The Europe hardware encryption market is evaluated to garner a CAGR of 23.56%, during the forecast years of 2019 to 2028. Key factors driving the market growth include the increased awareness about the advantages of data security, the surging adoption of encrypted devices within the healthcare division, and the emergence of bring-your-own-devices (BYOD) trend.
The Europe hardware encryption market growth is analyzed through France, Poland, the United Kingdom, Germany, Russia, Italy, Belgium, and the rest of Europe. Germany is establishing itself as a technically independent nation, in terms of cybersecurity. According to which, the country declared the launch of a new cybersecurity research agency in 2018, facilitated by an investment of EUR 200 million, over the upcoming years. Moreover, cyber-attacks in Germany are constantly increasing, due to the growing number of connected devices. For instance, the country’s government was cyber-attacked in March 2018, during which personal data loss was reported, and documents from over hundreds of politicians and public figures were published online. In what appeared to be one of the country’s most extensive data breaches, even Chancellor Angela Merkel’s data were compromised.
In France, major reforms associated with cybersecurity regulations have been introduced. For example, the country’s telecommunication enterprises can scan their networks for technical cues of expected or on-going cyber-attacks. Moreover, in some cases, telecom companies are also required to inform their customers regarding unwanted cyber threats. Additionally, France’s surging information technology (IT) and telecom industry are further augmenting the demand for encryption hardware in the country.
Renowned companies in the market are Western Digital Technologies Inc, Certes Networks Inc, Seagate Technology LLC, McAfee LLC, Micron Technology Inc, etc.
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