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Hardware Encryption Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Sep 01, 2024
Length 120 Pages
SKU # FOB19185738

Description

Hardware Encryption Market



Growth Factors of Hardware Encryption Market

The hardware encryption market size was valued at USD 306.2 million in 2023, and the market is now projected to grow from USD 331.1 million in 2024 to USD 698.7 million by 2032, exhibiting a CAGR of 9.8% during the forecast period of 2024-2032.

During the COVID-19 outbreak remote working approach was adopted and this resulted to higher usage of the products with hardware encryption to secure the data. Enterprises increased their adoption of encryption for data on removable media by devising policies for encrypting such data, and 94 percent of the companies demanded the encryption of their data. However, due to security and compliance issues some companies were reluctant to implement but there was increase demand for encryption solutions in during this period.

Technological advancement has been witnessed by the Internet of Things (IoT) system but this has been accompanied by risks such as DDoS attacks, hacking, theft among others. In this case software-based security solutions can mitigate many of the threats but cannot stop physical attacks on IoT devices. Thus, the need for hardware security is increasing because it is the security area not covered by software security only.

AI has influences encryption through improving techniques, easing the use of keys, and increasing the detection of the threats. AI also has an importance in devising new Quantum-resistant encryption algorithms as it can find the patterns and structures in Mathematics to create new Encryption algorithms. With the development of quantum computing, the AI-based encryption is making its way as the means of data protection. The emerging technologies like AI and Quantum computing make it compulsory to address key encryption requirement.

Comprehensive Analysis of Hardware Encryption Market

The hardware encryption market growth is also increasing exponentially because of the segmentation of its market. In fact, this market expansion offers a specific regional analysis based on the primary supply and demand forces, which affect the industry. These segmentations are methodically segregated by product analysis and by end-user analysis. By product analysis incudes hard disk drive, solid state drive, USB flash drive, and smart card. By end-user analysis incudes individual and enterprise/industrial.

The North America region lead the hardware encryption market share by benefitting a market size of USD 123.1 million in 2023 due to its strong technological infrastructure.

Top players in the market have their responsibility of information & communication technology industrial prospectus growth of the retailing industry and the markets. These players include, Western Digital Technologies, Samsung Electronics, Micron Technology, Inc., Kingston Technology Corporation, Seagate Technology, NetApp, Intel Corporation, Thales e-Security, Inc., McAfee, LLC, Maxim Integrated Products these market players provide a level-playing competitive landscape.

In October 2023, Seagate Technology launched Exos 24TB hard drives, offering maximum storage capacity, encryption technology, and instant secure erase features.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.8% from 2024 to 2032

Unit Value (USD Million)

Segmentation By Product

- Hard Disk Drive

- Solid State Drive

- USB Flash Drive

- Smart Card

By End-user

- Individual

- Enterprise/Industrial
  • Consumer Electronics
  • Government
  • BFSI
  • Healthcare
  • Media & Entertainment
  • Aerospace & Defense
  • Others (Retail)
By Region

- North America (By Product, End-user, and Country)
  • U.S.
  • Canada
  • Mexico
- South America (By Product, End-user, and Country)
  • Brazil
  • Argentina
  • Rest of South America
- Europe (By Product, End-user, and Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of Europe
- Middle East & Africa (By Product, End-user, and Country)
  • Turkey
  • Israel
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa
- Asia Pacific (By Product, End-user, and Country)
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific


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Table of Contents

120 Pages
1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Hardware Encryption Key Players Market Share/Ranking, 2023
5. Global Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
5.1. Key Findings
5.2. By Product (USD)
5.2.1. Hard Disk Drive
5.2.2. SSD
5.2.3. USB Flash Drive
5.2.4. Smart Card
5.3. By End-user (USD)
5.3.1. Individual
5.3.2. Enterprise/Industrial
5.3.2.1. Consumer Electronics
5.3.2.2. Government
5.3.2.3. BFSI
5.3.2.4. Healthcare
5.3.2.5. Media & Entertainment
5.3.2.6. Aerospace & Defense
5.3.2.7. Others (Retail ,etc.)
5.4. By Region (USD)
5.4.1. North America
5.4.2. South America
5.4.3. Europe
5.4.4. Middle East & Africa
5.4.5. Asia Pacific
6. North America Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
6.1. Key Findings
6.2. By Product (USD)
6.2.1. Hard Disk Drive
6.2.2. SSD
6.2.3. USB Flash Drive
6.2.4. Smart Card
6.3. By End-user (USD)
6.3.1. Individual
6.3.2. Enterprise/Industrial
6.3.2.1. Consumer Electronics
6.3.2.2. Government
6.3.2.3. BFSI
6.3.2.4. Healthcare
6.3.2.5. Media & Entertainment
6.3.2.6. Aerospace & Defense
6.3.2.7. Others (Retail ,etc.)
6.4. By Country (USD)
6.4.1. United States
6.4.2. Canada
6.4.3. Mexico
7. South America Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
7.1. Key Findings
7.2. By Product (USD)
7.2.1. Hard Disk Drive
7.2.2. SSD
7.2.3. USB Flash Drive
7.2.4. Smart Card
7.3. By End-user (USD)
7.3.1. Individual
7.3.2. Enterprise/Industrial
7.3.2.1. Consumer Electronics
7.3.2.2. Government
7.3.2.3. BFSI
7.3.2.4. Healthcare
7.3.2.5. Media & Entertainment
7.3.2.6. Aerospace & Defense
7.3.2.7. Others (Retail ,etc.)
7.4. By Country (USD)
7.4.1. Brazil
7.4.2. Argentina
7.4.3. Rest of South America
8. Europe Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
8.1. Key Findings
8.2. By Product (USD)
8.2.1. Hard Disk Drive
8.2.2. SSD
8.2.3. USB Flash Drive
8.2.4. Smart Card
8.3. By End-user (USD)
8.3.1. Individual
8.3.2. Enterprise/Industrial
8.3.2.1. Consumer Electronics
8.3.2.2. Government
8.3.2.3. BFSI
8.3.2.4. Healthcare
8.3.2.5. Media & Entertainment
8.3.2.6. Aerospace & Defense
8.3.2.7. Others (Retail ,etc.)
8.4. By Country (USD)
8.4.1. United Kingdom
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Russia
8.4.7. Benelux
8.4.8. Nordics
8.4.9. Rest of Europe
9. Middle East & Africa Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
9.1. Key Findings
9.2. By Product (USD)
9.2.1. Hard Disk Drive
9.2.2. SSD
9.2.3. USB Flash Drive
9.2.4. Smart Card
9.3. By End-user (USD)
9.3.1. Individual
9.3.2. Enterprise/Industrial
9.3.2.1. Consumer Electronics
9.3.2.2. Government
9.3.2.3. BFSI
9.3.2.4. Healthcare
9.3.2.5. Media & Entertainment
9.3.2.6. Aerospace & Defense
9.3.2.7. Others (Retail ,etc.)
9.4. By Country (USD)
9.4.1. Turkey
9.4.2. Israel
9.4.3. GCC
9.4.4. North Africa
9.4.5. South Africa
9.4.6. Rest of MEA
10. Asia Pacific Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032
10.1. Key Findings
10.2. By Product (USD)
10.2.1. Hard Disk Drive
10.2.2. SSD
10.2.3. USB Flash Drive
10.2.4. Smart Card
10.3. By End-user (USD)
10.3.1. Individual
10.3.2. Enterprise/Industrial
10.3.2.1. Consumer Electronics
10.3.2.2. Government
10.3.2.3. BFSI
10.3.2.4. Healthcare
10.3.2.5. Media & Entertainment
10.3.2.6. Aerospace & Defense
10.3.2.7. Others (Retail, etc.)
10.4. By Country (USD)
10.4.1. China
10.4.2. India
10.4.3. Japan
10.4.4. South Korea
10.4.5. ASEAN
10.4.6. Oceania
10.4.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. Western Digital Technologies
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. Samsung Electronics
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Micron Technology
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. Kingston Technology Corporation
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Seagate Technology
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. NetApp
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Intel Corporation
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Thales e-Security, Inc.
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. McAfee, LLC
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Maxim Integrated Products
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments
12. Key Takeaways

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