Hardware Encryption Market Size, Share and Industry Growth to 2027

The growth of mobile devices also poses a challenge to data security as there is an increase in a number of cyber thefts. Organisation need to securely encrypt their network in order to avoid any such data theft. Many organisations adopt software based encryption but hardware encryption has some unique advantages once implemented.

Hardware-based encryption is a self-contained software and doesn't need any additional software which uses a device to perform encryption and decryption which is therefore free from malware or viruses attacks.

Organisations adopt Hardware encryption as no additional drivers need to be loaded so it can be configure in little time and also perform with minimum user interaction.

Hardware encryption market is expected to grow as it is best suited for sensitive data protection in financial, healthcare and government sectors.

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Global Hardware Encryption Market drivers

The major driver for adopting hardware encryption by many organisations to protect valuable information from data breaches and cyber thefts.

The financial institutions are adopting hardware encryption in order to refrain from financial fraud during its banking operations.

The other major driver for adoption of Hardware-based encryption by many organisations as it offers stronger resilience and many hackers won't be able to attack hardware encrypted system as crypto module used will shut down the system automatically if an attempt occur for password cracking.

The growth in technology in manufacturing portable and mobile devices also fuel the market growth of hardware encryption.

As some government also regulate the organisations with which they work prescribe a standard set of rules in order to implement hardware encryption for sensitive data which show a positive impact in market growth of hardware encryption.

The major drawback of hardware based encryption solution providers is cost of hardware and updates of the hardware is only possible through device substitution.

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Global Hardware Encryption Market Overview

Majority of the Hardware Encryption market is dominated by Asia pacific region due to expansion of IT and telecommunication services and followed by North America and Europe. North America region is also expected to significant growth during the forecast period.

Global Hardware Encryption Market Key Market Players

Some of the key players in Global Hardware Encryption Market include Seagate Technology LLC, Hitachi ID Systems, Inc., Western Digital Corporation, Samsung, Toshiba Corporation, Micron Technology and Kingston Technology Corporation.

Regional analysis for global Hardware Encryption Market includes development of these technologies in the following regions

North America
US
Canada
Latin America
Argentina
Mexico
Brazil
Rest of Latin America
Europe
Western Europe
Germany
France
U.K
Italy
Spain
Nordics
Benelux
Rest of the Western Europe
Eastern Europe
Poland
Russia
Asia Pacific
Australia and New Zealand (A&NZ)
China
India
ASEAN
Rest of Asia Pacific
Japan
The Middle East and Africa
GCC Countries
North Africa
South Africa
Rest of MEA

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The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Global Hardware Encryption Market: Segmentation

Global Hardware Encryption market is segmented based on product type, by vertical, by region.

On the basis of the product type Global Hardware Encryption market is segmented to

Hard Disk Drives
Solid-State Drives
USB Flash Drives
others
The global hardware encryption market on the basis of vertical is segmented to

media and entertainment sector
BFSI
healthcare sector
transportation
public sector
manufacturing sector
retail sector
IT & Telecom sector
energy & utilities
others
On basis of region global hardware encryption market is segmented into

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East and Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

This release was published on openPR.