Wednesday, December 2, 2015

Hardware encryption market will find increased adoption in conducting commerce

Encryption have been around for ages to protect confidential & sensitive data. As global organizations grow competitive in securing data, in some economies with vulnerable IP protections issues, there is an impending need for securing data providing security protection against sensitive data breaches and theft. This is done in either of the ways depending on the granularity, scalability of organizational and its budget. Data is secured in organization either through File System Encryption (FSE) using software by the storage controller, or Full Disk Encryption (FDE) done at the hardware level using high-end Self Encrypting Drives (SEDs).
Hardware encryption uses a processor containing random number of generators to generate encryption key. Other encryption keys are used to increase the performance of the process. In order to counter soraing number of complex cyber-attacks, various governments are coming out with stringent regulations related to data protection through encryption which leads to increased adoption of hardware encryption market across the globe. Seagate Technology PLC, an American based company pioneering in data storage technology, had introduced the first laptop hard drive with built-in encryption in 2007. In order to promote multivendor interoperability, Trusted Computing Group (TCG) has defined SED standard which they call Opal that has made a vast range of Opal-based SEDs from being launched by prominent hard drive manufactures such as Hitachi, Micron and Samsung.  External drive providers like CMS and other key vendors such as Dell, Lenovo and HP offer these SEDs have been proactive to cater to different systems, all at virtually no additional cost.
Self-encrypting hard drives though slow on adoption will gain momentum in providing an industry standard solution for full disk encryption. These protect data when devices or drives are lost or stolen, as well as re-purposed, sent for being repaired under warranty. Market response to the adoption of such a simple method to secure data has been positive in industries where data breaches proved to be very costly owing to increasing data privacy laws. A more widespread application by users can be made possible through heightened awareness about the usefulness of data security for conduction commerce in organizations.
Witnessing the great opportunities in terms of adoption of these hardware encryption devices as the most widely used encryption technology, a recent report added by Big Market Research titled "World Hardware Encryption-Market Opportunities and Forecasts, 2014-2020" forecasts the world hardware encryption market to generate a revenue of $296.4 b by 2020, growing at 54.6% CAGR during 2015-2020.
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