Global Hardware Security Module Market: Snapshot
The future of the worldwide market for hardware security module is sound, with the demand predicted to increment at a healthy 11.6% CAGR over the forecast period from 2017 to 2025. At the forefront of driving the hardware security module (HSM) market is the increasing security concerns among data-sensitive companies across the world. To address this, enterprises are investing in cyber-security infrastructure, which in turn will drive the demand for hardware security module. Several governments are participating by laying stringent regulatory standards for vendors to adhere to the requisite cryptographic module.
On the other hand, the high cost of implementation of HSM continues to be the most glaring challenge for the growth of this market. Considering all the dynamics, the global hardware security module market is estimated to be worth US$40.43 bn by the end of 2025.
Automobile and Transportation to Emerge as Profitable Industry Vertical Segment
On the basis of type, the global hardware security module has been segmented into local interface, remote interface, USB token, and smart cards in this report. In 2015, remote interface HSM segment displayed the leading demand holding the leading revenue in the overall market. The segment was followed by local interface HSM type in terms of revenue share. Going forward, smart cards and USB tokens are anticipated to display robust growth on the back of the embedded features that these HSMs possess.
Application-wise, the global hardware security module market has been bifurcated into authentication, database encryption, document signing, secure socket layer, code signing, PKI/credential management, payment processing, and application level encryption. At present, authentication and secure socket layer are posing more demand than other application segments; however, payment processing application segment is expected to gain significantly followed by credential and PKI management.
Based on industry vertical, the market has been categorized into BFSI, government, technology and communication, industrial and manufacturing, energy and utility, retail and consumer products, healthcare and life sciences, and others. The other segment includes automobile, hospitality, and transportation. Amongst all, the other segment is anticipated to clock the leading growth rate owing to the deployment of HSM in transportation and automobile industry verticals. However, BFSI held the leading revenue share of the market in 2015 followed by healthcare and life sciences.
Asia Pacific to Clock Robust CAGR through 2025
Region-wise, this report takes stock of the potential of hardware security module market in the regions of North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Among these, North America hardware security module market is currently most profitable to serve a demand worth US$7.91 bn in 2017, and expanding at a CAGR of 11.0% for the forecast period of 2017 to 2025. Strong deployment of HSM for various applications predominantly among organizations in the U.S. will push the demand in the region to attract a revenue worth US$18.18 bn by 2025. Revenue in Europe hardware security module market is anticipated to increase at a CAGR of 11.8% over the 2017-2025 period, to reach US417.65 bn by 2025.
On the other hand, powered by Japan, the demand in Asia Pacific hardware security module market will increase from 0.98bn in 2017 to 2.88 bn by 2025 at 14.4% CAGR for the period. While countries such as Australia have displayed relatively slow deployment of HSM, the growing need to protect the cryptographic key from malicious attacks will generally increase the pace of deployment of HSM in the region over the forecast period.
Ultimaco GmbH, Thales e-Security Inc., Futurex, Gemalto NV, IBM Corporation, Hewlett Packard Enterprise Development L.P., Yubico, Ultra Electronics, and SWIFT are the leading companies operating in the global HSM market.
Global Hardware Security Module Market: Overview
Hardware security module (HSM) market report provides analysis for the period 2015 – 2025, wherein the period from 2017 to 2025 is the forecast and 2016 is the base year. The report covers all the major trends and technologies playing an influential role in the hardware security module (HSM) market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to impact market’s growth during the said period. The study provides a complete perspective on global hardware security module (HSM) market’s evolution throughout the above mentioned forecast period in terms of revenue (in US$ Bn).
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints and opportunities that influence the current nature and future status of this market, key market indicators and trends. Key market indicators included in the report provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period. An attractiveness analysis has also been provided for every segment in the report. The attractiveness analysis will helps the readers to understand the most lucrative market segment. The report also provides an overview of various strategies adopted by key players present in the market.
Global Hardware Security Module Market: Scope of Study and Research Methodology
The comprehensive hardware security module (HSM) market estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting hardware security module (HSM) market growth.
This report provides all the essential information required to understand the key developments in the hardware security module (HSM) market, growth trend of each segment and companies’ strategies that helps them to efficiently compete in the market. Also, the report provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces namely buyers bargaining power, suppliers bargaining power, threat of new entrant, threat of substitute and degree of competition in the hardware security module (HSM) market. This report also provides the comprehensive value chain analysis for the hardware security module (HSM) market. It explains the various participants including raw material suppliers, manufacturers and distribution channel of the value chain operating in the market.
Global Hardware Security Module Market: Market Segmentation
The report segments the market on the basis of type, application and industry verticals. The type segment includes local interface, remote interface, smart cards and USB tokens hardware security modules (HSM). On the basis of application, the market is segmented as authentication, database encryption, document signing, secure socket layer (SSL), code signing, PKI/credential management, payment processing and application level encryption. On the basis of industry verticals the hardware security module market is segmented as banking and financial institutions, government, technology and communication, industrial and manufacturing, energy and utility, retail and consumer, healthcare and life sciences and others The report provides in-depth segment analysis of the global hardware security module (HSM) market, thereby providing valuable insights at the macro as well as micro levels.
Global Hardware Security Module Market: Competitive Dynamics
The report also highlights the competitive landscape of global hardware security module (HSM) market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the market.
Utimaco GmbH, Futurex, Thales e-Security, Inc., Gemalto NV, IBM corporation, Hewlett Packard Enterprise Development L.P., Ultra Electronics Group, SWIFT and Yubico are of the major players operating within the hardware security module (HSM) market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
The global hardware security module market is segmented as follows:
Global Hardware Security Module (HSM) Market, By Type
- Local Interface
- Remote Interface
- USB token
- Smart Cards
Global Hardware Security Module (HSM) Market, By Application
- Database Encryption
- Document Signing
- Secure Sockets Layer (SSL)
- Code Signing
- PKI/Credential Management
- Payments Processing
- Application Level Encryption
Global Hardware Security Module (HSM) Market, By Industry- verticals
- Technology and Communication
- Industrial and Manufacturing
- Energy and Utility
- Retail and Consumer Products
- Healthcare & Life sciences
Global Hardware Security Module (HSM) Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America