The most important when it comes to Hardware Encryption in our ever-connected era is to note that, increasing concern for data security issue and privacy of data, growing requirement of regulatory compliances, expansion of digital content, and significant advantage over software encryption technology is booting the Hardware Encryption market in our ever-connected era.
The hardware encryption market is expected to be valued at USD 413.85 Billion by 2022, at a CAGR of 29.3% between 2016 and 2022, according to Research and Markets.
The firm also reveals that: the hardware encryption market for advanced encryption standard (AES) is expected to witness a significant growth during the 2016 and 2022 period. The significant growth of this segment can be attributed to the wide acceptance of AES as a highly secure and fast algorithm for encryption.
The application-specific integrated circuit (ASIC) accounted the largest share of the hardware encryption market in 2015. The growth of this market can be attributed to the huge demand for the processor based on ASIC design for the manufacturing of hardware-encrypted hard disk drives and USB drives, owing to their high speed and small form factor.