South & Central America Hardware Security Module Market

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

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)

No. of Pages: 105    |    Report Code: BMIRE00030846    |    Category: Electronics and Semiconductor

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The South & Central America hardware security module market was valued at US$ 71.71 million in 2023 and is projected to reach US$ 165.38 million by 2031; it is estimated to register a CAGR of 11.0% from 2023 to 2031.

Growing Adoption of Cloud-based HSMs Fuels South & Central America 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.

South & Central America Hardware Security Module Market Overview



The South & Central America hardware security module market is segmented into Brazil, Argentina, and the Rest of South America. Economies in South & Central America have developed at a faster growth rate on average than the economies of developed countries in the last few years. However, they still lag in terms of technological development when compared to other regions. The deployment of 5G networks signifies an important opportunity for development in South America. With the rollout of 5G networks, hybrid asymmetric/symmetric algorithms are designed to authenticate user identity and to defend against unauthorized access. Running algorithms within the tamper-resistant environment of a hardware security module has become critical for the security of these rollouts. Typically offered as certified devices, hardware security modules have also evolved to meet the varying requirements for compliance with regulatory necessities.

In 2021, Chile became the first South American country to include the 5G network throughout its national territory. Brazil is expected to have the largest 5G network coverage in South and Central America by 2025. In countries such as Colombia, Peru, Brazil, and Puerto Rico, there have been commercial 5G launches. As per the Telefonaktiebolaget LM Ericsson, the digitalization of industries in South America is expected to be valued at over US$ 21 billion annually. According to 5G Americas, currently, nearly 18 5G networks are operating in South America. By the end of 2026, 5G is expected to represent ~43% of mobile subscriptions in Latin America.

Investments in 5G networks are continuously growing. For instance, GSMA estimated that 5G investments will peak by 2025. Mobile operators invested US$ 11.3 billion in 2020, which is expected to rise to US$ 13 billion in 2025. Overall investments between 2020 and 2025 are expected to reach US$ 73 billion. Thus, all these factors are likely to propel the hardware security module market in South & Central America.

South & Central America Hardware Security Module Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Hardware Security Module Market Revenue and Forecast to 2031 (US$ Million)
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South & Central America Hardware Security Module Strategic Insights

Strategic insights for the South & Central America Hardware Security Module provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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South & Central America Hardware Security Module Report Scope

Report Attribute Details
Market size in 2023 US$ 71.71 Million
Market Size by 2031 US$ 165.38 Million
Global CAGR (2023 - 2031) 11.0%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • LAN Based
  • PCIe Based
  • USB Based
By Application
  • Payment Processing
  • Secure Socket Layer
  • Authentication
  • Code and Document Signing
  • Database Encryption
  • Credential Management
  • Application-Level Encryption
Regions and Countries Covered South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Market leaders and key company profiles
  • Thales SA.
  • STMicroelectronics NV.
  • Atos SE.
  • International Business Machines Corp.
  • Swift SC.
  • Infineon Technologies AG.
  • Hewlett Packard Enterprise Development LP.
  • Utimaco Management Services GmbH.
  • Marvell Technology Inc.
    		•
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    South & Central America Hardware Security Module Regional Insights

    The geographic scope of the South & Central America Hardware Security Module refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    South & Central America Hardware Security Module Market Segmentation 



    The South & Central America hardware security module market is categorized into type, application, industry, and country.

    Based on type, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America hardware security module market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America 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 South & Central America hardware security module market.

    Identical Market Reports with other Region/Countries

    The List of Companies - South & Central America Hardware Security Module Market

    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.
    Frequently Asked Questions
    How big is the South & Central America Hardware Security Module Market?

    The South & Central America Hardware Security Module Market is valued at US$ 71.71 Million in 2023, it is projected to reach US$ 165.38 Million by 2031.

    What is the CAGR for South & Central America Hardware Security Module Market by (2023 - 2031)?

    As per our report South & Central America Hardware Security Module Market, the market size is valued at US$ 71.71 Million in 2023, projecting it to reach US$ 165.38 Million by 2031. This translates to a CAGR of approximately 11.0% during the forecast period.

    What segments are covered in this report?

    The South & Central America Hardware Security Module Market report typically cover these key segments-

  • Type (LAN Based, PCIe Based, USB Based)
  • Application (Payment Processing, Secure Socket Layer, Authentication, Code and Document Signing, Database Encryption, Credential Management, Application-Level Encryption)

    • What is the historic period, base year, and forecast period taken for South & Central America Hardware Security Module Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Hardware Security Module Market report:

  • Historic Period : 2021-2022
  • Base Year : 2023
  • Forecast Period : 2024-2031
    • Who are the major players in South & Central America Hardware Security Module Market?

    The South & Central America Hardware Security Module Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Thales SA.
  • STMicroelectronics NV.
  • Atos SE.
  • International Business Machines Corp.
  • Swift SC.
  • Infineon Technologies AG.
  • Hewlett Packard Enterprise Development LP.
  • Utimaco Management Services GmbH.
  • Marvell Technology Inc.
    • Who should buy this report?

    The South & Central America Hardware Security Module Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the South & Central America Hardware Security Module Market value chain can benefit from the information contained in a comprehensive market report.

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