About Hardware Encryption
The hardware encryption market is expected to develop in the future as people become more concerned about data protection and privacy. During the forecast era, the availability of advanced encryption standards (AES) is expected to increase significantly. The hardware encryption market is being boosted by the rise of consumer electronics and the need for high-level encryption solutions to protect top-secret government data in countries all over the world.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global hardware encryption market is highly fragmented and players adopted various strategies such as new product launches, acquisitions, partnerships, expansion, agreement, contract, alliance and collaboration to grow in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Hardware Encryption market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Western Digital Corp. (United States), Samsung Electronics Co. Ltd. (South Korea), Seagate Technology PLC (Ireland), Micron Technology Inc. (United States), Kingston Technology Corp. (United States), Toshiba Corp. (Japan), Kanguru Solutions (United States), Winmagic Inc.(United States), Maxim Integrated Products, Inc. (United States) and Netapp (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Gemalto NV. (Netherlands) and Thales e-security (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hardware Encryption market by Type (Internal and External Hard Disk Drive, Solid-State Drive, USB and Inline Encryptor), Application (Consumer Electronics, IT, Transport, Aerospace, Medical, Financial Services and Other) and Region.
On the basis of geography, the market of Hardware Encryption has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Algorithm and Standard, the sub-segment i.e. Advanced Encryption Standard (AES) will boost the Hardware Encryption market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Architectures, the sub-segment i.e. Field-Programmable Gate Arrays (FPGA) will boost the Hardware Encryption market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Usage of Hardware Encryption in Financial, Healthcare and Government Sectors to Protect Sensitive Data
Market Growth Drivers:
Growing Concern Over Data Security and Privacy, Increase in a Number of Cyber Thefts and Increasing Demand for High-level Encryption Solutions to Secure Data
Challenges:
Lack of Customer Awareness
Restraints:
High Capital Investment Required in the Installation and Maintenance of Hardware Encryption
Opportunities:
Technological Advancement on Encryption Chip
Market Leaders and their expansionary development strategies
Samsung Electronics Co., Ltd., a worfld leader in advanced semiconductor technology, launched its new fingerprint security IC (integrated circuit) ─ S3B512C ─ with enhanced security features. The new solution is EMVCo and Common Criteria Evaluation Assurance Level (CC EAL) 6+ certified and performs in line with Mastercard’s latest Biometric Evaluation Plan Summary (BEPS) specifications for biometric payment cards.
In November 2023, Utimaco, a leading global provider of IT security solutions, is proud launched of its new easy-to-use file encryption as-a-service management solution, u.trust LAN Crypt Cloud, to protect sensitive and business-critical data against unauthorized access. Client-side encryption ensures that data remains protected, regardless of its storage location, whether on-premises or in the cloud.
Key Target Audience
Electronic design automation (EDA) & design tool vendors, Integrated device manufacturers (IDMs), Raw material & manufacturing equipment suppliers, Hardware encryption semiconductor device manufacturers, Hardware encryption component manufacturers, Hardware encryption product manufacturers (ODMs), ODM and OEM technology solution providers, Distributors and traders and Research organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.