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Hardware Encryption Market by Product Type - Forecast to 2025

Hardware Encryption Market by Product Type (External HDD, Internal HDD, Solid-state drive, Inline Network Encryptor, USB Flash Drive), Application (Consumer Goods, Aerospace And Defense, Transportation, Healthcare, and Others) and Region - Forecast to 2025<br>

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Hardware Encryption Market by Product Type - Forecast to 2025

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  1. Hardware Encryption Market by Product Type - Forecast to 2025 The hardware encryption market is expected to be valued at USD 262 million in 2020 and reach USD 313 million by 2025, growing at a CAGR of 3.6%. The primary reasons for this rise in demand are the increasing demand for smartphones, online and digital content which is attracting the market for hardware encryption products and solutions. Solid- State drive product segment is expected to grow at the highest CAGR during the forecast period. With development in the technology related to Solid- State drive (SSD) for instance, the development of Self- encrypting drive (SED) used in SSD is one of the reasons for the growth of this product segment in the forecast period. Moreover, the usability and relatability of the product have attracted customers of various industries to adopt the use of SSDs. The market for consumer electronics application to share the largest market share in 2020. As smartphones, laptops, and computers are being manufactured in the assembly with hardware-enabled devices, the supply function has helped in the growth of hardware encryption. Many electronic devices are being mandatory to implement encryption to store confidential data, thus resulting growth of consumer electronics applications. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1115 India, by country, is expected to grow at the highest CAGR during the forecast period. India being a progressing in maintenance, repairing and operations of aircrafts, advancement in IT & Telecom infrastructure and an emerging hub for healthcare has led to the highest CAGR growth of India in the forecast period. Key market players Key players in the hardware encryption market include Western Digital (US), Samsung (South Korea) and Micron (US). Western Digital is a well-known player for providing innovative and advanced hardware encryption solutions and products in the hardware encryption market. Strong brand name and customer base are among the key factors that resulted in the leading position of Samsung in the hardware encryption market. Apart from the strong brand name and customer base, the company has strong R&D capabilities and geographic presence. Samsung focuses on strategies such as product launches and product development to strengthen its product portfolio and maintain its position in the hardware encryption market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model –GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of

  2. incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441

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