US Hardware Encryption Market Forecast, Trends | Industry Size to Exceed USD 259.12 Billion by 2026

Growing need for data security, rise of cyber attacks, and growing acceptance of cloud-based services are driving the growth of US hardware encryption market.

PORTLAND, PORTLAND, OR, UNITED STATES, April 21, 2023 /EINPresswire.com/ — The US hardware encryption market was valued at $28.08 billion in 2018, and it is expected to expand at a CAGR of 32.4% from 2019 to 2026, reaching $259.12 billion by 2026.

Hardware encryption is widely regarded as the most effective method of preventing unauthorised access to data. To address the critical issue of an increasing number of complex cyber-attacks, governments throughout the world are enacting tough data protection rules, which adds to the demand for hardware encryption as a key data security solution.

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United States Hardware Encryption Market Dynamics:

The United States hardware encryption market is driven by several factors, including the increasing need for data security, the rise of cyber attacks and data breaches, and the growing adoption of cloud-based services. Hardware encryption offers a high level of security for sensitive data by encrypting it before it is stored or transmitted, making it more difficult for hackers to access. Additionally, the implementation of government regulations and industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS) and the Health Insurance Portability and Accountability Act (HIPAA), are driving the demand for hardware encryption solutions.

The proliferation of mobile devices and the growing trend of Bring Your Own Device (BYOD) policies in the workplace are also contributing to the growth of the hardware encryption market, as companies seek to protect their sensitive data on these devices. Overall, the hardware encryption market in the United States is expected to continue to grow as organizations prioritize data security and seek more effective ways to protect their sensitive information.

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United States Hardware Encryption Market Trends:

The United States hardware encryption market is experiencing several key trends, including the adoption of cloud-based encryption solutions, the emergence of advanced encryption algorithms, and the integration of hardware encryption into a broader range of devices. Cloud-based encryption solutions are becoming increasingly popular as organizations look to secure their data in the cloud. These solutions provide a high level of security and are easily scalable, making them an attractive option for businesses of all sizes. There is also a growing trend towards the use of advanced encryption algorithms, such as the Advanced Encryption Standard (AES), which provides a high level of security and is widely adopted across various industries.

Hardware encryption is also being integrated into a broader range of devices, such as smartphones, laptops, and IoT devices, to provide an added layer of security for sensitive data. Finally, there is a greater emphasis on user-friendly encryption solutions that are easy to implement and manage, as organizations seek to balance the need for security with ease of use and convenience. Overall, these trends are driving the growth and evolution of the hardware encryption market in the United States.

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Some of the key U.S. hardware encryption market players profiled in the report include International Business Machines (IBM) Corporation, Kingston Technology Company, Inc., McAfee, LLC, Micron Technology, Inc., NetApp, Inc., Samsung Electronics Co., Ltd., Seagate Technology LLC, Symantec Corporation, Toshiba Corporation, and Western Digital Technologies, Inc. Players operating in the U.S. hardware encryption market have witnessed high revenue growth opportunities for hardware encryption especially due to rise in number of cyber-attacks. This study includes the hardware encryption market analysis, trends, and future estimations to determine the imminent investment pockets.

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