U.S. Hardware Encryption Market Analysis 2020 | Industry Updates, Major Key Players, Size, Demand, Growth and Future Prospects To 2027

Hardware encryption is a hardware-based technique which is used for securing digital data. There are two forms of encryption; hardware-based encryption and software-based encryption. Hardware encryption uses a processor that contains random number of generators to generate encryption key. The key advantage of hardware-based solutions is that they eliminate the typical drawbacks of software-based solutions such as performance degradation for attacks aimed at the encryption key stored in memory. In hardware encryption, the security parameters and safeguard keys enhance the performance of encryption. These security parameters protect the encryption from cold boots and brute force attacks. Hardware encryption is a cost-effective method that holds diverse applications in securing data efficiently.

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The report analyzes the profiles of key players operating in the market, which include International Business Machines (IBM) Corporation, Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Samsung Electronics Co., Ltd., Seagate Technology LLC, Symantec Corporation, Toshiba Corporation, and Western Digital Technologies, Inc.

Increase in regulatory compliances regarding protection of private & sensitive data and reduction in prices of hardware encryption devices majorly drive the growth of the market. Moreover, factors such as increase in concerns related to data security and privacy, growth of the consumer electronics such as smartphones and tablets and increase in complexity & volume of data breaches and brute force attacks drive the growth of the market. However, high capital investment and limited use of encrypted devices in the U.S. hinder the market growth. On the contrary, widespread adoption of Internet of Things (IoT) technology and cloud services as well as technological advancement on encryption chip are anticipated to offer lucrative opportunities for the market.

The U.S. hardware encryption market is segmented into algorithm & standard, architecture, product, application, and end use. Depending on algorithm and standard, the market is bifurcated into Rivest, Shamir, and Adelman (RSA), Advanced Encryption Standard (AES), and others. On the basis of architecture, it is classified into Application-Specific Integrated Circuit (ASIC) and Field-Programmable Gate Array (FPGA).

The product segment includes Hard Disk Drive (HDD), Solid State Drives (SSD), Universal Serial Bus (USB), and incline network encryptor. By application, the market is categorized into consumer electronics, IT & telecom, automotive & transportation, aerospace and defense, healthcare and others. The end use segment is segregated into industrial, commercial, residential, and government.

KEY BENEFITS FOR STAKEHOLDERS

- The study provides an in-depth analysis of the U.S. hardware encryption market trends to elucidate the imminent investment pockets.

- Information about key drivers, restraints, and opportunities and their impact analyses on the U.S. hardware encryption market size is provided.

- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the U.S. hardware encryption industry.

- The quantitative analysis of the market from 2014 to 2026 is provided to determine the U.S. hardware encryption market potential.

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KEY MARKET SEGMENTS
By Algorithm & Standard
- Rivest, Shamir, and Adelman (RSA)
- Advanced Encryption Standard (AES)
- Others

By Architecture
- Application-Specific Integrated Circuit (ASIC)
- Field-Programmable Gate Array (FPGA)

By Product
- Hard Disk Drive (HDD)
o External HDD
o Internal HDD
- Solid State Drives (SSD)
- Universal Serial Bus (USB)
o Up to 4GB
o 5GB to 16GB
o 17GB to 64GB
o 65GB and above
- Inline Network Encryptor

By Application
- Consumer electronics
- IT & Telecom
- Automotive & Transportation
- Aerospace and Defense
- Healthcare
- Others

By End Use
- Industrial
- Commercial
- Residential
- Government

BY REGION
- North America
o U.S.
o Canada
- Europe
o Germany
o France
o UK
o Rest of Europe

- Asia-Pacific
o Japan
o China
o India
o Rest of Asia-Pacific

- LAMEA
o Latin America
o Middle East
o Africa

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This release was published on openPR.