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Markets and Markets : Advanced Encryption Standard Market worth $166.67 Billion by 2018
[February 25, 2014]

Markets and Markets : Advanced Encryption Standard Market worth $166.67 Billion by 2018

(M2 PressWIRE Via Acquire Media NewsEdge) According to the new market research report " Hardware Encryption Market - By Algorithms (AES, RSA), Architectures (FPGA, ASIC), Products (Hard Disk Drives, USB Drives and In-Line Encryptors), Applications, Verticals and Geography - Analysis & Forecast (2013 - 2018)".

The global hardware encryption market revenue is expected to reach $14.86 billion by end of 2013. It is also expected to grow to $166.67 billion in 2018 at a CAGR of 62.17%. Similarly, volumes are estimated to grow from roughly 59.76 million units to 691.79 million units in 2018 at a CAGR of 63.20%. This growth is heralded by the consumer electronics applications market for hardware encryption products. The hardware encryption applications in the Military Defense and Aerospace (MDA) applications sector is also expected to grow rapidly in the coming five years. he Total addressable market (TAM) revenue for hardware encrypted hard disk drives is estimated to grow from $48.57 billion in 2013 to $146.37 billion in 2018. Thus, the market penetration of hardware encrypted HDDs into this TAM stands at 20.07% in 2013 and is expected to grow to 69.05% by 2018. The rapid adoption of hardware encryption is expected in the near future. The TAM revenue for hardware encrypted USB drives is estimated to grow from $6.82 billion in 2013 to $19.14 billion in 2018. The market penetration of hardware encrypted USB drives into this TAM stands at 33.17% in 2013 and is expected to grow to 63.81% by 2018. The TAMs have been calculated by the addition of the TAMs for each of the respective application markets.

When geographical markets North America, Europe, Asia Pacific and the Rest of the World are considered, APAC has the major share in the market with expected revenue of roughly $5.15 billion in 2013. The CAGR of the market's primary base - APAC, for the period 2013 to 2018 is calculated to be 58.40%. Europe and North America are the fastest growing regions, with expected CAGRs of 64.03% and 63.69% respectively from 2013 to 2018, due to the major growth spurts expected in the consumer electronics sector in the developing countries in this region.

Request Sample @ Global hardware encryption technology market is expected to reach $166.67 billion by 2018, at an estimated CAGR of 62.17%; consumer electronics will be the key application area for this market.

The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the global hardware encryption market. Furthermore, a briefing will be conducted on the competitive scenario and geographic trends and opportunities in the macro-markets and micro-markets with respect to North America, Europe, Asia-Pacific, and ROW.

Over the last five years, as hardware encrypted products started gaining a little traction, the average cost price of a single hardware encrypted product started decreasing. Technological innovations have also helped to reduce this average cost. For example, in the last 2 years (2011-2012), the cost of enabling hardware encryption capability to a hard disk drive has fallen to around $15-$25 from a value of $100 in 2009. This trend is expected to continue in the future and as the cost differences between hardware encrypted and non-hardware encrypted devices become negligible, hardware encryption will become a default standard in HDDs, USB drives and so on. Even without considering the actual usage of encryption features, when the cost difference becomes small, non-hardware encrypted devices will be gradually phased out.

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