San Francisco, California, September 29, 2017: The growing demand for protecting sensitive data on portable devices such as USB flash drives and laptops is propelling the global market for hardware encryption. Its robust protection against numerous less sophisticated and common attacks, consistent performance, and ease of use are generating demand among various industrial sectors. A new report by TMR Research, titled “Hardware Encryption Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” provides a 360 degree assessment of numerous factors affecting the market’s growth trajectory. This study provides projected market values for the global market over the forecast period. Furthermore, the market is segmented according to various categories to deliver a strong understanding of the market. Market shares of these segments and their estimated market values are also included. This report is contrived by extensive research of the market and both primary and secondary sources of information have been considered. The proven methods followed ensure the reliability and accuracy of the data to allow market investors strategize their plans accordingly.
Hardware encryption utilizes device’s on-board security, which enables the desired decryption and encryption. On the contrary to software-based encryption, it has minimal configuration requirements and doesn’t require drivers. The storage of confidential healthcare and financial data in mobile devices and the soaring use of mobile devices by several governmental agencies are bolstering the global market for hardware encryption. Tremendous expansion of the digital content and the rising concerns pertained to the privacy of data and data security are further envisioned to assist the market development. Furthermore, the rising need of regulatory framework and various advantages offered by hardware encryption over the software encryption technology are most likely to accelerate the growth of the overall market over the forecast period.
Although, the lack of awareness among customers regarding the benefits of hardware encryption and the need for high capital investment could restraint the growth, the rising adoption of cloud computing is most likely to help the market sustain its growth. This report sheds on light on several such trends and factors, which could influence the market trajectory either in positive or negative way. This inclusion of drivers and restraints will help the market players explore hidden opportunities and pitfalls present in the market.
On the basis of geography, the global hardware encryption market can be segmented into Asia Pacific, Latin America, North America, the Middle East and Africa, and Europe. Of these, Asia Pacific is most likely to showcase an impressive growth trajectory over the forecast period due to the rapid expansion of the IT industry. Contribution of countries such as South Korea, Malaysia, India, and China is foreseen to fuel the growth of the market within this region. Furthermore, the North America segment is envisioned to grow with a significant rate owing to the presence of large number of the market players. This geographical analysis will explain factors affecting the regional markets, which will allow market investors to invest in the most lucrative region. Present and projected market shares of these key regions and their market values throughout the forecast period have been formulated.
The global market for hardware encryption is anticipated to witness high intensity of competition in the forthcoming years. The prominent players in the market are striving to offer new products in order to maintain their dominant position and increase their market penetration. The publication has included an overall analysis of the competitive landscape of this market. Some of the prominent players in the market include Seagate Technology PLC, Western Digital Corp., Kingston Technology Corp., Winmagic Inc., Thales (E-Security), Kanguru Solutions, Samsung Electronics Co. Ltd., Micron Technology, Inc., Gemalto NV., Toshiba Corp., Maxim Integrated Products, Inc., and Netapp.
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