Global Secure USB Drives Market Expected to Grow At a CAGR of 23.9% During the Forecast Period
The latest market report published by Brisk Insights “Global Secure USB Drives Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the secure USB drives market was valued at US$ 456.5 Mn in 2018 and expected to grow at a CAGR of 23.9% during the forecast period from 2019 to 2027.
"Growing concern over data security worldwide will drive the demand for Secure USB Drives Market"
The growing data security & privacy concerns along with rising regulatory compliance worldwide are anticipated to drive the secure USB drives market during the forecast period from 2019-2027. The rapidly increasing digital content and adoption of cloud computing across the globe are projected to further drive the global secure USB drives market over the forecast period. In 2018, North America accounted for a major share in the global market backed by Europe and the Asia Pacific.
With the rapidly growing USB devices market coupled with a surge in security breaches, the demand for secure USB drives is projected to grow rapidly in years to come. The global USB drives market was estimated at nearly US$ 18.50 Bn in 2018 and projected to grow at a CAGR of nearly 13% over the forecast period. The global secure USB drives market volume was estimated at more than 20 Mn units in 2018. Incorporation of economical and compact hardware encryption techniques is another major factor expected to enhance market growth during the forecast period. The surge in new product launch along with rising investments for research & development by major companies are some other factors projected to drive the global demand. For instance, in December 2019, Transcend Information, Inc. launched JetFlash 910. The aforementioned product utilizes the 3D NAND technology for up to 420MB/s with a capacity of up to 256GB. The JetFlash 910 comes with durable from inside out, solid-state performance in the USB form, Value-added Transcend Elite Software, and App.
In the global secure USB drives market, market players are concentrating on numerous strategies such as collaboration, strategic alliance, partnership, new technology launch, geographical expansion, and acquisition & merger to enhance their market presence and to increase their market share.
• In January 2019, Kingston Technology Company, Inc. introduced a new managed model for Ironkey D300 Serialized (D300SM). The aforementioned USB drive is FIPS 140-2 Level 3 certified, comes with USB 2.0, USB 3.0 & above hardware interface and is available in 4 GB, 8 GB, 16 GB, 32 GB, 64 GB and 128 GB capacity.
• In May 2019, DataLocker, Inc. announced the expansion in Europe. With the expansion strategy DataLocker, Inc. is estimated to increase its geographic presence in European Countries and also help them in increasing their market share globally.
Key Market Movements:
• Worldwide, the secure USB drives market is growing at a CAGR of 23.9% in revenue terms for the projected period from 2019 to 2027
• In 2018, North America dominated the global secure USB drives market and anticipated to continue its dominance over the forecast period. North America was dominant in 2018 due to increasing digital security concerns along with early technological adoption.
• On the contrary, Europe and the Asia Pacific are expected to expand at a rapid pace over the forecast period. The surge in security breach cases along with expansion by major players in the aforementioned regions is projected to enhance the regional market over the upcoming years.
• Based on the hardware interface, the USB 3.0 segment is anticipated to expand at a rapid pace over the forecast period owing to the growing adoption of USB 3.0 and above devices across the globe.
• Product launch along with geographic expansion is projected to be the major key strategy
List of Companies Covered:
• Kingston Technology Corporation
• Western Digital (SanDisk)
• Toshiba Corporation
• ADATA Technology Co., Ltd.
• Kanguru Solutions
• Transcend Information, Inc.
• DataLocker Inc.
• Apricorn Inc.
• Integral Memory Plc
• Verbatim Corporation
• Axiom Memory Solutions
Browse the full report at https://www.briskinsights.com/report/secure-usb-drives-market
The Global Secure USB drives Market is Segmented into:
By Type (2017–2027; US$ Mn)
By Hardware Interface (2017–2027; US$ Mn)
By Capacity (2017–2027; US$ Mn)
By Application (2017–2027; US$ Mn)
By Geography (2017–2027; US$ Mn)
*Complete segmentation list is on the report page