Hardware Security Module Market: Considerable Increase in Cyber-attacks Is Compelling Procurement of Efficient Security Modules at Enterprise Level: Global Industry Analysis 2013-2017 and Forecast 2018-2028

  • Published: Mar, 2019
  • Report Code: REP-GB-9275

An Incisive, In-depth Analysis on the Hardware Security Module Market

This study offers a comprehensive, 360 degree analysis on the Hardware Security Module market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hardware Security Module market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Hardware Security Module Market - Key Research Findings

  1. Global hardware security module market size in 2017 – nearly US$ 659 Mn.

  1. The hardware security module market is expected to grow at a CAGR of approximately 10.9% during the forecast period of 2018 to 2028.

  1. Some of the key regulations in the global hardware security module market include Cyber Security Legislations in the US and Canada Cyber Security Strategy.

  1. Europe, North America, and APEJ are estimated to remain the largest regional hardware security module markets.

  • The ever-rising threat of data breaches and cyber-attacks is among the key factors driving the global hardware security module market.

  1. The hardware security module market in APEJ is estimated to register the highest CAGR during the forecast period.

  • Various companies in the Asia Pacific region are strongly formulating encryption or key management strategies. This factor is expected to boost the deployment of hardware security modules in the Asia Pacific region.

  1. LAN-based hardware security module type is estimated to continue to hold the largest share of the global hardware security module market throughout the forecast period. The PCIe-based hardware security module type is expected to hold the second-largest market share throughout the forecast period.

  • Growing usage of smart cards and USB token hardware security modules is estimated to boost the global hardware security module market during the forecast period.

Top Factors Shaping the Global Hardware Security Module Market

  • Increase in data breaches and cyberattacks

Cyberattacks are significantly increasing across the globe. Attackers are increasingly targeting banks, financial institutions, and large companies, thereby raising cyber threats. Several cyberattacks took place in 2014 and 2015, which include the cyberattack on Sony Picture Entertainment (2014), that on the US.

Central Command (2015), and the Yahoo Inc. data breach (2014). The continuous threats of such types of data breaches and cyberattacks are estimated to motivate enterprises to procure efficient hardware security modules, thus driving the global hardware security module market during the forecast period.

  • In May 2017, a cyberattack caused by WannaCry ransomware struck several banks, financial institutions, and hospitals. More than 200,000 computers around the world were hacked in this attack.
  • High cost of implementation and upgrades

Hardware security modules are among the most secure options for ensuring security of data, devices, and applications. However, hardware security modules are likely to be difficult to implement due to their high costs.

The cost of hardware security module is a major concern for organisations that are concerned about their overall expenditure, especially small- & medium-sized organizations and enterprises. As a result, majority of small- and medium-sized organisations are still using software-based security solutions.

Moreover, the up-gradation of hardware-based security solutions is a complex process and is mostly possible through device substitution, which further adds to the security spending of an organisation. These factors are restraining the growth of the global hardware security module market.

However, with technological advancements in the field of security, the cost of hardware security modules is expected to decrease in the next few years. This is likely to reduce the restraining impact of cost on the global hardware security module market during the forecast period.

Hardware Security Module Market Structure Analysis

  • Among the key players in the global hardware security module market, Gemalto NV and IBM Corporation are focusing on entering into partnerships to increase their share in the hardware security module market.

  • Thales E-Security, Inc. and Ultra Electronics, among other hardware security module vendors, are focusing on improving their market shares by launching new products.

  • Some of the key developments in the global hardware security module market include:

  • Gemalto NV acquired SafeNet. Gemalto NV has integrated the data and software protection tools from SafeNet into its payment & identity business segment to enhance its enterprise and cloud-based security solutions and services.

  • More recently, Gemalto NV acquired 3M Cogent Inc. This move reinforced Gemalto’s portfolio of identity management solutions with 3M’s biometric technology. This helped the company strengthen its position in the government sector.

Hardware Security Module Market Background

The market study offers an elaborate analysis of the global hardware security module market and features market-related insights on the macro-economic and forecasting factors influencing the adoption of hardware security module technology and its practicality for modern applications. The hardware security module market study includes an exhaustive analysis of the key market drivers, market challenges, and the overall market structure.

Hardware Security Module Market Introduction

This section offers a detailed definition of the hardware security module platform. This section also offers the hardware security module market taxonomy showcasing the various market segments. By type, the global hardware security module market has been segmented into USB-based hardware security modules, PCIe-based hardware security modules, and LAN-based hardware security modules.

With regards to the applications of hardware security modules, the global market has been segmented into payment processing, code & document signing, SSL & TLS, authentication, database encryption, PKI or credential management, and app-level encryption. By industry vertical, the global hardware security module market has been segregated into BFSI, discrete manufacturing, process manufacturing, media, professional services, retail, healthcare, and energy & utility, among other industry verticals.

A market snapshot featuring the global hardware security module market value for the period of 2017 to 2028 has also been added to this section, along with the global market share analysis by segments. In addition, this section of the global hardware security module market study offers an analysis of the incremental opportunity of the market with regards to the platform, end-user, application, and region.

Hardware Security Module Market Report: Executive Summary

The executive summary consists of a comprehensive summary of the global hardware security module market. This comprehensive summary includes the overall global hardware security module market outlook, and the various trends in the supply and demand sides of the market.

In addition, this section offers business growth-related recommendations and opportunities to look forward to in the global hardware security module market. A wheel of fortune depicting sub-segmental growth is provided at the end of this section.

Hardware Security Module Market Forecast and Analysis

An elaborate market analysis has been performed for each hardware security module market segment with regards to the market size in the hardware security module market in every region. This chapter also offers an exhaustive analysis that discusses the current nature of the trends in the global hardware security module market.

The next chapter in the hardware security module market study showcases a detailed analysis of the market across specific countries in different regions. It offers an estimated market viewpoint for the forecast duration of 2018 to 2028. The estimation includes the trending technological innovations and product offerings in the hardware security module market.

The chapter offers an impact analysis that discusses the degree at which market dynamics are influencing the growth of the global hardware security module market in every region. Market forecasts and analysis for key emerging countries (Turkey, Indonesia, and Thailand) based on key market segments has been provided in the hardware security module market report, as an extension to this section.

This global hardware security module market report showcases the present scenario as well as the future prospects of growth in the global hardware security module market across all the business regions for the forecast period of 2018 to 2028. The year 2017 has been considered as the base market year, and the market size has been provided for the next twelve months.

Hardware Security Module Market - Competitive Landscape

The final chapter of the global hardware security module market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the hardware security module market. The hardware security module market players profiled in this section include Gemalto NV; Thales E-Security Inc.; Utimaco GmbH; IBM Corporation; Futurex; Hewlett Packard Enterprise Company; ATOS SE; Yubico; Ultra Electronics; Swift; Ledger; and Spyrus, Inc.

Hardware Security Module Market Report - Research Methodology

To reach a precise forecast, the market study was started by deducing the existing market size, which formed a platform that enabled us to understand the future prospects of the growth of the hardware security module market. We have deduced the overall growth trend using different methods of market analysis and as per the technological advancements in the global hardware security module market.

As highlighted previously, the global hardware security module market is segregated into different market segments. Analysis has been performed in terms of the segmental Basis Points System (BPS) to feature the distinct contributions made by individual segments to the growth of the global hardware security module market. This data plays an important role in identifying various trends in the global hardware security module market.

After detailed secondary and primary research of the global hardware security module market, the scope of the research study was restricted to the major application segments and the regional markets within the global hardware security module market. The hardware security module market forecast and projections have been determined assuming the fact that there would be no major environmental factors responsible for a sudden shift during the forecast period.

The market estimation and forecast for the hardware security module market has been determined considering the average pricing of major products across geographies. In our global hardware security module market report, we have considered a minimal change in the regulatory requirements during the forecast period.

Hardware Security Module Market Reports - Table of Contents

Hardware Security Module Market Reports - List of Tables

Table 01: Global Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 02: Global Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 03: Global Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 04: Global Hardware Security Module Market Value (US$ Mn) Analysis by Region, 2013-2028

Table 05: North America Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 06: North America Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 07: North America Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 08: North America Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 09: Latin America Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 10: Latin America Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 11: Latin America Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 12: Latin America Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 13: Western Europe Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 14: Western Europe Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 15: Western Europe Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 16: Western Europe Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 17: Eastern Europe Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 18: Eastern Europe Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 19: Eastern Europe Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 20: Eastern Europe Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 21: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 22: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 23: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 24: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 25: Japan Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 26: Japan Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 27: Japan Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Table 28: Middle East & Africa Hardware Security Module Market Value (US$ Mn) Analysis By Country, 2013-2028

Table 29: Middle East & Africa Hardware Security Module Market Value (US$ Mn) Analysis by Type, 2013-2028

Table 30: Middle East & Africa Hardware Security Module Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 31: Middle East & Africa Hardware Security Module Market Value (US$ Mn) Analysis by Industry Vertical, 2013-2028

Hardware Security Module Market Reports - List of Figures

Figure 01: Global Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 02: Global Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 03: Global Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 04: Global Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 05: Global Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 06: Global Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 07: Global Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 08: Global Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 09: Global Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 10: Global Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 11: Global Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 12: Global Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 13: Global Hardware Security Module Market Share and BPS Analysis by Region - 2018 & 2028

Figure 14: Global Hardware Security Module Market Attractiveness Analysis by Region, 2018-2028

Figure 15: Global Hardware Security Module Market Y-o-Y Growth by Region, 2018-2028

16: North America Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 17: North America Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 18: North America Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 19: North America Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 20: North America Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 21: North America Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 22: North America Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 23: North America Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 24: North America Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 25: North America Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 26: North America Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 27: North America Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 28: North America Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 29: North America Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 30: North America Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 31: Latin America Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 32: Latin America Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 33: Latin America Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 34: Latin America Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 35: Latin America Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 36: Latin America Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 37: Latin America Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 38: Latin America Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 39: Latin America Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 40: Latin America Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 41: Latin America Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 42: Latin America Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 43: Latin America Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 44: Latin America Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 45: Latin America Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 46: Western Europe Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 47: Western Europe Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 48: Western Europe Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 49: Western Europe Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 50: Western Europe Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 51: Western Europe Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 52: Western Europe Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 53: Western Europe Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 54: Western Europe Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 55: Western Europe Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 56: Western Europe Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 57: Western Europe Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 58: Western Europe Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 59: Western Europe Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 60: Western Europe Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 61: Eastern Europe Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 62: Eastern Europe Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 63: Eastern Europe Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 64: Eastern Europe Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 65: Eastern Europe Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 66: Eastern Europe Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 67: Eastern Europe Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 68: Eastern Europe Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 69: Eastern Europe Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 70: Eastern Europe Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 71: Eastern Europe Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 72: Eastern Europe Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 73: Eastern Europe Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 74: Eastern Europe Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 75: Eastern Europe Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 76: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 77: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 78: Asia Pacific Excluding Japan Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 79: Asia Pacific Excluding Japan Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 80: Asia Pacific Excluding Japan Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 81: Asia Pacific Excluding Japan Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 82: Asia Pacific Excluding Japan Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 83: Asia Pacific Excluding Japan Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 84: Asia Pacific Excluding Japan Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 85: Asia Pacific Excluding Japan Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 86: Asia Pacific Excluding Japan Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 87: Asia Pacific Excluding Japan Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 88: Asia Pacific Excluding Japan Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 89: Asia Pacific Excluding Japan Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 90: Asia Pacific Excluding Japan Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 91: Japan Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 92: Japan Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 93: Japan Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 94: Japan Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 95: Japan Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 96: Japan Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 97: Japan Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 98: Japan Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 99: Japan Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 100: Japan Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 101: Japan Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 102: Japan Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

Figure 103: Middle East & Africa Hardware Security Module Market Value (US$ Mn), Forecast and Incremental & Opportunity Analysis, 2018 & 2028

Figure 104: Middle East & Africa Hardware Security Module Market Value (US$ Mn), 2013-2017

Figure 105: Middle East & Africa Hardware Security Module Market Value (US$ Mn) Forecast, 2018-2028

Figure 106: Middle East & Africa Hardware Security Module Market Share and BPS Analysis By Country - 2018 & 2028

Figure 107: Middle East & Africa Hardware Security Module Market Attractiveness Analysis By Country, 2018-2028

Figure 108: Middle East & Africa Hardware Security Module Market Y-o-Y Growth By Country, 2018-2028

Figure 109: Middle East & Africa Hardware Security Module Market Share and BPS Analysis by Type- 2018 & 2028

Figure 110: Middle East & Africa Hardware Security Module Market Attractiveness Analysis by Type, 2018-2028

Figure 111: Middle East & Africa Hardware Security Module Market Y-o-Y Growth by Type, 2018-2028

Figure 112: Middle East & Africa Hardware Security Module Market Share and BPS Analysis by Application- 2018 & 2028

Figure 113: Middle East & Africa Hardware Security Module Market Attractiveness Analysis by Application, 2018-2028

Figure 114: Middle East & Africa Hardware Security Module Market Y-o-Y Growth by Application, 2018-2028

Figure 115: Middle East & Africa Hardware Security Module Market Share and BPS Analysis by Industry Vertical- 2018 & 2028

Figure 116: Middle East & Africa Hardware Security Module Market Attractiveness Analysis by Industry Vertical, 2018-2028

Figure 117: Middle East & Africa Hardware Security Module Market Y-o-Y Growth by Industry Vertical, 2018-2028

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