Hardware Encryption Market was valued at US$ 249.91 Mn. in 2021. Global Hardware Encryption Market size is estimated to grow at a CAGR of 6.21%.
Hardware Encryption Market Overview
Maximize Market Research a business consulting firm has published a business intelligence report on Hardware Encryption Market. The report covers the in depth analysis of the market and provides the market overview through common subjects that are highlighted with the unique data based on the need. It also helps in determining the future potential of the Hardware Encryption Market in upcoming next few years during the forecast period. The report provides us the dominant market drivers and the restraints and good opportunities as well as challenges.
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Market Scope
The report published emphasizes the micro and the macro market insights of manufacturers, suppliers, distributors, and investors in the global market. The research are conducted on primary and secondary basis which gives the best strategies for investment in the market globally. It focuses on the major key players and dominant regions of the market. It covers the market trends and future insights in terms of demand and supply chain, sales as well as recent changes in economic and political effects on the market.
Segmentation
During the forecast period, the solid-state drives (SSD) segment is anticipated to grow at a CAGR of over 6.45%. The expansion of digital content and the rise in data breaches are two factors that are anticipated to fuel market expansion. The demand for solid-state drives is anticipated to be driven by an increase in the uptake of high-end cloud computing, the adoption of SSDs in data centres, and the benefits of SSDs over HDDs. With the emergence of new cloud platforms, including personal clouds in homes and traditional corporate private and public clouds, the demand for solid-state drives is rising quickly. This trend is also anticipated to increase demand for hardware encryption.
The consumer electronics sector was in the lead in 2021, and it is anticipated that it will remain in the lead throughout the forecast period. Consumer demand for new features to adjust to shifting realities is driving the consumer electronics industry's rapid evolution. The hardware encryption technology advances along with the increase in the demand for data centres. The hardware-enabled devices were used in the assembly line manufacturing of smartphones, laptops, and computers. The growth of hardware encryption has been aided by the supply function of hardware devices. The demand for hardware encryption consumer electronics applications is anticipated to rise as encryption for the storage of confidential data becomes mandatory.
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Key Players
• Samsung Electronics
• Toshiba Corporation
• Western Digital Corporation
• Seagate Technology PLC
• Kingston Technology Corp.
• Micron Technology Inc.
• Kanguru Solutions
• Maxim Integrated Products, Inc.
• NetApp
• Win Magic Inc.
• Thales e-security
• Gemalto NV.
• IBM Corporation
• McAfee, LLC
• Symantec Corporation
• KIOXIA HOLDINGS CORPORATION
• BROADCOM
Regional Analysis
Hardware Encryption Region dominated the Hardware Encryption market in 2021 and is expected to grow more significantly during the forecasted period. The geographical influence to the market is also undertaken while analysing the market to gain a better perspective and understanding of the market and target audience. The massive growth in the industry coupled with the rising population and the demand in the region is influencing the market growth.
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Hardware Encryption Market , Hardware Encryption Market Opportunities , Hardware Encryption Market Business
Mar 09, 2023