Encryption is the process of mixing confidential information readable only by the recipient. Encryption is mainly done by hardware or software devices that use a series of algorithms or mathematical operations to generate encrypted text or 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 called plain text. This hardware encryption process means that the file is written to the unit and then encrypted automatically using specialized software. When the reader's file is read, there is a special software that decrypts it automatically, making it understandable to the recipient and functioning like any other normal computer. Hardware encryption as a technology prevents unauthorized persons from accessing the data, which provides an additional layer of security against hackers or online threats.
Hardware Encryption Market Size and Share analysis:
The Global Hardware Encryption Market was valued at $52.45 billion in 2016 and is projected to reach $1,085 billion by 2024, having a CAGR of 46.3% during the forecast period of 2018 to 2024.
Hardware Encryption Market -Drivers and Restraints:
The optimization of the encryption function with the rest of the reader is one of the main drivers of growth in this market. The use of software encryption involves many steps that are avoided in the event that hardware encryption 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.
One of these factors is the high cost associated with its implementation, while another factor is the hardware encryption related to a single device instead of a complete system. In addition, updates in case of hardware encryption are also possible, thanks to the replacement of peripherals that makes it difficult to implement. It is the growth of Internet of Things (IoT) technology and cloud services that should offer many growth opportunities for this market in the coming years.
Hardware Encryption Market -Geographical Insights:
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 another fastest growing regions in the world. China, Korea, India and Japan are among the main contributors to growth. The growing penetration of the internet, as well as the growing demand for smartphones and tablets, has also contributed significantly to growth.
Prominent Players in this Hardware Encryption Market are:
Certes Networks Inc.
IBM Corporation
- Imation Corp.
- Kingston Technology Corporation Inc.
- Maxim Integrated Products, Inc.
- Micron Technology, Inc.
- NetApp, Inc.
- Samsung Electronics Co. Ltd.
- SanDisk Corporation
- Seagate Technology LLC
- Toshiba Corporation
Hardware Encryption Market Key Segmentation:
Hardware Encryption Market Analysis by Usage:
Hardware Encryption Market Analysis by Application:
Healthcare Sector
Military & Aerospace
- Automotive & Transportation
- BFSI
- IT & Telecom
- Others (Retail, Education, Individual User)
Hardware Encryption Market Analysis by End User:
Hardware Encryption Market Analysis by Geography:
North America
Europe
- APAC
- Rest of the World
TABLE NO 1. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
TABLE NO 2. GLOBAL STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 3. GLOBAL HARD DISK STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 4. GLOBAL USB FLASH STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 5. GLOBAL NETWORK MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 6. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY APPLICATION,2016-2024($MILLION)
TABLE NO 7. GLOBAL HEALTHCARE SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 8. GLOBAL MILITARY AND AEROSPACE SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 9. GLOBAL AUTOMOTIVE AND TRANSPORTATION SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 10. GLOBAL BFSI MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 11. GLOBAL IT AND TELECOM MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 12. GLOBAL OTHER HARDWARE ENCRYPTION MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 13. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY END-USER,2016-2024($MILLION)
TABLE NO 14. GLOBAL INDUSTRIAL/COMMERCIAL MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 15. GLOBAL RESIDENTIAL MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 16. GLOBAL GOVERNMENT AGENCIES MARKET REVENUE BY REGION,2016-2024($MILLION)
TABLE NO 17. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY GEOGRAPHY,2016-2024($MILLION)
TABLE NO 18. NORTH AMERICA HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
TABLE NO 19. EUROPE HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
TABLE NO 20. APAC HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION) 30
TABLE NO 21. ROW HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION) 31
FIGURE NO 1. VALUE CHAIN ANALYSIS
FIGURE NO 2. FIVE FORCES ANALYSIS
FIGURE NO 3. MARKET SHARE ANALYSIS
FIGURE NO 4. INVESTMENT OPPORTUNITIES
FIGURE NO 5. KEY STRATEGIC ATTEMPTS (%SHARE)
FIGURE NO 6. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
FIGURE NO 7. GLOBAL STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 8. GLOBAL HARD DISK STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 9. GLOBAL USB FLASH STORAGE DEVICE MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 10. GLOBAL NETWORK MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 11. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY APPLICATION,2016-2024($MILLION)
FIGURE NO 12. GLOBAL HEALTHCARE SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 13. GLOBAL MILITARY AND AEROSPACE SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 14. GLOBAL AUTOMOTIVE AND TRANSPORTATION SECTOR MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 15. GLOBAL BFSI MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 16. GLOBAL IT AND TELECOM MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 17. GLOBAL OTHER HARDWARE ENCRYPTION MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 18. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY END-USER,2016-2024($MILLION)
FIGURE NO 19. GLOBAL INDUSTRIAL/COMMERCIAL MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 20. GLOBAL RESIDENTIAL MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 21. GLOBAL GOVERNMENT AGENCIES MARKET REVENUE BY REGION,2016-2024($MILLION)
FIGURE NO 22. GLOBAL HARDWARE ENCRYPTION MARKET REVENUE BY GEOGRAPHY,2016-2024($MILLION)
FIGURE NO 23. NORTH AMERICA HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
FIGURE NO 24. EUROPE HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
FIGURE NO 25. APAC HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
FIGURE NO 26. ROW HARDWARE ENCRYPTION MARKET REVENUE BY USAGE,2016-2024($MILLION)
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