Europe 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)
The Europe hardware security module market was valued at US$ 471.97 million in 2023 and is projected to reach US$ 1,371.76 million by 2031; it is estimated to register a CAGR of 14.3% from 2023 to 2031.
Growing Adoption of HSM for Retail Payment Transactions Drives Europe Hardware Security Module Market
The popularity of online data-sharing applications, as well as digital technologies, is increasing due to the trend of remote working. This trend promotes digital transition, particularly for financial institutions such as banks, as e-banking usage and online sales have significantly increased. Digital transactions and payments have also risen as a result of mobile banking and third-party payment apps such as Google Pay or Amazon Pay that are connected to open banking platforms. Financial institutions are implementing hardware security modules for payments in an effort to streamline cryptography processes. They consistently manage numerous security apps and safeguard important payment information and transactions with a single hardware security module (HSM). For retail payment transactions, hardware security modules are implemented to protect the sensitive data of customers. As a result, market players are increasingly focusing on product development in the retail payment ecosystem. For instance, in September 2023, Thales announced the launch of the payShield Cloud HSM service to make it easy and flexible for payment HSMs to migrate to the cloud. Similarly, in June 2023, AWS announced a new service, AWS Payment Cryptography. This service simplifies cryptography operations, which help secure data in payment processing applications for credit, debit, and stored-value cards in accordance with the network, payment card industry (PCI), and American National Standards Institute (ANSI) standards and regulations. Financial service providers can replace their on-premises hardware security modules with shift payments-specific cryptography and major management functions to the cloud. Therefore, the growing adoption of HSM for retail payment transactions fuels the hardware security module market growth.
Europe Hardware Security Module Market Overview
Europe held the largest hardware security module market share in 2022. The Europe market is expected to grow considerably during the projected period due to the increasing awareness of the data security benefits provided by HSMs. The growing BFSI, IT & telecommunication, healthcare, and other industries in the region are raising the need for hardware security modules to protect their business information. Furthermore, the increasing digital advancements in Germany, the UK, and other European countries and the growing adoption of cloud-based technologies are creating an opportunity for the hardware security module market in Europe.
Europe Hardware Security Module Market Revenue and Forecast to 2031 (US$ Million)
Europe Hardware Security Module Market Segmentation
The Europe hardware security module market is categorized into type, application, industry, and country.
Based on type, the Europe 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 Europe 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 Europe 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 Europe hardware security module market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Germany dominated the Europe hardware security module market share in 2023.
Thales SA, STMicroelectronics NV, Atos SE, International Business Machines Corp, Futurex LP, 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 Europe 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. Europe Hardware Security Module Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. Europe 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 - Europe Analysis
6.1 Hardware Security Module Market Revenue (US$ Million), 2021-2031
6.2 Hardware Security Module Market Forecast Analysis
7. Europe 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. Europe 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. Europe 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. Europe Hardware Security Module Market - Country Analysis
10.1 Europe
10.1.1 Europe: Hardware Security Module Market - Revenue and Forecast Analysis - by Country
10.1.1.1 Europe: Hardware Security Module Market - Revenue and Forecast Analysis - by Country
10.1.1.2 France: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.2.1 France: Hardware Security Module Market Breakdown, by Type
10.1.1.2.2 France: Hardware Security Module Market Breakdown, by Application
10.1.1.2.3 France: Hardware Security Module Market Breakdown, by Industry
10.1.1.3 Germany: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.3.1 Germany: Hardware Security Module Market Breakdown, by Type
10.1.1.3.2 Germany: Hardware Security Module Market Breakdown, by Application
10.1.1.3.3 Germany: Hardware Security Module Market Breakdown, by Industry
10.1.1.4 United Kingdom: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.4.1 United Kingdom: Hardware Security Module Market Breakdown, by Type
10.1.1.4.2 United Kingdom: Hardware Security Module Market Breakdown, by Application
10.1.1.4.3 United Kingdom: Hardware Security Module Market Breakdown, by Industry
10.1.1.5 Italy: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.5.1 Italy: Hardware Security Module Market Breakdown, by Type
10.1.1.5.2 Italy: Hardware Security Module Market Breakdown, by Application
10.1.1.5.3 Italy: Hardware Security Module Market Breakdown, by Industry
10.1.1.6 Russia: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.6.1 Russia: Hardware Security Module Market Breakdown, by Type
10.1.1.6.2 Russia: Hardware Security Module Market Breakdown, by Application
10.1.1.6.3 Russia: Hardware Security Module Market Breakdown, by Industry
10.1.1.7 Rest of Europe: Hardware Security Module Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.7.1 Rest of Europe: Hardware Security Module Market Breakdown, by Type
10.1.1.7.2 Rest of Europe: Hardware Security Module Market Breakdown, by Application
10.1.1.7.3 Rest of Europe: 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 Futurex LP
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 Swift SC
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 Infineon Technologies AG
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 Hewlett Packard Enterprise Development LP
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 Utimaco Management Services GmbH
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
13.10 Marvell Technology Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. Europe 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. Europe: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Country
Table 8. France: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 9. France: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 10. France: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry
Table 11. Germany: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 12. Germany: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 13. Germany: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry
Table 14. United Kingdom: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 15. United Kingdom: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 16. United Kingdom: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry
Table 17. Italy: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 18. Italy: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 19. Italy: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry
Table 20. Russia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 21. Russia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 22. Russia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Industry
Table 23. Rest of Europe: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Type
Table 24. Rest of Europe: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million) - by Application
Table 25. Rest of Europe: 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. Europe 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. Europe Hardware Security Module Market, by Key Countries - Revenue (2023) (US$ Million)
Figure 27. Europe: Hardware Security Module Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 28. France: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 29. Germany: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 30. United Kingdom: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 31. Italy: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 32. Russia: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 33. Rest of Europe: Hardware Security Module Market - Revenue and Forecast to 2031(US$ Million)
Figure 34. Company Positioning & Concentration
- Thales SA.
- STMicroelectronics NV.
- Atos SE.
- International Business Machines Corp.
- Futurex LP.
- Swift SC.
- Infineon Technologies AG.
- Hewlett Packard Enterprise Development LP.
- Utimaco Management Services GmbH.
- Marvell Technology Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe 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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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.