Hardware Encryption is hardware based encryption that is used for securing digital data and ensuring confidentiality. Hardware Encryption uses a processor that contains random number of generators to generate encryption key. There are security parameters and safeguard keys that enhance the performance of the encryption. This security helps the encryption from malicious codes, cold boot and brute force attacks. It is a cost effective method that has various applications in securing data efficiently.
The factors that are driving the growth of the Hardware Encryption market are reduced price of Hardware Encryption and rapid increase in the demand for securing data due to various government regulations. There are some factors that are hampering the growth of the Hardware Encryption market such as limited awareness about the Hardware Encryption and limited use of Encryption in some of the economies. However, integration with SOC (System On Chip) is expected to create lot of opportunities for the growth of the market.
Hardware Encryption Product Market Analysis
Hardware Encryption product market is segmented into In-Lineencryptors, USB memory sticks & flash drives and hard disk drives. Hard disk drives are further segmented into external hard disk drives, internal hard disk drives, hard disk drives with hardware authentication and solid state hard disk drives. Hard disk drives are the largest revenue generating segment due to its widespread products and various applications in the industries.
Hardware Encryption Application Market Analysis
Hardware Encryption application market is segmented into healthcare sector, military, defense & aerospace sector, automotive & transportation sector, communication networking security, consumer electronics sector and others (Emerging & other applications sector). Military, and defense & aerospace sector are the largest revenue generating segments due to high demand of Hardware Encryption for various purposes.
Hardware Encryption Geography Market Analysis
Hardware Encryption Geography Market is segmented into North America, Europe, Asia Pacific and RoW. North America, followed by Asia Pacific, is the largest revenue generating segment due to the availability of funds and lower cost of consumer equipment.
The key strategies adopted by the companies to expand in the Hardware Encryption market are product expansion, mergers & acquisitions and agreements & collaborations. These strategies would provide efficient products and yield strong performing products that support the market regulations and finally, exhibit better customer satisfaction. Top market players include GSMK Cryptophone, Sandisk Corporation, Secude AG, Winmagic Inc., Viasat Inc., Toshiba Corporation, Netapp Inc., Koolspan Inc., and Kanguru Solutions
High level Analysis
Report presents detailed analysis of Hardware Encryption market using Porter’s five forces model. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products of Hardware Encryption market. The threat of substitutes is low due to unavailability of alternate products.
Hardware Encryption market is segmented on the basis of product, application and geography.
MARKET BY PRODUCT
MARKET BY APPLICATION
MARKET BY GEOGRAPHY