US Hardware Encryption Market; By Application (Healthcare, Automotive & Transportation, Consumer Electronics, Aerospace & Defense, Government &Public Utilities, BFSI, IT & Telecom and Others); By Product Type (Universal Serial Bus (USB), Solid-state Drives (SSD), Hard Disk Drive (HDD) and Inline Network Encryptor); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Encryption is a scrambling mechanism that can only be read by the appropriate receiver. Encryption is primarily carried out using hardware or software to produce text or encrypted information using a variety of algorithms or mathematical processes. An E-key is required to decrypt the data by using a similar tool to translate the data to an original readable form called plain text by a recipient to whom the information is encrypted.
Fatpos Global anticipates the US Hardware Encryption market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. According to the report, the growth of the market is driven mainly by the rise in regulatory enforcement concerning the security of private and confidential data and a decrease in hardware encryption products costs.
US Hardware Encryption Market: Segments
US market has been segmented on the basis of product type, application, and by location. It has been further segmented by countries into Northern, Eastern, western and southern region.
By technique type (in %), US Hardware Encryption Market, 2019
The HDD segment is anticipated to register XX% of the volume share.
SDD segment is poised to grow at a significant CAGR during the forecasted period.
US Hardware Encryption Market is segmented by Product type into: Universal Serial Bus (USB), Solid-state Drives (SSD), Hard Disk Drive (HDD) and Inline Network Encryptor. The hard disk drive (HDD) segment was dominant in 2018, and it is predicted that this trend will continue during the predicted time span. This is due to the growing usage of secondary storage HDD as it provides high storage capacity at lower prices which drives overall growth. Nonetheless, during the forecast period, the category Solid State Drives (SSD) is expected to be the highest CAGR, due to an upsurge in data violations and the relentless expansion of digital material.
US Hardware Encryption Market: Market Dynamics
• Increase in trend of BYOD
Many organizations are focusing on bring your own device, this gives the access of company’s network and system bringing company’s security at stake. The use of Hardware encryption plays a major role in elimination such threats.
• Lack of awareness
The major concern for the market growth is the lack of awareness. Many organizations are struggling with data breach and threats to the security because of insufficient knowledge. Most organization connects to open network unknown of the threats it can cause.
Us Hardware Encryption Market: Regions
The present situation drives the growth of the US hardware encryption market through factors such as decreased cost disparities between hardware encrypted products and non-hardware encrypted products, multiple and difficult regulatory and enforcement requirements. Various encrypted hardware producers aim to develop encrypted keys at lower costs; they are customized to meet end-user specifications. In several countries around the world, government policies and legislation have been implemented in favor of the use by businesses and consumers of hardware-encrypted items. Moreover, the introduction of cloud-based services and advancement of IoT technologies have also led to the growth of the market.
Us Hardware Encryption Market: Competitive landscape
Hardware encryption key players operating in the United States have seen strong hardware encryption operating profit opportunities, especially due to the growing number of cyber-attacks in the region. This research covers analysis, patterns and potential predictions of the demand for hardware encryption for eventual investment shelves.
Us Hardware Encryption Market: Key Players
• Western Digital Corp. (U.S.)
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Kingston Technology Corp. (U.S.)
• Kanguru Solutions (U.S.)
• WinMagic Inc. (U.S.)
• NetApp (U.S.)
• Micron Technology Inc. (U.S)
• Thales e-security (U.S.)
• Maxim Integrated Products, Inc. (U.S.)
• Seagate Technology LLC
• Samsung Electronics Co., Ltd.
• Other prominent players
Us Hardware Encryption market report also contains analysis on:
• Us Hardware Encryption Market Segments:
o By Product type:
Universal Serial Bus (USB)
Solid-state Drives (SSD)
Hard Disk Drive (HDD)
Inline Network Encryptor
o By application:
Automotive & Transportation
Aerospace & Defense
Government &Public Utilities
IT & Telecom
• US Hardware Encryption Market Dynamics
• US Hardware Encryption Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints