The hardware encryption market is expected to grow at a CAGR of 29% by 2024


   October 1, 2019
According to a market report by Lucintel, the future of the hardware encryption market looks promising with opportunities in the consumer electronics, IT & telecom, transportation, aerospace and defense, healthcare, and BFSI industries. The hardware encryption market is expected to grow with a CAGR of 29% from 2019 to 2024. The major drivers for this market are growing concern over data security and privacy, growing requirement for regulatory compliances, expansion of digital content, and significant advantage over software encryption technology.

To download report brochure, please go to https://www.lucintel.com/hardware-encryption-market.aspx and click "report brochure" tab

In this market, external hard disk drives, internal hard disk drives, solid-state drives, Inline network encryptors, and USB flash drives are the major device type. Within the hardware encryption market, consumer electronics, IT & telecom, transportation, aerospace and defense, healthcare, and BFSI are the major end use industries.

Samsung Electronics, Seagate Technology, Micron Technology, Kingston Technology, Toshiba, Kanguru Solutions, Maxim Integrated Products, Netapp, Gemalto, and Thales (E-Security) are among the major manufacturers of hardware encryption.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the hardware encryption market by algorithm and standard, by architecture, device type, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Hardware Encryption Market 2019-2024: Trends, Forecast, and Opportunity Analysis." This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the hardware encryption market by algorithm and standard, by architecture, device type, end use industry, and region as follows:

By Device Type [$M shipment analysis for 2013 – 2024]:



  • External Hard Disk Drives


  • Internal Hard Disk Drives


  • Solid-State Drives


  • Inline Network Encryptors


  • USB Flash Drives


By Algorithm and Standard [$M shipment analysis for 2013 – 2024]:



  • Advanced Encryption Standard (AES)


  • Rivest- Shamir-Adleman (RSA) Algorithm


  • Others


    • Data Encryption Standard (DES)


    • Secure Hash Algorithm (SHA)


    • Elliptic Curve Cryptography (ECC)


    • Digital Signature Algorithm (DSA)




By Architecture [$M shipment analysis for 2013 – 2024]:



  • Field-Programmable Gate Arrays (FPGA)


  • Application-Specific Integrated Circuits (ASIC)


By End Use Industry [$M shipment analysis for 2013 – 2024]:



  • Consumer Electronics


  • IT & Telecom


  • Transportation


  • Aerospace and Defense


  • Healthcare


  • BFSI


  • Others


By Region [$M shipment analysis for 2013 – 2024]:



  • North America


    • United States


    • Canada


    • Mexico




  • Europe


    • UK


    • Germany


    • Italy




  • Asia Pacific


    • China


    • Japan


    • India




  • Rest of the World


This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hardware-encryption-market.aspx or helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.


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