The hardware encryption market is expected to be valued at USD 262 million in 2020 and reach USD 313 million by 2025, growing at a CAGR of 3.6%. Some of the factors such as an increase in the penetration of internet users and the growing adoption of digital content are the drivers for the growth of the hardware encryption market
“Hardware encryption market for inline network encryptor product to share the largest market share in 2019”
The inline network encryptor segment accounted for the largest size of the hardware encryption market in 2019. The commercialization of the internet of things has led to surged demand for inline network encryptor globally. Moreover, the increase in digital content has led to the growth in the procurement of inline network encryptors for the encryption of data at various levels.
“Hardware encryption market for consumer electronics application to share the largest market share in 2019”
The hardware encryption market for consumer electronics application is expected to grow at the highest CAGR during the forecast period considering the demand for security and safety of data which is stored in these devices and is even sent to others. Encryption has enabled a sense of satisfaction for the customers as their data is stored at various levels of encryption.
“APAC region is accounted for the largest share in 2020 and further in the forecast period.”
The hardware encryption market in APAC region is projected to share the largest market share during the forecast period. The highest CAGR is because of the huge population, which is technology-savvy and is demanding encryption enabled products. The numerous electronics and semiconductor manufacturing companies in the region create demand for these products for their internal applications and for installing hardware encryption in their products.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 – 60 %, Tier 2 – 25%, and Tier 3 – 15%
- By Designation: C-level Executives – 50%, Directors - 30%, and Others -20%
- By Region: APAC – 40 %, NA – 25%, Europe – 20%, and RoW – 15%
The major players profiled in this report include:
- Western Digital Corp. (US)
- Samsung Electronics Co. Ltd. (South Korea)
- Micron Technology Inc. (US)
- NetApp (US)
- Kingston Technology Corp. (US)
- Seagate Technology PLC (Ireland)
- KIOXIA (Japan)
- Kanguru Solutions (US)
- Intel (US), WinMagic Inc. (US)
- Maxim Integrated Products, Inc. (US)
- Thales e-Security (US)
- Mcafee (US)
- Broadcom (US)
- IBM (US)
The study segments the hardware encryption market report into architecture type (FPGA and ASIC), by product type (External HDD, Internal HDD, SSD, Inline network encryptor and USB flash drive) and by application (consumer electronics, IT & Telecom, transportation, healthcare, aerospace and defense and others) The study also provides market size for various segments regarding global regions.
Reasons To Buy the report
The report would help the market leaders/new entrants in this market in the following ways:
- This report segments the hardware encryption market comprehensively provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
- The report provides a detailed analysis of the hardware encryption market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.
- The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers & acquisitions in the hardware encryption market.