Hardware Encryption Market

Hardware Encryption
Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and
Industry Forecast,
2014-2020

Introduction
Hardware Encryption Market would garner revenue of $296.4 billion by 2020, registering
a CAGR of 54.6% during the forecast period of 2015 – 2020
Hardware encryption is considered as the most effective form of data protection against
unauthorized access
Hard disk drives are the most widely encrypted devices, accounting for the highest
market share throughout analysis period
To address the grave issue of the increasing number of complex cyber-attacks,
governments across the globe are coming out with stringent regulations pertaining to
data protection; a factor that further supplements the demand of hardware encryption
as a key data security technology
Asia-Pacific is the largest revenue generating region for hardware encryption, followed by
North America and Europe

Key Factors of the Market
• Increasing number of data breaches and brute force attacks owing to
burgeoning digitalization is one of the driving factors of hardware encryption
• The reduced prices of encrypted chip/key have boosted the growth of the
hardware encryption market in all regions
• Increased compliance regulations
• The advancement in the system-on-chip (SoC) would reduce the prices of
encrypted chips. In the near future, it is expected that advanced technologies
would reduce the cost difference between normal storage devices and
hardware encrypted storage devices
• Lack of awareness

Hardware Encryption Market
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Key Benefits of the Market
• The increasing count of complex cyber-attacks and the impending need for
optimum data protection would drive the developments and advancements
in this market
• Hard disk drives would continue to be the highest revenue generating
segment over the analysis period
• Increased adoption of encryption devices would be witnessed across key
sectors such as healthcare, military & aerospace and IT & telecom over the
forecast period (2015 - 2020)
• Asia-Pacific is the highest revenue generating region, constituting nearly
33.5% of the total market revenue

Market Segmentation

Key Players of the Market
• Kingston Technology Corporation Inc.
• Certes Networks Inc.
• Seagate Technology LLC
• Toshiba Corporation
• NetApp, Inc.
• Micron Technology, Inc.
• Samsung Electronics Co. Ltd.
• Imation Corp.
• SanDisk Corporation
• Maxim Integrated Products, Inc., and
• International Business Machines Corporation (IBM)
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