Hardware Encryption Market Outlook, Trends, Industry Size, Growth Drivers, Leading Players and Research Report 2022-2027
According to IMARC Group’s latest report, titled “ Hardware Encryption Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ”, the global hardware encryption market size reached US$ 228 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,251 Billion by 2027, exhibiting a CAGR of 32.66% during 2022-2027 . Hardware encryption involves the use of computer hardware to assist or replace software in the process of data encryption. It is implemented through algorithms that convert data or information into codes to prevent unauthorized access. The encryption uses a dedicated processor on the encrypted drive to generate the encryption key that can be unlocked using the user’s password. Such solutions help safeguard the data from being accessed by hackers and provide an extra layer of security against online threats, such as malicious code, cold boot, and brute force attacks. As a result, hardware encryption is witness...