Press release
Hardware Encryption Market is expected to reach USD 1,085 billion by 2024 | Key players are Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), IBM (The U.S.), Kingston Technology Corporation (The U.S.).
Hardware Encryption Market was valued at USD 52.45 billion in 2016 and projected to reach USD 1,085 billion by 2024 growing at a CAGR of 46.3% during the forecast period 2018 to 2024.
Hardware Encryption Market Overview:
Encryption is mainly done by hardware or software devices that use a series of algorithms or mathematical operations to generate encrypted text or encrypted data. The recipient for whom the message is encrypted must have an electronic key to decrypt the data using a similar device, then convert the data into its original readable form. This hardware encryption process means that the file is written to the unit and then encrypted automatically using specialized software. Hardware encryption as a technology prevents unauthorized persons from accessing the data, which provides an additional layer of security against hackers or online threats.
Browse details of 152 number of pages research report developed on Hardware Encryption Market @ https://www.researchcosmos.com/reports/global-hardware-encryption-market-analysis-by-usage-storage-device-network-by-application-hea/1400395182
Hardware Encryption Market Growth Drivers and Restraints:
The optimization of the encryption function with the rest of the readers is one of the main drivers of growth in this market. The use of software encryption involves many steps that are avoided in the hardware encryption that speeds up the process in its entirety, leading to the multiplication of its applications worldwide. Another important factor in the growth of this market is the activation at all times of this hardware encryption, which facilitates the driver to comply with different government standards, particularly in applications of the service sector such as banking and finances. This system also requires minimal configuration and interaction with users without affecting the overall performance of the system. This is particularly useful in the case of protecting confidential data without fear of hackers being compromised or stolen. After taking all these factors into account, certain restrictions also have a negative impact on the entire market.
Geographic Insights of Hardware Encryption Market:
Geographically, North America, followed by Europe, is one of the main contributors to the overall growth of this market. The arrival of cloud services and the growth of IoT technology have also contributed to some important factors that contribute to growth. Asia Pacific is one of the fastest growing regions in the world. China, Korea, India and Japan are among the main contributors to the regional growth. The growing penetration of the Internet, as well as the growing demand for smartphones and tablets, has also contributed significantly to growth.
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Key Market Players of Hardware Encryption Market:
Toshiba Corporation (Japan), Maxim Integrated Products Inc. (The U.S.), Samsung Electronics Co. Ltd. (South Korea), IBM (The U.S.), Kingston Technology Corporation (The U.S.), Seagate Technology PLC (Ireland), Micron Technology Inc. (The U.S.), Western Digital Corporation (The U.S.) are the major players in this market.
Hardware Encryption Market Key Segmentation:
By End User:
• Industrial and Commercial
• Residential
• Government Agencies
By Usage:
• Storage Device
• Network
By Application:
• Healthcare Sector
• Military & Aerospace
• Automotive & Transportation
• BFSI
• IT & Telecom
• Others (Retail, Education, Individual User)
By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa
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Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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Research Cosmos
www.researchcosmos.com
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