Hardware Encryption Market 2018 Global Key Players: Win Magic, NetApp, Kanguru Solutions, Micron Technology, Kingston Technology, Western Digital, Toshiba, Samsung Electronics

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.

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

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.).

Regional Analysis:

The competitive landscape of global hardware encryption market is formed by major players of the market and some of the new entrants. The hardware encryption has driven many areas like BFSI, military & aerospace, healthcare, IT & Telecom. North America leads the market for the global hardware encryption. Many technical advancements were been observed from this region. Western Digital Corporation, an American computer data storage company, revealed its new product My Book Duo external hard drive. The hard drive features 20 TB storage in Raid zero and one configuration, USB-C and USB-A ports. My Book offers sequential read speeds of 360 MB per second. My Book allows for redundancy and reduces the risk of data loss. Secured with 256-bit AES hardware encryption, the drive lets users set a password to activate the hardware data encryption and data protection. The drive serves the need of data storage for home users, businesses and creative professionals such as video and photo producers and editors.

In May 2017, RigNet, Inc. completed their acquisition of Cyphre Security Solutions that provides the most advanced enterprise data protection available in the market today. In 2016, the world leader in memory products Kingston Digital, Inc. acquired the USB technology and assets of IronKey™ from Imation Corp.

Asia Pacific is anticipated to grow very fast during the forecasted period. The high growth of the market in this region can be attributed to the expansion of IT and telecommunication network in China, Thailand, Malaysia, South Korea, India, and other developing countries in APAC.

In August 2017, Samsung Electronics announced the Samsung Portable SSD T5 – the newest portable solid state drive (PSSD) that raises the bar for the performance of external memory products. The T5, built with Samsung’s latest 64-layer V-NAND technology, delivers industry-leading transfer speeds with encrypted data security in a compact and durable design, making it easier than ever for consumers to access their most valuable data anywhere, at any time.

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Intended Audience

• Banking
• Hardware Manufacturers
• Testing
• R&D

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