Disk encryption is a technology which protects information by converting it into unreadable code that cannot be deciphered easily by unauthorized people. Disk encryption uses encryption software or hardware to encrypt every bit of data that goes on a disk or disk volume. It is used to prevent unauthorized access to data storage.
Increase in the number of cyber-crimes in terms of data breaches and brute force attacks results as a major driver in fuelling the market growth. According to the statistics released by Identity Theft Resource Center (ITRC), reveals that, data breaches in U.S. hit a record of 791 incidents in June, 2017. Increased adoption of digital technologies such as cloud, big data, mobile, IoT and other technologies in various commercial sectors and the growing connectivity of everything possess a greater challenge on the level of security, compliance and data protection. However, the higher cost involved in replacing the existing hard-drive with encrypted one may slow down the growth of market.
The encrypted hard-drive market is majorly segmented on the basis of types and applications. Based on the type, market is bifurcated into: 500 GB, 1 TB, 2TB, 3TB and others, while based on the applications market is segmented into: government/military, finance, enterprises and individual.
Based on the geographical regions covered, the market is analysed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Presence of leading companies with immense investment in the research and development for developing an efficient product forms the major factor in holding the major market share by North America, while increased investment in data protection with major emphasis on cloud computing and mobile security owing to the increased adoption is boosting the growth of European region. Asia Pacific is expected to emerge as fastest growing regions owing to the increased data breaches in the banking and finance sector.
The major key players operating in the market are: Kingston , Western Digital , SanDisk , LaCie , Kanguru Solutions , Transcend Information, Seagate , Datalocker , Apricorn , Integral Memory , IStorage , ¢Verbatim , Axiom Memory Solutions
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