORTABLE SEGMENT TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD
  • FIGURE 18 BFSI SEGMENT AND EUROPE ACCOUNTED FOR LARGEST MARKET SHARES IN 2022
  • FIGURE 19 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 20 ITALY TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 21 HARDWARE SECURITY MODULES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 22 HARDWARE SECURITY MODULES MARKET: DRIVERS AND THEIR IMPACT
  • FIGURE 23 NUMBER OF CYBERATTACKS IN US, 2015–2022
  • FIGURE 24 HARDWARE SECURITY MODULES MARKET: RESTRAINTS AND THEIR IMPACT
  • FIGURE 25 HARDWARE SECURITY MODULES MARKET: OPPORTUNITIES AND THEIR IMPACT
  • FIGURE 26 HARDWARE SECURITY MODULES MARKET: CHALLENGES AND THEIR IMPACT
  • FIGURE 27 HARDWARE SECURITY MODULES MARKET: VALUE CHAIN ANALYSIS
  • FIGURE 28 KEY PLAYERS IN HARDWARE SECURITY MODULES ECOSYSTEM
  • FIGURE 29 AVERAGE SELLING PRICE OF HARDWARE SECURITY MODULES OFFERED BY KEY PLAYERS, BY TYPE
  • FIGURE 30 AVERAGE SELLING PRICE (USD) OF HARDWARE SECURITY MODULES
  • FIGURE 31 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
  • FIGURE 32 NUMBER OF PATENTS GRANTED PER YEAR, 2013–2023
  • FIGURE 33 HARDWARE SECURITY MODULES MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
  • FIGURE 35 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
  • FIGURE 36 REVENUE SHIFT AND NEW REVENUE POCKETS IN HARDWARE SECURITY MODULES MARKET
  • FIGURE 37 USB-BASED/PORTABLE SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 38 CLOUD SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
  • FIGURE 39 BFSI VERTICAL TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 40 SSL AND TLS SEGMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 41 HARDWARE SECURITY MODULES MARKET, BY REGION
  • FIGURE 42 EUROPE TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 43 NORTH AMERICA: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
  • FIGURE 44 EUROPE: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
  • FIGURE 45 ASIA PACIFIC: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
  • FIGURE 46 ROW: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
  • FIGURE 47 FIVE-YEAR REVENUE SNAPSHOT OF KEY COMPANIES
  • FIGURE 48 HARDWARE SECURITY MODULES MARKET: MARKET SHARE ANALYSIS
  • FIGURE 49 HARDWARE SECURITY MODULES MARKET: (GLOBAL) COMPANY EVALUATION MATRIX, 2022
  • FIGURE 50 HARDWARE SECURITY MODULES MARKET: (GLOBAL) START-UP/SME EVALUATION MATRIX, 2022
  • FIGURE 51 THALES GROUP: COMPANY SNAPSHOT
  • FIGURE 52 INFINEON TECHNOLOGIES: COMPANY SNAPSHOT
  • FIGURE 53 IBM: COMPANY SNAPSHOT
  • FIGURE 54 STMICROELECTRONICS: COMPANY SNAPSHOT
  • FIGURE 55 MICROCHIP TECHNOLOGY: COMPANY SNAPSHOT
  • FIGURE 56 ATOS SE: COMPANY SNAPSHOT
  • FIGURE 57 SWIFT: COMPANY SNAPSHOT

The study involved four major activities in estimating the size for hardware security modules market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources were used to identify and collect information important for this study. These include annual reports, press releases & investor presentations of companies, white papers, technology journals, and certified publications, articles by recognized authors, directories, and databases.

Secondary research was mainly used to obtain key information about the supply chain of the industry, the total pool of market players, classification of the market according to industry trends to the bottom-most level, regional markets, and key developments from the market and technology-oriented perspectives.

Primary research was also conducted to identify the segmentation types, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, challenges, and industry trends, along with key strategies adopted by players operating in the hardware security modules market. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information and insights throughout the report.

Primary Research

Extensive primary research has been conducted after acquiring knowledge about the hardware security modules market scenario through secondary research. Several primary interviews have been conducted with experts from both demand (end users) and supply side (hardware security modules (HSMs) providers) across 4 major geographic regions: North America, Europe, Asia Pacific, and RoW. Approximately 80% and 20% of the primary interviews have been conducted from the supply and demand side, respectively. These primary data have been collected through questionnaires, emails, and telephonic interviews.

Hardware Security Modules Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both the top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the hardware security modules market and various other dependent submarkets. Key players in the market were identified through secondary research, and their market share in the respective regions was determined through primary and secondary research. This entire research methodology included the study of annual and financial reports of the top players, as well as interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative).

All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study were accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Hardware Security Modules Market: Bottom-Up Approach

Hardware Security Modules Market Size, and Bottom-Up Approach

Hardware Security Modules Market: Top-Down Approach

Hardware Security Modules Market Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size from the market size estimation process as explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both demand and supply sides. Along with this, the market has been validated using top-down and bottom-up approaches.

Definition

A hardware security module is a cryptoprocessor used for safeguarding and managing cryptographic keys and accelerating cryptographic operations using the keys. The main features of a hardware security module include onboard key generation and storage, accelerated symmetric and asymmetric encryption, and backup of sensitive materials in an encrypted form. These modules typically offer protection features such as strong authentication and physical tamper resistance and are generally used to protect critical data processing activities and enforce security policies and access control. Hardware security modules traditionally come in the form of plugin cards or external network-connected appliances directly attached to a computer or network server.

Key Stakeholders

  • Senior Management
  • End User
  • Finance/Procurement Department
  • R&D Department

Report Objectives

  • To describe and forecast the hardware security modules market, in terms of value, segmented based on type, deployment type, application, vertical, and region
  • To describe and forecast the hardware security modules market, in terms of volume, based on type
  • To provide detailed information regarding the factors influencing the market dynamics (drivers, restraints, opportunities, and challenges)
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the hardware security modules market
  • To forecast the market for various segments with respect to four main regions: North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To provide a detailed overview of the industry’s value chain, along with industry trends, technology trends, case studies, security standards, and Porter’s five forces analysis
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To strategically profile the key players and comprehensively analyze their market rankings and core competencies2
  • To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product launches, collaborations, and acquisitions
  • To benchmark market players using the proprietary Company Evaluation Quadrant, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 7)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
SE 5117
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Dec, 2023
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