ハードウェアセキュリティモジュールの世界市場：タイプ別、技術別、展開タイプ別、用途別、業界別、地域別 - 2030年までの予測

ハードウェアセキュリティモジュールの市場規模は、2025年の16億6,000万米ドルから2030年には32億8,000万米ドルに成長し、予測期間中のCAGRは14.5％になると予測されています。

ハードウェアセキュリティモジュール市場は、データ漏洩、サイバー攻撃、規制遵守要件が各分野で増加しているため、力強い成長傾向を示しています。企業組織は膨大な量の機密情報を扱うため、安全な暗号化キー管理と暗号化操作はミッションクリティカルな優先事項になっています。電子バンキング、金銭取引、ID管理技術のかつてない成長は、データに完全性、認証、機密性を提供する安全なハードウェアベースのセキュリティフレームワークのニーズを促進しています。

SSLおよびTLS向けハードウェアセキュリティモジュール市場は、2030年までの予測期間中に最も高いCAGRで成長すると予測されます。成長の原動力となっているのは、拡大するデジタル環境における安全なデータトランスミッション、暗号化されたウェブ通信、認証に対する需要の高まりです。非公開会社は、クラウドコンピューティングへの移行に伴い、リモートアクセス、ウェブベースのアプリケーション、SSL/TLS証明書、秘密鍵、暗号化プロセスの保護を優先しています。暗号化通信チャネルの普及は、HSMのようなハードウェアベースのセキュリティ・ソリューションの重要性を浮き彫りにしています。HSMは、暗号鍵の改ざん防止ストレージと管理を提供し、中間者（MITM）攻撃、フィッシング、SSL/TLS証明書の漏洩などのサイバー攻撃から保護します。さらに、接続されたモノ、ネットワーク、アプリケーション間のデータ交換を保護するために暗号化通信が不可欠なIoT、5G、エッジコンピューティングの採用が増加していることが、市場の成長を後押ししています。

様々な業界で安全なデータ保護の需要が高まっており、強力な鍵管理ソリューションが求められていることから、汎用暗号の市場が最も高い市場シェアを占めると予測されます。デジタルトランスフォーメーションが加速し、企業がより多くの業務をクラウドに移行する中、機密データを保護するための暗号化への依存度が高まっています。暗号化、復号化、鍵の取り扱い、デジタル署名の作成をカバーする汎用暗号は、金融機関、ヘルスケア組織、政府部門、企業におけるデータのやり取りを保護する上で中心的な役割を担っています。ブロックチェーン、loT、セキュアペイメントなどの次世代技術と連携した汎用暗号の採用拡大も、このセグメントの成長を後押ししています。金融や通信などのビジネスは、安全な通信チャネルや決済トランザクションに基づいているため、円滑で安全なオペレーションを促進する汎用暗号HSMが必要とされています。

インドのハードウェアセキュリティモジュール市場は、強力なデジタル化、フィンテック産業の成長、部門を超えたサイバーセキュリティソリューションの利用増加などを背景に、高いCAGRを記録すると予測されています。インドは世界で最も急速に経済成長している国のひとつであり、オンライン取引、eコマース、クラウドコンピューティングの利用が急増しています。このため、機密情報を保護するために、HSMのような強力な暗号化ソリューションに対する需要が高まっています。デジタル・インディア」や「メイク・イン・インディア」といったインド政府のプログラムは、BFSI、ヘルスケア、IT、製造業などの重要産業における技術導入を促進し、HSMの需要をさらに刺激しています。こうした進歩がHSMの需要を高めています。インドのデータ保護法も市場の成長を後押ししています。インドの2023年デジタル個人データ保護法（DPDP）は、個人情報や金融情報を保護するための暗号化とセキュリティ対策の必要性を強調しています。インド準備銀行は、銀行や決済サービス・プロバイダーに厳格なサイバーセキュリティ・コンプライアンスを要求しており、機密データの暗号化だけでなく、認証鍵管理のためにHSMを導入するインセンティブを与えています。第二に、物流、農業、金融などの分野でブロックチェーン主導のアプリケーションが急増していることも、デジタル署名や暗号証券を認証するためのHSM導入の増加に拍車をかけています。

当レポートでは、世界のハードウェアセキュリティモジュール市場について調査し、タイプ別、技術別、展開タイプ別、用途別、業界別、地域別動向、および市場に参入する企業のプロファイルなどをまとめています。

目次

第1章 イントロダクション

第2章 調査手法

第3章 エグゼクティブサマリー

第4章 重要考察

第5章 市場概要

• イントロダクション
• 市場力学
• 顧客ビジネスに影響を与える動向/混乱
• 価格分析
• サプライチェーン分析
• エコシステム分析
• 技術分析
• 特許分析
• 貿易分析
• 2025年～2026年の主な会議とイベント
• ケーススタディ分析
• 投資と資金調達のシナリオ
• 関税と規制状況
• ポーターのファイブフォース分析
• 主要な利害関係者と購入プロセス
• ハードウェアセキュリティモジュール市場におけるAIの影響

第6章 ハードウェアセキュリティモジュール市場（タイプ別）

• イントロダクション
• LANベース/ネットワーク接続
• PCIベース/組み込みプラグイン
• USBベース/ポータブル
• スマートカード

第7章 ハードウェアセキュリティモジュール市場（技術別）

• イントロダクション
• 汎用暗号
• 量子暗号

第8章 ハードウェアセキュリティモジュール市場（展開タイプ別）

• イントロダクション
• オンプレミス
• クラウドベース

第9章 ハードウェアセキュリティモジュール市場（用途別）

• イントロダクション
• 決済処理
• コードと文書の署名
• セキュリティソケットレイヤー（SSL）とトランスポートレイヤーセキュリティ（TLS）
• 認証
• データベース暗号化
• 公開鍵インフラストラクチャ（PKI）と資格情報管理
• アプリケーションレベルの暗号化

第10章 ハードウェアセキュリティモジュール市場（業界別）

• イントロダクション
• BFSI
• IT・通信
• 公共部門・政府
• 工業製造
• エネルギー・電力
• 消費財・小売
• 医療・生命科学
• 航空宇宙・防衛
• 輸送

第11章 ハードウェアセキュリティモジュール市場（地域別）

• イントロダクション
• 北米
  • 北米のマクロ経済見通し
  • 米国
  • カナダ
  • メキシコ
• 欧州
  • 欧州のマクロ経済見通し
  • ドイツ
  • 英国
  • フランス
  • イタリア
  • その他
• アジア太平洋
  • アジア太平洋のマクロ経済見通し
  • 中国
  • 日本
  • インド
  • 韓国
  • オーストラリア
  • その他
• その他の地域
  • その他の地域のマクロ経済見通し
  • 南米
  • 中東・アフリカ

第12章 競合情勢

• イントロダクション
• 主要参入企業の戦略/強み、2020年～2024年
• 収益分析、2020年～2023年
• 市場シェア分析、2024年
• 企業評価と財務指標、2024年
• ブランド/製品比較
• 企業評価マトリックス：主要参入企業、2024年
• 企業評価マトリックス：スタートアップ/中小企業、2024年
• 競合シナリオ

第13章 企業プロファイル

• 主要参入企業
  • THALES
  • UTIMACO MANAGEMENT SERVICES GMBH
  • FUTUREX
  • IBM
  • ENTRUST CORPORATION
  • ATOS SE
  • STMICROELECTRONICS
  • MICROCHIP TECHNOLOGY INC.
  • INFINEON TECHNOLOGIES AG
  • YUBICO
  • DINAMO NETWORKS
• その他の企業
  • SECUROSYS
  • SPYRUS
  • ADWEB TECHNOLOGIES
  • LATTICE SEMICONDUCTOR
  • ELLIPTICSECURE
  • AMAZON WEB SERVICES, INC.
  • ETAS
  • SANSEC
  • FORTANIX
  • JISA SOFTECH PVT. LTD.
  • MICROSOFT
  • NITROKEY
  • KRYPTOAGILE SOLUTIONS PVT. LTD.
  • KRYPTUS
  • CRYPTO4A

第14章 付録

List of Tables

• TABLE 1 HARDWARE SECURITY MODULES MARKET: RISK ANALYSIS
• TABLE 2 AVERAGE SELLING PRICE TREND OF HSMS OFFERED BY KEY PLAYERS, 2024 (USD)
• TABLE 3 AVERAGE SELLING PRICE TREND OF HSMS, BY TYPE, 2021-2024 (USD)
• TABLE 4 AVERAGE SELLING PRICE TREND OF LAN-BASED/NETWORK-ATTACHED HSMS, BY REGION, 2021-2024 (USD)
• TABLE 5 COMPANIES AND THEIR ROLES IN ECOSYSTEM
• TABLE 6 LIST OF PATENTS, 2021-2024
• TABLE 7 IMPORT DATA FOR HS CODE 8471-COMPLIANT PRODUCTS, BY COUNTRY, 2019-2023 (USD MILLION)
• TABLE 8 EXPORT DATA FOR HS CODE 8471-COMPLIANT PRODUCTS, BY COUNTRY, 2019-2023 (USD MILLION)
• TABLE 9 HARDWARE SECURITY MODULES MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2025-2026
• TABLE 10 IMPORT TARIFFS FOR HS CODE 8471-COMPLIANT PRODUCTS, BY COUNTRY, 2023
• TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
• TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
• TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
• TABLE 14 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
• TABLE 15 HARDWARE SECURITY MODULES MARKET: PORTER'S FIVE FORCES ANALYSIS
• TABLE 16 IMPACT OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS (%)
• TABLE 17 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
• TABLE 18 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (USD MILLION)
• TABLE 19 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (USD MILLION)
• TABLE 20 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (THOUSAND UNITS)
• TABLE 21 HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (THOUSAND UNITS)
• TABLE 22 LAN-BASED/NETWORK-ATTACHED: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 23 LAN-BASED/NETWORK-ATTACHED: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 24 PCI-BASED/EMBEDDED PLUGINS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 25 PCI-BASED/EMBEDDED PLUGINS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 26 USB-BASED/PORTABLE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 27 USB-BASED/PORTABLE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 28 SMART CARDS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 29 SMART CARDS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 30 HARDWARE SECURITY MODULES MARKET, BY TECHNOLOGY, 2021-2024 (USD MILLION)
• TABLE 31 HARDWARE SECURITY MODULES MARKET, BY TECHNOLOGY, 2025-2030 (USD MILLION)
• TABLE 32 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 33 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 34 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 35 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 36 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 37 ON-PREMISES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 38 CLOUD-BASED: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 39 CLOUD-BASED: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 40 CLOUD-BASED: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 41 CLOUD-BASED: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 42 HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2021-2024 (USD MILLION)
• TABLE 43 HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2025-2030 (USD MILLION)
• TABLE 44 PAYMENT PROCESSING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 45 PAYMENT PROCESSING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 46 CODE AND DOCUMENT SIGNING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 47 CODE AND DOCUMENT SIGNING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 48 SECURE SOCKET LAYER (SSL) AND TRANSPORT LAYER SECURITY (TLS): HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 49 SECURE SOCKET LAYER (SSL) AND TRANSPORT LAYER SECURITY (TLS): HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 50 AUTHENTICATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 51 AUTHENTICATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 52 DATABASE ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 53 DATABASE ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 54 PUBLIC KEY INFRASTRUCTURE (PKI) AND CREDENTIAL MANAGEMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 55 PUBLIC KEY INFRASTRUCTURE (PKI) AND CREDENTIAL MANAGEMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 56 APPLICATION-LEVEL ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 57 APPLICATION-LEVEL ENCRYPTION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 58 HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 59 HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 60 BFSI: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 61 BFSI: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 62 BFSI: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 63 BFSI: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 64 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 65 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 66 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 67 IT & TELECOMMUNICATIONS: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 68 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 69 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 70 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 71 PUBLIC SECTOR/GOVERNMENT: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 72 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 73 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 74 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 75 INDUSTRIAL MANUFACTURING: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 76 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 77 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 78 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 79 ENERGY & POWER: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 80 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 81 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 82 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 83 CONSUMER GOODS & RETAIL: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 84 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 85 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 86 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 87 MEDICAL & LIFE SCIENCES: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 88 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 89 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 90 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 91 AEROSPACE & DEFENSE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 92 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 93 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 94 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 95 TRANSPORTATION: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 96 HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 97 HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 98 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2021-2024 (USD MILLION)
• TABLE 99 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2025-2030 (USD MILLION)
• TABLE 100 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 101 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 102 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (USD MILLION)
• TABLE 103 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (USD MILLION)
• TABLE 104 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2021-2024 (USD MILLION)
• TABLE 105 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2025-2030 (USD MILLION)
• TABLE 106 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 107 NORTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 108 US: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 109 US: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 110 CANADA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 111 CANADA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 112 MEXICO: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 113 MEXICO: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 114 EUROPE: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2021-2024 (USD MILLION)
• TABLE 115 EUROPE: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2025-2030 (USD MILLION)
• TABLE 116 EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 117 EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 118 EUROPE: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (USD MILLION)
• TABLE 119 EUROPE: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (USD MILLION)
• TABLE 120 EUROPE: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2021-2024 (USD MILLION)
• TABLE 121 EUROPE: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2025-2030 (USD MILLION)
• TABLE 122 EUROPE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 123 EUROPE: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 124 GERMANY: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 125 GERMANY: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 126 UK: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 127 UK: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 128 FRANCE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 129 FRANCE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 130 ITALY: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 131 ITALY: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 132 REST OF EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 133 REST OF EUROPE: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 134 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2021-2024 (USD MILLION)
• TABLE 135 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY COUNTRY, 2025-2030 (USD MILLION)
• TABLE 136 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 137 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 138 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (USD MILLION)
• TABLE 139 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (USD MILLION)
• TABLE 140 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2021-2024 (USD MILLION)
• TABLE 141 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2025-2030 (USD MILLION)
• TABLE 142 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 143 ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 144 CHINA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 145 CHINA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 146 JAPAN: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 147 JAPAN: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 148 INDIA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 149 INDIA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 150 SOUTH KOREA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 151 SOUTH KOREA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 152 AUSTRALIA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 153 AUSTRALIA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 154 REST OF ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 155 REST OF ASIA PACIFIC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 156 ROW: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 157 ROW: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 158 ROW: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 159 ROW: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 160 ROW: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2021-2024 (USD MILLION)
• TABLE 161 ROW: HARDWARE SECURITY MODULES MARKET, BY TYPE, 2025-2030 (USD MILLION)
• TABLE 162 ROW: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2021-2024 (USD MILLION)
• TABLE 163 ROW: HARDWARE SECURITY MODULES MARKET, BY APPLICATION, 2025-2030 (USD MILLION)
• TABLE 164 ROW: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2021-2024 (USD MILLION)
• TABLE 165 ROW: HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE, 2025-2030 (USD MILLION)
• TABLE 166 SOUTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 167 SOUTH AMERICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 168 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY REGION, 2021-2024 (USD MILLION)
• TABLE 169 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY REGION, 2025-2030 (USD MILLION)
• TABLE 170 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 171 MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 172 GCC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 173 GCC: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 174 REST OF MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2021-2024 (USD MILLION)
• TABLE 175 REST OF MIDDLE EAST & AFRICA: HARDWARE SECURITY MODULES MARKET, BY VERTICAL, 2025-2030 (USD MILLION)
• TABLE 176 HARDWARE SECURITY MODULES MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020-2024
• TABLE 177 HARDWARE SECURITY MODULES MARKET: DEGREE OF COMPETITION
• TABLE 178 HARDWARE SECURITY MODULES MARKET: REGION FOOTPRINT
• TABLE 179 HARDWARE SECURITY MODULES MARKET: TYPE FOOTPRINT
• TABLE 180 HARDWARE SECURITY MODULES MARKET: TECHNOLOGY FOOTPRINT
• TABLE 181 HARDWARE SECURITY MODULES MARKET: DEPLOYMENT TYPE FOOTPRINT
• TABLE 182 HARDWARE SECURITY MODULES MARKET: APPLICATION FOOTPRINT
• TABLE 183 HARDWARE SECURITY MODULES MARKET: VERTICAL FOOTPRINT
• TABLE 184 HARDWARE SECURITY MODULES MARKET: DETAILED LIST OF KEY STARTUPS/SMES, 2024
• TABLE 185 HARDWARE SECURITY MODULES MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES
• TABLE 186 HARDWARE SECURITY MODULES MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, JANUARY 2020-DECEMBER 2024
• TABLE 187 HARDWARE SECURITY MODULES MARKET: DEALS, JANUARY 2020-DECEMBER 2024
• TABLE 188 HARDWARE SECURITY MODULES MARKET: EXPANSIONS, JANUARY 2020-DECEMBER 2024
• TABLE 189 HARDWARE SECURITY MODULES MARKET: OTHER DEVELOPMENTS, JANUARY 2020-DECEMBER 2024
• TABLE 190 THALES: COMPANY OVERVIEW
• TABLE 191 THALES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 192 THALES: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 193 THALES: DEALS
• TABLE 194 UTIMACO: COMPANY OVERVIEW
• TABLE 195 UTIMACO MANAGEMENT SERVICES GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 196 UTIMACO MANAGEMENT SERVICES GMBH: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 197 UTIMACO MANAGEMENT SERVICES GMBH: DEALS
• TABLE 198 UTIMACO: EXPANSIONS
• TABLE 199 FUTUREX: COMPANY OVERVIEW
• TABLE 200 FUTUREX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 201 FUTUREX: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 202 FUTUREX: DEALS
• TABLE 203 IBM: COMPANY OVERVIEW
• TABLE 204 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 205 IBM: DEALS
• TABLE 206 ENTRUST CORPORATION: COMPANY OVERVIEW
• TABLE 207 ENTRUST CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 208 ENTRUST CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 209 ENTRUST CORPORATION: DEALS
• TABLE 210 ENTRUST CORPORATION: EXPANSIONS
• TABLE 211 ATOS SE: COMPANY OVERVIEW
• TABLE 212 ATOS SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 213 ATOS SE: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 214 ATOS SE: DEALS
• TABLE 215 STMICROELECTRONICS: COMPANY OVERVIEW
• TABLE 216 STMICROELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 217 STMICROELECTRONICS: DEALS
• TABLE 218 MICROCHIP TECHNOLOGY INC.: COMPANY OVERVIEW
• TABLE 219 MICROCHIP TECHNOLOGY INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 220 MICROCHIP TECHNOLOGY INC.: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 221 MICROCHIP TECHNOLOGY INC.: DEALS
• TABLE 222 MICROCHIP TECHNOLOGY INC.: OTHER DEVELOPMENTS
• TABLE 223 INFINEON TECHNOLOGIES AG: COMPANY OVERVIEW
• TABLE 224 INFINEON TECHNOLOGIES AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED
• TABLE 225 INFINEON TECHNOLOGIES AG: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 226 INFINEON TECHNOLOGIES AG: DEALS
• TABLE 227 YUBICO: COMPANY OVERVIEW
• TABLE 228 YUBICO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 229 YUBICO: PRODUCT LAUNCHES/DEVELOPMENTS
• TABLE 230 YUBICO: DEALS
• TABLE 231 DINAMO NETWORKS: COMPANY OVERVIEW
• TABLE 232 DINAMO NETWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
• TABLE 233 SECUROSYS: COMPANY OVERVIEW
• TABLE 234 SPYRUS: COMPANY OVERVIEW
• TABLE 235 ADWEB TECHNOLOGIES: COMPANY OVERVIEW
• TABLE 236 LATTICE SEMICONDUCTOR: COMPANY OVERVIEW
• TABLE 237 ELLIPTICSECURE: COMPANY OVERVIEW
• TABLE 238 AMAZON WEB SERVICES, INC.: COMPANY OVERVIEW
• TABLE 239 ETAS: COMPANY OVERVIEW
• TABLE 240 SANSEC: COMPANY OVERVIEW
• TABLE 241 FORTANIX: COMPANY OVERVIEW
• TABLE 242 JISA SOFTECH: COMPANY OVERVIEW
• TABLE 243 MICROSOFT: COMPANY OVERVIEW

List of Figures

• FIGURE 1 HARDWARE SECURITY MODULES MARKET SEGMENTATION AND REGIONAL SCOPE
• FIGURE 2 HARDWARE SECURITY MODULES MARKET: RESEARCH DESIGN
• FIGURE 3 HARDWARE SECURITY MODULES MARKET: BOTTOM-UP APPROACH
• FIGURE 4 HARDWARE SECURITY MODULES MARKET SIZE ESTIMATION METHODOLOGY
• FIGURE 5 HARDWARE SECURITY MODULES MARKET: TOP-DOWN APPROACH
• FIGURE 6 HARDWARE SECURITY MODULES MARKET: DATA TRIANGULATION
• FIGURE 7 HARDWARE SECURITY MODULES MARKET: RESEARCH ASSUMPTIONS
• FIGURE 8 HARDWARE SECURITY MODULES MARKET: RESEARCH LIMITATIONS
• FIGURE 9 LAN-BASED/NETWORK-ATTACHED SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030
• FIGURE 10 QUANTUM CRYPTOGRAPHY TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
• FIGURE 11 CLOUD-BASED SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
• FIGURE 12 BFSI SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2025
• FIGURE 13 PAYMENT PROCESSING SEGMENT TO DOMINATE MARKET IN 2030
• FIGURE 14 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN GLOBAL MARKET DURING FORECAST PERIOD
• FIGURE 15 GROWING ADOPTION OF HARDWARE SECURITY MODULES FOR PAYMENT PROCESSING AND PKI AND CREDENTIAL MANAGEMENT TO SURGE MARKET GROWTH DURING FORECAST PERIOD
• FIGURE 16 CLOUD-BASED SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
• FIGURE 17 BFSI SEGMENT TO LEAD MARKET IN 2030
• FIGURE 18 SECURE SOCKETS LAYER (SSL) AND TRANSPORT LAYER SECURITY (TLS) TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
• FIGURE 19 LAN-BASED/NETWORK-ATTACHED AND GENERAL-PURPOSE CRYPTOGRAPHY TO ACCOUNT FOR LARGEST MARKET SHARES IN 2025
• FIGURE 20 INDIA TO GROW AT HIGHEST CAGR IN GLOBAL MARKET DURING FORECAST PERIOD
• FIGURE 21 HARDWARE SECURITY MODULES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
• FIGURE 22 HARDWARE SECURITY MODULES MARKET: IMPACT ANALYSIS OF DRIVERS
• FIGURE 23 US AND GLOBAL DATA ON RECORDS BREACHED PER MONTH, 2023-2024
• FIGURE 24 HARDWARE SECURITY MODULES MARKET: IMPACT ANALYSIS OF RESTRAINTS
• FIGURE 25 HARDWARE SECURITY MODULES MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
• FIGURE 26 NUMBER OF HEALTHCARE DATA BREACHES, 2009-2024
• FIGURE 27 HARDWARE SECURITY MODULES MARKET: IMPACT ANALYSIS OF CHALLENGES
• FIGURE 28 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
• FIGURE 29 AVERAGE SELLING PRICE TREND OF HSMS, BY KEY PLAYER, 2024
• FIGURE 30 AVERAGE SELLING PRICE TREND OF LAN-BASED/NETWORK-ATTACHED H SMS, BY REGION, 2021-2024
• FIGURE 31 HARDWARE SECURITY MODULES MARKET: SUPPLY CHAIN ANALYSIS
• FIGURE 32 HARDWARE SECURITY MODULES MARKET: ECOSYSTEM ANALYSIS
• FIGURE 33 PATENTS APPLIED AND GRANTED, 2014-2024
• FIGURE 34 IMPORT DATA FOR HS CODE 8471-COMPLIANT PRODUCTS, BY COUNTRY, 2019-2023
• FIGURE 35 EXPORT DATA FOR HS CODE 8471-COMPLIANT PRODUCTS, BY COUNTRY, 2019-2023
• FIGURE 36 FUNDS AUTHORIZED BY HSM MANUFACTURERS, 2020-2024
• FIGURE 37 HARDWARE SECURITY MODULES MARKET: PORTER'S FIVE FORCES ANALYSIS
• FIGURE 38 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
• FIGURE 39 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
• FIGURE 40 USB-BASED/PORTABLE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
• FIGURE 41 GENERAL-PURPOSE CRYPTOGRAPHY SEGMENT TO DOMINATE MARKET IN 2025
• FIGURE 42 CLOUD-BASED SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
• FIGURE 43 SECURE SOCKETS LAYER (SSL) AND TRANSPORT LAYER SECURITY (TLS) SEGMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
• FIGURE 44 BFSI SEGMENT TO HOLD LARGEST MARKET SHARE IN 2030
• FIGURE 45 HARDWARE SECURITY MODULES MARKET, BY REGION
• FIGURE 46 NORTH AMERICA TO LEAD MARKET DURING FORECAST PERIOD
• FIGURE 47 NORTH AMERICA: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
• FIGURE 48 EUROPE: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
• FIGURE 49 ASIA PACIFIC: SNAPSHOT OF HARDWARE SECURITY MODULES MARKET
• FIGURE 50 HARDWARE SECURITY MODULES MARKET: REVENUE ANALYSIS OF TOP TWO PLAYERS, 2020-2023
• FIGURE 51 HARDWARE SECURITY MODULES MARKET SHARE ANALYSIS, 2024
• FIGURE 52 COMPANY VALUATION, 2024
• FIGURE 53 FINANCIAL METRICS, 2024 (EV/EBITDA)
• FIGURE 54 BRAND/PRODUCT COMPARISON
• FIGURE 55 HARDWARE SECURITY MODULES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024
• FIGURE 56 HARDWARE SECURITY MODULES MARKET: COMPANY EVALUATION MATRIX, HSM-AS-A-SERVICE, 2024
• FIGURE 57 HARDWARE SECURITY MODULES MARKET: COMPANY FOOTPRINT
• FIGURE 58 HARDWARE SECURITY MODULES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024
• FIGURE 59 THALES: COMPANY SNAPSHOT
• FIGURE 60 IBM: COMPANY SNAPSHOT
• FIGURE 61 ATOS SE: COMPANY SNAPSHOT
• FIGURE 62 STMICROELECTRONICS: COMPANY SNAPSHOT
• FIGURE 63 MICROCHIP TECHNOLOGY INC.: COMPANY SNAPSHOT
• FIGURE 64 INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT
• FIGURE 65 YUBICO: COMPANY SNAPSHOT

The hardware security modules market is expected to grow from USD 1.66 billion in 2025 to USD 3.28 billion by 2030 at a CAGR of 14.5% during the forecast period. The hardware security modules market is witnessing a strong growth trend because of the growing rate of data breaches, cyber attacks, and regulatory compliance requirements across sectors. As business organizations deal with huge volumes of sensitive information, secure encryption key management and cryptography operations have turned into a mission-critical priority. The unprecedented growth of electronic banking, monetary transactions, and identity management technologies is driving need for secure hardware-based security frameworks that provide integrity, authentication, and confidentiality to data.

"Secure Socket Layer (SSL) and Transport Layer Security (TLS) application to grow at high CAGR for the hardware security modules market during the forecast period."

The hardware security module market for SSL and TLS applications is expected to grow at the highest CAGR during the forecast period till 2030. The growth is driven by the rising demand for secure data transmission, encrypted web communications, and authentication in an growing digital landscape. Companies are prioritizing remote access, and web-based applications, protection of SSL/TLS certificates, private keys, and cryptographic processes as they move to cloud computing. The proliferation of encrypted communication channels has highlighted the importance of hardware-based security solutions such as HSMs. HSMs provide tamper-proof storage and management of cryptographic keys, which protects against cyber attacks like man-in-the-middle (MITM) attacks, phishing, and SSL/TLS certificate compromise. Further, the increasing adoption of IoT, 5G, and edge computing, in which encrypted communication is essential to protect data exchanges between connected things, networks, and applications, drives the market growth.

"General-purpose Cryptography to account the largest market share in the market during the forecast period."

The market for general-purpose cryptography is anticipated to have the highest market share as the demand for secure data protection is on the rise across various industries and strong key management solutions are required. With digital transformation speeding up and companies moving more operations to the cloud, there is an increased dependence on encryption to protect sensitive data. General-purpose cryptography covering encryption, decryption, key handling, and the creation of digital signatures is central to protecting exchanges of data in financial institutions, healthcare organizations, government departments, and businesses. Growing adoption of general-purpose cryptography in conjunction with next-generation technologies like blockchain, loT, and secure payments also drives growth in the segment. Since businesses such as finance and telecommunication are based on secure communication channels and payment transactions, general-purpose cryptographic HSMs are needed to facilitate smooth and secure operations.

"India to witness significant growth in the hardware security modules market during the forecast period."

Hardware security modules market in India is anticipated to register high CAGR, on account of strong digitalization, growing fintech industry, and rising use of cybersecurity solutions across sectors. India is among the world's fastest-growing economies, and has experienced a boom in online transactions, e-commerce, and cloud computing usage. This has led to a demand for strong encryption solutions such as HSMs to protect sensitive information. The programs of Indian governments, like "Digital India" and "Make in India," are promoting technology uptake in critical industries, including BFSI, healthcare, IT, and manufacturing, further stimulating demand for HSMs. These advancements are enhancing the demand for HSMs. Data protection laws in India are also helping the market grow. India's Digital Personal Data Protection Act (DPDP), 2023, is stressing the necessity of encryption and security measures to protect personal and financial information. Reserve Bank of India requires stringent cyber security compliance of banks and payments service providers with an incentive of deploying HSMs for authentic key management as well as the encryption of sensitive data. Secondly, the surge in blockchain-driven applications across areas such as logistics, agriculture, and finance also spurred the increase in HSM deployment for authenticating digital signatures and cryptographic securities.

The break-up of the profile of primary participants in the hardware security modules market-

• By Company Type: Tier 1 - 20%, Tier 2 - 20%, Tier 3 - 60%
• By Designation Type: C Level - 30%, Director Level - 20%, Others - 50%
• By Region Type: North America - 20%, Europe - 30%, Asia Pacific - 40%, Rest of the World - 10%

The major players in the hardware security modules market with a significant global presence include Thales (France), IBM (US), Utimaco Management Services GmbH (Germany), Futurex (US), Entrust Corporation (US), and others.

Research Coverage

The report segments the hardware security modules market and forecasts its size by type, technology, deployment type, application, vertical, and region. It also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report covers qualitative aspects in addition to quantitative aspects of the market.

Reasons to buy the report:

The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall hardware security modules market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (increasing data breaches and cyberattacks, need to comply with stringent data security regulations and standards, growing demand for effective management of cryptographic keys, transition to digital transactions and electronic payments, shift toward SDN and NFV in 5G deployments), restraints (high ownership costs associated with hardware security modules, susceptibility to cyberattacks and security breaches), opportunities (rising volume of data generated by websites and mobile apps, proliferation of connected devices and IoT technologies in smart cities, rise of telemedicine and remote healthcare services, increasing adoption of blockchain and cryptocurrencies, advancements in quantum computing), and challenges (discovering and protecting sensitive data, complexities associated with HSM integration process, rise of complex IT environments)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new solution and service launches in the hardware security modules market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the hardware security modules market across varied regions.
• Market Diversification: Exhaustive information about new solutions and services, untapped geographies, recent developments, and investments in the hardware security modules market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and solution and service offerings of leading players, including Thales (France), IBM (US), Utimaco Management Services GmbH (Germany), Futurex (US), and Entrust Corporation (US).

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 STUDY OBJECTIVES
• 1.2 MARKET DEFINITION
• 1.3 STUDY SCOPE
  • 1.3.1 MARKETS COVERED AND REGIONAL SCOPE
  • 1.3.2 INCLUSIONS AND EXCLUSIONS
  • 1.3.3 YEARS CONSIDERED
• 1.4 CURRENCY CONSIDERED
• 1.5 UNIT CONSIDERED
• 1.6 STAKEHOLDERS
• 1.7 LIMITATIONS
• 1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

• 2.1 RESEARCH DATA
  • 2.1.1 SECONDARY DATA
    • 2.1.1.1 List of key secondary sources
    • 2.1.1.2 Key data from secondary sources
  • 2.1.2 PRIMARY DATA
    • 2.1.2.1 List of primary interview participants
    • 2.1.2.2 Breakdown of primaries
    • 2.1.2.3 Key data from primary sources
    • 2.1.2.4 Key industry insights
  • 2.1.3 SECONDARY AND PRIMARY RESEARCH
• 2.2 MARKET SIZE ESTIMATION METHODOLOGY
  • 2.2.1 BOTTOM-UP APPROACH
    • 2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
  • 2.2.2 TOP-DOWN APPROACH
    • 2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
• 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
• 2.4 RESEARCH ASSUMPTIONS
• 2.5 RISK ANALYSIS
• 2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

• 4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN HARDWARE SECURITY MODULES MARKET
• 4.2 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE
• 4.3 HARDWARE SECURITY MODULES MARKET, BY VERTICAL
• 4.4 HARDWARE SECURITY MODULES MARKET, BY APPLICATION
• 4.5 HARDWARE SECURITY MODULES MARKET, BY TYPE AND TECHNOLOGY
• 4.6 HARDWARE SECURITY MODULES MARKET, BY COUNTRY

5 MARKET OVERVIEW

• 5.1 INTRODUCTION
• 5.2 MARKET DYNAMICS
  • 5.2.1 DRIVERS
    • 5.2.1.1 Increasing data breaches and cyberattacks
    • 5.2.1.2 Need to comply with stringent data security regulations and standards
    • 5.2.1.3 Growing demand for effective management of cryptographic keys
    • 5.2.1.4 Transition to digital transactions and electronic payments
    • 5.2.1.5 Shift toward SDN and NFV in 5G deployments
  • 5.2.2 RESTRAINTS
    • 5.2.2.1 High ownership costs associated with hardware security modules
    • 5.2.2.2 Susceptibility to cyberattacks and security breaches
  • 5.2.3 OPPORTUNITIES
    • 5.2.3.1 Rising volume of data generated by websites and mobile apps
    • 5.2.3.2 Proliferation of connected devices and IoT technologies in smart cities
    • 5.2.3.3 Rise of telemedicine and remote healthcare services
    • 5.2.3.4 Increasing adoption of blockchain and cryptocurrencies
    • 5.2.3.5 Advancements in quantum computing
  • 5.2.4 CHALLENGES
    • 5.2.4.1 Discovering and protecting sensitive data
    • 5.2.4.2 Complexities associated with HSM integration process
    • 5.2.4.3 Rise of complex IT environments
• 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
• 5.4 PRICING ANALYSIS
  • 5.4.1 AVERAGE SELLING PRICE TREND OF HSMS, BY KEY PLAYER
  • 5.4.2 AVERAGE SELLING PRICE TREND OF HSMS, BY TYPE
  • 5.4.3 AVERAGE SELLING PRICE TREND OF LAN-BASED/NETWORK-ATTACHED HSMS, BY REGION
• 5.5 SUPPLY CHAIN ANALYSIS
• 5.6 ECOSYSTEM ANALYSIS
• 5.7 TECHNOLOGY ANALYSIS
  • 5.7.1 KEY TECHNOLOGIES
    • 5.7.1.1 AI and ML
    • 5.7.1.2 Contactless smart cards
    • 5.7.1.3 Quantum safe hardware security modules
  • 5.7.2 COMPLEMENTARY TECHNOLOGIES
    • 5.7.2.1 PKI
  • 5.7.3 ADJACENT TECHNOLOGIES
    • 5.7.3.1 Blockchain and distributed ledger technologies
    • 5.7.3.2 Digital signatures
• 5.8 PATENT ANALYSIS
• 5.9 TRADE ANALYSIS
  • 5.9.1 IMPORT DATA (HS CODE 8471)
  • 5.9.2 EXPORT DATA (HS CODE 8471)
• 5.10 KEY CONFERENCES AND EVENTS, 2025-2026
• 5.11 CASE STUDY ANALYSIS
  • 5.11.1 EPX ACHIEVED FUTURE-PROOF PAYMENT PROCESSING INFRASTRUCTURE WITH FUTUREX'S EXCRYPT SERIES
  • 5.11.2 FORTANIX HELPED IT AND NETWORKING COMPANY WITH DSM SAAS THAT OFFERED ROBUST AND CONSISTENT SECURITY ACROSS GLOBAL OPERATIONS
  • 5.11.3 FUTUREX HELPED POMELO IMPLEMENT ROBUST CLOUD-BASED PAYMENT INFRASTRUCTURE
  • 5.11.4 STANCHION AND FUTUREX ASSISTED ISRAELI BANK WITH SECURED PAYMENT ENVIRONMENTS
  • 5.11.5 THALES LUNA HSMS HELPED BANGLADESH'S IDTP WITH ENHANCED SECURITY AND ALLOWED SECURE REAL-TIME MOVEMENT OF FUNDS
  • 5.11.6 THALES HELPED TREEZOR DEPLOY CLOUD HSM THAT PROVIDED EVERY CUSTOMER WITH EXCLUSIVE HSM SERVICE
• 5.12 INVESTMENT AND FUNDING SCENARIO
• 5.13 TARIFF AND REGULATORY LANDSCAPE
  • 5.13.1 TARIFF ANALYSIS
  • 5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.13.3 STANDARDS
• 5.14 PORTER'S FIVE FORCES ANALYSIS
  • 5.14.1 THREAT OF NEW ENTRANTS
  • 5.14.2 THREAT OF SUBSTITUTES
  • 5.14.3 BARGAINING POWER OF SUPPLIERS
  • 5.14.4 BARGAINING POWER OF BUYERS
  • 5.14.5 INTENSITY OF COMPETITIVE RIVALRY
• 5.15 KEY STAKEHOLDERS AND BUYING PROCESS
  • 5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
  • 5.15.2 BUYING CRITERIA
• 5.16 IMPACT OF AI ON HARDWARE SECURITY MODULES MARKET

6 HARDWARE SECURITY MODULES MARKET, BY TYPE

• 6.1 INTRODUCTION
• 6.2 LAN-BASED/NETWORK-ATTACHED
  • 6.2.1 ABILITY TO PROVIDE HIGH SCALABILITY AND REMOTE ACCESS TO FUEL MARKET GROWTH
• 6.3 PCI-BASED/EMBEDDED PLUGINS
  • 6.3.1 INCREASING DEMAND FOR LOW-LATENCY CRYPTOGRAPHIC PROCESSING AND HIGH-THROUGHPUT TO SUPPORT MARKET GROWTH
• 6.4 USB-BASED/PORTABLE 109 6.4.1 RISING DEMAND FOR SECURE AND PORTABLE CRYPTOGRAPHIC SOLUTIONS TO BENEFIT MARKET
• 6.5 SMART CARDS
  • 6.5.1 GROWING DEMAND FOR SECURE BIOMETRIC AUTHENTICATION TO DRIVE MARKET

7 HARDWARE SECURITY MODULES MARKET, BY TECHNOLOGY

• 7.1 INTRODUCTION
• 7.2 GENERAL-PURPOSE CRYPTOGRAPHY
  • 7.2.1 SURGING ADOPTION OF DIGITAL SERVICES AND GROWING NEED FOR DATA PROTECTION TO FOSTER MARKET GROWTH
• 7.3 QUANTUM CRYPTOGRAPHY
  • 7.3.1 RISING THREATS FROM QUANTUM COMPUTING TO DRIVE MARKET

8 HARDWARE SECURITY MODULES MARKET, BY DEPLOYMENT TYPE

• 8.1 INTRODUCTION
• 8.2 ON-PREMISES
  • 8.2.1 ABILITY TO CONTROL CRYPTOGRAPHIC KEYS AND DATA TO BOOST DEMAND
• 8.3 CLOUD-BASED
  • 8.3.1 EXPANDING SECURITY DIGITAL PAYMENT ECOSYSTEMS AND E-COMMERCE PLATFORMS TO FUEL MARKET GROWTH

9 HARDWARE SECURITY MODULES MARKET, BY APPLICATION

• 9.1 INTRODUCTION
• 9.2 PAYMENT PROCESSING
  • 9.2.1 GLOBAL SHIFT TOWARD CASHLESS ECONOMY TO FUEL MARKET GROWTH
• 9.3 CODE AND DOCUMENT SIGNING
  • 9.3.1 RISING MALWARE AND SUPPLY CHAIN ATTACKS TO BOOST DEMAND
• 9.4 SECURITY SOCKETS LAYER (SSL) AND TRANSPORT LAYER SECURITY (TLS)
  • 9.4.1 GROWING APPLICATION FOR PROTECTING CONFIDENTIAL DATA FOR WEB-BASED RETAIL TO BOOST DEMAND
• 9.5 AUTHENTICATION
  • 9.5.1 INCREASING DEMAND FOR SECURE USER AND DEVICE AUTHENTICATION TO SUPPORT MARKET GROWTH
• 9.6 DATABASE ENCRYPTION
  • 9.6.1 EXPANSION OF BIG DATA ANALYTICS TO DRIVE MARKET
• 9.7 PUBLIC KEY INFRASTRUCTURE (PKI) AND CREDENTIAL MANAGEMENT
  • 9.7.1 INCREASING DEMAND FOR TAMPER-RESISTANT ENVIRONMENT FOR GENERATING, STORING, AND MANAGING CRYPTOGRAPHIC KEYS TO FOSTER MARKET GROWTH
• 9.8 APPLICATION-LEVEL ENCRYPTION
  • 9.8.1 GROWING ADOPTION OF CLOUD COMPUTING, HYBRID IT ARCHITECTURES, AND DISTRIBUTED SYSTEMS TO DRIVE MARKET

10 HARDWARE SECURITY MODULES MARKET, BY VERTICAL

• 10.1 INTRODUCTION
• 10.2 BFSI
  • 10.2.1 SURGING ADOPTION OF ADVANCED PAYMENT METHODS TO BOOST DEMAND
• 10.3 IT & TELECOMMUNICATIONS
  • 10.3.1 RISING NEED TO SAFEGUARD NETWORK FUNCTION VIRTUALIZATION INFRASTRUCTURE TO FOSTER MARKET GROWTH
• 10.4 PUBLIC SECTOR/GOVERNMENT
  • 10.4.1 RISING SHIFT TOWARD E-GOVERNANCE TO FUEL MARKET GROWTH
• 10.5 INDUSTRIAL MANUFACTURING
  • 10.5.1 GROWING NEED TO PREVENT UNAUTHORIZED ACCESS TO DIGITAL TWIN DATA TO DRIVE MARKET
• 10.6 ENERGY & POWER
  • 10.6.1 SURGING PENETRATION OF RENEWABLE ENERGY AND DISTRIBUTED ENERGY RESOURCES IN MODERN ELECTRIC GRIDS TO FUEL MARKET GROWTH
• 10.7 CONSUMER GOODS & RETAIL
  • 10.7.1 INCREASING ADOPTION OF ONLINE PLATFORMS, CLOUD-BASED POINT-OF-SALE SYSTEMS, AND ADVANCED RETAIL TECHNOLOGIES TO DRIVE MARKET
• 10.8 MEDICAL & LIFE SCIENCES
  • 10.8.1 SURGING ADOPTION OF ELECTRONIC HEALTH RECORDS, TELEMEDICINE, AND IOT-ENABLED MEDICAL DEVICES TO FOSTER MARKET GROWTH
• 10.9 AEROSPACE & DEFENSE
  • 10.9.1 GROWING RELIANCE ON SECURED COMMUNICATIONS AND ENCRYPTED DATA TRANSMISSIONS TO SUPPORT MARKET GROWTH
• 10.10 TRANSPORTATION
  • 10.10.1 INCREASING SHIFT TOWARD CONNECTED SYSTEMS, AUTONOMOUS VEHICLES, AND SMART INFRASTRUCTURE TO FOSTER MARKET GROWTH

11 HARDWARE SECURITY MODULES MARKET, BY REGION

• 11.1 INTRODUCTION
• 11.2 NORTH AMERICA
  • 11.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
  • 11.2.2 US
    • 11.2.2.1 Rising cybersecurity threats to foster market growth
  • 11.2.3 CANADA
    • 11.2.3.1 Increasing emphasis on developing and installing new network systems to accelerate demand
  • 11.2.4 MEXICO
    • 11.2.4.1 Thriving manufacturing hub for automotive, mining, and electronics industries to fuel market growth
• 11.3 EUROPE
  • 11.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
  • 11.3.2 GERMANY
    • 11.3.2.1 Rising deployment of security solutions to protect production control and data exchanges to accelerate demand
  • 11.3.3 UK
    • 11.3.3.1 Growing need for tamper-proof encryption key management and cryptographic processing to support market growth
  • 11.3.4 FRANCE
    • 11.3.4.1 Increasing reliance on cloud-based solutions to drive market
  • 11.3.5 ITALY
    • 11.3.5.1 Government-led initiatives to improve cyber resilience to boost demand
  • 11.3.6 REST OF EUROPE
• 11.4 ASIA PACIFIC
  • 11.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
  • 11.4.2 CHINA
    • 11.4.2.1 Presence of stringent cybersecurity regulations to spur market growth
  • 11.4.3 JAPAN
    • 11.4.3.1 Increasing influx of FDIs to foster market growth
  • 11.4.4 INDIA
    • 11.4.4.1 Rising adoption of blockchain in BFSI, healthcare, and IT sectors to fuel market growth
  • 11.4.5 SOUTH KOREA
    • 11.4.5.1 Widespread adoption of 5G networks and high internet penetration to drive market
  • 11.4.6 AUSTRALIA
    • 11.4.6.1 Growing need to comply with cybersecurity standards and protect sensitive information to fuel market growth
  • 11.4.7 REST OF ASIA PACIFIC
• 11.5 ROW
  • 11.5.1 MACROECONOMIC OUTLOOK FOR ROW
  • 11.5.2 SOUTH AMERICA
    • 11.5.2.1 Expanding e-commerce market to offer lucrative growth opportunities
  • 11.5.3 MIDDLE EAST & AFRICA
    • 11.5.3.1 GCC
      • 11.5.3.1.1 Rising cyberattacks in banking, government, and energy sectors to boost demand
    • 11.5.3.2 Rest of Middle East & Africa

12 COMPETITIVE LANDSCAPE

• 12.1 INTRODUCTION
• 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020-2024
• 12.3 REVENUE ANALYSIS, 2020-2023
• 12.4 MARKET SHARE ANALYSIS, 2024
• 12.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024
• 12.6 BRAND/PRODUCT COMPARISON
• 12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
  • 12.7.1 STARS
  • 12.7.2 EMERGING LEADERS
  • 12.7.3 PERVASIVE PLAYERS
  • 12.7.4 PARTICIPANTS
  • 12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
    • 12.7.5.1 Company footprint
    • 12.7.5.2 Region footprint
    • 12.7.5.3 Type footprint
    • 12.7.5.4 Technology footprint
    • 12.7.5.5 Deployment type footprint
    • 12.7.5.6 Application footprint
    • 12.7.5.7 Vertical footprint
• 12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
  • 12.8.1 PROGRESSIVE COMPANIES
  • 12.8.2 RESPONSIVE COMPANIES
  • 12.8.3 DYNAMIC COMPANIES
  • 12.8.4 STARTING BLOCKS
  • 12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
    • 12.8.5.1 Detailed list of key startups/SMEs
  • 12.8.6 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
• 12.9 COMPETITIVE SCENARIO
  • 12.9.1 PRODUCT LAUNCHES/DEVELOPMENTS
  • 12.9.2 DEALS
  • 12.9.3 EXPANSIONS
  • 12.9.4 OTHER DEVELOPMENTS

13 COMPANY PROFILES

• 13.1 KEY PLAYERS
  • 13.1.1 THALES
    • 13.1.1.1 Business overview
    • 13.1.1.2 Products/Solutions/Services offered
    • 13.1.1.3 Recent developments
      • 13.1.1.3.1 Product launches/Developments
      • 13.1.1.3.2 Deals
    • 13.1.1.4 MnM view
      • 13.1.1.4.1 Key strengths/Right to win
      • 13.1.1.4.2 Strategic choices
      • 13.1.1.4.3 Weaknesses/Competitive threats
  • 13.1.2 UTIMACO MANAGEMENT SERVICES GMBH
    • 13.1.2.1 Business overview
    • 13.1.2.2 Products/Solutions/Services offered
    • 13.1.2.3 Recent developments
      • 13.1.2.3.1 Product launches/Developments
      • 13.1.2.3.2 Deals
      • 13.1.2.3.3 Expansions
    • 13.1.2.4 MnM view
      • 13.1.2.4.1 Key strengths/Right to win
      • 13.1.2.4.2 Strategic choices
      • 13.1.2.4.3 Weaknesses/Competitive threats
  • 13.1.3 FUTUREX
    • 13.1.3.1 Business overview
    • 13.1.3.2 Products/Solutions/Services offered
    • 13.1.3.3 Recent developments
      • 13.1.3.3.1 Product launches/Developments
      • 13.1.3.3.2 Deals
    • 13.1.3.4 MnM view
      • 13.1.3.4.1 Key strengths/Right to win
      • 13.1.3.4.2 Strategic choices
      • 13.1.3.4.3 Weaknesses/Competitive threats
  • 13.1.4 IBM
    • 13.1.4.1 Business overview
    • 13.1.4.2 Products/Solutions/Services offered
    • 13.1.4.3 Recent developments
      • 13.1.4.3.1 Deals
    • 13.1.4.4 MnM view
      • 13.1.4.4.1 Key strengths/Right to win
      • 13.1.4.4.2 Strategic choices
      • 13.1.4.4.3 Weaknesses/Competitive threats
  • 13.1.5 ENTRUST CORPORATION
    • 13.1.5.1 Business overview
    • 13.1.5.2 Products/Solutions/Services offered
    • 13.1.5.3 Recent developments
      • 13.1.5.3.1 Product launches/Developments
      • 13.1.5.3.2 Deals
      • 13.1.5.3.3 Expansions
    • 13.1.5.4 MnM view
      • 13.1.5.4.1 Key strengths/Right to win
      • 13.1.5.4.2 Strategic choices
      • 13.1.5.4.3 Weaknesses/Competitive threats
  • 13.1.6 ATOS SE
    • 13.1.6.1 Business overview
    • 13.1.6.2 Products/Solutions/Services offered
    • 13.1.6.3 Recent developments
      • 13.1.6.3.1 Product launches/Developments
      • 13.1.6.3.2 Deals
  • 13.1.7 STMICROELECTRONICS
    • 13.1.7.1 Business overview
    • 13.1.7.2 Products/Solutions/Services offered
    • 13.1.7.3 Recent developments
      • 13.1.7.3.1 Deals
  • 13.1.8 MICROCHIP TECHNOLOGY INC.
    • 13.1.8.1 Business overview
    • 13.1.8.2 Products/Solutions/Services offered
    • 13.1.8.3 Recent developments
      • 13.1.8.3.1 Product launches/Developments
      • 13.1.8.3.2 Deals
      • 13.1.8.3.3 Other developments
  • 13.1.9 INFINEON TECHNOLOGIES AG
    • 13.1.9.1 Business overview
    • 13.1.9.2 Products/Solutions/Services offered
    • 13.1.9.3 Recent developments
      • 13.1.9.3.1 Product launches/Developments
      • 13.1.9.3.2 Deals
  • 13.1.10 YUBICO
    • 13.1.10.1 Business overview
    • 13.1.10.2 Products/Solutions/Services offered
    • 13.1.10.3 Recent developments
      • 13.1.10.3.1 Product launches/Developments
      • 13.1.10.3.2 Deals
  • 13.1.11 DINAMO NETWORKS
    • 13.1.11.1 Business overview
    • 13.1.11.2 Products/Solutions/Services offered
• 13.2 OTHER PLAYERS
  • 13.2.1 SECUROSYS
  • 13.2.2 SPYRUS
  • 13.2.3 ADWEB TECHNOLOGIES
  • 13.2.4 LATTICE SEMICONDUCTOR
  • 13.2.5 ELLIPTICSECURE
  • 13.2.6 AMAZON WEB SERVICES, INC.
  • 13.2.7 ETAS
  • 13.2.8 SANSEC
  • 13.2.9 FORTANIX
  • 13.2.10 JISA SOFTECH PVT. LTD.
  • 13.2.11 MICROSOFT
  • 13.2.12 NITROKEY
  • 13.2.13 KRYPTOAGILE SOLUTIONS PVT. LTD.
  • 13.2.14 KRYPTUS
  • 13.2.15 CRYPTO4A

14 APPENDIX

• 14.1 INSIGHTS FROM INDUSTRY EXPERTS
• 14.2 DISCUSSION GUIDE
• 14.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
• 14.4 CUSTOMIZATION OPTIONS
• 14.5 RELATED REPORTS
• 14.6 AUTHOR DETAILS