Hardware Encryption Market Size, Development Strategy, Company Profile, Emerging Audience, Sales Revenue, Opportunity Assessment, Competitive Landscape and Potential of The Industry by Forecast 2023

Market Research Future
Market Research Future published a research report on “Hardware Encryption Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Hardware Encryption Market   – Overview

Hardware encryption refers to converting the data stored on a hard drive using refined mathematical functions. This benefits in preventing access to data by unauthorized persons and delivers a layer of security against hackers and other online threats. The major advantage of  hardware encryption is that it remains active at all times and makes it possible for the drive to meet the compliance requirements of government standards for data in banking, finance, medical, and government applications. In hardware encryption, the security constraints and safeguard keys improves the performance of encryption.

The rise in compliance regulations and increasing complexity of data breaches are driving the growth for hardware encryption market. The condensed prices of encrypted chips have increased the growth of the hardware encryption market in all regions. The rising need of regulatory framework and government regulations on data encryption are other factors estimated to accelerate the growth of the overall market through the forecast period.

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Industry News

June, 2017 – Kanguru Solutions, an industry leader in providing secure hardware encrypted USB solutions, launched TAA Compliant USB3.0 external drives with a physical write protection switch. The device possess substantial amount of data storage and write protect switch which helps in switching between read/write and read-only mode.

April, 2018 – Synology Inc., a Taiwanese corporation that specializes in Network-attached storage appliances has announced the availability of its 18-series Network Attached Storage and Network Video Recorder solutions in India. The devices are capable of creating a private cloud with data backup, music/video streaming, photo management, sharing files and so on. The Network Video Recorder system helps with surveillance and offers features such as live monitoring.

Key Players

Some of the key players in the market are Micron Technology Inc. (U.S.), Samsung Electronics (South Korea), Toshiba Corporation (Japan), Western Digital Corporation (U.S.), Seagate Technology PLC (Ireland), Kingston Technology Corp. (U.S.), Micron Technology Inc. (U.S.), Kanguru Solutions (U.S.), Maxim Integrated Products, Inc. (U.S.), NetApp (U.S.), Win Magic Inc. (U.S.), Thales e-security (U.S.).

Global Hardware Encryption Market   – Segmentation

The Hardware Encryption market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;

  • Segmentation by architecture: Comprises Application specific integrated circuits (ASIC), Field programmable gate arrays (FPGA)
  • Segmentation by Algorithm & Standard: Comprises Rivest- Shamir-Adleman (RSA) Algorithm, Advanced Encryption Standard (AES), Secure Hash Algorithm (SHA), Digital Signature Algorithm (DSA) and many others.
  • Segmentation by product: Comprises external hard disk drives, inline network encryptors, internal hard disk drives, solid-state drives and others
  • Segmentation by application: Comprises automotive, BFSI, IT & Telecom, military & aerospace, healthcare and others
  • Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

Global Hardware Encryption Market   – Regional Analysis

The global hardware encryption market is observed for North America, Europe, Asia Pacific and rest of the world. North America is estimated to hold major market share through the forecast period. The presence of major players in the region, rising concerns over data privacy and security are likely to drive the market in the region. However, Asia Pacific is expected to show highest growth rate during the forecast period. The advancements of IT and Telecommunication in the region, and rising awareness regarding significant advantages of hardware encryption are driving the market in this region. The adoption of cloud based services across organizations would provide an opportunity to expel the market through the forecast period.

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Intended Audience

  • Banking
  • Hardware Manufacturers
  • Testing
  • R&D

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