The Global Hardware Encryption Market was valued at $52.45 billion in 2016, and is projected to reach $1,085 billion by 2024, having a CAGR of 46.3% during the forecast period of 2017 to 2024.
Encryption is the conversion of digital data into another form which can’t be easily understood by anyone except authorized parties. The primary use of encryption is to protect the data stored on a system or transmitted over the network. Software based and hardware based are two significant techniques used for encryption. Hardware encryption uses a processor to encrypt data without hampering performance of the system. Authentication over the hardware, cost effective measure for large data environments, and protection against common cyber-attacks have brought the need for hardware encryption within encryption market. According to Thales S.A., the overall encryption deployment within IT industry has increased over 37% from 2005 to 2016.
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Market Determinants
Constantly rising requirement for energy, power and business utilities is expected to generate a swift growth of construction and oil & gas industry. This will eventually create a growth platform for the industrial protective footwear market. Moreover, increasing cases of industrial accidents have led various industries to obligate the use of safety footwear as a safety precaution. With the sensitization regarding industrial and worker safety, governments of various developing and developed countries are also making stringent regulations for the workers who deal with hazardous and heavy machineries. On the other hand, the lack of awareness and industrial safety standards might act as a restraining factor for the market growth. Moreover, there are various cheap substitutes which are easily available in the market at quite low prices. This scenario might also impede the growth of the market.
INDUSTRIAL PROTECTIVE FOOTWEAR MARKET DETERMINANTS- IMPACT ANALYSIS, 2016 vs. 2024
industrial protective footwear market
Market Segmentation
The segmentation of the industrial protective footwear market is done on the basis of type, application, and geography. On the basis of type, the market is segmented as Leather footwear, Waterproof footwear, Rubber footwear and Plastic footwear. By application, the market is categorized as construction, manufacturing, mining, oil & gas, chemicals, food, pharmaceuticals, and transportation. Geographically, the market is segmented as North America, Europe, Asia Pacific and Rest of World.
The key players of the protective footwear market are Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, Rock Fall Ltd.
INDUSTRIAL PROTECTIVE FOOTWEAR MARKET KEY SEGMENTATION
By Type

• Waterproof Footwear
  • Leather Footwear
  • Rubber Footwear
  • Plastic Footwear

By Application

• Manufacturing
  • Construction
  • Oil & Gas
  • Chemicals
  • Food
  • Pharmaceuticals
  • Mining
  • Transportation

By Geography
North America
• U.S.
• Canada
• Mexico
Europe
• Italy
• UK
• Germany
• France
• Rest of Europe
Asia-Pacific
• Japan
• Australia
• China
• Rest of Asia-Pacific
Rest of World
• Latin America
• Middle East
• Africa
KEY MARKET PLAYERS

• Rahman Group
  • Honeywell Safety Products
  • Oftenrich Holdings Co. Ltd.
  • COFRA Holding AG
  • Saina Corporation Co. Ltd.
  • Jal Group
  • ELTEN GmbH
  • UVEX Safety Group
  • VF Corporation
  • Rock Fall Ltd.

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