Global Hardware Encryption Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 21% from 2020 to 2027, reaching US$ XX Bn.

The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Global Hardware Encryption Market Dynamics

Hardware-based encryption is an independent software and does not need any extra software, which utilizes a device to perform encryption and decryption. The hardware encryption devices replace traditional passwords with biometric logins (like fingerprints) or a PIN entered on an attached keypad. Hardware encryption is increasingly common on cell phones. For instance, the TouchID fingerprint scanner on Apple iPhones is a good example of hardware encryption. The global hardware encryption market is driven by the imposition of regulatory compliances about the protection of private sensitive data and the expansion of digital content. A significant advantage over software encryption technology and an increase in complexity risk of data breaches brute-force attacks are impelling market growth in the upcoming period.

However, the high wealth investment necessary for the installation and maintenance of hardware-based encryption technology is hampering the market growth at the global level. Widespread adoption of cloud computing, significant development, and expansion of IoT in several applications, and the introduction of compact and economical hardware encryption techniques are likely to create lucrative growth opportunities for the hardware encryption industry. Lack of customer awareness is the major challenge for market growth in the near future.

Global Hardware Encryption Market Snapshot
Global Hardware Encryption Market Segment Analysis

Based on the application, the hardware encryption market is segmented into Automotive, BFSI, IT Telecom, Military Aerospace, Healthcare, and Others. The consumer electronics segment has led the hardware encryption market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Owing to the development of bring-your-own-devices (BYOD) across several organizations that are expected to create the need for hardware-encrypted security. But, the healthcare segment is likely to grow at the CAGR of XX% during the forecast period thanks to an increase in the risk of data breaches and a rise in government initiatives to upsurge the demand for hardware encryption in the healthcare sector.
Global Hardware Encryption Market Regional Analysis

Geographically, the hardware encryption market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Owing to the presence of several well-established hardware encryption manufacturing companies in the region. The enormous number of automation ventures, smart cities ventures, high defense spending, innovative healthcare facilities, connected living environment, and rising reliance on e-commerce in the region, which are the major factors behind the market growth. Asia Pacific is projected to grow at the CAGR of XX% during the forecast period owing to the development of IT and telecommunication network in emerging economies such as China, Thailand, Malaysia, South Korea, India, and other in APAC. The high population increase in household income, and rapid growth in the middle-class population in Asia-Pacific, will propel the market growth in the coming years.

The objective of the report is to present a comprehensive analysis of the Global Hardware Encryption Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Hardware Encryption Market dynamics, structure by analyzing the market segments and project the Global Hardware Encryption Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hardware Encryption Market make the report investor’s guide.
Global Hardware Encryption Market Scope

Global Hardware Encryption Market, by Product:

• External Hard Disk Drives
• Inline Network Encryptors
• Internal Hard Disk Drives
• Solid-State Drives
• USB Flash Drives
Global Hardware Encryption Market, by Architecture:

• Application specific integrated circuits (ASIC)
• Field programmable gate arrays (FPGA)
Global Hardware Encryption Market, by Algorithm Standard:

• Rivest- Shamir-Adleman (RSA) Algorithm
• Advanced Encryption Standard (AES)
• Secure Hash Algorithm (SHA)
• Digital Signature Algorithm (DSA)
• Data Encryption Standard (DES)
• Elliptic Curve Cryptography (ECC)
Global Hardware Encryption Market, by Application:

• Automotive
• BFSI
• IT Telecom
• Military Aerospace
• Healthcare
• Others
Global Hardware Encryption Market, by End User:

• Commercial
• Residential
• Industrial
• Government Agencies
Global Hardware Encryption Market, by Region:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Global Hardware Encryption Market Major 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

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