Asia Pacific Hardware Security Module Market Forecast to 2031 - Regional Analysis - by Type (LAN Based, PCIe Based, and USB Based), Application (Payment Processing, Secure Socket Layer, Authentication, Code and Document Signing, Database Encryption, Credential Management, and Application-Level Encryption), and Industry (BFSI, Government, IT and Telecom, Healthcare, Manufacturing, Retail and Consumer Goods, and Others)

BMIRE00030842 | Pages: 117 | Electronics and Semiconductor | Oct 2024 | Type: Regional | Status: Published

The Asia Pacific hardware security module market was valued at US$ 292.15 million in 2023 and is projected to reach US$ 914.88 million by 2031; it is estimated to register a CAGR of 15.3% from 2023 to 2031.

Growing Adoption of Cloud-based HSMs Boosts Asia Pacific Hardware Security Module Market

HSMs using cloud-based technologies offer physical data access protection, generation of keys, secure management of key material, and a secure execution environment for cloud applications. A few of the major market players are focusing on developing advanced hardware security modules for cloud-based applications. For instance, in September 2022, Marvell unveiled its LiquidSecurity 2 (LS2) hardware security module adapter, an advanced solution that offers encryption, key management, authentication, and other hardware security module services in the cloud. Furthermore, LS2 is a converged security platform for payment, privacy compliance, and general-purpose applications. It is powered by Marvell OCTEON, a cloud-optimized data processing unit (DPU), which is proven at scale across the world as the largest hyperscale cloud. The new adapter offers the highest-performing cryptographic acceleration and processing, as well as hardware-secured storage of up to one million keys for AES, RSA, and ECC encryption algorithms and 45 partitions for robust multi-tenant use cases. Also, in August 2023, Thales announced the launch of its new payShield Cloud HSM service, aimed to boost the adoption of cloud payments infrastructure. The solution, built on its payShield 10k Payment Hardware Security Module (HSM), focuses on providing clients with improved flexibility, scalability, and speed-to-market solutions. Thus, the growing adoption of cloud-based HSMs is expected to create lucrative opportunities for the hardware security module market growth during the forecast period.

Asia Pacific Hardware Security Module Market Overview

Asia Pacific is expected to register the fastest CAGR during the forecast period. According to the report of IBM in 2022, the impacts of cyberattacks were felt in almost all industries of the global economy. The leading industries that were attacked included manufacturing (25%), finance & insurance (19%), and professional, business, and consumer (PBC) services (15%). Asia Pacific was the most targeted region, subjecting to 31% of attacks. The increasing number of cyberattacks in APAC is facilitating the expansion of the hardware security module market. Also, according to the report of Positive Technologies, cyber espionage is a major threat to states and organizations in Asia. Nearly 49% of successful attacks on organizations resulted in compromise of sensitive information. Governments and organizations heavily invest in research and technology, and stealing this kind of information can offer competitors a technological advantage.

Asia Pacific Hardware Security Module Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Hardware Security Module Market Revenue and Forecast to 2031 (US$ Million)

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Asia Pacific Hardware Security Module Market Segmentation 

The Asia Pacific hardware security module market is categorized into type, application, industry, and country.

Based on type, the Asia Pacific hardware security module market is segmented into LAN based, PCLe based, and USB based. The LAN based segment held the largest market share in 2023.

In terms of application, the Asia Pacific hardware security module market is categorized into payment processing, secure socket layer, authentication, code and document signing, database encryption, credential management, and application-level encryption. The payment processing segment held the largest market share in 2023.

By industry, the Asia Pacific hardware security module market is segmented into BFSI, government, IT and telecom, healthcare, manufacturing, retail and consumer goods, and others. The BFSI segment held the largest market share in 2023.

By country, the Asia Pacific hardware security module market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific hardware security module market share in 2023.

Thales SA, STMicroelectronics NV, Atos SE, International Business Machines Corp, Swift SC, Infineon Technologies AG, Hewlett Packard Enterprise Development LP, Utimaco Management Services GmbH, and Marvell Technology Inc are some of the leading companies operating in the Asia Pacific hardware security module market.

TABLE OF CONTENTS

 

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research

3.2 Primary Research

3.2.1 Hypothesis formulation:

3.2.2 Macro-economic factor analysis:

3.2.3 Developing base number:

3.2.4 Data Triangulation:

3.2.5 Country level data:

4. Asia Pacific Hardware Security Module Market Landscape

4.1 Overview

4.2 Ecosystem Analysis

4.2.1 List of Vendors in the Value Chain

5. Asia Pacific Hardware Security Module Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rising Cases of Data Breach

5.1.2 Growing Adoption of HSM for Retail Payment Transactions

5.2 Market Restraints

5.2.1 High Installation Cost of Hardware Security Module and Other Associated Issues

5.3 Market Opportunities

5.3.1 Growing Adoption of Cloud-based HSMs

5.4 Future Trends

5.4.1 Rising Adoption of 5G Network

5.5 Impact of Drivers and Restraints:

6. Hardware Security Module Market - Asia Pacific Analysis

6.1 Hardware Security Module Market Revenue (US$ Million), 2021-2031

6.2 Hardware Security Module Market Forecast Analysis

7. Asia Pacific Hardware Security Module Market Analysis - by Type

7.1 LAN based

7.1.1 Overview

7.1.2 LAN based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

7.2 PCIe based

7.2.1 Overview

7.2.2 PCIe based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

7.3 USB Based

7.3.1 Overview

7.3.2 USB Based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8. Asia Pacific Hardware Security Module Market Analysis - by Application

8.1 Payment Processing

8.1.1 Overview

8.1.2 Payment Processing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.2 Secure Socket Layer

8.2.1 Overview

8.2.2 Secure Socket Layer: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.3 Authentication

8.3.1 Overview

8.3.2 Authentication: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.4 Code and Document Signing

8.4.1 Overview

8.4.2 Code and Document Signing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.5 Database Encryption

8.5.1 Overview

8.5.2 Database Encryption: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.6 Credential Management

8.6.1 Overview

8.6.2 Credential Management: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

8.7 Application-Level Encryption

8.7.1 Overview

8.7.2 Application-Level Encryption: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9. Asia Pacific Hardware Security Module Market Analysis - by Industry

9.1 BFSI

9.1.1 Overview

9.1.2 BFSI: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.2 Government

9.2.1 Overview

9.2.2 Government: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.3 IT and Telecom

9.3.1 Overview

9.3.2 IT and Telecom: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.4 Healthcare

9.4.1 Overview

9.4.2 Healthcare: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.5 Manufacturing

9.5.1 Overview

9.5.2 Manufacturing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.6 Retail and Consumer Goods

9.6.1 Overview

9.6.2 Retail and Consumer Goods: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

9.7 Others

9.7.1 Overview

9.7.2 Others: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10. Asia Pacific Hardware Security Module Market - Country Analysis

10.1 Asia Pacific

10.1.1 Asia Pacific: Hardware Security Module Market - Revenue and Forecast Analysis - by Country

10.1.1.1 Asia Pacific: Hardware Security Module Market - Revenue and Forecast Analysis - by Country

10.1.1.2 Australia: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.2.1 Australia: Hardware Security Module Market Breakdown, by Type

10.1.1.2.2 Australia: Hardware Security Module Market Breakdown, by Application

10.1.1.2.3 Australia: Hardware Security Module Market Breakdown, by Industry

10.1.1.3 China: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.3.1 China: Hardware Security Module Market Breakdown, by Type

10.1.1.3.2 China: Hardware Security Module Market Breakdown, by Application

10.1.1.3.3 China: Hardware Security Module Market Breakdown, by Industry

10.1.1.4 India: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.4.1 India: Hardware Security Module Market Breakdown, by Type

10.1.1.4.2 India: Hardware Security Module Market Breakdown, by Application

10.1.1.4.3 India: Hardware Security Module Market Breakdown, by Industry

10.1.1.5 Japan: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.5.1 Japan: Hardware Security Module Market Breakdown, by Type

10.1.1.5.2 Japan: Hardware Security Module Market Breakdown, by Application

10.1.1.5.3 Japan: Hardware Security Module Market Breakdown, by Industry

10.1.1.6 South Korea: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.6.1 South Korea: Hardware Security Module Market Breakdown, by Type

10.1.1.6.2 South Korea: Hardware Security Module Market Breakdown, by Application

10.1.1.6.3 South Korea: Hardware Security Module Market Breakdown, by Industry

10.1.1.7 Rest of APAC: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

10.1.1.7.1 Rest of APAC: Hardware Security Module Market Breakdown, by Type

10.1.1.7.2 Rest of APAC: Hardware Security Module Market Breakdown, by Application

10.1.1.7.3 Rest of APAC: Hardware Security Module Market Breakdown, by Industry

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players

11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 Product Development

13. Company Profiles

13.1 Thales SA

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

13.2 STMicroelectronics NV

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Atos SE

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 International Business Machines Corp

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Swift SC

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 Infineon Technologies AG

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 Hewlett Packard Enterprise Development LP

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 Utimaco Management Services GmbH

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 Marvell Technology Inc

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

14. Appendix

14.1 About The Insight Partners

 

List of Tables

Table 1. Asia Pacific Hardware Security Module Market Segmentation

Table 2. List of Vendors

Table 3. Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Table 4. Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million) - by Type

Table 5. Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million) - by Application

Table 6. Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million) - by Industry

Table 7. Asia Pacific: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Country

Table 8. Australia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 9. Australia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 10. Australia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 11. China: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 12. China: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 13. China: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 14. India: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 15. India: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 16. India: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 17. Japan: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 18. Japan: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 19. Japan: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 20. South Korea: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 21. South Korea: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 22. South Korea: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 23. Rest of APAC: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 24. Rest of APAC: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 25. Rest of APAC: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry

Table 26. Heat Map Analysis by Key Players

 

List of Figures

Figure 1. Asia Pacific Hardware Security Module Market Segmentation, by Country

Figure 2. Ecosystem Analysis

Figure 3. Hardware Security Module Market - Key Market Dynamics

Figure 4. Impact Analysis of Drivers and Restraints

Figure 5. Hardware Security Module Market Revenue (US$ Million), 2021-2031

Figure 6. Hardware Security Module Market Share (%) - by Type (2023 and 2031)

Figure 7. LAN based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 8. PCIe based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 9. USB Based: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 10. Hardware Security Module Market Share (%) - by Application (2023 and 2031)

Figure 11. Payment Processing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 12. Secure Socket Layer: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 13. Authentication: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 14. Code and Document Signing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 15. Database Encryption: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 16. Credential Management: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 17. Application-Level Encryption: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 18. Hardware Security Module Market Share (%) - by Industry (2023 and 2031)

Figure 19. BFSI: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 20. Government: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 21. IT and Telecom: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 22. Healthcare: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 23. Manufacturing: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 24. Retail and Consumer Goods: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 25. Others: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)

Figure 26. Asia Pacific Hardware Security Module Market, by Key Countries - Revenue (2023) (US$ Million)

Figure 27. Asia Pacific: Hardware Security Module Market Breakdown, by Key Countries, 2023 and 2031 (%)

Figure 28. Australia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 29. China: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 30. India: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 31. Japan: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 32. South Korea: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 33. Rest of APAC: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)

Figure 34. Company Positioning & Concentration

  1. Thales SA.
  2. STMicroelectronics NV.
  3. Atos SE.
  4. International Business Machines Corp.
  5. Swift SC.
  6. Infineon Technologies AG.
  7. Hewlett Packard Enterprise Development LP.
  8. Utimaco Management Services GmbH.
  9. Marvell Technology Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific hardware security module market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific hardware security module market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific hardware security module market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
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