DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Hardware Encryption Market by Algorithm and Standard (AES &RSA), Architecture (FPGA and ASIC), Product (Internal & External Hard Disk Drive, Solid-State Drive, USB, & Inline Encryptor), Application, Vertical, and Geography - Global Forecast to 2022" report to their offering.
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 hardware encryption 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 hardware encryption 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 key players in the hardware encryption market include
- Gemalto Nv.
- Kanguru Solutions
- Kingston Technology Corp.
- Maxim Integrated Products, Inc.
- Micron Technology, Inc.
- Samsung Electronics Co. Ltd.
- Seagate Technology Plc
- Thales (E-Security)
- Toshiba Corp.
- Western Digital Corp.
- Winmagic Inc.
For more information about this report visit http://www.researchandmarkets.com/research/m3n55r/hardware