세계의 하드웨어 보안 모듈(HSM) 시장 예측 : 유형별, 전개 유형별, 표준 준거별, 용도별, 최종 사용자별, 지역별 분석(-2030년)

According to Stratistics MRC, the Global Hardware Security Modules Market is accounted for $1.38 billion in 2024 and is expected to reach $3.29 billion by 2030 growing at a CAGR of 15.5% during the forecast period. Specialized physical devices called Hardware Security Modules (HSM) are made to safely handle, process, and store cryptographic keys. These modules guarantee the secrecy and integrity of cryptographic operations while offering a strong degree of security for sensitive data. They are vital in industries including banking, healthcare, government, and telecommunications as they protect against illegal access and tampering. HSMs assist enterprises in meeting regulatory requirements and reducing the risks of data breaches and cyber attacks by putting industry-standard security protocols into place.

According to the Identity Theft Resource Center's 2023 Data Breach Report, in 2023, there were 2,365 cyber attacks, resulting in 343,338,964 victims. The year 2023 also witnessed a 72% increase in data breaches compared to 2021, which previously held the record.

Market Dynamics:

Driver:

Increasing cyber security threats

Growing cyber security risks have an enormous impact on the market for hardware security modules (HSM), which encourages businesses to spend money on cutting-edge security products. Private information and vital systems are at serious risk from the increase in cyber attacks, which include ransomware, identity theft, and data breaches. HSMs offer a safe setting for handling cryptographic keys and carrying out encryption tasks, protecting against manipulation and unwanted access. Strong security measures are essential as companies deal with changing threats and advanced attack methods. As a result, HSMs have become crucial elements in strengthening corporate cyber security plans, safeguarding priceless assets, and guaranteeing regulatory compliance.

Restraint:

Complexity of integration

For organizations seeking to improve their security infrastructure, the hardware security module (HSM) market's intricate integration poses significant challenges. Deployment procedures are made more difficult by the need for smooth compatibility with a variety of platforms and applications when integrating HSMs into current IT systems. Furthermore, the need for specific expertise to administer and run HSMs may discourage adoption, resulting in longer deployment schedules and higher resource expenditures. As companies balance the advantages of HSM solutions against the associated complexity, these integration challenges may deter some companies from pursuing them, which would ultimately affect the market's overall growth potential.

Opportunity:

Rising adoption of IoT and connected devices

The rising adoption of IoT and connected devices is a key driver in the market, as these technologies generate vast amounts of sensitive data that require secure management. The need for strong security solutions to safeguard data transmission and storage is growing as IoT applications spread throughout industries like healthcare, manufacturing, and smart cities. HSMs are essential for managing cryptographic keys, protecting device-to-device connections, and maintaining the integrity of IoT networks. HSMs are becoming more and more acknowledged as crucial elements for boosting security and preserving trust in linked environments as enterprises look to reduce the risks related to IoT vulnerabilities.

Threat:

Increasing availability of software-based encryption

One of the main market constraints is the growing competition from software-based solutions. Compared to traditional HSMs, software-based solutions frequently provide businesses flexible and affordable options with easier deployment and less initial expenditures. Due to their accessibility and low hardware requirements, these solutions may be preferred by many businesses, especially small and medium-sized ones. Software solutions may not have the strong security features and regulatory compliance provided by HSMs, even though they are capable of handling encryption and key management chores efficiently.

Covid-19 Impact

Supply chains were disrupted and new projects were delayed, which were the main effects of the COVID-19 pandemic on the hardware security modules (HSM) companies. The lack of on-site resources and qualified staff made it difficult to integrate HSMs into the current infrastructure as companies moved toward remote labour. Additionally, the demand for HSMs temporarily decreased as a result of the worldwide economic slowdown, especially in industries that rely significantly on physical processes. However, the market started to rebound as businesses gave cyber security a higher priority in the face of an increase in digital transactions, underscoring the need of HSMs in protecting sensitive data in a quickly changing environment.

The on-premises HSMs segment is expected to be the largest during the forecast period

The on-premises HSMs segment is estimated to be the largest, due to the necessity for complete data sovereignty, which guarantees that private data remains inside the physical borders of the company, is one of the main factors driving the adoption of on-premises HSMs. Organizations have more flexibility and control over their security solutions due to on-premises HSMs' increased levels of customization and interaction with pre-existing IT infrastructure. Additionally, compared to cloud-based options, on-premises HSMs can provide a more dependable and compliant solution for sectors with stringent regulatory requirements.

The transportation segment is expected to have the highest CAGR during the forecast period

The transportation segment is anticipated to witness the highest CAGR during the forecast period, due to the growing demand for data protection and secure communications in connected automobiles. Strong encryption and secure key management are becoming more and more necessary as automakers embrace cutting-edge technologies like the Internet of Things and vehicle-to-everything (V2X) connection. The growth of HSMs in the transportation sector is also fuelled by regulatory compliance with regard to data security, which makes them crucial for upholding safety and confidence in contemporary automotive applications.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to the need for strong data protection solutions has increased dramatically in rising economies like China and India as a result of rapid digitization and the growth of IT infrastructure. Organizations are being forced to implement advanced security measures, such as HSMs, due to growing worries about cyber security threats and data breaches. Government programs encouraging cyber security and adherence to stringent laws also contribute to the market's expansion. HSMs are crucial for protecting sensitive data in a variety of businesses since the increase in online transactions also calls for improved encryption capabilities.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period, owing to strict regulatory standards and a heavy emphasis on cyber security. Because of their superior encryption and key management capabilities, HSMs are being used by enterprises in response to the growing demand for enhanced security solutions brought on by data breaches and cyber attacks. Strong security measures are also required due to the quick adoption of technologies like cloud computing, IoT, and digital payments. Furthermore, major market participants' efforts in R&D foster innovation and propel the growth of HSM solutions in a number of industries, such as government, healthcare, and finance.

Key players in the market

Some of the key players profiled in the Hardware Security Modules Market include Thales Group, IBM Corporation, Microchip Technology Inc., HSM Solutions, Entrust Datacard Corporation, Infineon Technologies AG, Securosys SA, Microsoft Azure Key Vault, Fujitsu, Yubico, NXP Semiconductors, A10 Networks, Dell Technologies, Sierra Wireless, and Broadcom Inc.

Key Developments:

In September 2023, Thales introduced its Luna HSM, enhancing encryption and key management capabilities for both cloud and on-premises environments. The new features focus on scalability, ease of integration, and compliance with industry standards, catering to businesses looking for robust security solutions to protect sensitive data.

In March 2023, IBM launched the Cloud Hyper Protect Crypto Service, a managed HSM solution designed to protect cryptographic keys and sensitive data in cloud environments. This service offers enterprise-level security, compliance features, and the ability to seamlessly integrate with existing IBM cloud services, providing organizations with an added layer of data protection.

In January 2023, Microchip Technology announced new products in its Atmel(R) cryptographic solutions portfolio, aimed at securing embedded devices and IoT applications. The launch focuses on providing advanced cryptographic features to protect sensitive data and secure device communications in the rapidly growing IoT market.

In October 2022, Fujitsu introduced its Cloud HSM service, focusing on secure key management solutions within a cloud environment. The service emphasizes compliance with global standards and aims to support businesses transitioning to cloud-based infrastructures while ensuring the security of their cryptographic operations.

Types Covered:

• LAN Based
• PCIe Based
• USB Based
• Smart Cards
• Other Types

Deployment Types Covered:

• On-Premises HSMs
• Cloud-Based HSMs

Standards Compliances Covered:

• FIPS 140-2/3
• Common Criteria
• High-Assurance

Applications Covered:

• Digital Signatures
• Payment Processing
• Secure Socket Layer (SSL)
• Transport Layer Security (TLS)
• Authentication
• Credential Management
• Application-Level Encryption
• Encryption
• Other Applications

End Users Covered:

• Banking, Financial Services, and Insurance (BFSI)
• Government and Defense
• Transportation
• Retail & Consumer Goods
• IT & Telecommunications
• Manufacturing
• Energy & Power
• Medical & Life Sciences
• Hospitality
• Automotive
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Hardware Security Modules Market, By Type

• 5.1 Introduction
• 5.2 LAN Based
• 5.3 PCIe Based
• 5.4 USB Based
• 5.5 Smart Cards
• 5.6 Other Types

6 Global Hardware Security Modules Market, By Deployment Type

• 6.1 Introduction
• 6.2 On-Premises HSMs
• 6.3 Cloud-Based HSMs

7 Global Hardware Security Modules Market, By Standards Compliance

• 7.1 Introduction
• 7.2 FIPS 140-2/3
• 7.3 Common Criteria
• 7.4 High-Assurance

8 Global Hardware Security Modules Market, By Application

• 8.1 Introduction
• 8.2 Digital Signatures
• 8.3 Payment Processing
• 8.4 Secure Socket Layer (SSL)
• 8.5 Transport Layer Security (TLS)
• 8.6 Authentication
• 8.7 Credential Management
• 8.8 Application-Level Encryption
• 8.9 Encryption
• 8.10 Other Applications

9 Global Hardware Security Modules Market, By End User

• 9.1 Introduction
• 9.2 Banking, Financial Services, and Insurance (BFSI)
• 9.3 Government and Defense
• 9.4 Transportation
• 9.5 Retail & Consumer Goods
• 9.6 IT & Telecommunications
• 9.7 Manufacturing
• 9.8 Energy & Power
• 9.9 Medical & Life Sciences
• 9.10 Hospitality
• 9.11 Automotive
• 9.12 Other End Users

10 Global Hardware Security Modules Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Thales Group
• 12.2 IBM Corporation
• 12.3 Microchip Technology Inc.
• 12.4 HSM Solutions
• 12.5 Entrust Datacard Corporation
• 12.6 Infineon Technologies AG
• 12.7 Securosys SA
• 12.8 Microsoft Azure Key Vault
• 12.9 Fujitsu
• 12.10 Yubico
• 12.11 NXP Semiconductors
• 12.12 A10 Networks
• 12.13 Dell Technologies
• 12.14 Sierra Wireless
• 12.15 Broadcom Inc.