The global Hardware Security Modules (HSM) market size is predicted to grow from US$ 1715 million in 2025 to US$ 3680 million in 2031; it is expected to grow at a CAGR of 13.6% from 2025 to 2031.
A hardware security module (HSM) is a physical computing device that safeguards and manages digital keys for strong authentication and provides crypto processing. These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or network server. Hardware Security Modules (HSM) are devices specifically built to create a tamper-resistant environment in which to perform cryptographic processes (e.g. encryption or digital signing) and to manage keys associated with those processes. HSMs often provide cryptographic acceleration that is measured in terms of operations. These devices are used to protect critical data processing activities associated with server based applications and can be used to strongly enforce security policies and access controls. These modules are physical devices that traditionally come in the form of a plug-in card or an external network connected appliance and are often validated against security standards such as FIPS.
Global key players of hardware security modules (HSM) include Thales, Entrust Corp, Utimaco, ATOS SE, Marvell Technology Group, etc. The top five players hold a share about 45%. North America is the largest market, has a share about 38%, followed by Europe and Asia-Pacific, with share 33% and 25%, separately.
The 鈥淗ardware Security Modules (HSM) Industry Forecast鈥 looks at past sales and reviews total world Hardware Security Modules (HSM) sales in 2024, providing a comprehensive analysis by region and market sector of projected Hardware Security Modules (HSM) sales for 2025 through 2031. With Hardware Security Modules (HSM) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Hardware Security Modules (HSM) industry.
This Insight Report provides a comprehensive analysis of the global Hardware Security Modules (HSM) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Hardware Security Modules (HSM) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥 unique position in an accelerating global Hardware Security Modules (HSM) market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Hardware Security Modules (HSM) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Hardware Security Modules (HSM).
This report presents a comprehensive overview, market shares, and growth opportunities of Hardware Security Modules (HSM) market by product type, application, key players and key regions and countries.
Segmentation by Type:
General Purpose HSMs
Payment HSMs
HSMaaS
Segmentation by Application:
BFSI
Industrial and Manufacturing
Government
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Thales
Entrust Corp
Utimaco
ATOS SE
Marvell Technology Group
Westone Information Industry
Ultra Electronics
Sansec Technology
Synopsys, Inc
Futurex
Keyou
Beijing Dean Information Technology
Fortanix
Securosys
Yubico
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 麻豆原创 Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 麻豆原创 Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 麻豆原创 Estimation Caveats
2 Executive Summary
2.1 World 麻豆原创 Overview
2.1.1 Global Hardware Security Modules (HSM) 麻豆原创 Size (2020-2031)
2.1.2 Hardware Security Modules (HSM) 麻豆原创 Size CAGR by Region (2020 VS 2024 VS 2031)
2.1.3 World Current & Future Analysis for Hardware Security Modules (HSM) by Country/Region (2020, 2024 & 2031)
2.2 Hardware Security Modules (HSM) Segment by Type
2.2.1 General Purpose HSMs
2.2.2 Payment HSMs
2.2.3 HSMaaS
2.3 Hardware Security Modules (HSM) 麻豆原创 Size by Type
2.3.1 Hardware Security Modules (HSM) 麻豆原创 Size CAGR by Type (2020 VS 2024 VS 2031)
2.3.2 Global Hardware Security Modules (HSM) 麻豆原创 Size 麻豆原创 Share by Type (2020-2025)
2.4 Hardware Security Modules (HSM) Segment by Application
2.4.1 BFSI
2.4.2 Industrial and Manufacturing
2.4.3 Government
2.4.4 Others
2.5 Hardware Security Modules (HSM) 麻豆原创 Size by Application
2.5.1 Hardware Security Modules (HSM) 麻豆原创 Size CAGR by Application (2020 VS 2024 VS 2031)
2.5.2 Global Hardware Security Modules (HSM) 麻豆原创 Size 麻豆原创 Share by Application (2020-2025)
3 Hardware Security Modules (HSM) 麻豆原创 Size by Player
3.1 Hardware Security Modules (HSM) 麻豆原创 Size 麻豆原创 Share by Player
3.1.1 Global Hardware Security Modules (HSM) Revenue by Player (2020-2025)
3.1.2 Global Hardware Security Modules (HSM) Revenue 麻豆原创 Share by Player (2020-2025)
3.2 Global Hardware Security Modules (HSM) Key Players Head office and Products Offered
3.3 麻豆原创 Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Hardware Security Modules (HSM) by Region
4.1 Hardware Security Modules (HSM) 麻豆原创 Size by Region (2020-2025)
4.2 Global Hardware Security Modules (HSM) Annual Revenue by Country/Region (2020-2025)
4.3 Americas Hardware Security Modules (HSM) 麻豆原创 Size Growth (2020-2025)
4.4 APAC Hardware Security Modules (HSM) 麻豆原创 Size Growth (2020-2025)
4.5 Europe Hardware Security Modules (HSM) 麻豆原创 Size Growth (2020-2025)
4.6 Middle East & Africa Hardware Security Modules (HSM) 麻豆原创 Size Growth (2020-2025)
5 Americas
5.1 Americas Hardware Security Modules (HSM) 麻豆原创 Size by Country (2020-2025)
5.2 Americas Hardware Security Modules (HSM) 麻豆原创 Size by Type (2020-2025)
5.3 Americas Hardware Security Modules (HSM) 麻豆原创 Size by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Hardware Security Modules (HSM) 麻豆原创 Size by Region (2020-2025)
6.2 APAC Hardware Security Modules (HSM) 麻豆原创 Size by Type (2020-2025)
6.3 APAC Hardware Security Modules (HSM) 麻豆原创 Size by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Hardware Security Modules (HSM) 麻豆原创 Size by Country (2020-2025)
7.2 Europe Hardware Security Modules (HSM) 麻豆原创 Size by Type (2020-2025)
7.3 Europe Hardware Security Modules (HSM) 麻豆原创 Size by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Hardware Security Modules (HSM) by Region (2020-2025)
8.2 Middle East & Africa Hardware Security Modules (HSM) 麻豆原创 Size by Type (2020-2025)
8.3 Middle East & Africa Hardware Security Modules (HSM) 麻豆原创 Size by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 麻豆原创 Drivers, Challenges and Trends
9.1 麻豆原创 Drivers & Growth Opportunities
9.2 麻豆原创 Challenges & Risks
9.3 Industry Trends
10 Global Hardware Security Modules (HSM) 麻豆原创 Forecast
10.1 Global Hardware Security Modules (HSM) Forecast by Region (2026-2031)
10.1.1 Global Hardware Security Modules (HSM) Forecast by Region (2026-2031)
10.1.2 Americas Hardware Security Modules (HSM) Forecast
10.1.3 APAC Hardware Security Modules (HSM) Forecast
10.1.4 Europe Hardware Security Modules (HSM) Forecast
10.1.5 Middle East & Africa Hardware Security Modules (HSM) Forecast
10.2 Americas Hardware Security Modules (HSM) Forecast by Country (2026-2031)
10.2.1 United States 麻豆原创 Hardware Security Modules (HSM) Forecast
10.2.2 Canada 麻豆原创 Hardware Security Modules (HSM) Forecast
10.2.3 Mexico 麻豆原创 Hardware Security Modules (HSM) Forecast
10.2.4 Brazil 麻豆原创 Hardware Security Modules (HSM) Forecast
10.3 APAC Hardware Security Modules (HSM) Forecast by Region (2026-2031)
10.3.1 China Hardware Security Modules (HSM) 麻豆原创 Forecast
10.3.2 Japan 麻豆原创 Hardware Security Modules (HSM) Forecast
10.3.3 Korea 麻豆原创 Hardware Security Modules (HSM) Forecast
10.3.4 Southeast Asia 麻豆原创 Hardware Security Modules (HSM) Forecast
10.3.5 India 麻豆原创 Hardware Security Modules (HSM) Forecast
10.3.6 Australia 麻豆原创 Hardware Security Modules (HSM) Forecast
10.4 Europe Hardware Security Modules (HSM) Forecast by Country (2026-2031)
10.4.1 Germany 麻豆原创 Hardware Security Modules (HSM) Forecast
10.4.2 France 麻豆原创 Hardware Security Modules (HSM) Forecast
10.4.3 UK 麻豆原创 Hardware Security Modules (HSM) Forecast
10.4.4 Italy 麻豆原创 Hardware Security Modules (HSM) Forecast
10.4.5 Russia 麻豆原创 Hardware Security Modules (HSM) Forecast
10.5 Middle East & Africa Hardware Security Modules (HSM) Forecast by Region (2026-2031)
10.5.1 Egypt 麻豆原创 Hardware Security Modules (HSM) Forecast
10.5.2 South Africa 麻豆原创 Hardware Security Modules (HSM) Forecast
10.5.3 Israel 麻豆原创 Hardware Security Modules (HSM) Forecast
10.5.4 Turkey 麻豆原创 Hardware Security Modules (HSM) Forecast
10.6 Global Hardware Security Modules (HSM) Forecast by Type (2026-2031)
10.7 Global Hardware Security Modules (HSM) Forecast by Application (2026-2031)
10.7.1 GCC Countries 麻豆原创 Hardware Security Modules (HSM) Forecast
11 Key Players Analysis
11.1 Thales
11.1.1 Thales Company Information
11.1.2 Thales Hardware Security Modules (HSM) Product Offered
11.1.3 Thales Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.1.4 Thales Main Business Overview
11.1.5 Thales Latest Developments
11.2 Entrust Corp
11.2.1 Entrust Corp Company Information
11.2.2 Entrust Corp Hardware Security Modules (HSM) Product Offered
11.2.3 Entrust Corp Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.2.4 Entrust Corp Main Business Overview
11.2.5 Entrust Corp Latest Developments
11.3 Utimaco
11.3.1 Utimaco Company Information
11.3.2 Utimaco Hardware Security Modules (HSM) Product Offered
11.3.3 Utimaco Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.3.4 Utimaco Main Business Overview
11.3.5 Utimaco Latest Developments
11.4 ATOS SE
11.4.1 ATOS SE Company Information
11.4.2 ATOS SE Hardware Security Modules (HSM) Product Offered
11.4.3 ATOS SE Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.4.4 ATOS SE Main Business Overview
11.4.5 ATOS SE Latest Developments
11.5 Marvell Technology Group
11.5.1 Marvell Technology Group Company Information
11.5.2 Marvell Technology Group Hardware Security Modules (HSM) Product Offered
11.5.3 Marvell Technology Group Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.5.4 Marvell Technology Group Main Business Overview
11.5.5 Marvell Technology Group Latest Developments
11.6 Westone Information Industry
11.6.1 Westone Information Industry Company Information
11.6.2 Westone Information Industry Hardware Security Modules (HSM) Product Offered
11.6.3 Westone Information Industry Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.6.4 Westone Information Industry Main Business Overview
11.6.5 Westone Information Industry Latest Developments
11.7 Ultra Electronics
11.7.1 Ultra Electronics Company Information
11.7.2 Ultra Electronics Hardware Security Modules (HSM) Product Offered
11.7.3 Ultra Electronics Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.7.4 Ultra Electronics Main Business Overview
11.7.5 Ultra Electronics Latest Developments
11.8 Sansec Technology
11.8.1 Sansec Technology Company Information
11.8.2 Sansec Technology Hardware Security Modules (HSM) Product Offered
11.8.3 Sansec Technology Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.8.4 Sansec Technology Main Business Overview
11.8.5 Sansec Technology Latest Developments
11.9 Synopsys, Inc
11.9.1 Synopsys, Inc Company Information
11.9.2 Synopsys, Inc Hardware Security Modules (HSM) Product Offered
11.9.3 Synopsys, Inc Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.9.4 Synopsys, Inc Main Business Overview
11.9.5 Synopsys, Inc Latest Developments
11.10 Futurex
11.10.1 Futurex Company Information
11.10.2 Futurex Hardware Security Modules (HSM) Product Offered
11.10.3 Futurex Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.10.4 Futurex Main Business Overview
11.10.5 Futurex Latest Developments
11.11 Keyou
11.11.1 Keyou Company Information
11.11.2 Keyou Hardware Security Modules (HSM) Product Offered
11.11.3 Keyou Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.11.4 Keyou Main Business Overview
11.11.5 Keyou Latest Developments
11.12 Beijing Dean Information Technology
11.12.1 Beijing Dean Information Technology Company Information
11.12.2 Beijing Dean Information Technology Hardware Security Modules (HSM) Product Offered
11.12.3 Beijing Dean Information Technology Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.12.4 Beijing Dean Information Technology Main Business Overview
11.12.5 Beijing Dean Information Technology Latest Developments
11.13 Fortanix
11.13.1 Fortanix Company Information
11.13.2 Fortanix Hardware Security Modules (HSM) Product Offered
11.13.3 Fortanix Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.13.4 Fortanix Main Business Overview
11.13.5 Fortanix Latest Developments
11.14 Securosys
11.14.1 Securosys Company Information
11.14.2 Securosys Hardware Security Modules (HSM) Product Offered
11.14.3 Securosys Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.14.4 Securosys Main Business Overview
11.14.5 Securosys Latest Developments
11.15 Yubico
11.15.1 Yubico Company Information
11.15.2 Yubico Hardware Security Modules (HSM) Product Offered
11.15.3 Yubico Hardware Security Modules (HSM) Revenue, Gross Margin and 麻豆原创 Share (2020-2025)
11.15.4 Yubico Main Business Overview
11.15.5 Yubico Latest Developments
12 Research Findings and Conclusion
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*If Applicable.