Table of Content

1 INTRODUCTION 26
1.1 STUDY OBJECTIVES 26
1.2 MARKET DEFINITION 26
1.2.1 INCLUSIONS AND EXCLUSIONS 26
1.3 STUDY SCOPE 27
1.3.1 MARKETS COVERED 27
1.3.2 YEARS CONSIDERED 27
1.4 CURRENCY 28
1.5 LIMITATIONS 28
1.6 MARKET STAKEHOLDERS 28
1.7 SUMMARY OF CHANGES 29

2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
FIGURE 1 RESEARCH DESIGN 30
2.1.1 SECONDARY DATA 31
2.1.1.1 Key data from secondary sources 31
2.1.2 PRIMARY DATA 31
2.1.2.1 Key data from primary sources 32
2.1.2.2 Key industry insights 33
2.1.2.3 Breakdown of primaries 33
2.2 MARKET SIZE ESTIMATION 34
FIGURE 2 PROCESS FLOW OF MARKET SIZE ESTIMATION 34
2.2.1 BOTTOM-UP APPROACH 34
2.2.1.1 Approach for capturing market share by bottom-up analysis (demand-side) 35
2.2.2 TOP-DOWN APPROACH 35
2.2.2.1 Approach for capturing market share by top-down analysis
(supply-side) 36
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 37
FIGURE 3 DATA TRIANGULATION 37
2.4 LIMITATIONS 38
TABLE 1 STUDY LIMITATIONS 38
2.5 RESEARCH ASSUMPTION 38
2.5.1 STUDY ASSUMPTIONS 38
TABLE 2 STUDY ASSUMPTIONS 38
_

3 EXECUTIVE SUMMARY 39
3.1 REPORT SUMMARY 39
3.2 VOLUME DATA 39
FIGURE 4 HARDWARE ENCRYPTION VOLUME ANALYSIS 39
FIGURE 5 IMPACT OF COVID-19 ON HARDWARE ENCRYPTION MARKET 40
FIGURE 6 HARDWARE ENCRYPTION MARKET, BY PRODUCT (USD MILLION) 41
FIGURE 7 HARDWARE ENCRYPTION MARKET, BY APPLICATION (USD MILLION) 41
FIGURE 8 HARDWARE ENCRYPTION MARKET, BY REGION 42

4 PREMIUM INSIGHTS 43
4.1 INCREASING AWARENESS REGARDING SECURITY OF CIRCUITRY AND DATA TO
ATTRACT MARKET FOR HARDWARE ENCRYPTED PRODUCTS 43
FIGURE 9 GROWING CONCERNS RELATED TO HARDWARE, SOFTWARE,
AND DATA TO CREATE DEMAND FOR HARDWARE ENCRYPTION MARKET DURING FORECAST PERIOD 43
4.2 HARDWARE ENCRYPTION MARKET, BY ARCHITECTURE 43
FIGURE 10 APPLICATION-SPECIFIC INTEGRATED CIRCUIT-BASED ENCRYPTION PRODUCTS TO DOMINATE HARDWARE ENCRYPTION MARKET IN 2020 43
4.3 HARDWARE ENCRYPTION MARKET IN NORTH AMERICA, BY APPLICATION 44
FIGURE 11 CONSUMER ELECTRONICS TO ACCOUNT FOR LARGEST SIZE OF
HARDWARE ENCRYPTION MARKET IN NORTH AMERICA, IN 2020 44
4.4 HARDWARE ENCRYPTION MARKET, BY REGION 44
FIGURE 12 HARDWARE ENCRYPTION MARKET IN APAC TO HOLD LARGEST
SHARE IN 2020 44

5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.2 MARKET DYNAMICS 45
FIGURE 13 HARDWARE ENCRYPTION MARKET: DRIVERS, RESTRAINTS,
OPPORTUNITIES, AND CHALLENGES 45
5.2.1 DRIVERS 46
5.2.1.1 Increasing apprehension over data security and confidentiality 46
5.2.1.2 Compliance with data privacy security regulations and standards 47
5.2.1.3 Development of digital content 47
5.2.2 RESTRAINTS 47
5.2.2.1 Heavy capital investments by stakeholders 48
5.2.3 OPPORTUNITIES 48
5.2.3.1 Extensive acceptance of cloud computing 48
5.2.3.2 Substantial development and growth of IoT in various industries 49
5.2.4 CHALLENGES 49
5.2.4.1 Deficiency in buyer responsiveness and awareness toward hardware encryption technology 50
5.2.4.2 Adoption of SED and TPM in current processors 50
_
5.3 INDUSTRY TRENDS 50
5.3.1 VALUE CHAIN ANALYSIS 50
FIGURE 14 VALUE CHAIN ANALYSIS: HARDWARE ENCRYPTION MARKET 51
5.4 HARDWARE ENCRYPTION MARKET ECOSYSTEM 51
FIGURE 15 HARDWARE ENCRYPTION MARKET: ECOSYSTEM 51
5.5 PORTER’S FIVE FORCES ANALYSIS 52
FIGURE 16 PORTER’S FIVE FORCES ANALYSIS 52
TABLE 3 PORTER’S FIVE FORCES ANALYSIS WITH THEIR WEIGHTAGE IMPACT 52
5.5.1 THREAT OF NEW ENTRANTS 53
5.5.2 THREAT OF SUBSTITUTES 53
5.5.3 BARGAINING POWER OF SUPPLIERS 54
5.5.4 BARGAINING POWER OF BUYERS 54
5.5.5 COMPETITIVE RIVALRY 55
5.6 TECHNOLOGY ANALYSIS 55
5.6.1 HARDWARE ENCRYPTION 55
5.6.2 SUBSTITUTE TECHNOLOGY 56
5.7 KEY INDUSTRY TRENDS 56
TABLE 4 MAJOR TRENDS IN HARDWARE ENCRYPTION MARKET 56
5.8 PRICING ANALYSIS 56
FIGURE 17 PRICING TREND OF HARD DISK DRIVES, SOLID-STATE DRIVES,
AND USB FLASH DRIVES (USD) 56
5.9 PATENT ANALYSIS 57
TABLE 5 IMPORTANT INNOVATIONS AND PATENTS REGISTRATION, 2012–2020 57
5.10 TRADE ANALYSIS 57
5.10.1 EXPORT SCENARIO OF ELECTRONICS-INTEGRATED CIRCUITS AND DISCS, TAPES, AND SOLID-STATE NON-VOLATILE STORAGE DEVICES 58
FIGURE 18 EXPORT OF ELECTRONICS-INTEGRATED CIRCUITS 58
FIGURE 19 EXPORT OF DISCS, TAPES, AND SOLID-STATE NON-VOLATILE
STORAGE DEVICES 58
5.10.2 IMPORT SCENARIO OF ELECTRONICS-INTEGRATED CIRCUITS AND DISCS, TAPES, AND SOLID-STATE NON-VOLATILE STORAGE DEVICES 59
FIGURE 20 IMPORT OF ELECTRONICS-INTEGRATED CIRCUITS 59
FIGURE 21 IMPORT OF DISCS, TAPES, AND SOLID-STATE NON-VOLATILE
STORAGE DEVICES 59
5.11 IMPORTANT REGULATIONS FOR HARDWARE ENCRYPTION MARKET 60
TABLE 6 LIST OF REGULATORY COMPLIANCES FOR DATA PROTECTION 60
5.12 COVID-19 IMPACT ANALYSIS 61
5.12.1 IMPACT ON VALUE CHAIN 61
5.12.1.1 Impact on market dynamics 61
5.12.1.2 Expected impact analysis 61
5.13 CASE STUDY ANALYSIS 62
5.13.1 FINANCIAL SYSTEMS 62
5.13.2 PENSIONS AND INVESTMENTS 62

6 ALGORITHMS AND STANDARDS RELATED TO HARDWARE ENCRYPTION 63
6.1 INTRODUCTION 63
6.2 ADVANCED ENCRYPTION STANDARD 63
6.3 RIVEST, SHAMIR, AND ADLEMAN ALGORITHM 64
6.4 OTHERS 64
6.4.1 DATA ENCRYPTION STANDARD 64
6.4.2 SECURE HASH ALGORITHMS 65
6.4.3 ELLIPTIC CURVE CRYPTOGRAPHY 65
6.4.4 DIGITAL SIGNATURE ALGORITHM 66

7 HARDWARE ENCRYPTION MARKET, BY ARCHITECTURE 67
7.1 INTRODUCTION 68
FIGURE 22 APPLICATION-SPECIFIC INTEGRATED CIRCUITS TO ACCOUNT FOR LARGE SIZE OF HARDWARE ENCRYPTION MARKET FROM 2020 TO 2025 68
TABLE 7 HARDWARE ENCRYPTION MARKET, BY ARCHITECTURE,
2017–2019 (USD MILLION) 69
TABLE 8 HARDWARE ENCRYPTION MARKET, BY ARCHITECTURE,
2020–2025 (USD MILLION) 69
7.2 FIELD-PROGRAMMABLE GATE ARRAYS 69
7.2.1 FLEXIBILITY AND AGILITY OF FPGA MAKES IT IDEAL FOR
HARDWARE ENCRYPTION APPLICATIONS 69
7.3 APPLICATION-SPECIFIC INTEGRATED CIRCUITS 70
7.3.1 ASIC CIRCUITS ARE DOMINANTLY USED IN INDUSTRIAL AND
COMMERCIAL APPLICATIONS 70

8 HARDWARE ENCRYPTION MARKET, BY PRODUCT 71
8.1 INTRODUCTION 72
FIGURE 23 INLINE NETWORK ENCRYPTION PRODUCT TO ACCOUNT FOR LARGEST SIZE OF HARDWARE ENCRYPTION MARKET FROM 2020 TO 2025 72
TABLE 9 HARDWARE ENCRYPTION MARKET, BY PRODUCT,
2017–2019 (USD MILLION) 72
TABLE 10 HARDWARE ENCRYPTION MARKET, BY PRODUCT,
2020–2025 (USD MILLION) 73
8.2 EXTERNAL HARD DISK DRIVE 73
8.2.1 CONVENIENCE AND PORTABILITY OF EXTERNAL HARD DISK DRIVE HAVE LED TO INCREASE IN DEMAND FOR HARDWARE ENCRYPTION 73
TABLE 11 HARDWARE ENCRYPTION MARKET FOR EXTERNAL HARD DISK DRIVE,
BY APPLICATION, 2017–2019 (USD MILLION) 73
TABLE 12 HARDWARE ENCRYPTION MARKET FOR EXTERNAL HARD DISK DRIVE,
BY APPLICATION, 2020–2025 (USD MILLION) 74
8.3 INTERNAL HARD DISK DRIVE 74
8.3.1 PERSONAL COMPUTERS AND LAPTOPS HAVE GAINED SIGNIFICANT DEMAND FOR INTERNAL HARD DISK DRIVES 74
TABLE 13 HARDWARE ENCRYPTION MARKET FOR INTERNAL HARD DISK DRIVE,
BY APPLICATION, 2017–2019 (USD MILLION) 75
TABLE 14 HARDWARE ENCRYPTION MARKET FOR INTERNAL HARD DISK DRIVE,
BY APPLICATION, 2020–2025 (USD MILLION) 75
8.4 SOLID-STATE DRIVE 75
8.4.1 ADVANCED SED FEATURE HELPS GROWTH OF SOLID-STATE DRIVE MARKET 75
TABLE 15 HARDWARE ENCRYPTION MARKET FOR SOLID-STATE DRIVE,
BY APPLICATION, 2017–2019 (USD MILLION) 76
TABLE 16 HARDWARE ENCRYPTION MARKET FOR SOLID-STATE DRIVE,
BY APPLICATION, 2020–2025 (USD MILLION) 76
8.5 INLINE NETWORK ENCRYPTOR 77
8.5.1 APPLICATIONS SUCH AS AEROSPACE AND DEFENSE AND IT & TELECOM REQUIRE INLINE NETWORK ENCRYPT OR PRODUCTS FOR STORING CONFIDENTIAL COMMUNICATION DATA 77
TABLE 17 HARDWARE ENCRYPTION MARKET FOR INLINE NETWORK ENCRYPTOR,
BY APPLICATION, 2017–2019 (USD MILLION) 77
TABLE 18 HARDWARE ENCRYPTION MARKET FOR INLINE NETWORK ENCRYPTOR,
BY APPLICATION, 2020–2025 (USD MILLION) 77
8.6 USB FLASH DRIVE 78
8.6.1 PORTABILITY AND CONVENIENCE MAKE USB FLASH DRIVE RELIABLE SOURCE FOR ENCRYPTING DATA 78
TABLE 19 HARDWARE ENCRYPTION MARKET FOR USB FLASH DRIVE, BY APPLICATION, 2017–2019 (USD MILLION) 78
TABLE 20 HARDWARE ENCRYPTION MARKET FOR USB FLASH DRIVE, BY APPLICATION, 2020–2025 (USD MILLION) 79
9 HARDWARE ENCRYPTION MARKET, BY APPLICATION 80
9.1 INTRODUCTION 81
FIGURE 24 CONSUMER ELECTRONICS APPLICATION TO RECORD LARGEST MARKET SHARE OF HARDWARE ENCRYPTION MARKET DURING
2020–2025 (USD MILLION) 81
TABLE 21 HARDWARE ENCRYPTION MARKET, BY APPLICATION,
2017–2019 (USD MILLION) 81
TABLE 22 HARDWARE ENCRYPTION MARKET, BY APPLICATION,
2020–2025 (USD MILLION) 82
9.2 CONSUMER ELECTRONICS 82
9.2.1 GROWING SECURITY CONCERNS LEADING TO ADOPTION OF ENCRYPTION IN CONSUMER ELECTRONICS AND PRODUCTS 82
TABLE 23 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2017–2019 (USD MILLION) 83
TABLE 24 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2020–2025 (USD MILLION) 83
TABLE 25 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN
NORTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 83
TABLE 26 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN
NORTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 84
TABLE 27 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN EUROPE, BY COUNTRY, 2017–2019 (USD MILLION) 84
TABLE 28 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION) 84
TABLE 29 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN APAC, BY COUNTRY, 2017–2019 (USD THOUSAND) 85
TABLE 30 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN APAC, BY COUNTRY, 2020–2025 (USD THOUSAND) 85
TABLE 31 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN ROW, BY REGION, 2017–2019 (USD MILLION) 85
TABLE 32 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN ROW, BY REGION, 2020–2025 (USD MILLION) 86
TABLE 33 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN
SOUTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 86
TABLE 34 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN
SOUTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 86
TABLE 35 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 86
TABLE 36 HARDWARE ENCRYPTION MARKET FOR CONSUMER ELECTRONICS IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 87
9.3 IT & TELECOM 87
9.3.1 ADVANCEMENTS IN IT & TELECOM APPLICATIONS REQUIRE HARDWARE ENCRYPTION AS NECESSARY SAFETY MEASURE 87
TABLE 37 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM, BY REGION,
2017–2019 (USD MILLION) 88
TABLE 38 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM, BY REGION,
2020–2025 (USD MILLION) 88
TABLE 39 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN NORTH AMERICA, BY COUNTRY, 2017–2019 (USD MILLION) 88
TABLE 40 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 89
TABLE 41 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN EUROPE,
BY COUNTRY, 2017–2019 (USD THOUSAND) 89
TABLE 42 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN EUROPE,
BY COUNTRY, 2020–2025 (USD THOUSAND) 89
TABLE 43 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN APAC, BY COUNTRY, 2017–2019 (USD THOUSAND) 90
TABLE 44 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN APAC, BY COUNTRY, 2020–2025 (USD THOUSAND) 90
TABLE 45 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN ROW, BY REGION, 2017–2019 (USD THOUSAND) 90
TABLE 46 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN ROW, BY REGION, 2020–2025 (USD THOUSAND) 91
TABLE 47 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN SOUTH AMERICA,
BY COUNTRY, 2017–2019 (USD THOUSAND) 91
TABLE 48 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN SOUTH AMERICA,
BY COUNTRY, 2020–2025 (USD THOUSAND) 91
TABLE 49 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 91
TABLE 50 HARDWARE ENCRYPTION MARKET FOR IT & TELECOM IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 92
_
9.4 TRANSPORTATION 92
9.4.1 PORTABLE ENCRYPTION PRODUCTS TO MAKE PROCESSES EASY FOR TRANSPORTATION APPLICATIONS 92
TABLE 51 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION, BY REGION, 2017–2019 (USD THOUSAND) 93
TABLE 52 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION, BY REGION, 2020–2025 (USD THOUSAND) 93
TABLE 53 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN
NORTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 93
TABLE 54 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN
NORTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 93
TABLE 55 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN EUROPE,
BY COUNTRY, 2017–2019 (USD THOUSAND) 94
TABLE 56 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN EUROPE,
BY COUNTRY, 2020–2025 (USD THOUSAND) 94
TABLE 57 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN APAC,
BY COUNTRY, 2017–2019 (USD THOUSAND) 94
TABLE 58 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN APAC,
BY COUNTRY, 2020–2025 (USD THOUSAND) 95
TABLE 59 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN ROW,
BY REGION, 2017–2019 (USD THOUSAND) 95
TABLE 60 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN ROW,
BY REGION, 2020–2025 (USD THOUSAND) 95
TABLE 61 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN
SOUTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 96
TABLE 62 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN
SOUTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 96
TABLE 63 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 96
TABLE 64 HARDWARE ENCRYPTION MARKET FOR TRANSPORTATION IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 97
9.5 AEROSPACE & DEFENSE 97
9.5.1 NEED TO PROTECT DATA AND HAVE SECURE COMMUNICATION IN AEROSPACE REQUIRE HARDWARE ENCRYPTION PRODUCTS 97
TABLE 65 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE,
BY REGION, 2017–2019 (USD MILLION) 98
TABLE 66 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE,
BY REGION, 2020–2025 (USD MILLION) 98
TABLE 67 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN
NORTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 98
TABLE 68 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN
NORTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 99
TABLE 69 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN EUROPE, BY COUNTRY, 2017–2019 (USD THOUSAND) 99
TABLE 70 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN EUROPE, BY COUNTRY, 2020–2025 (USD THOUSAND) 99
TABLE 71 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN APAC, BY COUNTRY, 2017–2019 (USD THOUSAND) 100
TABLE 72 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN APAC, BY COUNTRY, 2020–2025 (USD THOUSAND) 100
TABLE 73 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN ROW, BY REGION, 2017–2019 (USD THOUSAND) 100
TABLE 74 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN ROW, BY REGION, 2020–2025 (USD THOUSAND) 100
TABLE 75 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN
SOUTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 101
TABLE 76 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN
SOUTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 101
TABLE 77 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 101
TABLE 78 HARDWARE ENCRYPTION MARKET FOR AEROSPACE AND DEFENSE IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 101
9.6 HEALTHCARE 102
9.6.1 HEALTHCARE INSTITUTIONS REQUIRE PORTABLE HARDWARE ENCRYPTED DEVICES FOR EASY MOVEMENT TO VARIOUS LOCATIONS 102
TABLE 79 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE APPLICATION,
BY REGION, 2017–2019 (USD MILLION) 102
TABLE 80 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE APPLICATION,
BY REGION, 2020–2025 (USD MILLION) 103
TABLE 81 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN NORTH AMERICA,
BY COUNTRY, 2017–2019 (USD MILLION) 103
TABLE 82 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN NORTH AMERICA,
BY COUNTRY, 2020–2025 (USD MILLION) 103
TABLE 83 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN EUROPE,
BY COUNTRY, 2017–2019 (USD THOUSAND) 104
TABLE 84 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN EUROPE,
BY COUNTRY, 2020–2025 (USD THOUSAND) 104
TABLE 85 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN APAC, BY COUNTRY, 2017–2019 (USD THOUSAND) 104
TABLE 86 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN APAC, BY COUNTRY, 2020–2025 (USD THOUSAND) 105
TABLE 87 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN ROW, BY REGION, 2017–2019 (USD THOUSAND) 105
TABLE 88 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN ROW, BY REGION, 2020–2025 (USD THOUSAND) 105
TABLE 89 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN SOUTH AMERICA,
BY COUNTRY, 2017–2019 (USD THOUSAND) 105
TABLE 90 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN SOUTH AMERICA,
BY COUNTRY, 2020–2025 (USD THOUSAND) 106
TABLE 91 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 106
TABLE 92 HARDWARE ENCRYPTION MARKET FOR HEALTHCARE IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 106
9.7 OTHERS 107
9.7.1 BANKING AND RETAIL APPLICATION TO EMERGE AS NEW REVENUE POCKETS FOR HARDWARE ENCRYPTION 107
TABLE 93 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2019 (USD THOUSAND) 107
TABLE 94 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS, BY REGION, 2020–2025 (USD THOUSAND) 108
TABLE 95 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
NORTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 108
TABLE 96 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
NORTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 108
TABLE 97 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN EUROPE,
BY COUNTRY, 2017–2019 (USD THOUSAND) 109
TABLE 98 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN EUROPE,
BY COUNTRY, 2020–2025 (USD THOUSAND) 109
TABLE 99 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN APAC,
BY COUNTRY, 2017–2019 (USD THOUSAND) 109
TABLE 100 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN APAC,
BY COUNTRY, 2020–2025 (USD THOUSAND) 110
TABLE 101 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN ROW,
BY REGION, 2017–2019 (USD THOUSAND) 110
TABLE 102 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN ROW,
BY REGION, 2020–2025 (USD THOUSAND) 110
TABLE 103 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
SOUTH AMERICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 110
TABLE 104 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
SOUTH AMERICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 111
TABLE 105 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
MIDDLE EAST & AFRICA, BY COUNTRY, 2017–2019 (USD THOUSAND) 111
TABLE 106 HARDWARE ENCRYPTION MARKET FOR OTHER APPLICATIONS IN
MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2025 (USD THOUSAND) 111

10 GEOGRAPHIC ANALYSIS 112
10.1 INTRODUCTION 113
FIGURE 25 GEOGRAPHICAL SNAPSHOT: HARDWARE ENCRYPTION MARKET 113
TABLE 107 HARDWARE ENCRYPTION MARKET, BY REGION, 2017–2019 (USD MILLION) 113
TABLE 108 HARDWARE ENCRYPTION MARKET, BY REGION, 2020–2025 (USD MILLION) 114
10.2 NORTH AMERICA 114
FIGURE 26 SNAPSHOT: HARDWARE ENCRYPTION MARKET IN NORTH AMERICA 115
TABLE 109 HARDWARE ENCRYPTION MARKET IN NORTH AMERICA, BY COUNTRY,
2017–2019 (USD MILLION) 115
TABLE 110 HARDWARE ENCRYPTION MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2025 (USD MILLION) 116
10.2.1 US 116
10.2.1.1 Rising demand for hardware encryption-enabled products in
US to ensure data security 116
10.2.2 CANADA 116
10.2.2.1 Surging number of immigrants from various geographies
reaching Canada to avail technical opportunities fuels demand for hardware encryption 116
_
10.2.3 MEXICO 117
10.2.3.1 Increasing focus on manufacturing aircraft components, automobiles, and consumer electronics lead to growth of hardware encryption market in Mexico 117
10.3 EUROPE 117
FIGURE 27 SNAPSHOT: HARDWARE ENCRYPTION MARKET IN EUROPE 118
TABLE 111 HARDWARE ENCRYPTION MARKET IN EUROPE, BY COUNTRY,
2017–2019 (USD MILLION) 119
TABLE 112 HARDWARE ENCRYPTION MARKET IN EUROPE, BY COUNTRY,
2020–2025 (USD MILLION) 119
10.3.1 UK 119
10.3.1.1 Rising installation of data storage systems to generate new revenue pockets for hardware encryption providers in UK 119
10.3.2 GERMANY 120
10.3.2.1 Surging demand for hardware encryption in components used for developing automobiles in Germany 120
10.3.3 FRANCE 120
10.3.3.1 Flourishing telecommunication sector to emerge as new revenue pocket for hardware encryption providers in France 120
10.3.4 ITALY 120
10.3.4.1 Growing manufacturing sector to accelerate demand for hardware encryption products in Italy 120
10.3.5 NETHERLANDS 121
10.3.5.1 Surging adoption of electric vehicles to increase demand for hardware encryption products in Netherlands 121
10.3.6 REST OF EUROPE 121
10.4 APAC 121
FIGURE 28 SNAPSHOT: HARDWARE ENCRYPTION MARKET IN APAC 122
TABLE 113 HARDWARE ENCRYPTION MARKET IN APAC, BY COUNTRY,
2017–2019 (USD MILLION) 122
TABLE 114 HARDWARE ENCRYPTION MARKET IN APAC, BY COUNTRY,
2020–2025 (USD MILLION) 123
10.4.1 CHINA 123
10.4.1.1 Growing demand for encryption products related to
smartphones and tablets 123
10.4.2 JAPAN 123
10.4.2.1 Rising adoption of technologically-advanced commodities fuels demand for encryption products in Japan 123
10.4.3 SOUTH KOREA 124
10.4.3.1 Flourishing consumer electronics and automobiles industries contribute to growth of hardware encryption market in South Korea 124
10.4.4 INDIA 124
10.4.4.1 Growing adoption of cloud computing to fuel demand for
encryption-enabled solutions in India 124
10.4.5 REST OF APAC 124
_
10.5 ROW 125
FIGURE 29 SNAPSHOT: HARDWARE ENCRYPTION MARKET IN ROW 125
TABLE 115 HARDWARE ENCRYPTION MARKET IN ROW, BY REGION,
2017–2019 (USD MILLION) 125
TABLE 116 HARDWARE ENCRYPTION MARKET IN ROW, BY REGION,
2020–2025 (USD MILLION) 126
10.5.1 MIDDLE EAST AND AFRICA 126
10.5.1.1 Rising demand for storage products in Middle East and Africa to create demand for hardware encryption-enabled products 126
10.5.2 SOUTH AMERICA 126
10.5.2.1 Aerospace and defense industry to create opportunities for
hardware encryption market 126

11 COMPETITIVE LANDSCAPE 127
11.1 OVERVIEW 127
FIGURE 30 PRODUCT LAUNCHES EMERGED AS KEY STRATEGIES ADOPTED BY MARKET PLAYERS FROM JANUARY 2017 TO JUNE 2020 127
11.2 MARKET SHARE AND RANKING ANALYSIS OF KEY COMPANIES, 2019 128
TABLE 117 HARDWARE ENCRYPTION MARKET: MARKET SHARE IN 2019 128
11.3 FIVE YEAR REVENUE ANALYSIS OF MAJOR PLAYERS IN HARDWARE ENCRYPTION MARKET 130
FIGURE 31 HARDWARE ENCRYPTION MARKET: FIVE YEAR REVENUE SNAPSHOT OF MAJOR PLAYERS (USD MILLION) 130
11.4 COMPANY EVALUATION MATRIX (2019) 130
11.4.1 STAR 130
11.4.2 EMERGING LEADER 130
11.4.3 PERVASIVE 130
11.4.4 PARTICIPANT 130
FIGURE 32 HARDWARE ENCRYPTION MARKET, COMPANY EVALUATION MATRIX (2019) 131
11.5 STARTUP/SME EVALUATION MATRIX (2019) 132
11.5.1 PROGRESSIVE COMPANIES 132
11.5.2 RESPONSIVE COMPANIES 132
11.5.3 DYNAMIC COMPANIES 132
11.5.4 STARTING BLOCKS 132
FIGURE 33 HARDWARE ENCRYPTION MARKET, START-UP/SME EVALUATION
MATRIX (2019) 133
11.6 COMPETITIVE SITUATIONS AND TRENDS 133
TABLE 118 PRODUCT LAUNCHES, APRIL 2019 AND JUNE 2020 134
11.6.1 DEALS 136
TABLE 119 DEALS, APRIL 2019 AND NOVEMBER 2020 136
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12 COMPANY PROFILES 138
12.1 INTRODUCTION 138
12.2 KEY PLAYERS 138
(Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.2.1 WESTERN DIGITAL CORP. 138
FIGURE 34 WESTERN DIGITAL: COMPANY SNAPSHOT 139
12.2.2 SAMSUNG 142
FIGURE 35 SAMSUNG: COMPANY SNAPSHOT 142
12.2.3 MICRON 145
FIGURE 36 MICRON: COMPANY SNAPSHOT 145
12.2.4 KINGSTON TECHNOLOGY CORP. 149
12.2.5 SEAGATE TECHNOLOGY PLC 152
FIGURE 37 SEAGATE TECHNOLOGY PLC: COMPANY SNAPSHOT 152
12.2.6 NETAPP 155
FIGURE 38 NETAPP: COMPANY SNAPSHOT 155
12.2.7 KIOXIA HOLDINGS CORPORATION 156
FIGURE 39 KIOXIA CORP.: COMPANY SNAPSHOT 156
12.2.8 KANGURU SOLUTIONS 159
12.2.9 INTEL 161
FIGURE 40 INTEL: COMPANY SNAPSHOT 161
12.2.10 WINMAGIC INC. 163
12.2.11 MAXIM INTEGRATED PRODUCTS, INC. 165
FIGURE 41 MAXIM INTEGRATED PRODUCTS, INC.: COMPANY SNAPSHOT 165
12.2.12 THALES E-SECURITY 167
FIGURE 42 THALES E-SECURITY: COMPANY SNAPSHOT 167
12.2.13 MCAFEE 169
12.2.14 BROADCOM 170
FIGURE 43 BROADCOM: COMPANY SNAPSHOT 170
12.2.15 IBM 172
FIGURE 44 IBM CORPORATION: COMPANY SNAPSHOT 172
*Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
12.3 OTHER COMPANIES 174
12.3.1 MICRO FOCUS 174
12.3.2 GIESECKE+DEVRIENT (G+D) 175
12.3.3 IDEMIA 176
12.3.4 NXP 177
12.3.5 INFENION 177
12.3.6 CHECK POINT 178
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12.3.7 SOPHOS 178
12.3.8 ESET 179
12.3.9 TREND MICRO 179
13 APPENDIX 180
13.1 INSIGHTS OF INDUSTRY EXPERTS 180
13.2 DISCUSSION GUIDE 181
13.4 AVAILABLE CUSTOMIZATIONS 186
13.5 RELATED REPORTS 186
13.6 AUTHOR DETAILS 187