Asia Pacific Hardware Security Module Market Forecast to 2031 - Regional Analysis

Description

List of Tables

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 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.

Product Code: BMIRE00030842

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