
The global market for Hardware Security Modules (HSM) was valued at US$ 1568 million in the year 2024 and is projected to reach a revised size of US$ 3665 million by 2031, growing at a CAGR of 13.1% during the forecast period.
A hardware security module (HSM) is a physical computing device that safeguards and manages digital keys for strong authentication and provides crypto processing. These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or network server. Hardware Security Modules (HSM) are devices specifically built to create a tamper-resistant environment in which to perform cryptographic processes (e.g. encryption or digital signing) and to manage keys associated with those processes. HSMs often provide cryptographic acceleration that is measured in terms of operations. These devices are used to protect critical data processing activities associated with server based applications and can be used to strongly enforce security policies and access controls. These modules are physical devices that traditionally come in the form of a plug-in card or an external network connected appliance and are often validated against security standards such as FIPS.
Global key players of hardware security modules (HSM) include Thales, Entrust Corp, Utimaco, ATOS SE, Marvell Technology Group, etc. The top five players hold a share about 45%. North America is the largest market, has a share about 38%, followed by Europe and Asia-Pacific, with share 33% and 25%, separately.
This report aims to provide a comprehensive presentation of the global market for Hardware Security Modules (HSM), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Hardware Security Modules (HSM).
The Hardware Security Modules (HSM) market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Hardware Security Modules (HSM) market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Hardware Security Modules (HSM) companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Thales
Entrust Corp
Utimaco
ATOS SE
Marvell Technology Group
Westone Information Industry
Ultra Electronics
Sansec Technology
Synopsys, Inc
Futurex
Keyou
Beijing Dean Information Technology
Fortanix
Securosys
Yubico
Segment by Type
General Purpose HSMs
Payment HSMs
HSMaaS
Segment by Application
BFSI
Industrial and Manufacturing
Government
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Hardware Security Modules (HSM) company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
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1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Hardware Security Modules (HSM) Market Size Growth Rate by Type: 2020 VS 2024 VS 2031
1.2.2 General Purpose HSMs
1.2.3 Payment HSMs
1.2.4 HSMaaS
1.3 Market by Application
1.3.1 Global Hardware Security Modules (HSM) Market Growth by Application: 2020 VS 2024 VS 2031
1.3.2 BFSI
1.3.3 Industrial and Manufacturing
1.3.4 Government
1.3.5 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Growth Trends
2.1 Global Hardware Security Modules (HSM) Market Perspective (2020-2031)
2.2 Global Hardware Security Modules (HSM) Growth Trends by Region
2.2.1 Global Hardware Security Modules (HSM) Market Size by Region: 2020 VS 2024 VS 2031
2.2.2 Hardware Security Modules (HSM) Historic Market Size by Region (2020-2025)
2.2.3 Hardware Security Modules (HSM) Forecasted Market Size by Region (2026-2031)
2.3 Hardware Security Modules (HSM) Market Dynamics
2.3.1 Hardware Security Modules (HSM) Industry Trends
2.3.2 Hardware Security Modules (HSM) Market Drivers
2.3.3 Hardware Security Modules (HSM) Market Challenges
2.3.4 Hardware Security Modules (HSM) Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Hardware Security Modules (HSM) Players by Revenue
3.1.1 Global Top Hardware Security Modules (HSM) Players by Revenue (2020-2025)
3.1.2 Global Hardware Security Modules (HSM) Revenue Market Share by Players (2020-2025)
3.2 Global Hardware Security Modules (HSM) Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Global Key Players Ranking by Hardware Security Modules (HSM) Revenue
3.4 Global Hardware Security Modules (HSM) Market Concentration Ratio
3.4.1 Global Hardware Security Modules (HSM) Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Hardware Security Modules (HSM) Revenue in 2024
3.5 Global Key Players of Hardware Security Modules (HSM) Head office and Area Served
3.6 Global Key Players of Hardware Security Modules (HSM), Product and Application
3.7 Global Key Players of Hardware Security Modules (HSM), Date of Enter into This Industry
3.8 Mergers & Acquisitions, Expansion Plans
4 Hardware Security Modules (HSM) Breakdown Data by Type
4.1 Global Hardware Security Modules (HSM) Historic Market Size by Type (2020-2025)
4.2 Global Hardware Security Modules (HSM) Forecasted Market Size by Type (2026-2031)
5 Hardware Security Modules (HSM) Breakdown Data by Application
5.1 Global Hardware Security Modules (HSM) Historic Market Size by Application (2020-2025)
5.2 Global Hardware Security Modules (HSM) Forecasted Market Size by Application (2026-2031)
6 North America
6.1 North America Hardware Security Modules (HSM) Market Size (2020-2031)
6.2 North America Hardware Security Modules (HSM) Market Growth Rate by Country: 2020 VS 2024 VS 2031
6.3 North America Hardware Security Modules (HSM) Market Size by Country (2020-2025)
6.4 North America Hardware Security Modules (HSM) Market Size by Country (2026-2031)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Hardware Security Modules (HSM) Market Size (2020-2031)
7.2 Europe Hardware Security Modules (HSM) Market Growth Rate by Country: 2020 VS 2024 VS 2031
7.3 Europe Hardware Security Modules (HSM) Market Size by Country (2020-2025)
7.4 Europe Hardware Security Modules (HSM) Market Size by Country (2026-2031)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Hardware Security Modules (HSM) Market Size (2020-2031)
8.2 Asia-Pacific Hardware Security Modules (HSM) Market Growth Rate by Region: 2020 VS 2024 VS 2031
8.3 Asia-Pacific Hardware Security Modules (HSM) Market Size by Region (2020-2025)
8.4 Asia-Pacific Hardware Security Modules (HSM) Market Size by Region (2026-2031)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Hardware Security Modules (HSM) Market Size (2020-2031)
9.2 Latin America Hardware Security Modules (HSM) Market Growth Rate by Country: 2020 VS 2024 VS 2031
9.3 Latin America Hardware Security Modules (HSM) Market Size by Country (2020-2025)
9.4 Latin America Hardware Security Modules (HSM) Market Size by Country (2026-2031)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Hardware Security Modules (HSM) Market Size (2020-2031)
10.2 Middle East & Africa Hardware Security Modules (HSM) Market Growth Rate by Country: 2020 VS 2024 VS 2031
10.3 Middle East & Africa Hardware Security Modules (HSM) Market Size by Country (2020-2025)
10.4 Middle East & Africa Hardware Security Modules (HSM) Market Size by Country (2026-2031)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Thales
11.1.1 Thales Company Details
11.1.2 Thales Business Overview
11.1.3 Thales Hardware Security Modules (HSM) Introduction
11.1.4 Thales Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.1.5 Thales Recent Development
11.2 Entrust Corp
11.2.1 Entrust Corp Company Details
11.2.2 Entrust Corp Business Overview
11.2.3 Entrust Corp Hardware Security Modules (HSM) Introduction
11.2.4 Entrust Corp Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.2.5 Entrust Corp Recent Development
11.3 Utimaco
11.3.1 Utimaco Company Details
11.3.2 Utimaco Business Overview
11.3.3 Utimaco Hardware Security Modules (HSM) Introduction
11.3.4 Utimaco Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.3.5 Utimaco Recent Development
11.4 ATOS SE
11.4.1 ATOS SE Company Details
11.4.2 ATOS SE Business Overview
11.4.3 ATOS SE Hardware Security Modules (HSM) Introduction
11.4.4 ATOS SE Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.4.5 ATOS SE Recent Development
11.5 Marvell Technology Group
11.5.1 Marvell Technology Group Company Details
11.5.2 Marvell Technology Group Business Overview
11.5.3 Marvell Technology Group Hardware Security Modules (HSM) Introduction
11.5.4 Marvell Technology Group Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.5.5 Marvell Technology Group Recent Development
11.6 Westone Information Industry
11.6.1 Westone Information Industry Company Details
11.6.2 Westone Information Industry Business Overview
11.6.3 Westone Information Industry Hardware Security Modules (HSM) Introduction
11.6.4 Westone Information Industry Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.6.5 Westone Information Industry Recent Development
11.7 Ultra Electronics
11.7.1 Ultra Electronics Company Details
11.7.2 Ultra Electronics Business Overview
11.7.3 Ultra Electronics Hardware Security Modules (HSM) Introduction
11.7.4 Ultra Electronics Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.7.5 Ultra Electronics Recent Development
11.8 Sansec Technology
11.8.1 Sansec Technology Company Details
11.8.2 Sansec Technology Business Overview
11.8.3 Sansec Technology Hardware Security Modules (HSM) Introduction
11.8.4 Sansec Technology Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.8.5 Sansec Technology Recent Development
11.9 Synopsys, Inc
11.9.1 Synopsys, Inc Company Details
11.9.2 Synopsys, Inc Business Overview
11.9.3 Synopsys, Inc Hardware Security Modules (HSM) Introduction
11.9.4 Synopsys, Inc Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.9.5 Synopsys, Inc Recent Development
11.10 Futurex
11.10.1 Futurex Company Details
11.10.2 Futurex Business Overview
11.10.3 Futurex Hardware Security Modules (HSM) Introduction
11.10.4 Futurex Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.10.5 Futurex Recent Development
11.11 Keyou
11.11.1 Keyou Company Details
11.11.2 Keyou Business Overview
11.11.3 Keyou Hardware Security Modules (HSM) Introduction
11.11.4 Keyou Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.11.5 Keyou Recent Development
11.12 Beijing Dean Information Technology
11.12.1 Beijing Dean Information Technology Company Details
11.12.2 Beijing Dean Information Technology Business Overview
11.12.3 Beijing Dean Information Technology Hardware Security Modules (HSM) Introduction
11.12.4 Beijing Dean Information Technology Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.12.5 Beijing Dean Information Technology Recent Development
11.13 Fortanix
11.13.1 Fortanix Company Details
11.13.2 Fortanix Business Overview
11.13.3 Fortanix Hardware Security Modules (HSM) Introduction
11.13.4 Fortanix Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.13.5 Fortanix Recent Development
11.14 Securosys
11.14.1 Securosys Company Details
11.14.2 Securosys Business Overview
11.14.3 Securosys Hardware Security Modules (HSM) Introduction
11.14.4 Securosys Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.14.5 Securosys Recent Development
11.15 Yubico
11.15.1 Yubico Company Details
11.15.2 Yubico Business Overview
11.15.3 Yubico Hardware Security Modules (HSM) Introduction
11.15.4 Yubico Revenue in Hardware Security Modules (HSM) Business (2020-2025)
11.15.5 Yubico Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.1.1 Research Programs/Design
13.1.1.2 Market Size Estimation
13.1.1.3 Market Breakdown and Data Triangulation
13.1.2 Data Source
13.1.2.1 Secondary Sources
13.1.2.2 Primary Sources
13.2 Author Details
13.3 Disclaimer
Thales
Entrust Corp
Utimaco
ATOS SE
Marvell Technology Group
Westone Information Industry
Ultra Electronics
Sansec Technology
Synopsys, Inc
Futurex
Keyou
Beijing Dean Information Technology
Fortanix
Securosys
Yubico
Ìý
Ìý
*If Applicable.
