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Hardware Encryption Market worth 413.85 Billion USD by 2022

(IT-NEWSWIRE.COM, March 17, 2017 ) According to the new market research report on the "Hardware Encryption Market by Algorithm and Standard (AES and RSA), Architecture (FPGA and ASIC), Product (Internal and External Hard Disk Drive, Solid-State Drive, USB, and Inline Encryptor), Application, Vertical, and Geography - Global Forecast to 2022 ", this market is expected to be valued at USD 413.85 Billion by 2022, at a CAGR of 29.3% between 2016 and 2022. The major factors driving the growth of the hardware encryption market include increasing concern for data security issue and privacy of data, growing requirement of regulatory compliances, expansion of digital content, and significant advantage over software encryption technology.

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Browse 66 market data tables and 63 figures spread through 164 pages and in-depth TOC on “Hardware Encryption Market - Global Forecast to 2022"
http://www.marketsandmarkets.com/Market-Reports/hardware-based-encryption-systems-market-1115.html
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ASIC expected to have the largest market size by 2022

Application-specific integrated circuit (ASIC) accounted for the largest share of the hardware encryption market based on architecture segment in 2015. The growth of this market can be attributed to the huge demand for the processor based on ASIC design for the manufacturing of hardware-encrypted hard disk drives and USB drives, owing to their high speed and small form factor.

Hardware-encrypted solid-state drives market to grow at the highest rate during the forecast period

The hardware encryption market for solid-state drive based on product segment is likely to grow at the highest rate during the forecast period. Solid-state drive provides faster encryption compared to the hard disk drive devices, moreover, with the increasing data breaches and expansion of digital content, the market for solid-state drive is expected to grow at a higher rate than the other products.

BFSI application in hardware encryption to grow at the highest rate during the forecast period

The hardware encryption market for BFSI based on application is expected to grow at the highest rate between 2016 and 2022. This high market growth rate can be attributed to the increasing adoption of hardware-encrypted devices in various banking operation to prevent the data loss or financial fraud across the globe.

APAC likely to hold the largest share of the hardware encryption market during the forecast period

APAC is expected to hold the largest share of the hardware encryption market during the forecast period. The high growth of the market in this region can be attributed to the expansion of IT and telecommunication network in China, Thailand, Malaysia, South Korea, India, and other developing countries in APAC. Increasing smart cities project in various Asian countries are expected to boost the growth of hardware encryption market in APAC during the forecast period.

The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of big and small players have become a force to reckon with.

The key players in this market are Western Digital Corp. (U.S.), Samsung Electronics Co. Ltd. (South Korea), Seagate Technology PLC (Ireland), Micron Technology Inc. (U.S.), and Kingston Technology Corp. (U.S.), Toshiba Corp. (Japan), Kanguru Solutions (U.S.), Maxim Integrated Products, Inc. (U.S.), NetApp (U.S.), WinMagic Inc. (U.S.), Thales e-security (U.S.), and Gemalto NV. (Netherlands), among others.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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 incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" 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. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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