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The "U.S. Hardware Encryption Market by Algorithm & Standard, Architecture and Field-Programmable Gate Array, Product, Application, and End Use: Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.

Hardware encryption is a hardware-based technique which is used for securing digital data. There are two forms of encryption; hardware-based encryption and software-based encryption. Hardware encryption uses a processor that contains random number of generators to generate encryption key. The key advantage of hardware-based solutions is that they eliminate the typical drawbacks of software-based solutions such as performance degradation for attacks aimed at the encryption key stored in memory. In hardware encryption, the security parameters and safeguard keys enhance the performance of encryption. These security parameters protect the encryption from cold boots and brute force attacks. Hardware encryption is a cost-effective method that holds diverse applications in securing data efficiently.

Increase in regulatory compliances regarding protection of private & sensitive data and reduction in prices of hardware encryption devices majorly drive the growth of the market. Moreover, factors such as increase in concerns related to data security and privacy, growth of the consumer electronics such as smartphones and tablets and an increase in complexity & volume of data breaches and brute force attacks drive the growth of the market. However, high capital investment and limited use of encrypted devices in the U.S. hinder the market growth. On the contrary, widespread adoption of Internet of Things (IoT) technology and cloud services as well as technological advancement on encryption chip are anticipated to offer lucrative opportunities for the market.

The U.S. hardware encryption market is segmented into algorithm & standard, architecture, product, application, and end use. Depending on algorithm and standard, the market is bifurcated into Rivest, Shamir, and Adelman (RSA), Advanced Encryption Standard (AES), and others. On the basis of architecture, it is classified into Application-Specific Integrated Circuit (ASIC) and Field-Programmable Gate Array (FPGA). The product segment includes Hard Disk Drive (HDD), Solid State Drives (SSD), Universal Serial Bus (USB), and incline network encryptor. By application, the market is categorized into consumer electronics, IT & telecom, automotive & transportation, aerospace and defense, healthcare and others. The end use segment is segregated into industrial, commercial, residential, and government.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200501005207/en/

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U.S. Hardware Encryption Market (2019 to 2026) - by Algorithm & Standard, Architecture and Field-Programmable Gate Array, Product, Application,...