Hardware Encryption Market

Key Revenue Pockets - Hardware Encryption Market

The `hardware encryption market is expected to be valued at USD 262 million in 2020 and reach USD 313 million by 2025, growing at a CAGR of 3.6%. The market is driven by the increasing adoption of internet users for digital content and growing concerns over.

The hardware encryption market for ASIC architecture is expected to share the largest market share during the forecast period. The flexibility and agility provided by this type of architecture make it apt for products such as hard disk drives (HDDs) and universal serial bus (USB) flash drives.

The transportation application is expected to record the highest CAGR in the hardware encryption market in the forecast period, motivated by the mounting acceptance of hardware encryption products in the transportation industry globally. Countries across the world are offering numerous untapped scope in the areas of electric vehicles, management information system, parking availability systems, traffic enforcement cameras, and collision avoidance systems.

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The inline network encryptor (INE) product segment held the largest share of the hardware encryption market. Inline network encryptors are devices that are coupled between a hard drive and the associated processor so that all the information that is warehoused on the drive is encrypted. INE provides companies with file-based storage with its own file systems based on a TCP/IP connection network.

APAC region is projected to considerable growth in CAGR in the hardware encryption market during the forecast period. Some of the factors for the fastest growth in APAC is the advanced manufacturing capabilities in countries such as China, Japan, and India, investments in research and development and a huge pool of customer base to cater electronics products and transportation infrastructure in the region.

Related Reports:

Hardware Encryption Market by Product Type (External HDD, Internal HDD, Solid-state drive, Inline Network Encryptor, USB Flash Drive), Application (Consumer Goods, Aerospace And Defense, Transportation, Healthcare, and Others) and Region - Forecast to 2025

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Report Code
SE 1876
RI Published ON
1/21/2021
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