Hardware Security Module Market Estimated to become worth US$40.43 Bn by 2025

The future of the worldwide market for hardware security module is sound, with the demand predicted to increment at a healthy 11.6% CAGR over the forecast period from 2017 to 2025. At the forefront of driving the hardware security module (HSM) market is the increasing security concerns among data-sensitive companies across the world.

To address this, enterprises are investing in cyber-security infrastructure, which in turn will drive the demand for hardware security module. Several governments are participating by laying stringent regulatory standards for vendors to adhere to the requisite cryptographic module.

On the other hand, the high cost of implementation of HSM continues to be the most glaring challenge for the growth of this market. Considering all the dynamics, the global hardware security module market is estimated to be worth US$40.43 bn by the end of 2025.

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Automobile and Transportation to Emerge as Profitable Industry Vertical Segment

On the basis of type, the global hardware security module has been segmented into local interface, remote interface, USB token, and smart cards in this report. In 2015, remote interface HSM segment displayed the leading demand holding the leading revenue in the overall market. The segment was followed by local interface HSM type in terms of revenue share. Going forward, smart cards and USB tokens are anticipated to display robust growth on the back of the embedded features that these HSMs possess.

Application-wise, the global hardware security module market has been bifurcated into authentication, database encryption, document signing, secure socket layer, code signing, PKI/credential management, payment processing, and application level encryption.

At present, authentication and secure socket layer are posing more demand than other application segments; however, payment processing application segment is expected to gain significantly followed by credential and PKI management.

Based on industry vertical, the market has been categorized into BFSI, government, technology and communication, industrial and manufacturing, energy and utility, retail and consumer products, healthcare and life sciences, and others. The other segment includes automobile, hospitality, and transportation.

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Asia Pacific to Clock Robust CAGR through 2025

Region-wise, this report takes stock of the potential of hardware security module market in the regions of North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Among these, North America hardware security module market is currently most profitable to serve a demand worth US$7.91 bn in 2017, and expanding at a CAGR of 11.0% for the forecast period of 2017 to 2025.

On the other hand, powered by Japan, the demand in Asia Pacific hardware security module market will increase from 0.98bn in 2017 to 2.88 bn by 2025 at 14.4% CAGR for the period. While countries such as Australia have displayed relatively slow deployment of HSM, the growing need to protect the cryptographic key from malicious attacks will generally increase the pace of deployment of HSM in the region over the forecast period.

Ultimaco GmbH, Thales e-Security Inc., Futurex, Gemalto NV, IBM Corporation, Hewlett Packard Enterprise Development L.P., Yubico, Ultra Electronics, and SWIFT are the leading companies operating in the global HSM market.

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