U.S. Hardware Encryption Market (2019 to 2026) – by Algorithm & Standard, Architecture and Field-Programmable Gate Array, Product, Application, and End Use – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “U.S. Hardware Encryption Market by Algorithm & Standard, Architecture and Field-Programmable Gate Array, Product, Application, and End Use: Opportunity Analysis and Industry Forecast, 2019-2026” report has been added to ResearchAndMarkets.com’s offering.

Hardware encryption is a hardware-based technique which is used for securing digital data. There are two forms of encryption; hardware-based encryption and software-based encryption. Hardware encryption uses a processor that contains random number of generators to generate encryption key. The key advantage of hardware-based solutions is that they eliminate the typical drawbacks of software-based solutions such as performance degradation for attacks aimed at the encryption key stored in memory. In hardware encryption, the security parameters and safeguard keys enhance the performance of encryption. These security parameters protect the encryption from cold boots and brute force attacks. Hardware encryption is a cost-effective method that holds diverse applications in securing data efficiently.

Increase in regulatory compliances regarding protection of private & sensitive data and reduction in prices of hardware encryption devices majorly drive the growth of the market. Moreover, factors such as increase in concerns related to data security and privacy, growth of the consumer electronics such as smartphones and tablets and an increase in complexity & volume of data breaches and brute force attacks drive the growth of the market. However, high capital investment and limited use of encrypted devices in the U.S. hinder the market growth. On the contrary, widespread adoption of Internet of Things (IoT) technology and cloud services as well as technological advancement on encryption chip are anticipated to offer lucrative opportunities for the market.

The U.S. hardware encryption market is segmented into algorithm & standard, architecture, product, application, and end use. Depending on algorithm and standard, the market is bifurcated into Rivest, Shamir, and Adelman (RSA), Advanced Encryption Standard (AES), and others. On the basis of architecture, it is classified into Application-Specific Integrated Circuit (ASIC) and Field-Programmable Gate Array (FPGA). The product segment includes Hard Disk Drive (HDD), Solid State Drives (SSD), Universal Serial Bus (USB), and incline network encryptor. By application, the market is categorized into consumer electronics, IT & telecom, automotive & transportation, aerospace and defense, healthcare and others. The end use segment is segregated into industrial, commercial, residential, and government.

Key Benefits

  • The study provides an in-depth analysis of the U.S. hardware encryption market trends to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analyses on the U.S. hardware encryption market size is provided.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the U.S. hardware encryption industry.
  • The quantitative analysis of the market from 2014 to 2026 is provided to determine the U.S. hardware encryption market potential.

Key Findings of the Study

  • By algorithm & standard, the Rivest, Shamir, and Adelman (RSA) segment dominated the U.S. hardware encryption market. However, the Advanced Encryption Standard (AES) segment is expected to exhibit significant growth during the forecast period in the hardware encryption industry.
  • On the basis of architecture, the application-specific integrated circuit (ASIC) segment is anticipated the highest revenue share in hardware encryption market trends in 2018.
  • By product, the Hard Disk Drive (HDD) segment accounted for the highest revenue in 2018 due to technological proliferation and an increase in demand for hardware encryption in consumer electronics such as smartphone, tablets, and laptop.
  • By application, the consumer electronics segment accounted for the highest revenue in 2018 due to the high adoption of hardware devices for data storage.
  • Depending on end use, the commercial segment generated the highest revenue in 2018. However, the industrial sector is expected to witness considerable growth in the near future.

Market Dynamics

Drivers

  • Increase In Regulatory Compliances Regarding Protection of Private & Sensitive Data
  • Decline In Prices of Hardware Encryption Devices
  • Growth of The Consumer Electronics Such As Smartphones And Tablets
  • Increase In Complexity & Volume of Data Breaches And Brute Force Attacks

Restraints

  • High Capital Investment
  • Limiting The Use of Encrypted Devices In The U.S.

Opportunities

  • Widespread Adoption of Internet of Things (Iot) Technology And Cloud Services
  • Ongoing Technological Advancement In Encryption Chip

Companies Profiled

  • International Business Machines Corporation
  • Kingston Technology Company, Inc.
  • Mcafee, Llc.
  • Micron Technology, Inc.
  • Netapp
  • Samsung Electronics Co., Ltd.
  • Seagate Technology Llc
  • Symantec Corporation
  • Toshiba Corporation
  • Western Digital Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/aojqfb

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