Hardware Encryption Market Analysis Revealing Key Drivers & Growth Trends through 2020 | IBM Corporation, Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp

In the current scenario, factors such as reduced cost differences between hardware encrypted and non-hardware encrypted products and surge innumber & complexity of data breaches are the key factors driving the growth of the global hardware encryption market. Some of the restraints associated with market are lack of awareness among the users and limited use of encrypted drives in some of the countries. Several encrypted hardware vendors and manufacturers are aiming at developing encrypted keys at reduced prices customized according to the specifications of the end consumers, which is opportunistic for the market.

Encryption is the process of scrambling sensitive information that is only readable by the intended recipient. Encryption is mainly performed by hardware or software devices using a series of algorithm or mathematical operations for generating the cypher text or the encrypted data. The recipient for whom the message is encrypted must have an electronic key for decrypting the data using a similar device further converting the data to its original readable form known as the clear text. This process of hardware encryption involves file being written in the drive that is further encrypted automatically using specialized software. After this as the file is read from the drive, there is a special software that automatically decrypts it further making it understandable by the recipient and functioning as any other normal computer.

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The hardware encryption market size was valued at $109.24 billion in 2018, and is projected to reach $903.56 billion by 2026, growing at a CAGR of 30.3% from 2019 to 2026.

Some of the key market players profiled in the report includeInternational Business Machines (IBM) Corporation, Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Samsung Electronics Co., Ltd., Seagate Technology LLC, Symantec Corporation, Toshiba Corporation, and Western Digital Technologies, Inc.This study includes hardware encryption markettrends, analysis,and future estimations to determine the imminent investment pockets.

The hard disk drive (HDD)segment dominated the hardware encryption market share in 2018, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to factors such as rise in popularity of social media, large number of mobile users, rise in penetration of next-generation connected devices, and increase in need for high-capacity storage devices.However, the solid-state drives (SSD) segment is expected to witness highest growth in the upcoming years.

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On the basis of architecture, the ASIC segment dominated the overall hardware encryption market in 2018, and is expected to continue this trend during the forecast period. This is attributed to rise in demand for ASIC in the consumer electronics industry, due to low cost of implementation. However, the FPGA segment is expected to witness highest growth, due to increase in popularity of FPGA algorithms, owing to low cost, enhanced flexibility, long-term maintenance, and fast time to market.

Depending on algorithm & standard, the RSAsegment dominated the overall hardware encryption market in2018, and is expected to continue this trendduring the forecast period. This isattributed to increase in use of RSA algorithm to secure the communication between e-commerce sites and web browsers, as these online businesses deal with sensitive data of their customers.However, the AESsegment is expected to witness highest growth rate, due to wide acceptance of advanced encryption standard as a highly secure and fast algorithm for encryption.

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CHAPTER 1:INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.RESEARCH METHODOLOGY

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.KEY FINDINGS

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO PERSPECTIVE

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