Hardware Security Modules Market worth $3.28 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 27, 2025 /PRNewswire/ -- The hardware security modules market is expected to reach USD 3.28 billion by 2030, up from USD 1.66 billion in 2025, at a CAGR of 14.5% from 2025 to 2030 according to a new report by MarketsandMarkets™. The market for hardware security modules is growing at a rapid pace as a result of rising data breaches and cyberattacks. As cybercriminals are targeting businesses in different sectors on a regular basis, organizations are focusing on strong encryption and cryptographic security solutions to protect their sensitive information. The major cyberattacks on financial institutions, government departments, and healthcare organizations have highlighted the necessity for strong data protection measures. Increased use of cloud computing and digital transformation strategies has driven cloud hardware security module demand, as they offer on-demand, scalable cryptographic security capabilities. Companies that are using multi-cloud environments are implementing HSM-as-a-Service (HSMaaS) solutions to maintain smooth encryption key management, minimize infrastructure complexity while upholding maximum data security levels.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162277475

Browse in-depth TOC on "Hardware Security Modules Market" 
150 – Tables
70 – Figures
325 – Pages

Hardware Security Modules Market Report Scope:

On-premises deployment to register the largest market share during the forecast period.

The on-premises deployment segment of the hardware security module market is anticipated to grow significantly and hold a larger market share, due to its unparalleled control, security, and compliance capabilities. Organizations dealing with extremely sensitive data, including government offices, financial organizations, and defense agencies, appreciate on-premises HSMs for their capability to have complete control over cryptographic keys and secure their operations in defined physical locations. This particular deployment model is highly preferred in industries that are subject to rigorous regulatory guidelines, including GDPR, HIPAA, and PCI DSS, where data sovereignty and adherence are of utmost importance. On-premises HSMs provide low latency and high-speed processing, and hence are ideal for mission-critical applications, like payment processing, identity verification, and secure communication, where real-time performance is essential. The growing fears of data breaches and insider threats are compelling organizations to make an investment in on-premises HSMs as a long-term security measure.

Medical & Life Sciences vertical segment to witness highest CAGR during the forecast period.

The medical & life sciences segment is expected to witness the highest CAGR in the hardware security modules industry fueled by the fast-growing digitization of healthcare, increasing adoption of electronic health records (EHRs), and increasing cybersecurity threats to sensitive medical information. Hospitals, research institutions, and pharmaceutical companies shift toward cloud-based healthcare solutions, AI-driven diagnostics, and telemedicine. The need for robust cryptographic security to protect patient data, medical research, and drug development processes has intensified. Hardware security modules (HSMs) are an important component for securing encryption keys, maintaining regulatory compliance, and preventing unauthorized access to sensitive health data. The risk of cyberattacks targeting medical devices also rises with the use of connected devices in healthcare. Vulnerabilities in these devices can have several consequences, such as tampering with treatment protocols or disrupting patient monitoring systems. The HIPAA Journal reports that the healthcare industry suffered 13 large-scale data breaches in 2024, each of over one million records. This rise in large-scale healthcare data breaches underlines the necessity for effective cybersecurity solutions in the medical and life sciences industry. HSMs tackle these issues quite effectively by offering secure firmware updates, device identity protection, and secure communication between devices and central systems.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=162277475

North America to account for largest market share during forecast period.

North America will dominate the market for hardware security modules (HSM), stimulated by regulatory requirements, advances in technology, and growing cybersecurity concerns. Stringent data protection legislations such as the California Consumer Privacy Act (CCPA) and the Health Insurance Portability and Accountability Act (HIPAA) in the region are some of the significant drivers of growth. These rules mandate organizations to deploy strong encryption and key management solutions, which are pushing industries like healthcare, finance, and retail to use HSM technology for data integrity and regulatory compliance. North America's huge investments in cloud infrastructure are driving the need for cloud hardware security modules (Cloud HSMs). The US, which hosts top cloud service providers such as Microsoft Azure, Amazon Web Services, Inc. (AWS), and Google Cloud, is seeing large-scale adoption of HSM solutions in cloud security environments. The growing trend toward hybrid and multi-cloud environments, especially in the financial, government, and healthcare sectors, is further propelling the demand for secure cryptographic key management. The rising adoption of cloud-based HSM solutions, known for their scalability and flexibility, has positioned North America as the largest market for HSM technologies. With cybersecurity threats evolving rapidly, enterprises across the region are prioritizing hardware security modules technology to protect sensitive data, secure digital transactions, and fortify cloud infrastructures, reinforcing North America's leadership in the global HSM market.

The major players in the hardware security modules companies include Thales (France), Utimaco Management Services GmbH (Germany), Futurex (US), Entrust Corporation (US), IBM (US), Atos SE (France), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Yubico (US), DINAMO NETWORKS (Brazil), Securosys (Switzerland), Spyrus (US), Adweb Technologies (India), Lattice Semiconductor (US), ellipticSecure (UK), ETAS (Germany), Sansec (China), Fortanix (US), JISA Softech Pvt. Ltd. (India), Microsoft (US), Nitrokey (Germany), Kryptoagile Solutions Pvt. Ltd. (India), Kryptus (Brazil), Crypto4A (Canada), and Amazon Web Services, Inc. (US). These players have adopted various organic and inorganic growth strategies such as expansions, partnerships, product launches, collaborations, acquisitions, contracts, and agreements.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=162277475

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Embedded Security Market Size, Share & Industry Trends Growth Analysis Report by Offering (Hardware (Secure Element, Embedded Sim, Hardware Token), Software, Services), Security Type (Authentication and Access Management, Payment, Content Protection), Application and Region - Global Forecast to 2028

Hardware Encryption Market Size, Share, Trends & Industry Growth Analysis Report by Product Type (External HDD, Internal HDD, SSD, Inline Network Encryptor, USB Flash Drive), Application (Consumer Electronics, Aerospace & Defense, Transportation, Healthcare) and Region – Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hardware-security-modules-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/hardware-security-modules.asp

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg