Global Hardware Encryption Market Trends and Opportunities to 2030 | Western Digital, Samsung Electronics, and Micron Technology among others – Taiwan…

The global hardware encryption market size was US$131.3 billion in 2019. The global hardware encryption market size is forecast to reach the value of US$2,277 billion by 2030 by registering a compound annual growth rate (CAGR) of 31.1% during the forecast period from 2021-2030.

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COVID-19 Impact Analysis

The COVID-19 epidemic had a nominal effect on the global hardware encryption market. During the pandemic, encryption became a crucial tool in tracking crises. Moreover, the organization began adopting various methods to protect the data. Apart from that, government bodies adopted hardware encryption to control the situation securely. As a result, it propelled the growth of the global hardware encryption market.

Factors Influencing

Geographic Analysis

Asia-Pacific is forecast to dominate the market during the forecast period from 2021-2030. It is due to the growing urbanization, rise in household income, and rapidly growing population in emerging countries, such as China and India. Moreover, the availability of electronic and semiconductor manufacturing companies would significantly contribute to the market growth during the analysis period.

North America and Europe may register strong growth rates because of the rising era of cloud-based services and innovations in the Internet of Things (IoT) based technologies. Moreover, these regions are home to many established hardware encryptions manufacturing firms. Therefore, the market would witness various growth opportunities in these regions.

Competitors in the Market

Market Segmentation

Insight by Architecture Type

Insight by Product Type

Insight by Algorithm & Standard

Insight by Application

Insight by End-User

Insight by Region

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Global Hardware Encryption Market Trends and Opportunities to 2030 | Western Digital, Samsung Electronics, and Micron Technology among others - Taiwan...