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Global Hardware Encryption Market – Industry Trends and Forecast to 2029

Semiconductors and Electronics

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Global Hardware Encryption Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Hardware Encryption Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 231.10 Million
Diagram Market Size (Forecast Year) USD 460.48 Million
Diagram CAGR %

Major Markets Players

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Global Hardware Encryption Market, By Type (Application-specific Integrated Circuit (ASIC) and Field-programmable Gate Array (FPGA)), Algorithm and Standard (Rivest, Shamir, and Adelman (RSA), Advanced Encryption Standard (AES), and Others), Product Type (External HDD, Internal HDD, Solid-state Drive, Inline Network Encryptor, USB Flash Drive), Application (Consumer Electronics, IT and Telecom, Healthcare, Aerospace and Defense, Transportation, Others), End Use (Industrial, Commercial, Residential, Government) - Industry Trends and Forecast to 2029

Hardware Encryption Market

Market Analysis and Size

Encryption and decryption have taken a major role in the prevention of unauthorized access to sensitive or private data. Hardware encryption is considered highly effective in protecting confidential data during transmission and storage.

Global Hardware Encryption Market was valued at USD 231.1 million in 2021 and is expected to reach USD 460.48 million by 2029, registering a CAGR of 9.00% during the forecast period of 2022-2029. Consumer Electronics accounts for the largest application segment in the respective market owing to the rise in consumer electronics applications. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Hardware encryption refers to the process of encoding of data or information into a form that is specifically accessible to only authorized users. An encrypting algorithm is required for encoding of the hardware that generates cipher text. This type of text can be read only after decryption. An authorized user needs to type in a key or a password for decoding this private data.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Application-specific Integrated Circuit (ASIC) and Field-programmable Gate Array (FPGA)), Algorithm and Standard (Rivest, Shamir, and Adelman (RSA), Advanced Encryption Standard (AES), and Others), Product Type (External HDD, Internal HDD, Solid-state Drive, Inline Network Encryptor, USB Flash Drive), Application (Consumer Electronics, IT and Telecom, Healthcare, Aerospace and Defense, Transportation, Others), End Use (Industrial, Commercial, Residential, Government)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Microsoft (US), Bloombase. (US), Symantec (US), Intel Security (US), EMC Corporation (US), Amazon Web Services Inc. (US), Check Point Software Technologies (Israel), Cisco System Inc. (US), F-Secure (Finland), Fortinet Inc. (US), IBM Corporation (US), Oracle Corporation (US), Palo Alto Networks Inc. (US), WinMagic Inc. (Canada), and Trend Micro Incorporated (Japan), among others

Market Opportunities

  • Extensive acceptance of cloud computing
  • Use of endpoint security among organizations
  • Rise in implementation of stringent regulations

Hardware Encryption Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

Hardware Encryption Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Management of Risks

The use of endpoint security among organizations for understanding, anticipating and holistically managing their risks acts as one of the major factors driving the hardware encryption market. These solutions are effective to make strategic decisions effectively, and respond efficiently.

  • Implementation of Stringent Regulations

The rise in implementation of stringent regulations and mandates by the government across various end-user verticals accelerate the market growth. Also, hardware encryption is being widely adopted among organizations due to its unique advantages.

  • Rise in Threats

The rise in threats amongst organizations due to digitalization and sharing of large amount of data accelerate further influence the market. The increase in cybersecurity threat is acting as another factor driving the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the hardware encryption market.

Opportunities

Furthermore, extensive acceptance of cloud computing extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, substantial development and growth of IoT in various industries will further expand the market.

Restraints/Challenges

On the other hand, requirement of heavy capital investments by stakeholders and deficiency in buyer responsiveness are expected to obstruct market growth. Also, increase in adoption of SED and TPM in current processors and lack of awareness toward hardware encryption technology are projected to challenge the hardware encryption market in the forecast period of 2022-2029.

This hardware encryption market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hardware encryption market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Hardware Encryption Market

COVID-19 had a positive impact on the hardware encryption market due to the rise in number of industry verticals adopting security tools during the outbreak of COVID-19. Numerous industries, especially consumer electronics, along with telecommunications and IT was deploying endpoint security to secure consumer data. The hardware encryption market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of hardware encryption and increase in cyber threats.

Recent Developments

  • Samsung unveiled a Common Criteria Evaluation Assurance Level (CC EAL) 5+ that is certified Secure Element (SE) turnkey solution for mobile devices. The new solution is known to provide a strong security solution consist of a security chip (S3K250AF).

Global Hardware Encryption Market Scope and Market Size

The hardware encryption market is segmented on the basis of type, product type, application and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Application-specific Integrated Circuit (ASIC) and Field-programmable Gate Array (FPGA))
  • Algorithm and Standard (Rivest, Shamir, and Adelman (RSA)
  • Advanced Encryption Standard (AES)
  • Others

Product Type

  • External HDD
  • Internal HDD
  • Solid-state Drive
  • Inline Network Encryptor
  • USB Flash Drive

Application

  • Consumer Electronics
  • IT and Telecom
  • Healthcare
  • Aerospace and Defense
  • Transportation
  • Others

End Use

  • Industrial
  • Commercial
  • Residential
  • Government

Hardware Encryption Market Regional Analysis/Insights

The hardware encryption market is analysed and market size insights and trends are provided by country, type, product type, application and end use as referred above.

The countries covered in the hardware encryption market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the hardware encryption market because of the high need for data security is massive in several sectors within the region

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the advancement in IT and telecom infrastructure in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Hardware Encryption Market

The hardware encryption market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hardware encryption market.

Some of the major players operating in hardware encryption market are

  • Microsoft (US)
  • Bloombase. (US)
  • Symantec (US)
  • Intel Security (US)
  • EMC Corporation (US)
  • Amazon Web Services Inc. (US)
  • Check Point Software Technologies (Israel)
  • Cisco System Inc. (US)
  • F-Secure (Finland)
  • Fortinet Inc. (US)
  • IBM Corporation (US)
  • Oracle Corporation (US)
  • Palo Alto Networks Inc. (US)
  • WinMagic Inc. (Canada)
  • Trend Micro Incorporated (Japan)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Hardware Encryption Market grow at a CAGR of 9.00% by 2029.
Hardware Encryption Market is expected to reach USD 460.48 million by 2029.
The major players operating in hardware encryption market are Microsoft (US) Bloombase. (US) Symantec (US) Intel Security (US) EMC Corporation (US) Amazon Web Services Inc. (US) Check Point Software Technologies (Israel) Cisco System Inc. (US) F-Secure (Finland) Fortinet Inc. (US) IBM Corporation (US) Oracle Corporation (US) Palo Alto Networks Inc. (US) WinMagic Inc. (Canada) Trend Micro Incorporated (Japan).
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the advancement in IT and telecom infrastructure in the region.
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