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Hardware Encryption Market worth $313 million by 2025 - Exclusive Report by MarketsandMarkets
Hardware encryption Market By Product Type (External HDD, Internal HDD, Solid-state drive, Inline Network Encryptor, USB flash drive), Application (consumer goods, aerospace and defense, transportation, healthcare, and others) And Region - Forecast To 2025 , published by MarketsandMarkets, the overall Hardware Encryption Market is expected to be valued at USD 262 million in 2020 and reach USD 313 million by 2025, growing at a CAGR of 3.6%. The primary reasons for this rise in demand are the increasing demand for smartphones, online and digital content, which is attracting the market for hardware encryption products and solutions.
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- Declining prices of hardware encryption devices and surge in complexity & risk of data breaches and brute-force attacks drive the growth of the global hardware encryption market
PORTLAND, Ore., Jan. 19, 2021 /PRNewswire/ Allied Market Research recently published a report, titled, Hardware Encryption Market by Algorithm & Standard (Rivest, Shamir, and Adelman (RSA); Advanced Encryption Standard (AES); and Others), Architecture (Application-specific Integrated Circuit (ASIC) and Field-programmable Gate Array (FPGA)), Product (Hard Disk Drive (HDD), Solid-state Drives (SSD), Universal Serial Bus (USB), and Inline Network Encryptor), Application (Consumer electronics, IT & Telecom, Automotive & Transportation, Aerospace & Defense, Healthcare, Government & Public Utilities, BFSI, and Others), and End Use (Industrial, Commercial, Residential, and Government): Global Opportunity Analysis and Industry Forecast, 2019-2027 . As per the report, the global hardware encryption industry