Hardware Encryption Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	120 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185738

Best Price Guarantee
Price	from $4,850
Length	120 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185738

Hardware Encryption Market

Growth Factors of Hardware Encryption Market

The hardware encryption market size was valued at USD 306.2 million in 2023, and the market is now projected to grow from USD 331.1 million in 2024 to USD 698.7 million by 2032, exhibiting a CAGR of 9.8% during the forecast period of 2024-2032.

During the COVID-19 outbreak remote working approach was adopted and this resulted to higher usage of the products with hardware encryption to secure the data. Enterprises increased their adoption of encryption for data on removable media by devising policies for encrypting such data, and 94 percent of the companies demanded the encryption of their data. However, due to security and compliance issues some companies were reluctant to implement but there was increase demand for encryption solutions in during this period.

Technological advancement has been witnessed by the Internet of Things (IoT) system but this has been accompanied by risks such as DDoS attacks, hacking, theft among others. In this case software-based security solutions can mitigate many of the threats but cannot stop physical attacks on IoT devices. Thus, the need for hardware security is increasing because it is the security area not covered by software security only.

AI has influences encryption through improving techniques, easing the use of keys, and increasing the detection of the threats. AI also has an importance in devising new Quantum-resistant encryption algorithms as it can find the patterns and structures in Mathematics to create new Encryption algorithms. With the development of quantum computing, the AI-based encryption is making its way as the means of data protection. The emerging technologies like AI and Quantum computing make it compulsory to address key encryption requirement.

Comprehensive Analysis of Hardware Encryption Market

The hardware encryption market growth is also increasing exponentially because of the segmentation of its market. In fact, this market expansion offers a specific regional analysis based on the primary supply and demand forces, which affect the industry. These segmentations are methodically segregated by product analysis and by end-user analysis. By product analysis incudes hard disk drive, solid state drive, USB flash drive, and smart card. By end-user analysis incudes individual and enterprise/industrial.

The North America region lead the hardware encryption market share by benefitting a market size of USD 123.1 million in 2023 due to its strong technological infrastructure.

Top players in the market have their responsibility of information & communication technology industrial prospectus growth of the retailing industry and the markets. These players include, Western Digital Technologies, Samsung Electronics, Micron Technology, Inc., Kingston Technology Corporation, Seagate Technology, NetApp, Intel Corporation, Thales e-Security, Inc., McAfee, LLC, Maxim Integrated Products these market players provide a level-playing competitive landscape.

In October 2023, Seagate Technology launched Exos 24TB hard drives, offering maximum storage capacity, encryption technology, and instant secure erase features.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.8% from 2024 to 2032

Unit Value (USD Million)

Segmentation By Product

- Hard Disk Drive

- Solid State Drive

- USB Flash Drive

- Smart Card

By End-user

- Individual

- Enterprise/Industrial

Consumer Electronics
Government
BFSI
Healthcare
Media & Entertainment
Aerospace & Defense
Others (Retail)

By Region

- North America (By Product, End-user, and Country)

U.S.
Canada
Mexico

- South America (By Product, End-user, and Country)

Brazil
Argentina
Rest of South America

- Europe (By Product, End-user, and Country)

U.K.
Germany
France
Italy
Spain
Russia
Benelux
Nordics
Rest of Europe

- Middle East & Africa (By Product, End-user, and Country)

Turkey
Israel
GCC
North Africa
South Africa
Rest of the Middle East & Africa

- Asia Pacific (By Product, End-user, and Country)

China
Japan
India
South Korea
ASEAN
Oceania
Rest of Asia Pacific

Please Note:

1. Introduction: 1.1. Definition, By Segment; 1.2. Research Methodology/Approach; 1.3. Data Sources
2. Executive Summary
3. Market Dynamics: 3.1. Macro and Micro Economic Indicators; 3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape: 4.1. Business Strategies Adopted by Key Players; 4.2. Consolidated SWOT Analysis of Key Players; 4.3. Global Hardware Encryption Key Players Market Share/Ranking, 2023
5. Global Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 5.1. Key Findings; 5.2. By Product (USD); 5.2.1. Hard Disk Drive; 5.2.2. SSD; 5.2.3. USB Flash Drive; 5.2.4. Smart Card; 5.3. By End-user (USD); 5.3.1. Individual; 5.3.2. Enterprise/Industrial; 5.3.2.1. Consumer Electronics; 5.3.2.2. Government; 5.3.2.3. BFSI; 5.3.2.4. Healthcare; 5.3.2.5. Media & Entertainment; 5.3.2.6. Aerospace & Defense; 5.3.2.7. Others (Retail ,etc.); 5.4. By Region (USD); 5.4.1. North America; 5.4.2. South America; 5.4.3. Europe; 5.4.4. Middle East & Africa; 5.4.5. Asia Pacific
6. North America Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 6.1. Key Findings; 6.2. By Product (USD); 6.2.1. Hard Disk Drive; 6.2.2. SSD; 6.2.3. USB Flash Drive; 6.2.4. Smart Card; 6.3. By End-user (USD); 6.3.1. Individual; 6.3.2. Enterprise/Industrial; 6.3.2.1. Consumer Electronics; 6.3.2.2. Government; 6.3.2.3. BFSI; 6.3.2.4. Healthcare; 6.3.2.5. Media & Entertainment; 6.3.2.6. Aerospace & Defense; 6.3.2.7. Others (Retail ,etc.); 6.4. By Country (USD); 6.4.1. United States; 6.4.2. Canada; 6.4.3. Mexico
7. South America Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 7.1. Key Findings; 7.2. By Product (USD); 7.2.1. Hard Disk Drive; 7.2.2. SSD; 7.2.3. USB Flash Drive; 7.2.4. Smart Card; 7.3. By End-user (USD); 7.3.1. Individual; 7.3.2. Enterprise/Industrial; 7.3.2.1. Consumer Electronics; 7.3.2.2. Government; 7.3.2.3. BFSI; 7.3.2.4. Healthcare; 7.3.2.5. Media & Entertainment; 7.3.2.6. Aerospace & Defense; 7.3.2.7. Others (Retail ,etc.); 7.4. By Country (USD); 7.4.1. Brazil; 7.4.2. Argentina; 7.4.3. Rest of South America
8. Europe Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 8.1. Key Findings; 8.2. By Product (USD); 8.2.1. Hard Disk Drive; 8.2.2. SSD; 8.2.3. USB Flash Drive; 8.2.4. Smart Card; 8.3. By End-user (USD); 8.3.1. Individual; 8.3.2. Enterprise/Industrial; 8.3.2.1. Consumer Electronics; 8.3.2.2. Government; 8.3.2.3. BFSI; 8.3.2.4. Healthcare; 8.3.2.5. Media & Entertainment; 8.3.2.6. Aerospace & Defense; 8.3.2.7. Others (Retail ,etc.); 8.4. By Country (USD); 8.4.1. United Kingdom; 8.4.2. Germany; 8.4.3. France; 8.4.4. Italy; 8.4.5. Spain; 8.4.6. Russia; 8.4.7. Benelux; 8.4.8. Nordics; 8.4.9. Rest of Europe
9. Middle East & Africa Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 9.1. Key Findings; 9.2. By Product (USD); 9.2.1. Hard Disk Drive; 9.2.2. SSD; 9.2.3. USB Flash Drive; 9.2.4. Smart Card; 9.3. By End-user (USD); 9.3.1. Individual; 9.3.2. Enterprise/Industrial; 9.3.2.1. Consumer Electronics; 9.3.2.2. Government; 9.3.2.3. BFSI; 9.3.2.4. Healthcare; 9.3.2.5. Media & Entertainment; 9.3.2.6. Aerospace & Defense; 9.3.2.7. Others (Retail ,etc.); 9.4. By Country (USD); 9.4.1. Turkey; 9.4.2. Israel; 9.4.3. GCC; 9.4.4. North Africa; 9.4.5. South Africa; 9.4.6. Rest of MEA
10. Asia Pacific Hardware Encryption Market Size Estimates and Forecasts, By Segments, 2019-2032: 10.1. Key Findings; 10.2. By Product (USD); 10.2.1. Hard Disk Drive; 10.2.2. SSD; 10.2.3. USB Flash Drive; 10.2.4. Smart Card; 10.3. By End-user (USD); 10.3.1. Individual; 10.3.2. Enterprise/Industrial; 10.3.2.1. Consumer Electronics; 10.3.2.2. Government; 10.3.2.3. BFSI; 10.3.2.4. Healthcare; 10.3.2.5. Media & Entertainment; 10.3.2.6. Aerospace & Defense; 10.3.2.7. Others (Retail, etc.); 10.4. By Country (USD); 10.4.1. China; 10.4.2. India; 10.4.3. Japan; 10.4.4. South Korea; 10.4.5. ASEAN; 10.4.6. Oceania; 10.4.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases): 11.1. Western Digital Technologies; 11.1.1. Overview; 11.1.1.1. Key Management; 11.1.1.2. Headquarters; 11.1.1.3. Offerings/Business Segments; 11.1.2. Key Details (Key details are consolidated data and not product/service specific); 11.1.2.1. Employee Size; 11.1.2.2. Past and Current Revenue; 11.1.2.3. Geographical Share; 11.1.2.4. Business Segment Share; 11.1.2.5. Recent Developments; 11.2. Samsung Electronics; 11.2.1. Overview; 11.2.1.1. Key Management; 11.2.1.2. Headquarters; 11.2.1.3. Offerings/Business Segments; 11.2.2. Key Details (Key details are consolidated data and not product/service specific); 11.2.2.1. Employee Size; 11.2.2.2. Past and Current Revenue; 11.2.2.3. Geographical Share; 11.2.2.4. Business Segment Share; 11.2.2.5. Recent Developments; 11.3. Micron Technology; 11.3.1. Overview; 11.3.1.1. Key Management; 11.3.1.2. Headquarters; 11.3.1.3. Offerings/Business Segments; 11.3.2. Key Details (Key details are consolidated data and not product/service specific); 11.3.2.1. Employee Size; 11.3.2.2. Past and Current Revenue; 11.3.2.3. Geographical Share; 11.3.2.4. Business Segment Share; 11.3.2.5. Recent Developments; 11.4. Kingston Technology Corporation; 11.4.1. Overview; 11.4.1.1. Key Management; 11.4.1.2. Headquarters; 11.4.1.3. Offerings/Business Segments; 11.4.2. Key Details (Key details are consolidated data and not product/service specific); 11.4.2.1. Employee Size; 11.4.2.2. Past and Current Revenue; 11.4.2.3. Geographical Share; 11.4.2.4. Business Segment Share; 11.4.2.5. Recent Developments; 11.5. Seagate Technology; 11.5.1. Overview; 11.5.1.1. Key Management; 11.5.1.2. Headquarters; 11.5.1.3. Offerings/Business Segments; 11.5.2. Key Details (Key details are consolidated data and not product/service specific); 11.5.2.1. Employee Size; 11.5.2.2. Past and Current Revenue; 11.5.2.3. Geographical Share; 11.5.2.4. Business Segment Share; 11.5.2.5. Recent Developments; 11.6. NetApp; 11.6.1. Overview; 11.6.1.1. Key Management; 11.6.1.2. Headquarters; 11.6.1.3. Offerings/Business Segments; 11.6.2. Key Details (Key details are consolidated data and not product/service specific); 11.6.2.1. Employee Size; 11.6.2.2. Past and Current Revenue; 11.6.2.3. Geographical Share; 11.6.2.4. Business Segment Share; 11.6.2.5. Recent Developments; 11.7. Intel Corporation; 11.7.1. Overview; 11.7.1.1. Key Management; 11.7.1.2. Headquarters; 11.7.1.3. Offerings/Business Segments; 11.7.2. Key Details (Key details are consolidated data and not product/service specific); 11.7.2.1. Employee Size; 11.7.2.2. Past and Current Revenue; 11.7.2.3. Geographical Share; 11.7.2.4. Business Segment Share; 11.7.2.5. Recent Developments; 11.8. Thales e-Security, Inc.; 11.8.1. Overview; 11.8.1.1. Key Management; 11.8.1.2. Headquarters; 11.8.1.3. Offerings/Business Segments; 11.8.2. Key Details (Key details are consolidated data and not product/service specific); 11.8.2.1. Employee Size; 11.8.2.2. Past and Current Revenue; 11.8.2.3. Geographical Share; 11.8.2.4. Business Segment Share; 11.8.2.5. Recent Developments; 11.9. McAfee, LLC; 11.9.1. Overview; 11.9.1.1. Key Management; 11.9.1.2. Headquarters; 11.9.1.3. Offerings/Business Segments; 11.9.2. Key Details (Key details are consolidated data and not product/service specific); 11.9.2.1. Employee Size; 11.9.2.2. Past and Current Revenue; 11.9.2.3. Geographical Share; 11.9.2.4. Business Segment Share; 11.9.2.5. Recent Developments; 11.10. Maxim Integrated Products; 11.10.1. Overview; 11.10.1.1. Key Management; 11.10.1.2. Headquarters; 11.10.1.3. Offerings/Business Segments; 11.10.2. Key Details (Key details are consolidated data and not product/service specific); 11.10.2.1. Employee Size; 11.10.2.2. Past and Current Revenue; 11.10.2.3. Geographical Share; 11.10.2.4. Business Segment Share; 11.10.2.5. Recent Developments
12. Key Takeaways