Global Hardware Security Module (HSM) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hardware Security Module (HSM) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Hardware Security Module (HSM) market finds that the global Hardware Security Module (HSM) market reached a value of USD 1044.18 million in 2022. It’s expected that the market will achieve USD 1818.78 million by 2028, exhibiting a CAGR of 9.69% during the forecast period.

Drivers

The widespread technological shift in the adoption of modern innovative technology concepts for the Internet of Things and cloud computing has further fueled the growth of the hardware security module market due to the surge in demand for information and data security. The main requirements of the hardware security module are derived from banks and financial institutions that operate payment processing on secure platforms such as MasterCard and Visa. The increase in the use of digital payment methods is driving the HSM market.

Restraints

the implementation cost is high, and the hardware security module upgrade cost is high, which hinders the growth of the market, especially the traditional hardware security module.

Hardware security module manufacturers are required to comply with internal and external privacy and data security regulations, as well as to effectively manage encryption keys, requiring higher hardware security modules.

Region Overview:

United States had the highest growth rate of all regions.

Company Overview:

The top three companies are Thales Group, Gemalto, Utimaco. with the revenue market share of 6.88%, 5.26% and 4.73% in 2018.

Thales Group is a French multinational company that designs and builds electrical systems and provides services for the aerospace, defence, transportation and security markets.

Gemalto is an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. It is the world's largest manufacturer of SIM cards. The company was founded in June 2006 when two companies, Axalto and Gemplus International, merged.

Segmentation Overview:

By type, USB Token segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Authentication segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hardware Security Module (HSM) market covered in Chapter 3:

Utimaco
Micro Focus
Atos SE
Sansec
Gemalto
Ultra Electronics Group
Yubico Inc.
Futurex
Thales Group
IBM Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Hardware Security Module (HSM) market from 2018 to 2029 is primarily split into:

Local Interface
Remote Interface
USB Token
Smart Cards

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hardware Security Module (HSM) market from 2018 to 2029 covers:

Authentication
Database Encryption
Document Signing
Secure Sockets Layer (SSL)
Code Signing
PKI/Credential Management
Payments Processing
Application Level Encryption

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)