Skip to main content

Hardware Encryption Market Expected to Rise Steadily throughout 2029

Encryption is the process of scrambling sensitive information that is only readable by the intended recipient. Encryption is mainly performed by hardware or software devices using a series of algorithm or mathematical operations for generating the cypher text or the encrypted data. The recipient for whom the message is encrypted must have an electronic key for decrypting the data using a similar device further converting the data to its original readable form known as the clear text. This process of hardware encryption involves file being written in the drive that is further encrypted automatically using specialized software. After this as the file is read from the drive, there is a special software that automatically decrypts it further making it understandable by the recipient and functioning as any other normal computer. Hardware encryption as a technology prevents data from being accessed by unauthorized persons thereby providing an extra layer of security against hackers or from online threats. The global market for hardware encryption has been segmented into circuit design, product, application and geography. The global market on the basis of circuit design has been segmented into FPGA (Field Programmable Gate Array) and ASIC (Application Specific Integrated Circuit). On the basis of product the global market for hardware encryption has been segmented into USB flash drives, external hard disks, solid state drives and internal hard disks among others. Consumer electronics, healthcare, IT & telecom and aerospace & defense forms the major application areas for this market globally.
Global hardware encryption market on the basis of geography has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It is the optimization of the encryption feature with the rest of the drive that forms one of the major drivers aiding in the growth of this market. Use of software encryption involves lot of steps that is avoided in case hardware encryption further making the whole process faster leading to its rising applications globally. Another major factor pushing the growth of this market includes the all-time activation of these hardware encryption making it easier for the driver to meet the various government standards especially in applications across service sectors such as banking and financial institutions among others. This system further requires minimum configuration and interaction with users without effecting the overall performance of the system. This is especially helpful in case of protecting sensitive data without being worried about the data getting stolen or compromised by the hackers. After considering all these drivers, there are also certain restraints that has a negative impact on the overall market. One such factor is the high costs associated with its implementation while another factor being this hardware encryption tied to only one device rather than a complete system. Moreover, the updates in case of hardware encryption is also possible through device substitution further making it difficult for implementation. It is the growth of Internet of Things (IoT) technology and cloud services that is expected to provide numerous growth opportunities for this market in the coming years.
Geographically, it is North America followed by Europe that forms some of the major regions contributing to the overall growth of this market. Advent of cloud based services along with growth in IoT technology has also contributed to being some important factors contributing to the growth. Asia Pacific is another major region along with being one of the fastest one to grow globally with China, Korea, India and Japan being some of the key countries contributing to the growth. Growing internet penetration along with rise in demand for smartphones and tablets has also been some important factors contributing to the growth.
Some of the key players that are operating in the global hardware encryption market include Samsung Electronics Co. Ltd. (South Korea), Toshiba Corporation (Japan), Maxim Integrated Products Inc. (The U.S.), Micron Technology Inc. (The U.S.), IBM (The U.S.), Kingston Technology Corporation (The U.S.), Seagate Technology PLC (Ireland) and Western Digital Corporation (The U.S.) among others. 

Comments

Post a Comment

Popular posts from this blog

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...
1 comment
Read more

Data Science Platform Market Set to Witness Significant Growth in the Coming Years

Data Science Platform Market: Overview Big data, advance analytics and predictive modeling are now becoming indispensable part of business houses, who are striving to optimize decision-making and deliver value to customers. With rise in enormous data generated in various digital platforms and corresponding increase in use of various data analytics tool the phrase “data science platform” has been tossed around about a lot recently. Data science platforms are supposed to be an arena where plethora of various data scientists works are collected. In colloquial term, data science platform terms defines that it provides various algorithm integrated with analytical tools that help data analyst to cluster and explore data from varied sources, and further design and implement models. These models sought from data science platform helps in framing decisions and strategies. Data science platform assist wide array of various suite of tools that is being introduced subsequently implemented ...
Post a Comment
Read more

Harbor Management System Market: Market Scope and Size by Application

Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Through the graphical overview, harbor managers can also recognize if the vessels are moving toward each other, which can lead to a collision and can alert the vessels to divert their route a bit from t...
Post a Comment
Read more