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Hardware Security Modules Market with COVID-19 Impact Analysis by Deployment Type (On-premises, Cloud Based), Type (LAN Based/Network Attached, PCI Based, USB Based, Smart Cards ), Applications, Verticals and Geography - Global Forecast to 2026

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Date: 06-Jul-2021
No. of pages: 233
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“Hardware security modules market is projected to grow at CAGR of 11.6%from 2021 to 2026”

The Hardware security modules market is expected to grow at a CAGR of 11.6% from USD 1.1 billion in 2021 to USD 1.8 billion in 2026. Increasing demand of Hardware security modules products in the medical & life sciences and IT & telecommunications industry will drive the market.

 “Hardware security modules market for cloud HSM is expected to grow at highest CAGR during the forecast period”

Hardware security modules deployed on the cloud offer the dynamic and virtualized attributes of cloud computing environments. In cloud deployment, cloud service providers only manage the hardware security modules without access to the key. Cloud-based deployment ensures that neither the host CSP nor any external party can access or use cryptographic keys from any backup. With cloud-based hardware security modules, customers have absolute control and authority over keys through separation of duties.

The adoption of cloud-based hardware security modules is anticipated to be high compared with on-premise hardware security modules in the near future because of the performance/availability benefits, as cloud-based deployment reduces network transit times. Utimaco, Gemalto, Microsoft, Amazon, Thales, and IBM, among other such companies, have started offering cloud-based hardware security modules that empower cloud users to implement a high level of cryptographic security. Cloud-based hardware security modules help comply with key management requirements without affecting application performance. Cloud-based hardware security modules offer the most cost-effective solution, as the cost starts as low as USD 4 an hour and can go up to USD 1,300 per month. For instance, IBM offers cloud-based hardware security modules starting as low as USD 1,250 per month, while Microsoft offers an hour of usage at about USD 4. The cloud solution by IBM enables its customers to solve complex security, compliance, data sovereignty, and control challenges associated with migrating and running workloads on the cloud. The cost-effectiveness of cloud deployment is anticipated to largely drive the overall growth of the market.

“Hardware security modules market for BFSI accounted for the largest share in 2020”

Hardware security modules play an important role in securing the private keys and safely store cryptographic keys in hardware-based back-end systems to ensure security in core banking, online banking, banking cards personalization systems, trade finance, international payments, foreign exchange, bank guarantee, and other such applications involved in the BFSI vertical. The BFSI segment currently dominates the hardware security modules market. This is because these modules allow a safe banking environment for core banking and online banking platforms. These modules are also used to secure ATM and POS networks, and inter-bank funds transfer and share dealing systems. Customer card issuing systems also use hardware security modules to help reduce the risks of identity theft or fraud and comply with local e-banking regulations. With the recent technological advancements in blockchain technology, the market opportunities for hardware security modules are expected to increase in the near future. Blockchain is used to track transactions such as cryptocurrencies, financial transactions, and contracts. Each block within a blockchain contains a timestamp and a link to the previous block. As a ledger, blockchain does an excellent job of keeping track of records; however, the quality of the information contributed to the blockchain is dependent on the trustworthiness of the contributors. Hardware security modules are being used to protect the cryptographic keys used for authentication and encryption to ensure the contributors and contributions to blockchain are trusted.

“Europe is expected to hold the largest market for Hardware security modules during the forecast period”

The European market for hardware security modules has been segmented into Germany, the UK, France, Italy, the Netherlands, and the Rest of Europe. The thriving BFSI, IT & Telecommunications, and medical and life sciences, along with the automotive industry in the region, act as an opportunity for the market. The growth of 4G LTE technology in the region and ongoing developments and smaller deployments of 5G infrastructure is expected to drive the need for enhanced network security, leading to increased demand for hardware security modules across the IT and telecommunications sector.

Breakdown of the profile of primary participants:


  • By Company Type: Tier 1 – 30 %, Tier 2 – 38%, and Tier 3 – 32%

  • By Designation: C-level Executives – 44%, Directors - 38%, and Others -18%

  • By Region: APAC – 30%, North America– 25%, Europe – 26%, and RoW – 19%


The major players profiled in this report include:


  • Thales (France)

  • Futurex (US)

  • IBM (US)

  • Hewlett Packard Enterprise (US)

  • Infineon Technologies (Germany)

  • Microchip Technology (US)

  • Utimaco (Germany)


Research Coverage

The study segments the Hardware security modules market report into deployment type (on-premises, cloud), type (LAN Based/Network attached, PCI-Based/Embedded plugins, Smart Cards, USB Based/Portable), by application (payment processing, code and document signing, Security sockets layer (SSL) and Transport security layer (TSL), Authentication, database encryption, PKI and Credential management, application-level encryption) and verticals (banking financial services and insurance, consumer goods & retail, medical & life sciences, public sector/government, energy & power, industrial manufacturing, aerospace & defense, transportation, IT and Telecommunications).The study also provides market size for various segments regarding four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to buy the report

The report would help the market leaders/new entrants in this market in the following ways:


  • This report segments the Hardware security modules market comprehensively provides the closest approximations of the overall market size and those of the sub segments across different applications and regions.

  • The report provides a detailed analysis of the hardware security modules market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.

  • The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.

  • This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers & acquisitions in the Hardware security modules market.

Hardware Security Modules Market with COVID-19 Impact Analysis by Deployment Type (On-premises, Cloud Based), Type (LAN Based/Network Attached, PCI Based, USB Based, Smart Cards ), Applications, Verticals and Geography - Global Forecast to 2026

Table Of Contents

1 Introduction
1.1 Study Objectives
1.2 Definition
1.2.1 General Inclusions And Exclusions
1.2.2 Inclusions And Exclusions At Company Level
1.2.3 Inclusions And Exclusions At Type Level
1.2.4 Inclusions And Exclusions At Deployment Type Level
1.2.5 Inclusions And Exclusions At Application Level
1.2.6 Inclusions And Exclusions At Vertical Level
1.2.7 Inclusions And Exclusions At Regional Level
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Hardware Security Modules Segmentation
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
Table 1 Currency Conversion Rates
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
1.8 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 2 Hardware Security Modules Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List Of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.3 Primaries
2.1.4 Hardware Security Modules Market, Breakdown Of Primaries
2.1.4.1 Primary Interviews With Experts
2.1.4.2 Key Data From Primary Sources
2.1.5 Secondary And Primary Research
2.1.5.1 Key Industry Insights
2.1.5.2 Breakdown Of Primaries
2.2 Market Size Estimation
Figure 3 Market Size Estimation Methodology: Approach 1 (Supply Side)—Revenue Generated By Key Players In Hardware Security Modules Market
Figure 4 Market Size Estimation Methodology: Approach 2 (Supply Side)—Illustration Of Revenue Estimation Of Key Players In Hardware Security Modules Market
Figure 5 Market Size Estimation Methodology: Approach 3 (Demand Side)—Bottom-Up Estimation Of Hardware Security Modules Market, By Deployment Type
2.2.1 Bottom-Up Approach
2.2.1.1 Approach For Estimating Market Size By Bottom-Up Analysis (Demand Side)
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach For Estimating Market Size By Top-Down Analysis (Supply Side)
Figure 7 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown And Data Triangulation
Figure 8 Data Triangulation
2.4 Risk Assessment
2.4.1 Hardware Security Modules Market, Limitations And Associated Risks
Table 2 Limitations And Associated Risks
2.5 Research Assumptions
2.5.1 Research Assumptions
Figure 9 Assumptions For Research Study
2.5.2 Limitations
Figure 10 Limitations For Research Study

3 Executive Summary
3.1 Hardware Security Modules Market: Pre-Covid-19 And Post-Covid-19 Scenario Analysis
Figure 11 Hardware Security Modules Market: Optimistic, Realistic, And Pessimistic Scenario Analysis (2017–2026)
3.2 Hardware Security Modules Market: Realistic Scenario
3.3 Hardware Security Modules Market: Optimistic Scenario
3.4 Hardware Security Modules Market: Pessimistic Scenario
Figure 12 Lan Based/Network Attached Segment To Lead Hardware Security Modules Market From 2021 To 2026
Figure 13 Cloud Segment To Account For Largest Size Of Hardware Security Modules Market From 2021 To 2026
Figure 14 Payment Processing Segment To Account For Largest Size Of Hardware Security Modules Market In 2026
Figure 15 Medical And Life Sciences Segment To Grow At Highest Cagr In Forecast Period
Figure 16 Europe Accounted For Largest Share Of Hardware Security Modules Market In 2020

4 Premium Insights
4.1 Attractive Opportunities In Hardware Security Modules Market
Figure 17 Market Growth Is Attributed To Advancements In Networking And Communication Technologies
4.2 Hardware Security Modules Market, By Deployment Type
Figure 18 Cloud To Hold Larger Market Size Than On-Premise By 2026
4.3 Hardware Security Modules Market For Medical And Life Sciences, By Region
Figure 19 Europe To Hold Largest Share Of Hardware Security Modules Market For Medical And Life Sciences
4.4 Hardware Security Modules Market In 2020
Figure 20 Bfsi And Europe Accounted For Largest Share Of Hardware Security Modules Market In 2020
4.5 Hardware Security Modules Market, By Region
Figure 21 Hardware Security Modules Market In North America To Grow At Highest Cagr During Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 22 Market Dynamics: Overview
5.2.1 Drivers
Figure 23 Drivers And Their Impact
5.2.1.1 Increase In Data Breaches And Cyberattacks
Figure 24 Number Of Cyberattacks In Us (2005–2020)
5.2.1.2 Stringent Data Security Compliances To Drive The Demand Of Hardware Security Modules
5.2.1.3 Requirement For Effective Management Of Cryptographic Keys
5.2.2 Restraints
Figure 25 Restraints And Their Impact
5.2.2.1 Costs Associated With Hardware Security Modules
5.2.2.2 Strong Inclination Of Customers Toward Adoption Of Hardware Security Modules On Rental Basis
5.2.3 Opportunities
Figure 26 Opportunities And Their Impact
5.2.3.1 Demand For Data Security In Cloud Environments
5.2.3.2 Advent Of Smart Cities And Iot To Open New Latent Growth Opportunities
5.2.4 Challenges
Figure 27 Challenges And Their Impact
5.2.4.1 Discovering Sensitive Data And Understanding Importance Of Protecting It By Organizations
5.2.4.2 Inability To Control Key Management From Outside Physical Protection Boundary Of Hardware Security Modules

6 Industry Trends
6.1 Value Chain Analysis
Figure 28 Hardware Security Modules Value Chain
6.1.1 Research, Design, And Development
6.1.2 Raw Material Suppliers
6.1.3 Oems
6.1.4 System Integrators
6.1.5 Suppliers And Distributors
6.1.6 Verticals
6.2 Ecosystem Analysis
Table 3 Hardware Security Modules Market: Ecosystem
Figure 29 Key Players In Smart Card Market Ecosystem
6.3 Technological Trends
6.3.1 Commercialization Of Iot
6.3.2 Emergence Of 5g
6.3.3 Increasing Demand For Hardware Security Modules In Contactless Smart Cards
6.4 Average Selling Price (Asp) Trends
Figure 30 Average Selling Price (Usd)
6.5 Patents Analysis
Table 4 Patents Related To Hardware Security Modules
Figure 31 Number Of Patents For Hardware Security Modules From 2010 To 2020
Table 5 Top 10 Patent Owners For Hardware Security Modules
6.6 Trade Data
Figure 32 Exports Data For Products Under Hs Code 8471, By Country, 2016–2020 (Usd Million)
Figure 33 Imports Data For Products Under Hs Code 8471, By Country, 2016–2020 (Usd Million
6.7 Tariffs And Regulatory Landscape
6.7.1 Global Regulations Focused On Fraud Prevention And Standardization
6.7.2 This Standard Impacts:
6.7.3 Regulations In The Us Focused On Consumer Protection
6.7.4 Regulations In Europe Focused On Standardization
6.7.5 Regulations In Apac Focused On Domestic Payment Networks
6.8 Porter’s Five Forces Analysis
Figure 34 Hardware Security Modules Market: Porter’s Five Forces Analysis
Table 6 Porter’s Five Forces
Figure 35 Hardware Security Modules Market: Impact Of Each Force On Market
6.8.1 Threat Of New Entrants
6.8.2 Threat Of Substitutes
6.8.3 Bargaining Power Of Suppliers
6.8.4 Bargaining Power Of Buyers
6.8.5 Intensity Of Competitive Rivalry
6.9 Case Studies
6.9.1 Farmers & Merchants Bank Implemented Card@Once Solution By Cpi Card Group
6.9.2 Rbs Deployed Fingerprint Biometric Cards For Payments For First Time In Uk
6.9.3 Mastercard, Idemia, And Matchmove Partnered To Launch Biometric Cards In Asia

7 Hardware Security Modules Market, By Deployment Type
7.1 Introduction
Figure 36 Cloud Deployment Type To Exhibit Higher Cagr In Hardware Security Module Market From 2021 To 2026
Table 7 Hardware Security Module Market, By Deployment Type, 2017–2020 (Usd Million)
Table 8 Hardware Security Module Market, By Deployment Type, 2021–2026 (Usd Million)
7.2 On-Premise
7.2.1 Need For Complete Control Drives Demand For On-Premise Deployment Of Hardware Security Modules
Table 9 Hardware Security Module Market For On-Premise, By Vertical, 2017–2020 (Usd Million)
Table 10 Hardware Security Module Market For On-Premise, By Vertical, 2021–2026 (Usd Million)
7.3 Cloud
7.3.1 Cost-Effectiveness Of Cloud-Based Hardware Security Modules Will Drive Market Growth
Table 11 Hardware Security Module Market For Cloud, By Vertical, 2017–2020 (Usd Million)
Table 12 Hardware Security Module Market For Cloud, By Vertical, 2021–2026 (Usd Million)

8 Hardware Security Modules Market, By Application
8.1 Introduction
Figure 37 Authentication To Exhibit Highest Cagr In Hardware Security Module Market From 2021 To 2026
Table 13 Hardware Security Modules Market, By Application, 2017–2020 (Usd Million)
Table 14 Hardware Security Modules Market, By Application, 2021–2026 (Usd Million)
Table 15 Hardware Security Modules Market In North America, By Application, 2017–2020 (Usd Million)
Table 16 Hardware Security Modules Market In North America, By Application, 2021–2026 (Usd Million)
Table 17 Hardware Security Modules Market In Europe, By Application, 2017–2020 (Usd Million)
Table 18 Hardware Security Modules Market In Europe, By Application, 2021–2026 (Usd Million)
Table 19 Hardware Security Modules Market In Apac, By Application, 2017–2020 (Usd Million)
Table 20 Hardware Security Modules Market In Apac, By Application, 2021–2026 (Usd Million)
Table 21 Hardware Security Modules Market In Row, By Application, 2017–2020 (Usd Million)
Table 22 Hardware Security Modules Market In Row, By Application, 2021–2026 (Usd Million)
8.2 Payment Processing
8.2.1 Sophisticated Payment Processing Methods Are In Demand For Improving Electronic Transactions
8.3 Code And Document Signing
8.3.1 High Adoption In Code And Document Signing To Boost Demand For Hardware Security Modules
8.4 Security Sockets Layer (Ssl) And Transport Security Layer (Tsl)
8.4.1 Increased Demand For Ssl And Tsl Drives Demand For Hardware Security Modules In It And Telecommunications
8.5 Authentication
8.5.1 Growing Need For Hardware Security Modules In Authentication Application Propels Market Growth
8.6 Database Encryption
8.6.1 Strong Focus On Protecting Data Through Encryption Would Boost Demand For Hardware Security Modules
8.7 Pki And Credential Management
8.7.1 Escalated Demand For Hardware Security Modules In Credential Management To Enable Users To Safely Transmit Data
8.8 Application-Level Encryption
8.8.1 Requirement To Enhance Efficiency And Accuracy Of Compliances Drives Demand For Hardware Security Modules

9 Hardware Security Modules Market, By Type
9.1 Introduction
Figure 38 Usb Based/Portable To Exhibit Highest Cagr In Hardware Security Module Market From 2021 To 2026
Table 23 Hardware Security Modules Market, By Type, 2017–2020 (Usd Million)
Table 24 Hardware Security Modules Market, By Type, 2021–2026 (Usd Million)
Table 25 Hardware Security Modules Market In North America, By Type, 2017–2020 (Usd Million)
Table 26 Hardware Security Modules Market In North America, By Type, 2021–2026 (Usd Million)
Table 27 Hardware Security Modules Market In Europe, By Type, 2017–2020 (Usd Million)
Table 28 Hardware Security Modules Market In Europe, By Type, 2021–2026 (Usd Million)
Table 29 Hardware Security Modules Market In Apac, By Type, 2017–2020 (Usd Million)
Table 30 Hardware Security Modules Market In Apac, By Type, 2021–2026 (Usd Million)
Table 31 Hardware Security Modules Market In Row, By Type, 2017–2020 (Usd Thousand)
Table 32 Hardware Security Modules Market In Row, By Type, 2021–2026 (Usd Thousand)
9.2 Lan-Based/Network-Attached Hsm
9.2.1 Lan-Based Hsm Can Act As A Centralized Key Management System
9.3 Pci-Based Or Embedded Plugin Hsm
9.3.1 Pci-Based Hsm Can Secure Entire Electronic Control Unit (Ecu)
9.4 Usb Based Or Portable Hsm
9.4.1 Portable Hsm Can Perform Encryption And Key Protection
9.5 Smart Cards
9.5.1 Smart Cards Store Data And Protect Communication Networks

10 Hardware Security Modules Market, By Vertical
10.1 Introduction
Figure 39 Medical & Life Sciences Vertical To Grow At Highest Cagr In Hardware Security Modules Market From 2021 To 2026
Table 33 Hardware Security Modules Market, By Vertical, 2017–2020 (Usd Million)
Table 34 Hardware Security Modules Market, By Vertical, 2021–2026 (Usd Million)
10.2 Banking, Financial Services And Insurance
10.2.1 Hardware Security Modules Help Mitigate Risks Of Online Financial Frauds
Table 35 Hardware Security Modules Market For Bfsi In North America, By Country, 2017–2020 (Usd Million)
Table 36 Hardware Security Modules Market For Bfsi In North America, By Country, 2021–2026 (Usd Million)
Table 37 Hardware Security Modules Market For Bfsi In Europe, By Country, 2017–2020 (Usd Million)
Table 38 Hardware Security Modules Market For Bfsi In Europe, By Country, 2021–2026 (Usd Million)
Table 39 Hardware Security Modules Market For Bfsi In Apac, By Country, 2017–2020 (Usd Million)
Table 40 Hardware Security Modules Market For Bfsi In Apac, By Country, 2021–2026 (Usd Million)
Table 41 Hardware Security Modules Market For Bfsi In Row, By Region, 2017–2020 (Usd Million)
Table 42 Hardware Security Modules Market For Bfsi In Row, By Country, 2021–2026 (Usd Million)
10.3 It & Telecommunications
10.3.1 Need For Strong Authentication And Device Security Along With Developments In 5g Infrastructure Are Driving Market Growth
Table 43 Hardware Security Modules Market For It & Telecommunications In North America, By Country, 2017–2020 (Usd Million)
Table 44 Hardware Security Modules Market For It & Telecommunications In North America, By Country, 2021–2026 (Usd Million)
Table 45 Hardware Security Modules Market For It & Telecommunications In Europe, By Country, 2017–2020 (Usd Million)
Table 46 Hardware Security Modules Market For It & Telecommunications In Europe, By Country, 2021–2026 (Usd Million)
Table 47 Hardware Security Modules Market For It & Telecommunications In Apac, By Country, 2017–2020 (Usd Million)
Table 48 Hardware Security Modules Market For It & Telecommunications In Apac, By Country, 2021–2026 (Usd Million)
Table 49 Hardware Security Modules Market For It & Telecommunications In Row, By Region, 2017–2020 (Usd Million)
Table 50 Hardware Security Modules Market For It & Telecommunications In Row, By Region, 2021–2026 (Usd Million)
10.4 Public Sector/Government
10.4.1 Need For Prolonged Data Protection Irrespective Of Location Is Expected To Drive Demand For Hardware Security Modules
Table 51 Hardware Security Modules Market For Public Sector/Government In North America, By Country, 2017–2020 (Usd Million)
Table 52 Hardware Security Modules Market For Public Sector/Government In North America, By Country, 2021–2026 (Usd Million)
Table 53 Hardware Security Modules Market For Public Sector/Government In Europe, By Country, 2017–2020 (Usd Million)
Table 54 Hardware Security Modules Market For Public Sector/Government In Europe, By Country, 2021–2026 (Usd Million)
Table 55 Hardware Security Modules Market For Public Sector/Government In Apac, By Country, 2017–2020 (Usd Thousand)
Table 56 Hardware Security Modules Market For Public Sector/Government In Apac, By Country, 2021–2026 (Usd Thousand)
Table 57 Hardware Security Modules Market For Public Sector/Government In Row, By Region, 2017–2020 (Usd Thousand)
Table 58 Public Sector/Government Hardware Security Modules Market In Row, By Region, 2021–2026 (Usd Thousand)
10.5 Industrial Manufacturing
10.5.1 Exchange Of Data Across Multiple Business Levels Is Facilitated Using Hardware Security Modules
Table 59 Hardware Security Modules Market For Industrial Manufacturing In North America, By Country, 2017–2020 (Usd Million)
Table 60 Hardware Security Modules Market For Industrial Manufacturing In North America, By Country, 2021–2026 (Usd Million)
Table 61 Hardware Security Modules Market For Industrial Manufacturing In Europe, By Country, 2017–2020 (Usd Million)
Table 62 Hardware Security Modules Market For Industrial Manufacturing In Europe, By Country, 2021–2026 (Usd Million)
Table 63 Hardware Security Modules Market For Industrial Manufacturing In Apac, By Country, 2017–2020 (Usd Million)
Table 64 Hardware Security Modules Market For Industrial Manufacturing In Apac, By Country, 2021–2026 (Usd Million)
Table 65 Hardware Security Modules Market For Industrial Manufacturing In Row, By Region, 2017–2020 (Usd Million)
Table 66 Hardware Security Modules Market For Industrial Manufacturing In Row, By Region, 2021–2026 (Usd Million)
10.6 Energy & Power
10.6.1 Critical Infrastructure Facilities Require Integration Of Hardware Security Modules To Enhance Security Protocols
Table 67 Hardware Security Modules Market For Energy & Power In North America, By Country, 2017–2020 (Usd Million)
Table 68 Hardware Security Modules Market For Energy & Power In North America, By Country, 2021–2026 (Usd Million)
Table 69 Hardware Security Modules Market For Energy & Power In Europe, By Country, 2017–2020 (Usd Million)
Table 70 Hardware Security Modules Market For Energy & Power In Europe, By Country, 2021–2026 (Usd Million)
Table 71 Hardware Security Modules Market For Energy & Power In Apac, By Country, 2017–2020 (Usd Million)
Table 72 Hardware Security Modules Market For Energy & Power In Apac, By Country, 2021–2026 (Usd Million)
Table 73 Hardware Security Modules Market For Energy & Power In Row, By Region, 2017–2020 (Usd Million)
Table 74 Hardware Security Modules Market For Energy & Power In Row, By Region, 2021–2026 (Usd Million)
10.7 Consumer Goods & Retail
10.7.1 Securing Proprietary Information Is Crucial To Retail Sector And Will Drive Demand For Hsm
Table 75 Hardware Security Modules Market For Consumer Goods & Retail In North America, By Country, 2017–2020 (Usd Million)
Table 76 Hardware Security Modules Market For Consumer Goods & Retail In North America, By Country, 2021–2026 (Usd Million)
Table 77 Hardware Security Modules Market For Consumer Goods & Retail In Europe, By Country, 2017–2020 (Usd Million)
Table 78 Hardware Security Modules Market For Consumer Goods & Retail In Europe, By Country, 2021–2026 (Usd Million)
Table 79 Hardware Security Modules Market For Consumer Goods & Retail In Apac, By Country, 2017–2020 (Usd Million)
Table 80 Hardware Security Modules Market For Consumer Goods & Retail In Apac, By Country, 2021–2026 (Usd Million)
Table 81 Hardware Security Modules Market For Consumer Goods & Retail In Row, By Region, 2017–2020 (Usd Million)
Table 82 Hardware Security Modules Market For Consumer Goods & Retail In Row, By Region, 2021–2026 (Usd Million)
10.8 Medical & Life Sciences
10.8.1 Need Of Sharing Data Only Across Trusted Partners And Devices Drives Demand For Hardware Security Modules
Table 83 Hardware Security Modules Market For Medical & Life Sciences In North America, By Country, 2017–2020 (Usd Million)
Table 84 Hardware Security Modules Market For Medical & Life Sciences In North America, By Country, 2021–2026 (Usd Million)
Table 85 Hardware Security Modules Market For Medical & Life Sciences In Europe, By Country, 2017–2020 (Usd Million)
Table 86 Hardware Security Modules Market For Medical & Life Sciences In Europe, By Country, 2021–2026 (Usd Million)
Table 87 Hardware Security Modules Market For Medical & Life Sciences In Apac, By Country, 2017–2020 (Usd Million)
Table 88 Hardware Security Modules Market For Medical & Life Sciences In Apac, By Country, 2021–2026 (Usd Million)
Table 89 Hardware Security Modules Market For Medical & Life Sciences In Row, By Region, 2017–2020 (Usd Million)
Table 90 Hardware Security Modules Market For Medical & Life Sciences In Row, By Region, 2021–2026 (Usd Million)
10.9 Aerospace & Defense
10.9.1 Hardware Security Modules Are Used To Safeguard Critical Data Of Aerospace & Defense Industry
Table 91 Hardware Security Modules Market For Aerospace & Defense In North America, By Country, 2017–2020 (Usd Million)
Table 92 Hardware Security Modules Market For Aerospace & Defense In North America, By Country, 2021–2026 (Usd Million)
Table 93 Hardware Security Modules Market For Aerospace & Defense In Europe, By Country, 2017–2020 (Usd Million)
Table 94 Hardware Security Modules Market For Aerospace & Defense In Europe, By Country, 2021–2026 (Usd Million)
Table 95 Hardware Security Modules Market For Aerospace & Defense In Apac, By Country, 2017–2020 (Usd Thousand)
Table 96 Hardware Security Modules Market For Aerospace & Defense In Apac, By Country, 2021–2026 (Usd Thousand)
Table 97 Hardware Security Modules Market For Aerospace & Defense In Row, By Region, 2017–2020 (Usd Million)
Table 98 Hardware Security Modules Market For Aerospace & Defense In Row, By Country, 2021–2026 (Usd Million)
10.10 Transportation
10.10.1 Developments In Connected Cars Will Drive Market Growth
Table 99 Hardware Security Modules Market For Transportation In North America, By Country, 2017–2020 (Usd Million)
Table 100 Hardware Security Modules Market For Transportation In North America, By Country, 2021–2026 (Usd Million)
Table 101 Hardware Security Modules Market For Transportation In Europe, By Country, 2017–2020 (Usd Million)
Table 102 Hardware Security Modules Market For Transportation In Europe, By Country, 2021–2026 (Usd Million)
Table 103 Hardware Security Modules Market For Transportation In Apac, By Country, 2017–2020 (Usd Million)
Table 104 Hardware Security Modules Market For Transportation In Apac, By Country, 2021–2026 (Usd Million)
Table 105 Hardware Security Modules Market For Transportation In Row, By Region, 2017–2020 (Usd Thousand)
Table 106 Hardware Security Modules Market For Transportation In Row, By Region, 2021–2026 (Usd Thousand)

11 Geographic Analysis
11.1 Introduction
Figure 40 Geographic Snapshot: Hardware Security Modules Market In Row To Grow At Highest Cagr During Forecast Period
Figure 41 Europe To Dominate Hardware Security Module Throughout Forecast Period
Table 107 Hardware Security Modules Market, By Region, 2017–2020 (Usd Million)
Table 108 Hardware Security Modules Market, By Region, 2021–2026 (Usd Million)
11.2 North America
Table 109 Hardware Security Modules Market In North America, By Country, 2017–2020 (Usd Million)
Table 110 Hardware Security Modules Market In North America, By Country, 2021–2026 (Usd Million)
Figure 42 North America: Snapshot Of Hardware Security Modules Market
11.2.1 Us
11.2.1.1 Surging Adoption Of Communication Devices To Facilitate High-Quality Encrypted Services Drives Demand For Hsms
11.2.2 Canada
11.2.2.1 Expected Demand For Cloud-Based Hardware Security Modules Would Drive Market Growth In Canada
11.2.3 Mexico
11.2.3.1 Rising Demand For Improved Network Security Across Automotive Manufacturing Plants To Drive Market Growth
11.3 Europe
Table 111 Hardware Security Modules Market In Europe, By Country, 2017–2020 (Usd Million)
Table 112 Hardware Security Modules Market In Europe, By Country, 2021–2026 (Usd Million)
Figure 43 Europe: Snapshot Of Hardware Security Modules Market
11.3.1 Germany
11.3.1.1 Automotive Industry Is Expected To Drive Demand For Hardware Security Modules Across Connected Networks
11.3.2 Uk
11.3.2.1 Increasing Adoption Of Advanced Interconnected Technologies To Foster Market Growth
11.3.3 France
11.3.3.1 Rising Adoption Of Hardware Security Modules In Aerospace And Medical & Life Sciences Verticals
11.3.4 Italy
11.3.4.1 Expected Surge In Adoption Of Hardware Security Modules In Automotive And Aerospace & Defense Verticals
11.3.5 Netherlands
11.3.5.1 Booming Consumer Goods & Retail And Industrial Manufacturing Verticals To Help Revive Demand For Hardware Security Modules
11.3.6 Russia
11.3.7 Rest Of Europe
11.4 Apac
Table 113 Hardware Security Modules Market In Apac, By Country, 2017–2020 (Usd Million)
Table 114 Hardware Security Modules Market In Apac, By Country, 2021–2026 (Usd Million)
Figure 44 Apac: Snapshot Of Hardware Security Modules Market
11.4.1 China
11.4.1.1 Growth Of Different Manufacturing Facilities Drives Demand For Hardware Security Modules In China
11.4.2 Japan
11.4.2.1 Thriving Consumer Goods & Retail, Medical Devices, And It & Telecommunications Industries To Drive Demand For Hardware Security Modules
11.4.3 India
11.4.3.1 Ongoing Initiatives To Boost Foreign Direct Investments To Support Market Growth
11.4.4 South Korea
11.4.4.1 Surging Adoption Of Hardware Security Modules In Consumer Goods & Retail Sector Continues To Drive Market Growth Amidst Pandemic
11.4.5 Australia
11.4.5.1 Rising Adoption Of Hardware Security Modules By It And Telecom Service Providers To Promote Market Growth
11.4.6 Rest Of Apac
11.5 Row
Table 115 Hardware Security Modules Market In Row, By Country, 2017–2020 (Usd Million)
Table 116 Hardware Security Modules Market In Row, By Country, 2021–2026 (Usd Million)
Figure 45 Row: Snapshot Of Hardware Security Modules Market
11.5.1 South America
11.5.1.1 Brazil
11.5.1.1.1 Booming Healthcare Industry To Create Revenue Pockets For Providers Of Hardware Security Modules
11.5.1.2 Argentina
11.5.1.2.1 Government Initiatives To Boost Economic Growth Would Drive Demand For Hardware Security Modules
11.5.1.3 Rest Of South America
11.5.2 Middle East & Africa
11.5.2.1 Saudi Arabia
11.5.2.1.1 Preventive Measures Adopted By Government Will Help Revive Demand For Hardware Security Modules
11.5.2.2 United Arab Emirates (Uae)
11.5.2.2.1 Government Policies To Boost Market Growth Would Help Drive Demand During Forecast Period
11.5.2.3 Rest Of Middle East And Africa

12 Competitive Landscape
12.1 Overview
Figure 46 Companies Adopted Product Launches And Developments As Key Growth Strategies From January 2018 To March 2021
12.2 Market Share Analysis
Table 117 Hardware Security Modules Market: Degree Of Competition
Table 118 Hardware Security Modules Market: Market Ranking Analysis
12.3 Revenue Analysis, 2016–2020
Figure 47 Five-Year Revenue Snapshot Of Key Companies (Usd Million)
12.4 Company Evaluation Quadrant, 2020
12.4.1 Star
12.4.2 Pervasive
12.4.3 Emerging Leader
12.4.4 Participant
Figure 48 Hardware Security Modules Market (Global) Company Evaluation Quadrant, 2020
12.5 Competitive Benchmarking
12.5.1 Product Footprint (14 Companies)
Table 119 Type Footprint Of Companies (25 Companies)
Table 120 Deployment Type Footprint Of Companies (25 Companies)
Table 121 Regional Footprint Of Companies (25 Companies)
Table 122 Overall Footprint Of Companies (25 Companies)
12.6 Startup/Sme Evaluation Quadrant, 2020
12.6.1 Progressive Company
12.6.2 Responsive Company
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
Figure 49 Hardware Security Modules Market (Global) Startup/Sme Evaluation Quadrant, 2020
12.7 Competitive Scenario And Trends
12.7.1 Product Launches And Developments
Table 123 Hardware Security Modules Market: Product Launches And Developments, January 2018–March 2021
12.7.2 Deals
Table 124 Large Format Market: Deals, January 2018–March 2021

13 Company Profiles
13.1 Key Companies
(Business Overview, Products, Key Insights, Recent Developments, Mnm View)*
13.1.1 Thales
Table 125 Thales: Business Overview
Figure 50 Thales: Company Snapshot
Table 126 Thales: Products Offered
Table 127 Thales E-Security: Product Launches
Table 128 Thales: Deals
13.1.2 Stmicroelectronics
Table 129 Stmicroelectronics: Business Overview
Figure 51 Stmicroelectronics: Company Snapshot
Table 130 Stmicroelectronics: Products Offered
Table 131 Stmicroelectronics: Product Launches
13.1.3 Ibm
Table 132 Ibm: Business Overview
Figure 52 Ibm: Company Snapshot
Table 133 Ibm: Products Offered
Table 134 Ibm: Deals
13.1.4 Infineon Technologies
Table 135 Infineon Technologies: Business Overview
Figure 53 Infineon Technologies: Company Snapshot
Table 136 Infineon Technologies: Products Offered
Table 137 Infineon Technologies: Deals
13.1.5 Hewlett Packard Enterprise
Table 138 Hewlett Packard Enterprise: Business Overview
Figure 54 Hpe: Company Snapshot
Table 139 Hewlett Packard Enterprise: Products Offered
Table 140 Hewlett Packard Enterprise: Deals
13.1.6 Microchip Technology
Table 141 Microchip Technologies: Business Overview
Figure 55 Microchip Technologies: Company Snapshot
Table 142 Microchip Technology: Products Offered
13.1.7 Futurex
Table 143 Futurex: Business Overview
Table 144 Futurex: Products Offered
Table 145 Futurex: Product Launches
Table 146 Futurex: Deals
13.1.8 Atos Se
Table 147 Atos Se: Business Overview
Figure 56 Atos: Company Snapshot
Table 148 Atos Se: Products Offered
Table 149 Atos Se: Product Launches
Table 150 Atos Se: Deals
13.1.9 Yubico
Table 151 Yubico: Business Overview
Table 152 Yubico: Products Offered
Table 153 Yubico: Product Launches
Table 154 Yubico: Deals
13.1.10 Utimaco
Table 155 Utimaco: Business Overview
Table 156 Utimaco: Products Offered
Table 157 Utimaco: Product Launches
Table 158 Utimaco: Deals
13.1.11 Swift
Table 159 Swift: Business Overview
Figure 57 Swift: Company Snapshot
Table 160 Swift: Products Offered
13.1.12 Securosys
Table 161 Securosys: Business Overview
Table 162 Securosys: Products Offered
Table 163 Securosys: Product Launches
Table 164 Securosys: Deals
13.1.13 Spyrus
Table 165 Spyrus: Business Overview
Table 166 Spyrus: Products Offered
Table 167 Spyrus: Product Launches
*Details On Business Overview, Products, Key Insights, Recent Developments, Mnm View Might Not Be Captured In Case Of Unlisted Companies.
13.2 Other Players
13.2.1 Ledger
Table 168 Ledger: Company Overview
13.2.2 Ultra Electronics
Table 169 Ultra Electronics: Company Overview
13.2.3 Adweb Technologies
Table 170 Adweb Technologies: Company Overview
13.2.4 Efficient India
Table 171 Efficient India: Company Overview
13.2.5 Lattice Semiconductors
Table 172 Lattice Semiconductors: Company Overview
13.2.6 Ellipticsecure
Table 173 Ellipticsecure: Company Overview
13.2.7 Amazon Inc.
Table 174 Amazon Inc.: Company Overview
13.2.8 Entrust Security
Table 175 Entrust Security: Company Overview
13.2.9 Assa Abloy
Table 176 Assa Abloy: Company Overview
13.2.10 Sansec Technology
Table 177 Sansec Technology: Company Overview
13.2.11 Micro Focus
Table 178 Micro Focus: Company Overview
13.2.12 Realsec
Table 179 Realsec: Company Overview

14 Appendix
14.1 Insights From Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.4 Available Customizations
14.5 Related Reports
14.6 Author Details

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