Market Overview:
The global hardware encryption market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for data security and privacy across different industries, such as IT & telecom, BFSI, government & public utilities, manufacturing enterprise, consumer electronics, automotive & transportation and healthcare. In addition, the increasing adoption of cloud-based services is also contributing to the growth of this market. However, lack of awareness about hardware encryption solutions among end users is restraining the growth of this market. On the basis of type, data encryption held a major share in 2017 and is expected to continue its dominance during the forecast period from 2018 to 2030. This can be attributed to its ability to protect confidential information from unauthorized access by encrypting it into an unreadable format.
Product Definition:
Hardware encryption is the process of encrypting data using specialized hardware devices. These devices use dedicated processors to encrypt and decrypt data, making them more secure than software-based solutions. Hardware encryption is important because it provides a more secure way to protect sensitive data from unauthorized access.
Data Encryption:
Data encryption is the process of converting unreadable data into a form which can be used only by designated users. The data is encrypted using an algorithm, which helps to convert the data into a set of instructions which can be decoded by the target device or software with the help of supplied key. Data encryption also helps in securing sensitive information from unauthorized access, destruction, and modification.
Data & Program Encryption:
Data & program encryption is a method used to protect sensitive data and programs by encrypting the data using mathematical algorithms. The encrypted information cannot be read or understood by unauthorized people. It can only be accessed when the authorized user provides the password.
Encryption of software or digital files prevents unauthorized access, but it does not prevent users from reading encrypted data that is stored on hard drives, flash memory devices, or any other storage media.
Application Insights:
The IT & telecom sector accounted for the largest market share in 2016 and is expected to continue its dominance over the forecast period. The growing demand for cloud-based applications, increasing data breaches, and rising cyber-attacks are among key factors driving this industry. Hardware encryption solutions have been gaining traction in this sector as they offer enhanced security against malware, viruses, and hackers.
Hardware encryption solutions are widely used across all major industries such as banking, financial services (BFSI), government & public utilities (GPUs), manufacturing enterprise (ME), consumer electronics/automotive/ aerospace & defense (CEA&AD). In these sectors where sensitive information is processed or stored on a regular basis hardware encryption helps enhance data protection by encrypting data at rest or during transit over storage media or transmission networks.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing government regulations and mandates for data security, rising cyber-attacks, and growing adoption of cloud services. Increasing use of mobile devices coupled with the need for data encryption is further expected to drive demand in this region.
Asia Pacific was estimated as the second-largest regional segment in 2017 owing to high demand from developing countries such as India and China. These countries are witnessing rapid growth in their manufacturing sector which requires secure storage of proprietary business information along with confidential consumer information that needs protection from hackers or eavesdroppers; hence driving demand for hardware encryption solutions across various industry verticals within Asia Pacific region over the forecast period.
Growth Factors:
- Increasing demand for data security and privacy from consumers and businesses
- The growth of cloud-based storage services and the increasing use of mobile devices
- Regulatory compliance requirements for data security
- The need to protect against data breaches and cyber-attacks
- The growing trend of Bring Your Own Device (BYOD) in the workplace
Scope Of The Report
Report Attributes
Report Details
Report Title
Hardware Encryption Market Research Report
By Type
Data Encryption, Data & Program Encryption, Others
By Application
IT & Telecom, BFSI, Government & Public Utilities, Manufacturing Enterprise, Consumer Electronics, Automotive & Transportation, Aerospace & Defense, Healthcare, Others
By Companies
Western Digital Corp, Seagate Technology PLC, Samsung Electronics, Thales, Micron Technology Inc, NetApp, Kingston Technology Corp, Gemalto, Certes Networks Inc., Kanguru Solutions, IBM Corporation, Imation, Maxim Integrated Products, SanDisk Corporation, Symantec Corporation, McAfee (Intel Corporation), Shenzhen Netcom Equiptronics, Apricorn
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Hardware Encryption Market Report Segments:
The global Hardware Encryption market is segmented on the basis of:
Types
Data Encryption, Data & Program Encryption, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
IT & Telecom, BFSI, Government & Public Utilities, Manufacturing Enterprise, Consumer Electronics, Automotive & Transportation, Aerospace & Defense, Healthcare, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Western Digital Corp
- Seagate Technology PLC
- Samsung Electronics
- Thales
- Micron Technology Inc
- NetApp
- Kingston Technology Corp
- Gemalto
- Certes Networks Inc.
- Kanguru Solutions
- IBM Corporation
- Imation
- Maxim Integrated Products
- SanDisk Corporation
- Symantec Corporation
- McAfee (Intel Corporation)
- Shenzhen Netcom Equiptronics
- Apricorn
Highlights of The Hardware Encryption Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Data Encryption
- Data & Program Encryption
- Others
- By Application:
- IT & Telecom
- BFSI
- Government & Public Utilities
- Manufacturing Enterprise
- Consumer Electronics
- Automotive & Transportation
- Aerospace & Defense
- Healthcare
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hardware Encryption Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hardware encryption is a security feature that uses physical security measures to protect data stored on a computer. This includes using tamper-resistant hardware and software, such as BitLocker Drive Encryption, to help protect data from unauthorized access.
Some of the major companies in the hardware encryption market are Western Digital Corp, Seagate Technology PLC, Samsung Electronics, Thales, Micron Technology Inc, NetApp, Kingston Technology Corp, Gemalto, Certes Networks Inc., Kanguru Solutions, IBM Corporation, Imation, Maxim Integrated Products, SanDisk Corporation, Symantec Corporation, McAfee (Intel Corporation), Shenzhen Netcom Equiptronics, Apricorn.
The hardware encryption market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hardware Encryption Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hardware Encryption Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hardware Encryption Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hardware Encryption Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hardware Encryption Market Size & Forecast, 2020-2028
4.5.1 Hardware Encryption Market Size and Y-o-Y Growth
4.5.2 Hardware Encryption Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Data Encryption
5.2.2 Data & Program Encryption
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 IT & Telecom
6.2.2 BFSI
6.2.3 Government & Public Utilities
6.2.4 Manufacturing Enterprise
6.2.5 Consumer Electronics
6.2.6 Automotive & Transportation
6.2.7 Aerospace & Defense
6.2.8 Healthcare
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hardware Encryption Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hardware Encryption Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Data Encryption
9.6.2 Data & Program Encryption
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 IT & Telecom
9.10.2 BFSI
9.10.3 Government & Public Utilities
9.10.4 Manufacturing Enterprise
9.10.5 Consumer Electronics
9.10.6 Automotive & Transportation
9.10.7 Aerospace & Defense
9.10.8 Healthcare
9.10.9 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Data Encryption
10.6.2 Data & Program Encryption
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 IT & Telecom
10.10.2 BFSI
10.10.3 Government & Public Utilities
10.10.4 Manufacturing Enterprise
10.10.5 Consumer Electronics
10.10.6 Automotive & Transportation
10.10.7 Aerospace & Defense
10.10.8 Healthcare
10.10.9 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Data Encryption
11.6.2 Data & Program Encryption
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 IT & Telecom
11.10.2 BFSI
11.10.3 Government & Public Utilities
11.10.4 Manufacturing Enterprise
11.10.5 Consumer Electronics
11.10.6 Automotive & Transportation
11.10.7 Aerospace & Defense
11.10.8 Healthcare
11.10.9 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Data Encryption
12.6.2 Data & Program Encryption
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 IT & Telecom
12.10.2 BFSI
12.10.3 Government & Public Utilities
12.10.4 Manufacturing Enterprise
12.10.5 Consumer Electronics
12.10.6 Automotive & Transportation
12.10.7 Aerospace & Defense
12.10.8 Healthcare
12.10.9 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Data Encryption
13.6.2 Data & Program Encryption
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 IT & Telecom
13.10.2 BFSI
13.10.3 Government & Public Utilities
13.10.4 Manufacturing Enterprise
13.10.5 Consumer Electronics
13.10.6 Automotive & Transportation
13.10.7 Aerospace & Defense
13.10.8 Healthcare
13.10.9 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hardware Encryption Market: Competitive Dashboard
14.2 Global Hardware Encryption Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Western Digital Corp
14.3.2 Seagate Technology PLC
14.3.3 Samsung Electronics
14.3.4 Thales
14.3.5 Micron Technology Inc
14.3.6 NetApp
14.3.7 Kingston Technology Corp
14.3.8 Gemalto
14.3.9 Certes Networks Inc.
14.3.10 Kanguru Solutions
14.3.11 IBM Corporation
14.3.12 Imation
14.3.13 Maxim Integrated Products
14.3.14 SanDisk Corporation
14.3.15 Symantec Corporation
14.3.16 McAfee (Intel Corporation)
14.3.17 Shenzhen Netcom Equiptronics
14.3.18 Apricorn
