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Encrypted Flash Drives Market to Reach $0.2 Billion, Globally, by 2032 at 7.8% CAGR: Allied Market Research

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The global encrypted flash drives market has experienced growth due to several factors, including advancements in encryption technology, increase in adoption of cloud storage, the rise of cybercrime, integration with enterprise security systems, and a focus on user convenience within the industry.

WILMINGTON, Del., Aug. 2, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Encrypted Flash Drives Market by Type (Hardware Encrypted and Software Encrypted), and Application (Military-grade, Consumer-grade, Enterprise-grade, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the encrypted flash drives market was valued at $0.1 billion in 2023, and is estimated to reach $0.2 billion by 2032, growing at a CAGR of 7.8% from 2024 to 2032. 

According to the report, the encrypted flash drives market was valued at $0.1 billion in 2023, and is estimated to reach $0.2 billion by 2032, growing at a CAGR of 7.8% from 2024 to 2032.

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103 – Tables55 – Charts310 – Pages

Prime Determinants of Growth 

The global encrypted flash drives market has experienced growth due to several factors, including advancements in encryption technology, increased cloud storage adoption, and the rise of cybercrime. However, the potential for user error hinders market growth to some extent. Moreover, integration with enterprise security systems and a focus on user convenience in the encrypted flash drives industry offer lucrative opportunities for the expansion of the global encrypted flash drives market. 

Report Coverage & Details: 

Report Coverage 

Details 

Forecast Period 

2024–2032 

Base Year 

2023

Market Size in 2023 

$0.1 billion 

Market Size in 2032 

$0.2 billion 

CAGR 

7.8 %

Segments Covered 

Type, Application, and Region

Drivers 

Advancement in Encryption Technology Increased Cloud Storage Adoption Rise of Cybercrime 

Opportunities 

Integration with Enterprise Security Systems Focus on User Convenience 

Restraint 

Potential for User Error 

Segment Highlights: 

The global encrypted flash drives market is segmented into hardware and software encrypted types. Hardware encrypted flash drives are increasingly popular for their superior security features, ideal for industries such as finance and healthcare. Software encrypted flash drives are valued for their flexibility and cost-effectiveness, suitable for varied applications needing adaptable security. The trend favors hardware encryption due to its higher security assurance. 

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The encrypted flash drives market has witnessed significant trends in military-grade and enterprise-grade applications. Military-grade encrypted flash drives are essential for defense and government sectors due to their stringent security standards. Enterprise-grade encrypted flash drives are widely adopted by businesses to protect sensitive corporate data, driven by the rise of remote work and mobile workforces. These two segments show strong demand for secure portable storage solutions. 

Region/Country Outlook: 

The Asia-Pacific region leads the encrypted flash drives market, with China at the forefront. China’s market growth is driven by its strong electronics industry, increase in focus on cybersecurity, and expansion in IT infrastructure. This has led to significant demand for secure data storage solutions across sectors such as finance, healthcare, and manufacturing. Moreover, China’s rapid digital transformation and government initiatives to enhance data protection have further accelerated the adoption of encrypted flash drives in the region. 

Leading Market Players: 

Kingston Technology Company, Inc. Kanguru Solutions, Inc. Western Digital Corporation (SanDisk)  Apricorn Holdings, LLC Patriot Memory LLC Integral Memory plc Transcend Information, Inc. Datalocker Inc. iStorage Pte Ltd Verbatim Corporation

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The report provides a detailed analysis of these key players in the global encrypted flash drives market. These players have adopted different strategies such as new product launches, collaborations, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Key Industry Developments: 

In January 2024, Kanguru introduced new 512GB high-capacity Defender® Hardware Encrypted Flash Drives, providing secure storage with military-grade AES 256-bit encryption. These drives offer ample space for storing documents, multimedia, and software, featuring FIPS 140-2 certification, onboard anti-virus protection, and rugged alloy housing. 

Key Benefits For Stakeholders:

This report provides a quantitative analysis of the encrypted flash drives market segments, current trends, estimations, and dynamics of the encrypted flash drives market analysis from 2022 to 2032 to identify the prevailing market opportunities. Market research is offered along with information related to key drivers, restraints, and opportunities. Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network. In-depth analysis of the encrypted flash drives market segmentation assists to determine the prevailing market opportunities. Major countries in each region are mapped according to their revenue contribution to the global encrypted flash drives market statistics. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. The report includes the analysis of the regional as well as global encrypted flash drives market trends, key players, market segments, application areas, and market growth strategies. 

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Encrypted Flash Drives Market Key Segments:

By Type

Hardware EncryptedSoftware Encrypted

By Application

Military-gradeConsumer-gradeEnterprise-gradeOthers

By Region:

North America (U.S., Canada, and Mexico)Europe (UK, Germany, France, Russia, and Rest of Europe)Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific)Latin America (Brazil, Argentina, and Rest of Latin America)Middle East and Africa (UAE, Saudi Arabia, and Rest of Middle East and Africa)

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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My China Story: Technology Brings the World Together for a Chinese New Year

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BEIJING, Dec. 24, 2024 /PRNewswire/ — As the Spring Festival approaches, many are preparing for their holiday travels abroad. While the excitement of spontaneous trips is undeniable, one of the biggest hurdles travelers face is language barriers. However, iFlytek‘s innovative translation device promises to make communication effortless, helping you navigate any language challenges with ease.

 

Known for its sleek and compact design, iFlytek’s smart translation gadget offers an elegant black, business-style exterior, a moderate size, and a lightweight build. It’s the ideal travel companion, fitting easily into your pocket without weighing you down. Whether you’re heading to a city getaway or a remote adventure, this device ensures that language is never an obstacle.

The device boasts impressive capabilities, supporting translations in 84 languages online and 16 languages offline. Whether you’re traveling to Japan, South Korea, France, Germany, or the Middle East, this device handles it all. Even in remote locations—such as secluded mountain temples or isolated islands—the offline translation feature ensures you won’t be left speechless. The device also offers specialized vocabulary for specific fields, making translations more precise and professional.

With its intuitive interface, the gadget is easy to use—just a tap, and you’re ready to communicate. This makes it a perfect tool for travelers who want to ensure a smooth and enjoyable experience while abroad.

But what lies behind this innovative device? How did it come to life? To learn more about its development and functionality, we are following a Russian journalist as he visits iFlytek’s headquarters for an exclusive look at this remarkable “gadget” and uncover the story behind its creation.

Stay tuned as we explore the technology that’s revolutionizing the way we connect across cultures.

https://youtu.be/QkdFG0LvH70

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SOURCE “My China Story” International Short Video Competition Organizing Committee

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Cutting-edge automotive software in India: Dedicated business unit of digital transformation specialist Embitel now operates as CARIAD India

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400-person-strong team has been an established partner on numerous technology projects for CARIAD, the automotive software company of the Volkswagen Group.Embitel Managing Director, Sharad Bairathi: “CARIAD’s internationally renowned brand name will be a major advantage in the highly competitive Indian technology sector.”CARIAD Chief Launch Officer, Thomas Günther: “Working together under the CARIAD brand strengthens our joint commitment to delivering cutting-edge automotive software solutions.”

BENGALURU, India, Dec. 24, 2024 /PRNewswire/ — The CARIAD Business Unit of Bengaluru-based digital transformation specialist Embitel now operates as CARIAD India. The 400-person-strong team has been an established partner on numerous technology projects for CARIAD, the automotive software company of the Volkswagen Group.

Since 2020, Embitel’s CARIAD Business Unit has worked successfully with CARIAD on many technology projects, primarily in the areas of platform software, Scalable Vehicle Compute Platform, high-speed communication technologies, ADAS/AD, power systems, energy and charging, and body electronics. To further strengthen this partnership, Embitel’s CARIAD Business Unit now officially operates as CARIAD India under a licensing agreement with Germany-based CARIAD SE.

Sharad Bairathi, Managing Director of Embitel, commented: “The rebranding to CARIAD India marks a significant milestone. It shows everyone how close our links with CARIAD are. The internationally renowned brand name will be a major advantage in the highly competitive Indian technology sector.”

CARIAD’s Chief Launch Officer, Thomas Günther, added: “We are welcoming our colleagues in India even closer to the team. India’s technology landscape pulsates with innovation and working together under the CARIAD brand now strengthens our joint commitment to delivering cutting-edge automotive software solutions.”

CARIAD India has grown continuously and now has close to 400 employees. It started with a small team delivering base services for the Driver Reflection Module, which is an integral part of the Volkswagen Group’s advanced driver assistance systems. This team later expanded to develop software for a microcontroller and the Scalable Vehicle Compute Platform (SVCP), a flexible system that supports various automotive functions, including communication interfaces and power management for electric cars.

The ADAS/AD team, established in 2022, works on behaviour software, sensors, map localization, driving, and safety projects. Equipped with advanced systems, the lab in Bengaluru is a key partner for CARIAD in Germany and internationally.

CARIAD India has also established an expert team to work on solutions for vehicle, energy, charging and body functions. The power electronics software team develops the diagnostics, security and bootloader functions. Another team is currently being setup for the high-voltage energy management systems for new vehicle platforms.

The rebranding to CARIAD India does not alter the ownership or legal status of Embitel Technologies India Pvt. Ltd. – which continues to be the legal entity. Embitel remains a subsidiary of the diconium group and, thus part of Volkswagen Group Sales IT.

CARIAD® is a trademark of CARIAD SE licensed to Embitel Technologies India Pvt. Ltd.

CARIAD

CARIAD is the automotive software company of the Volkswagen Group. Founded in 2020, CARIAD creates and delivers leading digital technology for brands such as Volkswagen, Audi and Porsche. In software centres in Germany, the USA, China, Estonia and India, more than 6,000 experts work on making the automotive experience safer, more sustainable and more comfortable for everyone. The company’s technology stack includes advanced driver assistance systems, charging technology, a unified infotainment platform, software functions for driving performance, as well as a new digital ecosystem and digital services in and around the vehicle. Iconic cars like the Volkswagen ID. Buzz and ID.7, the Audi Q6 e-tron and the electric Porsche Macan 4 are already equipped with the latest CARIAD technology. With the Volkswagen Group brands, CARIAD aims to transform the car into a software-defined vehicle that relies on software as the basis for most of its functions.

For further information, visit https://cariad.technology.

Embitel

Since its inception in 2006, Embitel Technologies India Pvt. Ltd., has driven digital transformation through advanced technology in the realms of Automotive, Internet of Things, Connected Car and Digital Solutions. Embitel has a proven track record of delivering end-to-end solutions from concept to production for a global client base. The company also provides accelerator solutions that can help customers to reduce overall development time and effort considerably. A Volkswagen Group company, Embitel is a close development partner for CARIAD, the Group’s automotive software company. Embitel also supports CARIAD in enhancing customer experience for digital business and mobility services through seamless e-commerce solutions. Embitel has its corporate office in Bengaluru, with development centres in Ahmedabad, Pune and Coimbatore in India.

Find more information about Embitel at www.embitel.com.

 

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From Local Innovator to Global Player: XData Group’s 2024 Milestones

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TALLINN, Estonia, Dec. 24, 2024 /PRNewswire/ — XData Group, a B2B software development firm and a rising fintech innovator based in Tallinn, Estonia, has celebrated a year of exceptional achievements in 2024. Compared to the previous year, the company has doubled its revenue, jumping from €3.3M to €7.8M, while the net profit is expected to be in the €3-3.5 million range. This is a remarkable leap for a growing business, cementing XData’s position as a prominent rising player in the B2B software development space.

The past year has been transformative for XData Group: despite facing challenges in attracting top talent, the company successfully grew its team from 27 to 79 employees, nearly tripling in size. This expansion reflects XData’s ability to draw skilled professionals motivated by a shared vision of reshaping the banking industry through cutting-edge technology.

A significant milestone of 2024 was the release of the company’s flagship banking suite, designed to enhance user experience and operational efficiency in online banking.

Additionally, XData Group expanded its global presence by opening new offices in Spain and Armenia, two emerging tech hubs that align well with the company’s vision and forward-thinking approach.

The company’s client base has also grown as XData secured partnerships with several European banks and financial institutions in the Middle East, showcasing its growing reputation as a trusted partner.

“We are proud of everything we’ve achieved this year and XData’s growing role in driving the adoption of AI and automation in the banking space. As 2025 draws near, our team is committed to scaling our operations even further, doubling down on our proprietary AI-driven solutions and making sure our clients get the best that XData has to offer,” – stated Roman Eloshvili, CEO of XData Group.

XData Group has ambitious plans for the upcoming year: among other things, the company aims to achieve €14 million in revenue and expand its team to 120–130 employees. The company will also shift focus from outsourcing projects to enhancing its internal product development, driving innovation in AI-powered solutions for banking and financial services.

As automation and AI reshape the financial landscape, XData Group intends to stand at the forefront of this transformation, empowering its partners to transition seamlessly into a new age of technology, where financial services become more accessible, efficient, and user-centric.

 

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SOURCE XData Group

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