Hardware Encryption Market - Key Trends, dynamics, Competitive Landscape, Product Benchmarking, and Latest Key Acquisitions and Mergers.
Maximize Market Research, a reputable provider of business research and consulting services, forecasts that the global market for Hardware Encryption was valued at US$ 235.3 Mn. in 2020. Global Hardware Encryption Market size is estimated to grow at a CAGR of 6.21%.
The research report on the Hardware Encryption market offers extensive details on the market's size, rate of growth, revenue, trends, and potential in addition to a forecast for the years up to 2029. The major factors influencing the development of this industry have also been fully considered. The results of this study, which involved a thorough quantitative examination of the market, can be used to create policies that would encourage productivity and growth.
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Hardware Encryption Market Overview:
The most recent drivers, restraints, and opportunities in the Hardware Encryption industry are the main subjects of the in-depth corporate business research of the Hardware Encryption market. The outcomes were then verified by contacting well-known businesses. The secondary inquiry and analysis of these data sources use both commercial and free data sources. Reliable data sources, official government sources, and, in the case of publicly traded companies, financial reports of the company are used to compile information on each player's supply and consumption. Financial records may be requested by the local government's tax division even if they aren't typically available to the general public.
COVID-19 Impact:
The analysis provides more precise and true estimations in keeping with the realities of the market by looking at the current and possible effects of the COVID-19 pandemic on the larger market. The massive spread of the coronavirus is causing distress. Social segregation laws, such as lockdowns, are present in nearly every nation. Major supply interruptions have resulted from this. Globally, social systems have changed as a result of the disease's broad consequences. The COVID-19 has an impact on the entire market, and that impact will get stronger in 2019 and 2020 in keeping with the market's rate of growth. The COVID-19 event has forced enterprises to manage risk and digitise operations in order to give trustworthy information and experiences to decision-makers. This is in line with the most recent MMR assessments, studies, and recommendations addressing management issues that are very important for organisations and businesses and have a significant effect on the market.
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Hardware Encryption Market Key players:
• Samsung Electronics
• Toshiba Corporation
• Western Digital Corporation
• Seagate Technology PLC
• Kingston Technology Corp.
• Micron Technology Inc.
• Kanguru Solutions
• Maxim Integrated Products, Inc.
• NetApp
• Win Magic Inc.
• Thales e-security
• Gemalto NV.
• IBM Corporation
• McAfee, LLC
• Symantec Corporation
• KIOXIA HOLDINGS CORPORATION
• BROADCOM
Key company and market share insights:
For the public's advantage, the top rivals are highlighted in this instance. In order to keep their market-leading positions, large companies often make important strategic decisions, such as improving their product portfolios, M&A deals, partnerships, cutting-edge product development, and international growth. The report contains the company's objectives as well as significant financial data and original insights. Users can also get information on the companies' global sales, revenue, and profit margins for the years 2017 through 2022.
Hardware Encryption Market Dynamics:
The market for hardware encryption is anticipated to grow as portable storage devices are increasingly used to backup data and transfer it between computers.
Devices for hardware encryption effectively protect personal data from unauthorised access. Self-encrypting SSDs, mobile phones with built-in encryption, and encrypted USB and external hard drives are examples of hardware encryption devices.The expansion of digital content and the imposition of regulatory compliances regarding the protection of private and sensitive data are what are fueling the growth of the global hardware encryption market. The market is expected to grow rapidly in the coming years due to a significant advantage over software encryption architecture as well as an increase in complexity, risk of data breaches, and brute-force attacks.
Hardware Encryption Market Segment:
During the forecast period, the solid-state drives (SSD) segment is anticipated to grow at a CAGR of over 6.45%. The expansion of digital content and the rise in data breaches are two factors that are anticipated to fuel market expansion. The demand for solid-state drives is anticipated to be driven by an increase in the uptake of high-end cloud computing, the adoption of SSDs in data centres, and the benefits of SSDs over HDDs. With the emergence of new cloud platforms, including personal clouds in homes and traditional corporate private and public clouds, the demand for solid-state drives is rising quickly. This trend is also anticipated to increase demand for hardware encryption.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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