Hardware Encryption Market 2021 Business Scenario – IBM Corporation, Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Samsung Electronics Co.

The primary reasons for this rise in demand are the increasing demand for smartphones, online and digital content which is attracting the market for hardware encryption products and solutions. The emergence of portable storage devices to transfer files between computers and to backup important information is expected to favorably impact hardware encryption market growth.

The global hardware encryption market was pegged at $109.24 billion in 2018 and is estimated to hit $903.56 billion by 2026, registering a CAGR of 30.3% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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Imposition of regulatory compliances regarding protection of private & sensitive data, decline in prices of hardware encryption devices, upsurge in penetration of consumer electronics such as smartphones and tablets, and increase in complexity & risk of data breaches & brute-force attacks fuel the growth of the global hardware encryption market. By architecture, the ASIC segment held the major share in 2018. By region, on the other hand, Asia-Pacific would remain lucrative throughout the forecast period.

The global hardware encryption market is analyzed across algorithm & standard, architecture, product, application, end-use, and region. Based on the algorithm & standard, the RSA segment contributed to nearly half of the total market share in 2018 and is expected to dominate by the end of 2026. At the same time, the AES segment would grow at the fastest CAGR of 33.0% throughout the forecast period.

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Based on architecture, the ASIC segment accounted for nearly two-thirds of the total market revenue in 2018 and is anticipated to lead the trail till 2026. The FPGA segment, on the other hand, would register the fastest CAGR of 31.9% from 2019 to 2026.

The leading market players analyzed in the global hardware encryption market report include Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Samsung Electronics Co., Ltd., Western Digital Technologies, Inc., International Business Machines (IBM) Corporation, Symantec Corporation, Seagate Technology LLC, and Toshiba Corporation. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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Based on geography, Asia-Pacific garnered the highest share in 2018, holding nearly two-fifths of the global hardware encryption market. The same region would also portray the fastest CAGR of 33.2% by 2026. The other provinces covered in the report include North America, Europe, and LAMEA.

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