In today’s world of technology and mobility, cybercrime is prominent and growing fast across the globe. Cybercrime poses a real danger to organizations, government, and financial institutions. Given the rising number of cyber-attacks and other modes of theft, there is a growing need for encrypted devices to enhance the security of data or information. Hence, governments are coming out with strict policies regarding data protection.
A key data security technology available and popular in the market today is the hardware encryption. This encryption method is a better method than software encryption of protecting information due to lesser complexities involved and higher efficiency. It has helped businesses large and small store their data securely and confidently.
The market for hardware encryption is on its way for robust growth. The key growth drivers include growing concern for data privacy, data security issues, increasing number of cyber-attacks, stringent regulatory compliances, rising demand for BYOD devices, benefits of hardware encryption over software encryption technology and rising digital trends. Several new hardware encrypted devices are coming up in the market. Western Digital has recently introduced a My Book Duo external hard drive with a 20TB capacity. SPYRUS, Inc. recently developed a support environment for Security in a Box Secure Storage SDK with FIPS 140-2 Level 3 encrypted storage devices.
IBM also disclosed its z14 mainframe server which features pervasive encryption to help clients prevent cyber threats. There also have been major deals related to the hardware encryption firms. On May 2017, RigNet, Inc. completed its acquisition of Cyphre Security Solutions that provides the most advanced enterprise data protection available in the market today. In 2016, the world leader in memory products Kingston Digital, Inc. acquired the USB technology and assets of IronKey™ from Imation Corp. Such market trends and activities show that the hardware encryption sector will exhibit prolific growth in future. A recent report published by Allied Market Research tells that the global market for hardware encryption market will reach 296.4 billion by 2020, registering a CAGR of 54.6% from 2015-2020.
Western Digital Releases: a New Product in Its Line Up
My Book Duo external hard drive is the newest desktop RAID drive introduced by Western Digital. The hard drive features 20 TB storage in Raid 0 and one configuration, USB-C and USB-A ports, and a 3-year warranty. My Book Duo is also available in storage capacities of 16 TB, 12 TB, 8 TB, 6 TB, and 4TB. In the Raid 0 configuration, My Book offers sequential read speeds of 360 MB per second. In the Raid 1 configuration, My Book allows for redundancy and reduces the risk of data loss. Secured with 256-bit AES hardware encryption, the drive lets users set a password to activate the hardware data encryption and data protection. The drive serves the need of data storage for home users, businesses and creative professionals such as video and photo producers and editors.
SPYRUS, Inc. developed a support environment for Security in a Box Secure Storage SDK
In August 2017, Spyrus Inc. announced the development of a secure environment for Security in a Box Secure Storage SDK with FIPS 140-2 Level 3 encrypted storage devices. SPYRUS storage products meet the needs of securing mission critical end points and data collection devices in the Internet of Things (IoT). Other uses are mission data storage for UAVs, wearable and in-vehicle cameras, power grids, homeland security and much more.
The initial Secure Storage SDK will be supported on windows and LINUX x86 platforms, Raspberry Pi 3, Qualcomm Dragonboard 410c, and the TI OMAP family of embedded processors. The supported SPYRUS products will feature AES-256 hardware encrypted Rosetta® TrustedFlash® microSDHC and the USB 3.0 SSD class PocketVault™ P-3X. On the basis of model and implementation, sizes will range from 256MB to 2 TB and beyond.
IBM Seeks Expansion with Encrypted Systems
IBM has recently revealed its new system, which can take a major step towards protecting organizations from cyber threats or data breaches. Known as the z14, the system features faster and more efficient hardware chips. The cryptographic system consists of a high-performance, low-latency coprocessor called the Central Processor Assist for Cryptographic Function (CPACF).Data encryption system helps to carry out symmetric key encoding and calculates message digests in hardware. It supports cryptography and serves hardware acceleration for every type of encryption operation in the coprocessor.
Rignet Establishes a Strong Cyber Security Platform with its Recent Acquisition
In May 2017, RigNet, Inc. completed its acquisition of Cyphre Security Solutions, a provider of the most advanced cyber security platform to enterprises for advanced data protection. The hardware-based encryption of the company features low latency protection for files at rest and in transit for both public and private cloud. The intention behind the acquisition is to create a world class cyber security platform for its client’s, support Rignet’s diversification plan and expansion of its over-the-top (OTT) offerings.
Kingston Digital purchased the technology and assets of IronKey™
In 2016, Kingston Digital, Inc., flash memory affiliate of Kingston Technology Company, Inc., has acquired the USB technology and assets of IronKey™ from Imation Corp. Kingston® is the leading provider of encrypted portable solutions for enterprises since it launched its first DataTraveler encrypted USB Flash drive. IronKey, a part of Imation Corp., is another leading brand providing encrypted USB Flash drive solutions.
This acquisition strengthens Kingston’s stand as a provider of a more comprehensive portfolio of products and services to its customers and shows its commitment as the global leader in providing encrypted solutions for mobile data.
Along with this acquisition, encryption services leader DataLocker® Inc. has acquired the IronKey Enterprise Management Services (EMS) platform which provides centralized management to encrypted USB drives. Prior to this acquisition, DataLocker acquired the SafeConsole® management system from Block Master, a leading provider of managed secure USB flash drive solutions.
An extensive study conducted in this area of technology states that the hardware encryption market would garner revenue of $296.4 billion by 2020, registering a CAGR of 54.6% during the forecast period of 2015 – 2020.
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