The hardware security module market is expected to grow from US$ 1.36 billion in 2022 to US$ 3.85 billion by 2030; it is estimated to record a CAGR of 13.9% from 2022 to 2030.
Healthcare institutions are undergoing a significant digital transformation involving a mounting reliance on technology to deliver patient care and critical services. The rising digitalization in the healthcare industry offers access to medical information and services from anytime, anywhere, and ensures timely and efficient patient care. Digitalization has resulted in the introduction of several tools and methods for enhancing healthcare services. These tools help to keep the record of patients' information and health-related data accessible to doctors as well as patients. However, due to growing digitalization in healthcare systems, the industry has become prone to various kinds of cyberattacks and threats. For instance, according to Check Point Software Technologies Ltd's Check Point Research (CPR), healthcare institutions experienced 1,426 weekly attacks in 2022, an increase of over 60% compared to 2021. Thus, the rising threats of cyberattacks due to growing digitalization in the healthcare industry can generate the demand for enhanced security solutions such as hardware security modules. The hardware security modules can protect healthcare institutions from attacks such as distributed denial of service (DDoS), ransomware, phishing, and malware. Thus, the growing digitalization in the healthcare system creates lucrative opportunities for the hardware security module market growth.
China is witnessing an increase in cyberattacks. For instance, in April 2023, StormWall s.r.o-the leading cybersecurity provider-published a report on the state of attacks for Q1 2023. The report was based on the analysis of attacks on StormWall s.r.o's client across various industries, revealing a significant increase of 47% in DDoS attacks compared to Q1 2022. China, with an 11.7% attack share, remains the most targeted country. Additionally, in August 2023, cybercriminals allegedly sold a stolen dataset from China's Government. The complete data set supposedly included personal identification information for about half a billion Chinese citizens and classified documents according to the criminals' posts about the sale. Also, in July 2023, China claimed that US cybercriminals hacked an earthquake monitoring station in Wuhan. As per the Public Security Bureau, this Trojan horse program has the capacity to illegally control and steal seismic data, which the front-end stations collect. Hence, such attacks are expected to fuel the hardware security module market growth during the forecast period.
Thales, STMicroelectronics, Utimaco Management GmbH, Atos SE, IBM Corporation, Futurex, SWIFT, Ultra Electronics Holdings plc, Infineon Technologies AG, and Hewlett Packard Enterprise Development LP are among the key players profiled in this hardware security module market report. Several other essential players were also analyzed for a holistic view of the market and its ecosystem. The hardware security module market report provides detailed insights to help major players strategize their growth.
The overall hardware security module market size has been derived using both primary and secondary sources. To begin the market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the hardware security module market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Hardware Security Module Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
 4.3.1 List of Vendors in the Value Chain
5. Hardware Security Module Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Hardware Security Module Market - Global Market Analysis
6.1 Hardware Security Module - Global Market Overview
6.2 Hardware Security Module - Global Market and Forecast to 2030
7. Hardware Security Module Market - Revenue Analysis (USD Million) - By Type, 2020-2030
7.1 Overview
7.2 LAN Based
7.3 PCIe Based
7.4 USB Based
8. Hardware Security Module Market - Revenue Analysis (USD Million) - By Application, 2020-2030
8.1 Overview
8.2 Payment Processing
8.3 Secure Socket Layer
8.4 Authentication
8.5 Code and Document Signing
8.6 Database Encryption
8.7 Credential Management
8.8 Application-Level Encryption
9. Hardware Security Module Market - Revenue Analysis (USD Million) - By Industry, 2020-2030
9.1 Overview
9.2 BFSI
9.3 Government
9.4 IT and Telecom
9.5 Healthcare
9.6 Manufacturing
9.7 Retail and Consumer Goods
9.8 Others
10. Hardware Security Module Market - Revenue Analysis (USD Million), 2020-2030 - Geographical Analysis
10.1 North America
 10.1.1 North America Hardware Security Module Market Overview
 10.1.2 North America Hardware Security Module Market Revenue and Forecasts to 2030
 10.1.3 North America Hardware Security Module Market Revenue and Forecasts and Analysis - By Type
 10.1.4 North America Hardware Security Module Market Revenue and Forecasts and Analysis - By Application
 10.1.5 North America Hardware Security Module Market Revenue and Forecasts and Analysis - By Industry
 10.1.6 North America Hardware Security Module Market Revenue and Forecasts and Analysis - By Countries
 10.1.6.1 United States Hardware Security Module Market
 10.1.6.1.1 United States Hardware Security Module Market, by Type
 10.1.6.1.2 United States Hardware Security Module Market, by Application
 10.1.6.1.3 United States Hardware Security Module Market, by Industry
 10.1.6.2 Canada Hardware Security Module Market
 10.1.6.2.1 Canada Hardware Security Module Market, by Type
 10.1.6.2.2 Canada Hardware Security Module Market, by Application
 10.1.6.2.3 Canada Hardware Security Module Market, by Industry
 10.1.6.3 Mexico Hardware Security Module Market
 10.1.6.3.1 Mexico Hardware Security Module Market, by Type
 10.1.6.3.2 Mexico Hardware Security Module Market, by Application
 10.1.6.3.3 Mexico Hardware Security Module Market, by Industry
 Note - Similar analysis would be provided for below mentioned regions/countries
 
10.2 Europe
 10.2.1 Germany
 10.2.2 France
 10.2.3 Italy
 10.2.4 United Kingdom
 10.2.5 Russia
 10.2.6 Rest of Europe
10.3 Asia-Pacific
 10.3.1 Australia
 10.3.2 China
 10.3.3 India
 10.3.4 Japan
 10.3.5 South Korea
 10.3.6 Pakistan
 10.3.7 Rest of SouthEast Asia
10.4 Middle East and Africa
 10.4.1 Saudi Arabia
 10.4.2 U.A.E
 10.4.3 Bahrain
 10.4.4 Nigeria.
 10.4.5 Egypt..
 10.4.6 Morocco..
10.5 South and Central America
 10.5.1 Brazil
 10.5.2 Argentina
 10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Hardware Security Module Market - Key Company Profiles
13.1 Thales
 13.1.1 Key Facts
 13.1.2 Business Description
 13.1.3 Products and Services
 13.1.4 Financial Overview
 13.1.5 SWOT Analysis
 13.1.6 Key Developments
 Note - Similar information would be provided for below list of companies
 
13.2 STMicroelectronics
13.3 Utimaco Management GmbH
13.4 Atos SE
13.5 IBM Corporation
13.6 Futurex
13.7 SWIFT
13.8 Ultra Electronics Holding PLC
13.9 Infineon Technologies AG
13.10 Hewlett Packard Enterprise Development LP
14. Appendix
14.1 Glossary
14.2 About
14.3 Market Intelligence Cloud
LIST OF TABLES
LIST OF FIGURES
The List of Companies - Hardware Security Module Market
Thales
STMicroelectronics
Utimaco Management GmbH
Atos SE
IBM Corporation
Futurex
SWIFT
Ultra Electronics Holdings plc
Infineon Technologies AG
Hewlett Packard Enterprise Development LP