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Hardware Encryption Market 2023: Comprehensive Research Study
minutes de lecture
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Hard-drive encryption is a technology that encrypts the data stored on a hard drive using sophisticated mathematical functions. Its ease of use, consistent performance, and robust protection against numerous common and less sophisticated attacks offsets its high cost as compared to software-based encryption.
Increasing complexity & volume of data breaches and reduced cost of encryption are major drivers boosting the growth of hardware encryption market. The key growth drivers include growing concern for data privacy, data security issues, increasing number of cyber-attacks, stringent regulatory compliances, rising demand for BYOD devices at workplaces, benefits of hardware encryption over software encryption technology and rising digital trends.
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The global hardware encryption market is expected to grow at 22% CAGR through the forecast period.
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.
The competitive landscape of global hardware encryption market is formed by major players of the market and some of the new entrants. The hardware encryption has driven many areas like BFSI, military & aerospace, healthcare, IT & Telecom. North America leads the market for the global hardware encryption. Many technical advancements were been observed from this region. Western Digital Corporation, an American computer data storage company, revealed its new product My Book Duo external hard drive. The hard drive features 20 TB storage in Raid zero and one configuration, USB-C and USB-A ports. My Book offers sequential read speeds of 360 MB per second. My Book allows for redundancy and reduces the risk of data loss. Secured with 256-bit AES hardware encryption, the drive lets users set a password to activate the hardware data encryption and data protection. The drive serves the need of data storage for home users, businesses and creative professionals such as video and photo producers and editors.
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- Hardware Manufacturers
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Hardware Encryption Market
5 Industry Overview Of Global Hardware Encryption Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
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