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
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Request For Special PricingThe hardware encryption market is expected to have a high growth during the forecast period. The overall market is expected to be valued at USD 413.85 Billion by 2022 from USD 58.46 Billion in 2015, at a CAGR of 29.3% between 2016 and 2022 The base year considered for the study is 2015 and the forecast period provided is between 2016 and 2022. The objective of the report is to provide a detailed analysis of the market based on algorithm & standard, architectures, products, application, verticals, and geography; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges); and detailed value chain and Porters five forces analysis. In addition, its objective is to strategically profile the key players and comprehensively analyze their market rank and core competencies, along with detailing the competitive landscape for market player, and new product launches, acquisitions, partnerships, expansion, agreement, contract, alliance and collaboration in the market.
The research methodology used to estimate and forecast the size of the hardware encryption market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources used in this research include information from various journals and databases such as IEEE journals, Factiva, Hoovers, and OneSource. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall market size of the market from the revenue of the key players in the market. This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The analysis of the hardware encryption market includes extensive primary research to gather information and verify and validate the critical conclusions arrived at after an extensive secondary research.
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure below shows the breakdown of the primaries conducted during the research study on the basis of company, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
The hardware encryption ecosystem comprises hardware encryption manufacturers such as Western Digital Corp. (U.S.), Samsung Electronics Co. Ltd. (South Korea), Seagate Technology PLC (Ireland), Kingston Technology Corp. (U.S.), Micron Technology Inc. (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).
The target audience for the report includes:
- Raw material & manufacturing equipment suppliers
- Electronic design automation (EDA) & design tool vendors
- Integrated device manufacturers (IDMs)
- Hardware encryption foundry players
- Hardware encryption fabless players
- Hardware encryption intellectual property players
- Hardware encryption technology platform developers
- Hardware encryption semiconductor device manufacturers
- Hardware encryption component manufacturers
- Hardware encryption product manufacturers (ODMs)
- Hardware encryption original equipment manufacturers (OEMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Distributors and traders
- Research organizations
- Organization, forums, alliances, and associations
The study answers several questions for the stakeholders, primarily, which market segments to focus on in the next two to five years for prioritizing efforts and investments.
The market covered under this report has been segmented as follows:
Hardware Encryption Market, by Algorithm and Standard:
- Advanced Encryption Standard (AES)
- Rivest- Shamir-Adleman (RSA) Algorithm
- Others
- Data Encryption Standard (DES)
- Secure Hash Algorithm (SHA)
- Elliptic Curve Cryptography (ECC)
- Digital Signature Algorithm (DSA)
Hardware Encryption Market, by Architectures
- Field-Programmable Gate Arrays (FPGA)
- Application-Specific Integrated Circuits (ASIC)
Hardware Encryption Market, by Product
- External Hard Disk Drives
- Internal Hard Disk Drives
- Solid-State Drives
- Inline Network Encryptors
- USB Flash Drives
Hardware Encryption Market, by Application
- Consumer Electronics
- IT & Telecom
- Transportation
- Aerospace and Defense
- Healthcare
- BFSI
- Others
Hardware Encryption Market, by Geography
- Americas
- U.S.
- Rest of North America (Canada and Mexico)
- South America
- Europe
- U.K.
- Germany
- France
- Rest of Europe (Italy, Sweden, Switzerland, Italy, Finland, the Netherlands, Belgium, and Turkey among others)
- APAC
- China
- Japan
- South Korea
- India
- Rest of APAC (Taiwan, Singapore, Australia, Thailand, and Malaysia among others)
- RoW
- Middle East
- Africa
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:
Algorithm & Standard Analysis
- Further breakdown of the algorithm & standard segment, by architecture, products, application, verticals, and geography
Architectures Analysis
- Further breakdown of the architecture segment, by products
Application Analysis
- Further breakdown of the application segment, by geography
Vertical Analysis
- Further breakdown of the vertical segment, by products and application
Geographic Analysis
- Further breakdown of the geography segment, by application
Company Information
- Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
The hardware encryption 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 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
This report segments the hardware encryption market on the basis of algorithm and standard, architecture, products, application, vertical, and geography. The market for advanced encryption standard (AES) is expected to witness a significant growth during the forecast period. The significant growth of this segment can be attributed to the wide acceptance of AES as a highly secure and fast algorithm for encryption.
The application-specific integrated circuit (ASIC) accounted the largest share of the hardware encryption market 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.
The solid- state drive market for product segment is expected to grow at the highest rate between 2016 and 2022. Solid-state drive provides faster encryption compared to the hard disk drive devices; with the increasing data breaches and expansion of digital content the market for solid-state drive is expected to grow faster than the other products.
The hardware encryption market for consumer electronics is expected to hold the largest share during the forecast period. This can be attributed to the growing demand of hardware encryption in consumer electronics such as laptop, tablets, and smartphones and also due to increasing concern for the data security in these devices.
The hardware encryption market for government vertical is expected to grow at the highest rate between 2016 and 2022. This can be attributed to the increasing demand for high-level encryption solutions required to secure top-secret government data in countries across the globe.
Americas accounted for the largest share of the overall hardware encryption market in 2015. This can be attributed to the large number of automation projects, smart cities projects, huge defense expenditure, advanced healthcare facilities, connected living environment, and huge reliance on e-commerce in the region.
Huge capital investment required in the installation and maintenance of hardware-based encryption technology are the key restraining factor for the growth of the hardware encryption market. Total installation cost of hardware encryption technology includes licensing cost, annual maintenance cost, OPAL fees, pre-provisioning cost, staging cost, technical cost for password reset, user idle time cost for encryption, user excess operating cost, technical cost for the assistance of expert administration to encrypted drives.
The key players in the hardware encryption market include 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. (The Netherlands).
These players adopted various strategies such as new product launches, acquisitions, partnerships, expansion, agreement, contract, alliance and collaboration to grow in the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Vertical Scope
1.3.3 Geographic Scope
1.3.4 Years Considered for the Study
1.4 Currency
1.5 Market Size
1.6 Limitations
1.7 Market Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand-Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply-Side)
2.2.3 Market Ranking Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 30)
4 Premium Insights (Page No. - 36)
4.1 Attractive Market Opportunities in Global Hardware Encryption Market
4.2 Market, By Algorithm &Standard
4.3 Market, By Product and Application
4.4 Country-Wise Analysis of Global Market
4.5 Global Hardware Encryption Market Size, By Region
4.6 Market, By Vertical
4.7 Market Life Cycle Analysis, By Product (2016)
5 Market Overview (Page No. - 41)
5.1 Introduction
5.2 Market Segmentation
5.2.1 Hardware Encryption Market, By Algorithm & Standard
5.2.2 Market, By Architecture
5.2.3 Market, By Product
5.2.4 Market, By Application
5.2.5 Market, By Vertical
5.2.6 By Geography
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growing Concern Over Data Security and Privacy
5.3.1.2 Growing Requirement for Regulatory Compliances
5.3.1.3 Expansion of Digital Content
5.3.1.4 Significant Advantage Over Software Encryption Technology
5.3.2 Restraints
5.3.2.1 High Capital Investment
5.3.3 Opportunities
5.3.3.1 Widespread Adoption of Cloud Computing
5.3.3.2 Significant Development and Expansion of Iot in Various Applications
5.3.3.3 Introduction of Compact and Economical Hardware Encryption Techniques
5.3.4 Challenges
5.3.4.1 Lack of Customer Awareness
6 Industry Trends (Page No. - 50)
6.1 Introduction
6.2 Value Chain Analysis
6.3 Porters Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Competitive Rivalry
7 Hardware Encryption Market, By Algorithm & Standard (Page No. - 59)
7.1 Introduction
7.2 AES
7.3 Rsa Algorithm
7.4 Others
7.4.1 DES
7.4.2 SHA
7.4.3 ECC
7.4.4 DSA
8 Hardware Encryption Market, By Architecture (Page No. - 65)
8.1 Introduction
8.2 FPGA
8.3 ASIC
9 Hardware Encryption Market, By Product (Page No. - 69)
9.1 Introduction
9.2 External HDD
9.3 Internal HDD
9.4 SSD
9.5 INE
9.6 USB Flash Drive
10 Hardware Encryption Market, By Application (Page No. - 78)
10.1 Introduction
10.2 Consumer Electronics
10.3 IT & Telecom
10.4 Transportation
10.5 Aerospace & Defense
10.6 Healthcare
10.7 BFSI
10.8 Others
11 Hardware Encryption Market, By Vertical (Page No. - 92)
11.1 Introduction
11.2 Industrial
11.3 Commercial
11.4 Residential
11.5 Government
12 Global Hardware Encryption Market, By Geography (Page No. - 100)
12.1 Introduction
12.2 Americas
12.2.1 U.S.
12.2.2 Rest of North America
12.2.3 South America
12.3 Europe
12.3.1 U.K.
12.3.2 Germany
12.3.3 France
12.3.4 Rest of Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 Japan
12.4.3 South Korea
12.4.4 India
12.4.5 Rest of APAC
12.5 RoW
12.5.1 Middle East
12.5.2 Africa
13 Competitive Landscape (Page No. - 116)
13.1 Overview
13.2 Market Rank Analysis
13.3 Competitive Scenario
13.3.1 New Product Launches
13.3.2 Acquisitions & Partnerships
13.3.3 Expansions, Agreements, Contracts, Alliances, and Collaborations
14 Company Profiles (Page No. - 121)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
14.1 Introduction
14.2 Western Digital Corp.
14.3 Samsung Electronics Co. Ltd.
14.4 Seagate Technology PLC
14.5 Micron Technology, Inc.
14.6 Kingston Technology Corp.
14.7 Toshiba Corp.
14.8 Kanguru Solutions
14.9 Winmagic Inc.
14.10 Maxim Integrated Products, Inc.
14.11 Netapp
14.12 Gemalto NV.
14.13 Thales (E-Security)
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix (Page No. - 152)
15.1 Insights of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets Subscription Portal
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customizations
15.6 Related Reports
15.7 Author Details
List of Tables (66 Tables)
Table 1 List of Regulatory Compliances for Data Protection
Table 2 Porters Five Forces Analysis With Their Weightage Impact
Table 3 Hardware Encryption Market, By Algorithm & Standard, 20132022 (USD Billion)
Table 4 Market, By Algorithm & Standard, 20132022 (Million Units)
Table 5 Hardware Encryption Market, By Architecture, 20132022 (USD Billion)
Table 6 Market, By Architecture, 20132022 (Million Units)
Table 7 Market, By Product, 20132022 (USD Billion)
Table 8 Market, By Product, 20132022 (Million Units)
Table 9 Global Hardware Encryption Market for External HDD, By Region, 20132022 (USD Billion)
Table 10 Global Market for External HDD, By Region, 20132022 (Million Units)
Table 11 Global Market for Internal HDD, By Region, 20132022 (USD Billion)
Table 12 Global Market for Internal HDD, By Region, 20132022 (Million Units)
Table 13 Global Market for SSD, By Region, 20132022 (USD Billion)
Table 14 Global Market for SSD, By Region, 20132022 (Million Units)
Table 15 Global Hardware Encryption Market for INE, By Region, 20132022 (USD Billion)
Table 16 Global Market for INE, By Region, 20132022 (Million Units)
Table 17 Global Market for USB Flash Drive, By Region, 20132022 (USD Billion)
Table 18 Global Market for USB Flash Drive, By Region, 20132022 (Million Units)
Table 19 Hardware Encryption Market, By Application, 20132022 (USD Billion)
Table 20 Market, By Application, 20132022 (Million Units)
Table 21 Market for Consumer Electronics Application, By Product, 20132022 (USD Billion)
Table 22 Market for Consumer Electronics Application, By Product, 20132022 (Million Units)
Table 23 Hardware Encryption Market for IT & Telecom Application, By Product, 20132022 (USD Billion)
Table 24 Market for IT & Telecom Application, By Product, 20132022 (Million Units)
Table 25 Market for Transportation Application, By Product, 20132022 (USD Billion)
Table 26 Market for Transportation Application, By Product, 20132022 (Million Units)
Table 27 Hardware Encryption Market for Aerospace & Defense Application, By Product, 20132022 (USD Billion)
Table 28 Market for Aerospace & Defense Application, By Product, 20132022 (Million Units)
Table 29 Market for Healthcare Application, By Product, 20132022 (USD Billion)
Table 30 Market for Healthcare Application, By Product, 20132022 (Million Units)
Table 31 Hardware Encryption Market for BFSI Application, By Product, 20132022 (USD Billion)
Table 32 Market for BFSI Application, By Product, 20132022 (Million Units)
Table 33 Market for Others Application Segment, By Product, 20132022 (USD Billion)
Table 34 Market for Others Application Segment, By Product, 20132022 (Million Units)
Table 35 Hardware Encryption Market, By Vertical, 20132022 (USD Billion)
Table 36 Market, By Vertical, 20132022 (Million Units)
Table 37 Market for Industrial Vertical, By Product, 20132022 (USD Billion)
Table 38 Market for Industrial Vertical, By Product, 20132022 (Million Units)
Table 39 Hardware Encryption Market for Commercial Vertical, By Product, 20132022 (USD Billion)
Table 40 Market for Commercial Vertical, By Product, 20132022 (Million Units)
Table 41 Market for Residential Vertical, By Product, 20132022 (USD Billion)
Table 42 Market for Residential Vertical, By Product, 20132022 (Million Units)
Table 43 Hardware Encryption Market for Government Vertical, By Product, 20132022 (USD Billion)
Table 44 Market for Government Vertical, By Product, 20132022 (Million Units)
Table 45 Global Hardware Encryption Market, By Region, 20132022 (USD Billion)
Table 46 Global Market, By Region, 20132022 (Million Units)
Table 47 Market in Americas, By Country, 20132022 (USD Billion)
Table 48 Market in Americas, By Country, 0132022 (Million Units)
Table 49 Market in Americas, By Product, 20132022 (USD Billion)
Table 50 Market in Americas, By Product, 20132022 (Million Units)
Table 51 Hardware Encryption Market in Europe, By Country, 20132022 (USD Billion)
Table 52 Market in Europe, By Country, 20132022 (Million Units)
Table 53 Market in Europe, By Product, 20132022 (USD Billion)
Table 54 Market in Europe, By Product, 20132022 (Million Units)
Table 55 Market in APAC, By Country, 20132022 (USD Billion)
Table 56 Market in APAC, By Country, 20132022 (Million Units)
Table 57 Market in APAC, By Product, 20132022 (USD Billion)
Table 58 Market in APAC, By Product, 20132022 (Million Units)
Table 59 Hardware Encryption Market in RoW, By Region, 20132022 (USD Billion)
Table 60 Market in RoW, By Region, 20132022 (Million Units)
Table 61 Market in RoW, By Product, 20132022 (USD Billion)
Table 62 Market in RoW, By Product, 20132022 (Million Units)
Table 63 Top 5 Players in the Hardware Encryption Market, 2015
Table 64 10 Most Recent New Product Launches in the Market
Table 65 10 Most Recent Acquisitions & Partnerships in the Market
Table 66 5 Most Recent Expansions, Agreements, Contracts, Alliances, and Collaborations in the Market
List of Figures (63 Figures)
Figure 1 Hardware Encryption Market: Research Design
Figure 2 Process Flow
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown & Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 AES Held Largest Share in Market, By Algorithm & Standard in 2016, While FPGA to Record Highest Growth in Market, By Architecture, Between 2016-2022
Figure 8 SSD Product Segment to Record Highest Growth in Market Between 2016-2022 (USD Billion)
Figure 9 BFSI and IT & Telecom Applications to Record Highest Growth in Market Between 2016-2022
Figure 10 Government Vertical to Record Highest Growth in Hardware Encryption Market Between 2016-2022 (USD Billion)
Figure 11 APAC Region to Record Highest Growth in Global Market Between 2016-2022
Figure 12 Growing Concern Over Security and Privacy of Data to Drive Global Demand for Hardware Encryption Between 2016-2022
Figure 13 AES to Dominate Market, By Algorithm and Standard, Between 2016-2022
Figure 14 INE Product and Consumer Electronics Application Segments to Hold Largest Share of Market in 2016
Figure 15 U.S. to Hold Largest Share of Global Market, By Country, in 2016
Figure 16 APAC to Record Highest Growth in Global Market, By Region, Between 2016-2022
Figure 17 Government Vertical to Hold Largest Share of Market Between 2016-2022
Figure 18 SSD Product Segment to Enter Growth Stage and Record Highest Growth in Near Future
Figure 19 Global Hardware Encryption Market, By Geography
Figure 20 Market Dynamics
Figure 21 Number of Data Breaches in the U.S. Between 20102016 (Million)
Figure 22 Value Chain Analysis: Major Value Addition Occurs During Original Equipment Manufacturing and System Integration Phases
Figure 23 Porters Five Forces Model for Market, 2016
Figure 24 Porters Five Forces Analysis
Figure 25 Medium Impact of Threat of New Entrants Owing to High Growth of Market
Figure 26 Low Impact of Threat of Substitutes on Market Due to Lack of Viable Alternatives
Figure 27 Medium Impact of Bargaining Power of Suppliers Due to Moderate Supplier Concentration
Figure 28 Medium Impact of Bargaining Power of Buyers Due to Low Switching Cost
Figure 29 Intense Competitive Rivalry Due to High Growth of Hardware Encryption Market
Figure 30 AES to Record Highest Growth in Market, By Algorithm & Standard, Between 2016-2022 (USD Billion)
Figure 31 ASP of Hardware-Encrypted Devices, By Algorithm & Standard, 20132022 (USD)
Figure 32 FPGA to Record Highest Growth in Market, By Architecture, Between 2016-2022
Figure 33 ASP of Hardware-Encrypted Devices, By Architecture, 20132022 (USD)
Figure 34 SSD Product Segment to Record Highest Growth in Hardware Encryption Market Between 2016-2022
Figure 35 ASP of Hardware-Encrypted Devices, By Product, 20132022 (USD)
Figure 36 BFSI Application to Record Highest Growth in Market Between 2016-2022 (USD Billion)
Figure 37 ASP of Hardware-Encrypted Devices, By Application, 20132022 (USD)
Figure 38 Government Vertical to Record Highest Growth in Market Between 2016-2022 (USD Billion)
Figure 39 ASP of Hardware-Encrypted Devices, By Vertical, 20132022 (USD)
Figure 40 Geographical Snapshot: Global Hardware Encryption Market
Figure 41 ASP of Hardware-Encrypted Devices, By Region, 20132022 (USD)
Figure 42 Snapshot of Hardware Encryption Market in the Americas
Figure 43 Snapshot of Market in Europe
Figure 44 Snapshot of Market in the APAC
Figure 45 Snapshot of Market in the RoW
Figure 46 Companies Adopted New Product Launches as the Key Growth Strategy Between January 2014 and October 2016
Figure 47 Hardware Encryption Market Evaluation Framework
Figure 48 Battle for Market Share
Figure 49 Geographic Revenue Mix of Major Players in Global Market
Figure 50 Western Digital Corp.: Company Snapshot
Figure 51 Western Digital Corp.: SWOT Analysis
Figure 52 Samsung Electronics Co. Ltd.: Company Snapshot
Figure 53 Samsung Electronics Co. Ltd.: SWOT Analysis
Figure 54 Seagate Technology PLC: Company Snapshot
Figure 55 Seagate Technology PLC: SWOT Analysis
Figure 56 Micron Technology Inc.: Company Snapshot
Figure 57 Micron Technology Inc.: SWOT Analysis
Figure 58 Kingston Technology Corp.: SWOT Analysis
Figure 59 Toshiba Corp.: Company Snapshot
Figure 60 Maxim Integrated Products, Inc.: Company Snapshot
Figure 61 Netapp: Company Snapshot
Figure 62 Gemalto NV.: Company Snapshot
Figure 63 Thales E-Security: Company Snapshot
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Growth opportunities and latent adjacency in Hardware Encryption Market