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Market Overview:Hardware encryption is a fast rising data encryption technology and is expected to remain highly relevant in the years to come. The process of encrypting data on a hard drive using sophisticated algorithms can be daunting and therefore holds significant potential. Moreover, such encryption platforms allow storage of even the most complex form of data. Usually, data on an encrypted hard drive is difficult to access without proper authorization owing to its multilayer security barrier, which is driving its adoption in various domains. Over the years, security algorithms have evolved and improved consistently, making security of encrypted data robust and effective. Market Research Future (MRFR) in its new report reveals that the global market for hardware encryption will soar at 22% CAGR during the review period (2017-2023).
With the rising incidence of data theft and intellectual property theft, demand for hardware-based encryption continues to increase resolutely. Cyber security has become a key focus area for governments, enterprises and businesses across the globe. Investments are being made on technologies that not only have a higher level of sophistication but also meet the required security barrier standards. This is partly driving the adoption of hardware encryption. Apart from this, there are several other technological advantages of hardware encryption, which are equally influencing the adoption trends. In additions, introduction of new regulatory frameworks for the technology sector is supporting the growth of the market. Technology firms are constantly introducing advanced and innovative hardware encryption platforms that meet the requirement for securing mission critical end points and data collection devices (wearable, power grids, UAVs, in-vehicle cameras, homeland security, etc.) existing in the IoT environment.
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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.
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.
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Intended Audience
• Banking
• Hardware Manufacturers
• Testing
• R&D
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 460617
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