DUBLIN, June 23, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/r69979/global_hardware) has announced the addition of the "Global Hardware Encryption Market 2015-2019" report to their offering.
The analysts forecast the Global Hardware Encryption market to grow at a CAGR of 50.62% over the period 2014-2019.
The report, Global Hardware Encryption Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and lists growth prospects. The report includes a discussion of key vendors operating in the market.
One key trend emerging in this market is the adoption of cloud-based encryption. Cloud-based encryption is cost-effective because it avoids the cost of replacing and upgrading hardware encrypted devices. Implementation of cloud-based encryption by SMEs is expected to be high because it is cost-effective.
According to the report, one of the key drivers of this market is the increase in regulatory requirements that need to be met. A large amount of confidential data is stored on the hard disk of enterprises, which makes it mandatory for them to comply with regulations such as using encrypted hardware devices. Non-compliance with the regulations may lead to a penalty.
Further, the report states that the high TCO is one of the major challenges that the market faces. Because technology becomes obsolete in a very short time, the upgrade and replacement costs incurred for hardware encrypted devices are high. This can stop consumers buying hardware encrypted devices.
To calculate the market size, the report considers the revenue generated from the sale of the following components:
- Hardware encrypted HDDS
- Hardware encrypted USB drives
- In-line encryptors
The Global Hardware Encryption market is segmented as follows based on end-user:
- Consumer Electronics
- Communication and Network Security
- Micron Technology
- Samsung Electronics
- Seagate Technology
- Western Digital Technologies
Other Prominent Vendors
- Kanguru Solutions
- Kingston Technology
- Maxim Integrated Products
For more information visit http://www.researchandmarkets.com/research/r69979/global_hardware
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SOURCE Research and Markets