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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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    Report

  • 210 Pages
  • December 2022
  • Region: Global
  • Markets and Markets
  • ID: 5701980
Description Jump to:

The hardware encryption market was valued at USD 271 million in 2021 and is expected to grow at a CAGR of 4.8% from 2022 to reach USD 357 million by 2027. Increasing apprehension over data security and confidentiality, compliance with data privacy security regulations and standards, and digital content development are the key factors driving the hardware encryption market.

Solid-state drives to witness highest CAGR during the forecast period 

The solid-state drives segment is expected to grow with the highest CAGR during the forecast period from 2022 to 2027. SSDs are much faster and offer reduced boot time, which increases their adoption in the computing process. Additionally, SSDs are drawing users’ attention worldwide due to their numerous advantages, such as fast read-write speed, no noise, lower consumption, portability, and so on. It can offer a faster, more energy-efficient, and more secure data storage experience to users

Solid-state drives are widely used for domestic and commercial applications owing to their ease of use and enhanced data security level offered by them. Several IT firms use a solid-state drive for storing their important data, as these drives are portable and provide optimum security.

North America accounted for second-largest market share of the hardware encryption market during forecast period

The hardware encryption market in North America is estimated to account for a share of ~29% of the overall hardware encryption market. The US is one of the key contributors to the growth of the hardware encryption market in North America. The US is globally considered a hotbed for start-up activities, and the usage of hardware encryption-enabled products in manufacturing facilities of the country is expected to fuel the growth of the hardware encryption market in the US. Organizations in various countries of this region have leveraged the benefits of AI, ML, and deep learning technologies to stay ahead in the market. North American countries have well-established economies, which enable hardware encryption vendors to invest in new technologies. Furthermore, the region is regarded as the center of innovation because the major North American IT companies roll out new offerings and aggressive collaborations occur in the region. The organizations in the region have been massively adopting PCs to streamline their work processes. Additionally, the rapid penetration of mobile devices, such as smartphones, laptops, and USBs, and the imperative need to secure data residing within companies and being transferred over business networks are driving the adoption of hardware encryption in North America.

Breakdown of primary participants:

  • By Company Type: Tier 1 = 40%, Tier 2 = 30%, and Tier 3 = 30%
  • By Designation: C-level Executives = 40%, Directors = 40%, and Others = 20%
  • By Region: North America = 40%, Europe = 30%, Asia Pacific = 20%, and Rest of the World = 10%

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).

Research Coverage:

This report has segmented the hardware encryption market based on architecture, product, application, and geography. The report discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across 4 main regions - North America, Europe, Asia Pacific, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the hardware encryption ecosystem.

Key Benefits to Buy Report:

  • This report includes statistics for the hardware encryption market based on architecture, product, application, and geography, along with their respective market sizes.
  • Value chain analysis and key industry trends have been provided for the market. 
  • Major drivers, restraints, opportunities, and challenges for the hardware encryption market have been provided in detail in this report.
  • This report would help stakeholders better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market, such as product launches/developments, contracts/collaborations/agreements/acquisitions.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Market Segmentation: Hardware Encryption Market
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Stakeholders
1.6 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 2 Research Design
2.1.1 Secondary and Primary Research
2.1.1.1 Key Industry Insights
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Breakdown of Primaries
2.1.3.2 Primary Interviews with Experts
2.1.3.3 Key Data from Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Share Using Bottom-Up Analysis (Demand-Side)
2.2.2 Top-Down Approach
Figure 4 Approach for Capturing Market Size from Supply-Side
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.2.2.1 Approach for Capturing Market Share Using Top-Down Analysis (Supply-Side)
2.3 Market Breakdown and Data Triangulation
Figure 6 Data Triangulation: Hardware Encryption Market
2.4 Research Assumptions
2.5 Limitations
2.6 Risk Assessment

3 Executive Summary
Figure 7 Application-Specific Integrated Circuits to Account for Larger Size of Hardware Encryption Market from 2022 to 2027
Figure 8 Inline Network Encryptors to Dominate Hardware Encryption Market During Forecast Period
Figure 9 Transportation Application Segment to Witness Highest CAGR During Forecast Period
Figure 10 Hardware Encryption Market in Asia-Pacific to Show Highest CAGR During Forecast Period

4 Premium Insights
4.1 Major Opportunities for Players in Hardware Encryption Market
4.2 Hardware Encryption Market, by Product
Figure 12 Market for Solid-State Drives to Grow at Highest CAGR During Forecast Period
4.3 Hardware Encryption Market, by Application
Figure 13 Consumer Electronics Application Expected to be Largest Market Segment in 2022
4.4 Hardware Encryption Market in Asia-Pacific, by Industry and Country
Figure 14 It & Telecom and China Accounted for Largest Shares of Hardware Encryption Market in 2021
4.5 Hardware Encryption Market, by Country
Figure 15 Hardware Encryption Market in India Expected to Grow at Highest CAGR During Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Apprehension Over Data Security and Confidentiality
5.2.1.2 Compliance with Data Privacy/Security Regulations and Standards
5.2.1.3 Development of Digital Content
5.2.2 Restraints
5.2.2.1 Heavy Capital Investments by Stakeholders
5.2.3 Opportunities
5.2.3.1 Extensive Acceptance of Cloud Computing
5.2.3.2 Substantial Development and Growth of IoT in Various Industries
5.2.4 Challenges
5.2.4.1 Lower Buyer Responsiveness and Awareness of Hardware Encryption Technology
5.2.4.2 Adoption of Sed and Tpm in Current Processors
5.3 Trends/Disruptions Impacting Customer Business
5.3.1 Revenue Shift and New Revenue Pockets for Hardware Encryption Product Providers
5.4 Pricing Analysis
5.4.1 Average Selling Price of Hardware Encryption Products
Figure 18 Average Selling Price of Hardware Encryption Products Offered by Key Players
Table 1 Average Selling Price of Hardware Encryption Products Offered by Key Players (USD)
5.4.2 Average Selling Price Trend
Figure 19 Hardware Encryption Market: Average Price of Hardware Encryption Products
5.5 Value Chain Analysis
Figure 20 Value Chain Analysis: Hardware Encryption Market
5.6 Ecosystem/Market Map
Figure 21 Hardware Encryption Market: Ecosystem
5.7 Technology Analysis
5.7.1 Hardware Encryption
5.7.2 Substitute Technology
5.8 Case Study Analysis
5.8.1 How Self-Encrypting Drives Support Government Workers
5.8.2 Keeping Data Secure on Front Line or Behind Scenes
5.9 Patent Analysis
Figure 22 Top 10 Companies with Highest Percentages of Patent Applications in Last 10 Years
Table 2 Top 10 Patent Owners in Us in Last 10 Years
Figure 23 Number of Patents Granted Per Year from 2011 to 2021
5.9.1 List of Major Patents
Table 3 List of Major Patents in Hardware Encryption Market
5.10 Trade and Tariff Analysis
5.10.1 Trade Analysis
5.10.1.1 Trade Data for Hs Code 8542
Figure 24 Import Data, by Country, 2017-2021 (USD Million)
Figure 25 Export Data, by Country, 2017-2021 (USD Million)
5.10.1.2 Trade Data for Hs Code 8523
Figure 26 Import Data, by Country, 2017-2021 (USD Million)
Figure 27 Export Data, by Country, 2017-2021 (USD Million)
5.10.2 Tariff Analysis
Table 4 Mfn Tariff for Electronic Integrated Circuits, Parts Thereof, by Hong Kong, 2021
Table 5 Mfn Tariff for Electronic Integrated Circuits, Parts Thereof, by Taipei, 2021
Table 6 Mfn Tariff for Electronic Integrated Circuits, Parts Thereof, by China, 2021
Table 7 Mfn Tariff for Discs, Tapes, Solid-State Non-Volatile Storage Devices, Smart Cards, and Other Media, by Republic of Korea, 2021
Table 8 Mfn Tariff for Discs, Tapes, Solid-State Non-Volatile Storage Devices, Smart Cards, and Other Media, by Taipei, 2021
Table 9 Mfn Tariff for Discs, Tapes, Solid-State Non-Volatile Storage Devices, Smart Cards, and Other Media, by Us, 2021
5.11 Key Conferences and Events, 2023-2024
Table 10 Hardware Encryption Market: Detailed List of Conferences and Events
5.12 Regulatory Landscape
5.12.1 Advanced Encryption Standards
5.12.2 General Data Protection Regulation
5.12.3 Payment Card Industry Data Security Standard
5.12.4 Health Insurance Portability and Accountability Act
5.12.5 Federal Information Security Management Act
5.12.6 Federal Information Processing Standards
5.12.7 Sarbanes-Oxley Act
5.12.8 Gramm-Leach-Bliley Act
5.13 Porter's Five Forces Analysis
Table 11 Impact of Porter's Five Forces on Hardware Encryption Market
Figure 28 Porter's Five Forces Analysis: Hardware Encryption Market
5.13.1 Threat of New Entrants
5.13.2 Threat of Substitutes
5.13.3 Bargaining Power of Suppliers
5.13.4 Bargaining Power of Buyers
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 29 Influence of Stakeholders in Buying Process for Top 3 Applications
Table 12 Influence of Stakeholders in Buying Process for Top 3 Industries (%)
5.14.2 Buying Criteria
Figure 30 Key Buying Criteria for Top 3 Applications
Table 13 Key Buying Criteria for Top 3 Applications

6 Algorithms and Standards Related to Hardware Encryption
6.1 Introduction
6.2 Advanced Encryption Standard
6.3 Rivest, Shamir, and Adleman Algorithm
6.4 Others
6.4.1 Data Encryption Standard
6.4.2 Secure Hash Algorithms
6.4.3 Elliptic Curve Cryptography
6.4.4 Digital Signature Algorithm

7 Hardware Encryption Market, by Architecture
7.1 Introduction
Figure 31 Hardware Encryption Market: by Architecture
Figure 32 Application-Specific Integrated Circuits to Account for Larger Size of Hardware Encryption Market from 2022 to 2027
7.2 Field-Programmable Gate Arrays
7.2.1 Flexibility and Agility of Fpga Make It Ideal for Hardware Encryption Applications
7.3 Application-Specific Integrated Circuits
7.3.1 Asic Circuits are Dominantly Used in Industrial and Commercial Applications

8 Hardware Encryption Market, by Product
8.1 Introduction
Figure 33 Hardware Encryption Market: by Product
Figure 34 Inline Network Encryptors to Account for Largest Size of Hardware Encryption Market from 2022 to 2027
8.2 External Hard Disk Drives
8.2.1 Convenience and Portability of External Hdds to Drive Demand
8.3 Internal Hard Disk Drives
8.3.1 Personal Computers and Laptops Have Shown Significant Demand for Internal Hard Disk Drives
8.4 Solid-State Drives
8.4.1 Advanced Sed Feature Helps Growth of Solid-State Drive Market
8.5 Inline Network Encryptors
8.5.1 Inline Network Encryptors Encrypt Data in Transit Mode
8.6 Usb Flash Drives
8.6.1 Higher Penetration of Hardware Encryption Makes Usb Flash Drives Reliable Sources for Encrypting Data

9 Hardware Encryption Market, by Application
9.1 Introduction
Figure 36 Consumer Electronics Applications to Record Largest Market Share During Forecast Period
Table 28 Hardware Encryption Market, by Application, 2018-2021 (USD Million)
Table 29 Hardware Encryption Market, by Application, 2022-2027 (USD Million)
9.2 Consumer Electronics
9.2.1 Full Disk Encryption Offers Better Protection and Performance Than Software Encryption
Table 30 Consumer Electronics: Hardware Encryption Market, by Region, 2018-2021 (USD Million)
Table 31 Consumer Electronics: Hardware Encryption Market, by Region, 2022-2027 (USD Million)
Table 32 Consumer Electronics: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Million)
Table 33 Consumer Electronics: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Million)
Table 34 Consumer Electronics: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 35 Consumer Electronics: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 36 Consumer Electronics: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Million)
Table 37 Consumer Electronics: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Million)
Table 38 Consumer Electronics: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Million)
Table 39 Consumer Electronics: Hardware Encryption Market in Row, by Region, 2022-2027 (USD Million)
Table 40 Consumer Electronics: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Thousand)
Table 41 Consumer Electronics: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 42 Consumer Electronics: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 43 Consumer Electronics: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)
9.3 It & Telecom
9.3.1 Advancements in It & Telecom Applications Require Hardware Encryption as Necessary Safety Measure
Table 44 It & Telecom: Hardware Encryption Market, by Region, 2018-2021 (USD Thousand)
Table 45 It & Telecom: Hardware Encryption Market, by Region, 2022-2027 (USD Thousand)
Table 46 It & Telecom: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Thousand)
Table 47 It & Telecom: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Thousand)
Table 48 It & Telecom: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 49 It & Telecom: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 50 It & Telecom: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Thousand)
Table 51 It & Telecom: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Thousand)
Table 52 It & Telecom: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Thousand)
Table 53 It & Telecom: Hardware Encryption Market in Row, by Region, 2022-2027 (USD Thousand)
Table 54 It & Telecom: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Thousand)
Table 55 It & Telecom: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 56 It & Telecom: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 57 It & Telecom: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)
9.4 Transportation
9.4.1 Intelligent Transportation Systems and Intelligent Traffic Management Solutions to Boost Market
Table 58 Transportation: Hardware Encryption Market, by Region, 2018-2021 (USD Thousand)
Table 59 Transportation: Hardware Encryption Market, by Region, 2022-2027 (USD Thousand)
Table 60 Transportation: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Thousand)
Table 61 Transportation: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Thousand)
Table 62 Transportation: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 63 Transportation: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 64 Transportation: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Thousand)
Table 65 Transportation: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Thousand)
Table 66 Transportation: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Thousand)
Table 67 Transportation: Hardware Encryption Market in Row, by Region, 2022-2027 (USD Thousand)
Table 68 Transportation: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Thousand)
Table 69 Transportation: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 70 Transportation: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 71 Transportation: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)
9.5 Aerospace & Defense
9.5.1 Data Protection and Secure Communication in Aerospace Require Hardware Encryption Products
Table 72 Aerospace & Defense: Hardware Encryption Market, by Region, 2018-2021 (USD Million)
Table 73 Aerospace & Defense: Hardware Encryption Market, by Region, 2022-2027 (USD Million)
Table 74 Aerospace & Defense: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Thousand)
Table 75 Aerospace & Defense: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Thousand)
Table 76 Aerospace & Defense: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 77 Aerospace & Defense: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 78 Aerospace & Defense: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Million)
Table 79 Aerospace & Defense: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Million)
Table 80 Aerospace & Defense: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Million)
Table 81 Aerospace & Defense: Hardware Encryption Market in Row, by Region, 2022-2027(USD Million)
Table 82 Aerospace & Defense: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Million)
Table 83 Aerospace & Defense: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 84 Aerospace & Defense: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 85 Aerospace & Defense: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)
9.6 Healthcare
9.6.1 Hardware Encryption Supports Proficiency of Clinical and It Staff by Providing Real-Time Access During Emergencies
Table 86 Healthcare: Hardware Encryption Market, by Region, 2018-2021 (USD Thousand)
Table 87 Healthcare: Hardware Encryption Market, by Region, 2022-2027 (USD Thousand)
Table 88 Healthcare: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Thousand)
Table 89 Healthcare: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Thousand)
Table 90 Healthcare: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 91 Healthcare: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 92 Healthcare: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Thousand)
Table 93 Healthcare: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Thousand)
Table 94 Healthcare: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Thousand)
Table 95 Healthcare: Hardware Encryption Market in Row, by Region, 2022-2027 (USD Thousand)
Table 96 Healthcare: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Thousand)
Table 97 Healthcare: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 98 Healthcare: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 99 Healthcare: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)
9.7 Others
9.7.1 Hardware Encryption Adopted by Retail Industry due to Increasing Popularity of E-Tailing, E-Commerce, and Online Payments
Table 100 Others: Hardware Encryption Market, by Region, 2018-2021 (USD Million)
Table 101 Others: Hardware Encryption Market, by Region, 2022-2027 (USD Million)
Table 102 Others: Hardware Encryption Market in North America, by Country, 2018-2021 (USD Thousand)
Table 103 Others: Hardware Encryption Market in North America, by Country, 2022-2027 (USD Thousand)
Table 104 Others: Hardware Encryption Market in Europe, by Country, 2018-2021 (USD Thousand)
Table 105 Others: Hardware Encryption Market in Europe, by Country, 2022-2027 (USD Thousand)
Table 106 Others: Hardware Encryption Market in Asia-Pacific, by Country, 2018-2021 (USD Thousand)
Table 107 Others: Hardware Encryption Market in Asia-Pacific, by Country, 2022-2027 (USD Thousand)
Table 108 Others: Hardware Encryption Market in Row, by Region, 2018-2021 (USD Thousand)
Table 109 Others: Hardware Encryption Market in Row, by Region, 2022-2027 (USD Thousand)
Table 110 Others: Hardware Encryption Market in South America, by Country, 2018-2021 (USD Thousand)
Table 111 Others: Hardware Encryption Market in South America, by Country, 2022-2027 (USD Thousand)
Table 112 Others: Hardware Encryption Market in Middle East & Africa, by Country, 2018-2021 (USD Thousand)
Table 113 Others: Hardware Encryption Market in Middle East & Africa, by Country, 2022-2027 (USD Thousand)

10 Hardware Encryption Market, by Region
10.1 Introduction
Figure 37 Hardware Encryption Market: by Geography
Figure 38 Asia-Pacific to Hold Largest Share of Hardware Encryption Market During Forecast Period
10.2 North America
Figure 39 North America: Hardware Encryption Market, by Country
Figure 40 North America: Hardware Encryption Market Snapshot
10.2.1 US
10.2.1.1 Rising Demand for Hardware Encryption-Enabled Products to Ensure Data Security
10.2.2 Canada
10.2.2.1 Increased Adoption of Hardware Encryption Solutions by Governmental Institutions and Organizations
10.2.3 Mexico
10.2.3.1 Increasing Focus on Manufacturing Electronics to Lead to Market Growth
10.3 Europe
Figure 41 Europe: Hardware Encryption Market, by Country
Figure 42 Europe: Hardware Encryption Market Snapshot
10.3.1 UK
10.3.1.1 Rising Installation of Data Storage Systems to Generate New Revenue Pockets for Hardware Encryption Providers
10.3.2 Germany
10.3.2.1 Surging Demand for Hardware Encryption in Components Used for Developing Automobiles
10.3.3 France
10.3.3.1 Flourishing Telecommunication Sector to Emerge as New Opportunity for Hardware Encryption Providers
10.3.4 Italy
10.3.4.1 Growing Manufacturing Sector to Accelerate Demand for Hardware Encryption Products
10.3.5 Netherlands
10.3.5.1 Surging Adoption of Electric Vehicles to Increase Demand for Hardware Encryption Products
10.3.6 Rest of Europe
10.4 Asia-Pacific
Figure 43 Asia-Pacific: Hardware Encryption Market, by Country
Figure 44 Asia-Pacific: Hardware Encryption Market Snapshot
10.4.1 China
10.4.1.1 Growing Demand for Encryption Products Related to Smartphones and Tablets
10.4.2 Japan
10.4.2.1 Rising Adoption of Technologically Advanced Commodities Fuels Demand for Encryption Products
10.4.3 South Korea
10.4.3.1 Flourishing Consumer Electronics and Automobile Industries Contribute to Market Growth
10.4.4 India
10.4.4.1 Growing Adoption of Big Data, Iot, and Other Digital and Virtual Platforms to Fuel Demand for Encryption-Enabled Solutions
10.4.5 Rest of Asia-Pacific
10.5 Row
Figure 45 RoW: Hardware Encryption Market, by Country
Table 124 South America: Hardware Encryption Market, by Region, 2018-2021 (USD Thousand)
Table 125 South America: Hardware Encryption Market, by Region, 2022-2027 (USD Thousand)
Table 126 Middle East & Africa: Hardware Encryption Market, by Region, 2018-2021 (USD Thousand)
Table 127 Middle East & Africa: Hardware Encryption Market, by Region, 2022-2027 (USD Thousand)
10.5.1 Middle East & Africa
10.5.1.1 Increasing Number of Entrepreneurs, Government Initiatives, and Substantial Foreign Investments to Boost Market Growth
10.5.2 South America
10.5.2.1 Digital Transformation Initiatives Across Industry Verticals Expected to Propel Market Growth

11 Competitive Landscape
11.1 Overview
11.1.1 Introduction
11.2 Key Player Strategies/Right to Win
Table 128 Overview of Strategies Adopted by Key Players in Hardware Encryption Market
11.3 Revenue Analysis of Top Players
Figure 46 3-Year Revenue Analysis of Top Players in Hardware Encryption Market, 2019-2021
11.4 Market Share Analysis of Key Players in Hardware Encryption Market in 2021
Figure 47 Market Share Analysis of Key Players in Hardware Encryption Market in 2021
Table 129 Hardware Encryption Market: Degree of Competition
Table 130 Hardware Encryption Market Ranking Analysis
11.5 Company Evaluation Quadrant, 2021
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
Figure 48 Hardware Encryption Market (Global): Company Evaluation Quadrant, 2021
11.6 Competitive Benchmarking
Table 131 Company Footprint, by Architecture (21 Companies)
11.6.1 Company Footprint, by Application (21 Companies)
Table 132 Company Footprint, by Region (21 Companies)
11.6.2 Company Product Footprint
11.7 Start-Up/SME Evaluation Quadrant, 2021
11.7.1 Progressive Companies
11.7.2 Responsive Companies
11.7.3 Dynamic Companies
11.7.4 Starting Blocks
Figure 49 Hardware Encryption Market (Global): Start-Up/SME Evaluation Quadrant, 2021
Table 133 Hardware Encryption Market: List of Key Start-Ups/SMEs
Table 134 Hardware Encryption Market: Competitive Benchmarking of Key Start-Ups/SMEs
11.8 Competitive Scenario and Trends
11.8.1 Product Launches/Developments
Table 135 Hardware Encryption Market: Product Launches/Developments, 2020-2022
11.8.2 Deals
Table 136 Hardware Encryption Market: Deals, 2020-2022

12 Company Profiles
(Business Overview, Products Offered, Recent Developments, Analyst's View Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats) *
12.1 Introduction
12.2 Key Players
12.2.1 Western Digital Technologies, Inc.
Table 137 Western Digital Technologies, Inc.: Business Overview
Figure 50 Western Digital Technologies, Inc.: Company Snapshot
Table 138 Western Digital Technologies, Inc.: Product Launches
Table 139 Western Digital Technologies, Inc.: Deals
12.2.2 Samsung Electronics Co. Ltd.
Table 140 Samsung Electronics Co. Ltd.: Business Overview
Figure 51 Samsung Electronics Co. Ltd.: Company Snapshot
Table 141 Samsung Electronics Co. Ltd.: Product Launches
Table 142 Samsung Electronics Co. Ltd.: Deals
12.2.3 Micron Technology, Inc.
Table 143 Micron Technology, Inc.: Business Overview
Figure 52 Micron Technology, Inc.: Company Snapshot
Table 144 Micron Technology, Inc.: Product Launches
Table 145 Micron Technology, Inc.: Deals
12.2.4 Kingston Technology Corporation
Table 146 Kingston Technology Corporation: Business Overview
Table 147 Kingston Technology Corporation: Product Launches
Table 148 Kingston Technology Corporation: Deals
12.2.5 Seagate Technology Holdings plc
Table 149 Seagate Technology Holdings plc: Business Overview
Figure 53 Seagate Technology Holdings plc: Company Snapshot
Table 150 Seagate Technology Holdings plc: Product Launches
12.2.6 Netapp, Inc.
Table 151 Netapp, Inc.: Business Overview
Figure 54 Netapp, Inc.: Company Snapshot
12.2.7 Kioxia Holdings Corporation
Table 152 Kioxia Holdings Corporation: Business Overview
Table 153 Kioxia Holdings Corporation: Product Launches
Table 154 Kioxia Holdings Corporation: Deals
12.2.8 Kanguru Solutions
Table 155 Kanguru Solutions: Business Overview
Table 156 Kanguru Solutions: Product Launches
Table 157 Kanguru Solutions: Deals
12.2.9 Intel Corporation
Table 158 Intel Corporation: Business Overview
Figure 55 Intel Corporation: Company Snapshot
Table 159 Intel Corporation: Deals
12.2.10 Winmagic Inc.
Table 160 Winmagic Inc.: Business Overview
12.3 Other Players
12.3.1 Maxim Integrated Products, Inc.
12.3.2 Thales E-Security, Inc.
12.3.3 Mcafee, LLC
12.3.4 Broadcom Inc.
12.3.5 International Business Machines Corporation
12.3.6 Micro Focus
12.3.7 Giesecke+Devrient GmbH
12.3.8 Idemia
12.3.9 Nxp Semiconductors N.V.
12.3.10 Infineon Technologies Ag
12.3.11 Check Point Software Technologies Ltd.
12.3.12 Sophos Group plc
12.3.13 Eset, Spol. S R.O.
12.3.14 Trend Micro Incorporated
12.3.15 Chipspirit
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View, Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Knowledgestore: The Subscription Portal
13.3 Customization Options

Executive Summary

Companies Mentioned

  • Broadcom Inc.
  • Check Point Software Technologies Ltd.
  • Chipspirit 
  • ESET spol. s.r.o. 
  • Giesecke+Devrient 
  • IDEMIA 
  • Infineon Technologies AG 
  • Intel Corporation
  • International Business Machines Corporation 
  • KIOXIA Holdings Corporation 
  • Kanguru Solutions
  • Kingston Technology Corporation
  • Maxim Integrated Products, Inc. 
  • McAfee, LLC
  • Micro Focus 
  • Micron Technology, Inc.
  • NXP Semiconductors N.V.
  • NetApp, Inc.
  • Samsung Electronics Co., Ltd.
  • Seagate Technology Holdings PLC
  • Sophos Group Plc 
  • Thales e-Security, Inc. 
  • Trend Micro Incorporated 
  • Western Digital Technologies, Inc. 
  • WinMagic Inc. 

Methodology

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Table Information

Report AttributeDetails
No. of Pages210
PublishedDecember 2022
Forecast Period2022 - 2027
Estimated Market Value ( USD ) in 2022 $ 271 Million
Forecasted Market Value ( USD ) by 2027 $ 357 Million
Compound Annual Growth Rate4.8%
Regions CoveredGlobal
No. of Companies Mentioned25

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