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According to the report published by Allied Market Research, the global hardware market encryption market size was valued at $131.77 billion in 2019 and is projected to garner $1,239.85 billion by 2027, registering a CAGR of 32.2% during the forecast period. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.Download Sample Report: https://www.alliedmarketresearch.com/request-sample/358
Imposition of regulatory compliances regarding the protection of private & sensitive data, the decline in prices of hardware encryption devices, upsurge in penetration of consumer electronics such as smartphones and tablets, and increase in complexity & risk of data breaches & brute-force attacks fuel the growth of the global hardware encryption market. On the other hand, high capital investment and limitations in the use of encrypted devices in some countries impede the growth to some extent. Nevertheless, widespread adoption of Internet of Things (IoT) technology & cloud services and ongoing technological advancements in encryption chips are anticipated to create lucrative opportunities in the industry.
Impacts of COVID-19 Pandemic on Hardware Encryption Market:
• With more and more organizations embracing the practice of work-from-home for their employees, the process of encryption and decryption has played an important role in averting unauthorized access to private data. This factor has impacted the global hardware encryption market positively.
• Nevertheless, the market players need to change their business tactics approaches and in order to retain their position in the global scenario.
Get detailed COVID-19 impact analysis on the Hardware Encryption Market: https://www.alliedmarketresearch.com/request-for-customization/358?reqfor=covid
The global hardware encryption market is analyzed across algorithm & standard, architecture, product, application, end-use, and region. Based on algorithm & standard, the RSA segment contributed to nearly half of the total market share in 2018 and is expected to dominate by the end of 2026. At the same time, the AES segment would grow at the fastest CAGR of 33.0% throughout the forecast period.
Based on architecture, the ASIC segment accounted for nearly two-thirds of the total market revenue in 2018 and is anticipated to lead the trail till 2026. The FPGA segment, on the other hand, would register the fastest CAGR of 31.9% from 2019 to 2026.
Based on geography, Asia-Pacific garnered the highest share in 2018, holding nearly two-fifths of the global hardware encryption market. The same region would also portray the fastest CAGR of 33.2% by 2026. The other provinces covered in the report include North America, Europe, and LAMEA.
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The leading market players analyzed in the global hardware encryption market report include Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Samsung Electronics Co., Ltd., Western Digital Technologies, Inc., International Business Machines (IBM) Corporation, Symantec Corporation, Seagate Technology LLC, and Toshiba Corporation. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: +1-800-792-5285
Website: https://www.alliedmarketresearch.com
Release ID: 89029326
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