Home / Press Release / Global Secure USB Drives Market Expected to Grow At a CAGR of 23.9% During the Forecast Period

Global Secure USB Drives Market Expected to Grow At a CAGR of 23.9% During the Forecast Period

The latest market report published by Credence Research, Inc. “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.

Market Insights

"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 Asia Pacific.

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.

Secure USB Drives Market

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.

Industrial Developments

• 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 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 are 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
• iStorage-UK
• Verbatim Corporation
• Axiom Memory Solutions

Browse the full report at https://www.credenceresearch.com/report/secure-usb-drives-market

The Global Secure USB hDrives Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
Segmentation

 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 report page

Request Sample

About Us
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

Media Contact
Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
(US/CANADA) Ph.: +1-800-361-8290
E-mail: sales@credenceresearch.com


Contact Information
24/7 Research Support
Phone: +1-800-361-8290
sales@credenceresearch.com
Get in Touch with us
Join us on Facebook
Follow us on Twitter
Join us on LinkedIn