Europe Hardware Security Modules (HSM) Market Size, Trends and Growth opportunity, By Type (LAN-Based HSM, PCIe-Based, and USB-Based), By Application (Payment Processing, Code and Document Signing, and Authentication), By End-Users (Government, Energy and Utilities, Healthcare, and others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Europe Hardware Security Modules (HSM) Market 
Europe Hardware Security Modules (HSM) Market was valued at USD 111.75 million in 2021 and is expected to reach USD 179.5 million by 2027, at a CAGR 11.0% from 2022-2027.
A Hardware Security Module (HSM) is a physical computing device which safeguards and manages secrets, performs encryption & decryption functions for digital signatures, strong authentication, and other cryptographic functions. A hardware security module is a dedicated crypto processor which is specifically designed for the protection of the crypto key lifecycle.
For example, OpenDNSSEC is an open-source hardware security module tool for managing signing of DNS zone files. Hardware Security Modules can also be used as cryptocurrency wallets.
Market Drivers
The increasing numbers of cyberattacks and data breaches propel the Europe Hardware Security Modules (HSM) Market growth. Also, the increased data intrusions & internet, and cyber-attacks legislation, and better cryptographic key organization which is considered a major factor for driving the growth of the market. 
Further, many procedures, such as identification, application signature, and implementation encryption, rely on security at the component level for security. As a result, the market is projected to be driven by these components' capacity to allow effective administration of cryptographic keys is fueling the growth of the European Hardware Security Modules market.
Market Restraints
Many times, physical device security is neglected. Vulnerabilities exist because hardware security module updates are expensive. Moreover, vulnerability to cyberattacks and security breaches are challenging factors that restrains the market growth further.
Market Segmentation
The Europe Hardware Security Modules (HSM) Market is segmented into Type, Application, End-Users, and Region.
Based on End-Users, the European Hardware Security Modules (HSM) Market is segmented into Government, Energy and Utilities, and Healthcare.
Regional Analysis
The Europe Hardware Security Modules (HSM) Market is segmented into five countries such as Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The European region, especially in the UK, Germany, and France, the introduction of cutting-edge technologies like 5G, IoT, and Artificial Intelligence has increased the demand for network security. Recently, many cyberattacks have targeted the European banking and retail industries. For instance, in April 2022, a cyberattack led The Works, a U.K. company, to shut down its locations & stop replenishment deliveries. 
Moreover, Germany's hardware security modules market held the largest market share, and the U.K. hardware security modules market was the fastest-growing market in this region.
Key Players
Various key players are discussed into the Europe Hardware Security Modules (HSM) Market Report including: Gemalto NV, Utimaco GmbH, SWIFT SCRL, Atos S.E., Ultra-Electronics, Thales Group, Hewlett Packard Enterprise Development LP, IBM, FutureX, Ultra Group, and Others.
For instance, in June 2022, IBM & Siam Commercial Bank, a Thai-based financial service provider, had signed a contract to enhance the security of the platform's various digital transactions & enhance customer service. The partnership intended to take advantage of IBM's essential expertise in offering a secure, robust corporate platform that is mission-critical on hybrid multi-cloud to decrease risks & stop financial frauds.
Market Taxonomy
By Type
•        LAN-Based HSM
•        PCIe-Based
•        USB-Based
By Application
•        Payment Processing
•        Code and Document Signing
•        Authentication
By End-Users
•        Government
•        Energy and Utilities
•        Healthcare
By Region
•        Germany
•        UK
•        France
•        Russia
•        Spain
•        Italy
•        Rest of Europe

Europe Hardware Security Modules (HSM) Market
1 Introduction        
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Europe Hardware Security Modules (HSM) Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Europe Hardware Security Modules (HSM) Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Europe Hardware Security Modules (HSM) Market Share Analysis, By Type
5.3 Europe Hardware Security Modules (HSM) Market Size and Forecast, By Type
5.3.1 LAN-Based HSM
5.3.2 PCIe-Based
5.3.3 USB-Based
6 Europe Hardware Security Modules (HSM) Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Europe Hardware Security Modules (HSM) Market Share Analysis, By Application
6.3 Europe Hardware Security Modules (HSM) Market Size and Forecast, By Application
6.3.1 Payment Processing
6.3.2 Code and Document Signing
6.3.3 Authentication
7 Europe Hardware Security Modules (HSM) Market, By End-Users
7.1 Y-o-Y Growth Comparison, By End-Users
7.2 Europe Hardware Security Modules (HSM) Market Share Analysis, By End-Users
7.3 Europe Hardware Security Modules (HSM) Market Size and Forecast, By End-Users
7.3.1 Government
7.3.2 Energy and Utilities
7.3.3 Healthcare
8 Europe Hardware Security Modules (HSM) Market, By Region
8.1 Europe Hardware Security Modules (HSM) Market Share Analysis, By Region
8.2 Europe Hardware Security Modules (HSM) Market Share Analysis, By Region
8.3 Europe Hardware Security Modules (HSM) Market Size and Forecast, By Region
9 Europe Hardware Security Modules (HSM) Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Hardware Security Modules (HSM) Market Share Analysis, By Type
9.3 Europe Hardware Security Modules (HSM) Market Size and Forecast, By Application
9.5 Europe Hardware Security Modules (HSM) Market Size and Forecast, By End-User
9.6 Europe Hardware Security Modules (HSM) Market Size and Forecast, By Country
9.6.1 Germany
9.6.2 France
9.6.3 UK
9.6.4 Rest of Europe
10 Competitive Analysis
10.1 Competition Dashboard
10.2 Market share Analysis of Top Vendors
10.3 Key Development Strategies
11 Company Profiles
11.1 Gemalto NV
11.1.1 Overview
11.1.2 Offerings
11.1.3 Key Financials
11.1.4 Business Segment & Geographic Overview
11.1.5 Key Market Developments
11.1.6 Key Strategies
11.2 Utimaco GmbH
11.2.1 Overview
11.2.2 Offerings
11.2.3 Key Financials
11.2.4 Business Segment & Geographic Overview
11.2.5 Key Market Developments
11.2.6 Key Strategies
11.3 SWIFT SCRL
11.3.1 Overview
11.3.2 Offerings
11.3.3 Key Financials
11.3.4 Business Segment & Geographic Overview
11.3.5 Key Market Developments
11.3.6 Key Strategies
11.4 Atos S.E.
11.4.1 Overview
11.4.2 Offerings
11.4.3 Key Financials
11.4.4 Business Segment & Geographic Overview
11.4.5 Key Market Developments
11.4.6 Key Strategies
11.5 Ultra-Electronics
11.5.1 Overview
11.5.2 Offerings
11.5.3 Key Financials
11.5.4 Business Segment & Geographic Overview
11.5.5 Key Market Developments
11.5.6 Key Strategies
11.6 Thales Group
11.6.1 Overview
11.6.2 Offerings
11.6.3 Key Financials
11.6.4 Business Segment & Geographic Overview
11.6.5 Key Market Developments
11.6.6 Key Strategies
11.7 Hewlett Packard Enterprise Development LP
11.7.1 Overview
11.7.2 Offerings
11.7.7.3 Key Financials
11.7.4 Business Segment & Geographic Overview
11.7.5 Key Market Developments
11.7.6 Key Strategies        
11.8 IBM
11.8.1 Overview
11.8.2 Offerings
11.8.3 Key Financials
11.8.4 Business Segment & Geographic Overview
11.8.5 Key Market Developments
11.8.6 Key Strategies
11.9 FutureX
11.8.1 Overview
11.8.2 Offerings
11.8.3 Key Financials
11.8.4 Business Segment & Geographic Overview
11.8.5 Key Market Developments
11.8.6 Key Strategies
11.10 Ultra Group
11.9.1 Overview
11.9.2 Offerings
11.9.3 Key Financials
11.9.4 Business Segment & Geographic Overview
11.9.5 Key Market Developments
11.9.6 Key Strategies