About Encrypted Flash Drives
Secure Universal Serial Bus (USB) drives are solutions to store and manage enterprise data within and outside the enterprise environment. USB drives are also known as a keychain drive, flash drive or disk-on-key. According to the European Union Agency for Cybersecurity, it is found that more than 77% of corporate users are using personal Universal Serial Bus (USB) flash drive for work-related purposes. The majority of corporate end-users (77 %) have used a personal USB flash drive for work-related purposes. In addition, it is also found that 1 out of 5 has little to no awareness regarding risks involved with transporting corporate data on USB flash drives (21 %), which is a significant potential for data loss.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.0% |
The global encrypted flash drive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Encrypted Flash Drives 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.
SanDisk (United States), Kingston Technology Corporation (United States), LaCie (United States), Western Digital Corporation (United States), Seagate Technology PLC (United States), DataLocker Inc. (United States), Kanguru Solutions (United States), Transcend Information, Inc. (Taiwan), Apricorn (United States) and Integral Memory (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Encrypted Flash Drives market by , Application (Enterprises {SMEs, Large enterprise}, Government and Others) and Region.
On the basis of geography, the market of Encrypted Flash Drives 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 Component , the sub-segment i.e. Hardware will boost the Encrypted Flash Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Storage Capacity, the sub-segment i.e. 4GB will boost the Encrypted Flash Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Interface, the sub-segment i.e. USB 3.1 will boost the Encrypted Flash Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Concern over Data Security as well as Privacy, Increasing Digital Media Applications Worldwide and Rising Requirement for Regulatory Compliances
Market Growth Drivers:
In the last few years, corporate end-users are preferring taking work home to keep up their productivity. In order to need to synchronize files between a computer and the drive to maintain backup files. Therefore, secure flash drives have gained in capacity and have high demand in an enterprise.
Challenges:
Possibilities of Losing Data
Restraints:
Availability of Numerous Substitute Storage Products may act as restrain for Market Growth and Lack of Security and Less Structured Data
Opportunities:
Expansion of Digital Content as well as Widespread Adoption of Cloud Computing Worldwide
Market Leaders and their expansionary development strategies
In June 2023, Gemalto joins forces with Thales to develop secure hardware encryption solutions for embedded systems, potentially impacting their future flash drive offerings.
In February 2023, Kingston launched the IronKey Vault Privacy CFexpress Type B card, offering hardware encryption for professional photographers and videographers.
Key Target Audience
Encrypted Flash Drive Companies, Regulatory Bodies, Component Suppliers, Distributors and Others
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.