Hardware Encryption Market 2018 Global Key Players Analysis: Kingston Technology, Kanguru Solutions, NetApp, Win Magic, Western Digital, Micron Technology, Thales e-security

Market Research Future published a research report on “Hardware Encryption Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Hardware encryption is a technology that encrypts the data stored on a hard drive using sophisticated mathematical functions. Data on an encrypted hard drive cannot be read by anyone who does not have access to the appropriate key or password. This can help prevent access to data by unauthorized entities and provides a layer of security against hackers and other online threats. The concept of hard-drive encryption is simple enough. When a file is written to the drive, it is automatically encrypted by specialized software. When a file is read from the drive, the software automatically decrypts it while leaving all other data on the drive encrypted. The encryption and decryption processes are transparent to all common applications such as word processors, databases, spreadsheets or imaging programs.

Increasing complexity & volume of data breaches and reduced cost of encryption are major drivers boosting the growth of Hardware Encryption Market. In addition, several advantages offered by hardware encryption in comparison with software encryption technology and the rising need of regulatory framework are some of the other factors estimated to accelerate the growth of the overall market in the near future.

In August 2017, Spyrus Inc. announced the development of a secure environment for Security in a Box ® Secure Storage SDK with FIPS 140-2 Level 3 encrypted storage devices. SPYRUS storage products meet the needs of securing mission critical end points and data collection devices in the Internet of Things (IoT). Other uses are mission data storage for UAVs, wearable and in-vehicle cameras, power grids, homeland security and much more.

The global hardware encryption market is expected to grow at 22% CAGR through the forecast period.

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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 - Competitive Analysis

The Market of hardware encryption appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of hardware encryption market are targeting to invest more in technology and research and development activities to innovate their already existing technology.

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.

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Intended Audience

• Banking
• Hardware Manufacturers
• Testing
• R&D

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