According to a new 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 market. The global hardware encryption market is expected to grow with a CAGR of 30% from 2021 to 2026. The major drivers for this market are increasing demand in the consumer electronics, healthcare and banking & financial institutions.
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In this market, different architectures of hardware encryption, such as field-programmable gate arrays and application-specific integrated circuits are used in consumer electronics, IT & telecom, transportation, aerospace and defense, healthcare, and BFSI markets. Lucintel forecasts that application-specific integrated circuit will remain the largest segment due to increasing demand of ASIC design based processors as they have small form factor and high speed.
Within the hardware encryption market, consumer electronics will remain the largest application during the forecast period due to increase in practices like bring-your-own-devices.
The North America will remain the largest region during the forecast period due to increasing demand of automation & smart city projects, growth in IoT technology, and large investment in defense & healthcare facilities.
Western Digital, Samsung Electronics, Seagate Technology, Kingston Technology, Micron Technology, Toshiba, Kanguru Solutions, Maxim Integrated Products, NetApp, WinMagic, Thales e-security, and Gemalto are among the major hardware encryption manufacturers.
Lucintel, a leading global strategic consulting and
market research firm, has analyzed growth opportunities in the global hardware encryption market by algorithm and standard, architectures, product, application, and region. Lucintel has prepared a comprehensive research report titled “
Growth Opportunities in the Global Hardware Encryption Market 2021-2026: 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 trends and forecast for the global hardware encryption market algorithm and standard, architectures, product, application, and region as follows:
By Algorithm and Standard [$M shipment analysis for 2015 – 2026]:
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Advanced Encryption Standard (AES)
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Rivest- Shamir-Adleman (RSA) Algorithm
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Others
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Data Encryption Standard (DES)
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Secure Hash Algorithm (SHA)
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Elliptic Curve Cryptography (ECC)
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Digital Signature Algorithm (DSA)
By Architectures [$M shipment analysis for 2015 – 2026]:
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Field-Programmable Gate Arrays (FPGA)
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Application-Specific Integrated Circuits (ASIC)
By Product [$M shipment analysis for 2015 – 2026]:
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External Hard Disk Drives
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Internal Hard Disk Drives
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Solid-State Drives
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Inline Network Encryptors
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USB Flash Drives
By Application [$M shipment analysis for 2015 – 2026]:
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Consumer Electronics
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IT & Telecom
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Transportation
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Aerospace and Defense
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Healthcare
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BFSI
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Others
By Region [$M shipment analysis for 2015 – 2026]:
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North America
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United States
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Canada
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Mexico
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Europe
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Germany
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United Kingdom
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France
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Italy
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Asia Pacific
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China
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Japan
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India
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South Korea
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The Rest of the World
This more than 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 visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer 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.
