Hardware Encryption Market Research Report- Forecast to 2023

Market Synopsis

The rise in the global hardware encryption market size can be due to the growing need for
encryption as cybercrime surge. Innovations in hardware encryption devices can contribute to the
prior. Market Research Future (MRFR), in its latest published report states that the global hardware
encryption device market can rise exponentially.

The Hardware Encryption device market 2020 can pave its way to touch high value due to launch of
innovations. The high technology that encrypts stored data on a hard drive by the use of
sophisticated mathematical functions is gaining sheer popularity. The privacy offered by encrypted
hard drive and solid restrictions to access appropriate password can impel the expansion of the
market. The high resistance offered by hardware encryption to hackers and other threats, online can
spur the growth of the market. The automation feature for encrypted offered by specialized
software can also prompt the expansion of the market.

The mounting complexity, high volume of data breaches, and low cost of encryption are certain
potential drivers for the hardware encryption market growth. In addition, different advantages
provided by hardware encryption over software encryption technology can rise the need for
regulatory framework, which can be observed as factors that can accelerate the growth of the
overall hardware encryption market in the upcoming years.

Market Segment

The study of the global hardware encryption market is based on algorithm & standard, architecture,
application, product, and end users.

The hardware data encryption study segments are Product Specific Integrated Circuits (ASIC) and
Field Programmable Gate Arrays (FPGA).

The application based segments of the market are military & aerospace, BFSI, automotive,
healthcare, and others.

The algorithm and standard based segments of the market are Rivest- Shamir-Adleman (RSA)
Algorithm, Rivest- Shamir-Adleman (RSA) Algorithm, Digital Signature Algorithm (DSA), Secure Hash
Algorithm (SHA), Data Encryption Standard (DES), Digital Signature Algorithm (DSA), and Elliptic
Curve Cryptography (ECC).

The product based segments of the market are External Hard Disk Drives, Inline Network Encryptors,
Solid-State Drives, Internal Hard Disk Drives, and USB Flash Drives.

The end-user based segments are commercial, industrial, government agencies, and industrial.
Regional Study

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The competitive landscape of world hardware encryption market comprises reputed players of the
market and some emerging new entrants. The hardware encryption global market can is driven by
the high importance of hardware encryption device in BFSI, healthcare, military & aerospace, IT &
Telecom sectors. In North America, the hardware encryption market is likely to head the global
hardware encryption market. Robust advancements in technology are observed by the region. A
reputed American company that deals in computer data storage, Western Digital Corporation,

introduced its product My Book Duo external hard drive that features 20 TB storage in both raid zero
and one configuration, along with USB-C and USB-A ports. My Book offers read speeds of 360
MB/sec. Its redundancy, low risk of data loss, high security with 256-bit AES encryption, can drive
the market rise. In addition, hardware encryption device allows to set password that can activate the
system, thus cause data protection. The high utility of hardware encryption system in data storage
for businesses, home users, and for creative professionals, such as photo and video and producers,
and editors can prompt the market growth.

Key Players

• Samsung Electronics (South Korea)
  
• Western Digital Corporation (U.S.)
  
• Micron Technology Inc. (U.S.)
  
• Toshiba Corporation (Japan)
  
• Seagate Technology PLC (Ireland)
  
• Kingston Technology Corp. (U.S.)
  
• Micron Technology Inc. (U.S.)
  
• Kanguru Solutions (U.S.)
  
• Maxim Integrated Products, Inc. (U.S.)
  
• Thales e-security (U.S.)
  
• NetApp (U.S.)
  
• WinMagic Inc. (U.S.).

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