| Report Metric | Details |
|---|---|
| Base Year | 2017 |
| Study Period | 2016-2026 |
| Forecast Period | 2023-2031 |
| CAGR | 31.2% |
| Market Size | USD Billion by 2026 |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Geographies Covered |
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The global encrypted hard drive market is expecting a steady growth in future. Reduced cost of hardware devices increases volume over media data transfer has resulted in driving the market growth. Growth in the number of mobile and laptop users specifically in the developing countries has majorly contributed to raising the market share.
Geographically, the global encrypted hard drive market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa (LAMEA).
North America encrypted hard drive market is expecting a colossal growth during the forecast period. The major driving factors behind the market growth are presence of leading companies with well-established infrastructure and immense investment. Technological developments have fueled the growth of market. U.S. dominates the major market share owing to the well-developed technology and presence of large number of companies operating in the market. The centralized and rich content which is growing among the enterprises, small business and consumers has raised the demand for greater storage device.
Europe accounts for the second largest regions followed by North America. Rising penetration of internet and growth in the online e-commerce industry has been playing a major role in boosting the growth of encrypted hard drive market. Increase in e-commerce adoption especially among the younger generation majorly in Denmark, UK and Netherlands have contributed significantly to driving the market growth.
Asia-Pacific is estimated to be the fastest growing region in global encrypted hard drive market. Countries such as China and India have large number of mobile users, thus this factor gives rise to the growth of the market in this region. The other growing factors include increasing popularity of social media, rise in next-generation connected devices, expanding Information Technology (IT) budgets, growing need for high-capacity storage devices are expected to drive the global encrypted hard drive market across Asia-Pacific.
LAMEA holds the least share in the market owing to the less growth in IT and Technology Sector, additionally, poor infrastructure and lack of funding in the research and development have also affected the market growth. However, the increasing demand for gaming laptops in UAE with growing internet penetration has fueled the market growth.
The global encrypted hard drive market is majorly segmented based on storage capacity and types.
Market is segmented into under 500GB, 500GB to 1TB, above 1TB to 2TB, above 2TB. Fewer than 500 GB capacities include 100GB, 220GB, 320GB, and others. These have less storage capacity than others. These storage capacities are used for storing fewer personal data, as well as images and videos with less size. Flash drives are small storage device that can be used to transport files from one computer to another. They are small and light, use little power, and they don’t have any delicate moving parts. The flash drive is easy to use and can store several gigabytes of information having storage capacity of 8 GB to 64 GB.
Market is segmented into: Solid state drive (SSD), Hard Disk Drive (HDD) and Flash drives. The hard disk drives are most commonly used storage devices across globe due to its easy availability and cost-effectiveness. However, emerging alternatives to hard disk drives such as solid-state drives are likely to capture most of the storage devices market share in the future. Just like hard drive, an SSD has no moving parts which give it benefits such as faster access time, higher reliability, noiseless operation, and lower power consumption. For both desktop and laptop computers, SSD has become suitable replacements. For instance, in April 2018, Adata the Taiwanese electronics firm introduced a new XPG Gamix S11 PCIe Gen 3x4 NVMe SSD, featuring 3,200MB/s read and 1,700MB/s write speeds. Comparable to the performance of Samsung 960 Pro which operates at 3,500MB/s read and 2,100MB/s write speeds.
The market is segmented into government and defense, private enterprises, individual customers. Government networks are ever more vulnerable to multifaceted threats and attacks. The government sector is constantly under pressure to secure critical data, infrastructure, and services. They hold large amounts of data regarding citizens; including personal identification information such as social security numbers, driver’s license information, and tax & financial information. Encrypted hard drives are used to secure this data and restrict access only to authorized users. On the consumer level, security of data is paramount as the confidentiality, integrity, and availability of personal data is the key demand. Individual consumers store images, videos, photos, and various important document on their personal PCs and laptops. To protect this information from getting hacked/stolen, they store it on the encrypted disk drives. The data stored on these drives remains secure and it cannot be easily accessed by another individual without the correct code or password.
