Hardware Encryption Market

Market Leaders- Top Hardware Encryption

The global hardware encryption market is projected to grow from USD 271 million in 2022 to USD 357 million by 2027, at a CAGR of 4.8% during the forecast period from 2022 to 2027. The growth of this market is driven by factors such as increasing apprehension over data security and confidentiality, compliance with data privacy security regulations and standards, and development of digital content. However, heavy capital investments by stakeholders restrain the growth of the hardware encryption market.

Extensive acceptance of cloud computing, and substantial development and growth of IoT in various industries create opportunities for the hardware encryption market.

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The key players in the hardware encryption market include Western Digital Technologies, Inc. (US), Samsung Electronics Co., Ltd. (South Korea), Micron Technology, Inc. (US), Kingston Technology Corporation (US), Seagate Technology Holdings PLC (US), NetApp, Inc. (US), KIOXIA Holdings Corporation (Japan), Kanguru Solutions (US), Intel Corporation (US), WinMagic Inc. (Canada), Maxim Integrated Products, Inc. (US), Thales e-Security, Inc. (US), McAfee, LLC (US), Broadcom Inc. (US), International Business Machines Corporation (US), Micro Focus (UK), Giesecke+Devrient (Germany), IDEMIA (France), NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Check Point Software Technologies Ltd. (US), Sophos Group Plc (UK), ESET spol. s.r.o. (Slovak Republic), Trend Micro Incorporated (Japan), and Chipspirit (India).

Western Digital Technologies, Inc. is a well-known storage technology and solutions provider that enables people to create, leverage, experience, and preserve data. The company addresses the ever-changing market needs by providing compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility, and speed. The products are marketed under Western Digital, SanDisk, and WD brands to OEMs, distributors, resellers, cloud infrastructure providers, and consumers.

The company operates in three segments: Cloud, Client, and Consumer. The Cloud segment comprises products primarily for public or private cloud environments and enterprise customers, uniquely positioned to address as the only provider of both flash and hard drive products. The company provides the cloud end market with an array of high-capacity enterprise HDDs and high-performance enterprise SSDs and platforms. Through the Client segment, the company offers OEM and channel customers a broad array of high-performance flash and hard drive solutions across personal computers, mobile, gaming consoles, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Consumer segment includes a broad range of retail and other end-user products. The company offers consumers a portfolio of HDD and SSD embedded into external storage products and removable flash drives, which include cards, USB flash drives, and wireless drives, through the retail and channel routes to market.

The company competes with flash drive and HDD manufacturers for Cloud, Client, and Consumer end markets. In flash drive, the company competes with vertically integrated suppliers such as Kioxia Holdings Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., SK Hynix, Inc., Solidigm, Yangtze Memory Technologies Co., Ltd., and numerous smaller companies that assemble flash into products. In HDD, the company competes with Seagate Technology plc and Toshiba Electronic Devices & Storage Corporation.

Samsung Electronics Co., Ltd. is one of the leading developers and manufacturers of electronic devices and computer peripherals. It manufactures and develops infotainment systems, telematics, audio and visual products, etc. The company is a subsidiary of the South Korea-based Samsung Group, which has a wide range of businesses. It operates through four business divisions: Consumer Electronics (CE), Information Technology & Mobile Communications (IM), Device Solutions (DS), and Harman. The Consumer Electronics segment offers visual display products, digital appliances, health and medical equipment, air conditioners, and others. The Information Technology & Mobile Communications segment offers smartphones, tablets, and wearables. The Device Solutions segment provides dynamic random-access memory (DRAM) and NAND (NOT-AND) products, mobile application processors, camera sensor chips, etc. Through the Harman division, the company offers connected car systems, audio and visual products, and professional solutions, as well as connected services.

Samsung operates through manufacturing subsidiaries, sales subsidiaries, design centers, and R&D centers. Some of its major subsidiaries are Samsung Display (South Korea), Samsung Electronics America Inc. (US), Samsung Electronics Service (South Korea), Harman International (US), Samsung Display Co., Ltd. (South Korea), AKG (Austria), SmartThings (US), Samsung Electronics Canada Inc. (Canada), Samsung Electronics France (France), Samsung Electronics Philippines Corporation (Philippines), Shandong Samsung Telecommunication Co., Ltd. (China), and so on. The company’s resolute memory business unit extensively works to develop various DRAM and NAND products with higher densities.

Micron Technology, Inc. is one of the world’s leading manufacturers of semiconductor solutions. It manufactures and markets a range of dynamic random-access memory (DRAM), NAND Flash, and NOR Flash memory, as well as other memory technologies, packaging solutions, and semiconductor systems that are used in computing, consumer goods, networking, automotive, industrial, and embedded and mobile products. The company operates through five business segments, namely, Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), Embedded Business Unit (EBU), and All Other.

The company operates primarily in three regions, namely, the Americas, Europe, and Asia Pacific, with its manufacturing facilities located in Taiwan, Singapore, Japan, the US, Malaysia, and China. Some of the key competitors of Micron Technology, Inc. in the hardware encryption market are Intel; Kioxia Holdings Corporation (formerly Toshiba Memory Corporation); Samsung Electronics Co., Ltd.; SK Hynix Inc.; and Western Digital Corporation.

Related Reports:

Hardware Encryption Market by Product Type (External HDD, Internal HDD, SSD, Inline Network Encryptor, USB Flash Drive), Application (Consumer Electronics, Aerospace & Defense, Transportation, Healthcare) and Region – Forecast to 2027

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Hardware Encryption Market Size,  Share & Growth Report
Report Code
SE 1876
RI Published ON
12/7/2022
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