New York, United States , Sept. 14, 2024 (GLOBE NEWSWIRE) -- The Global Hard Drive Degausser Market Size is to Grow from USD 101.23 Million in 2023 to USD 148.75 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 3.92% during the projected period.
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Degaussing is a technique for permanently wiping data from a hard drive that involves employing a powerful magnetic pulse to disrupt the magnetic domains on the disk platters. This procedure is often referred to as demagnetizing. Degaussing removes the magnetic field that stores data on a hard disk. This eliminates the local magnetic domains that hold the data, removing any traces. This procedure safely destroys data on hard drives that are no longer in use or are being disposed of. This protects against data breaches and is an NSA-approved technique of data deletion. Drives containing secret data from the Department of Defense (DOD) must be degaussed before shredding. Degaussing can save money since it allows you to reuse the hard disk rather than purchasing a replacement. However, this technique is only effective on magnetic media because it does not operate on solid-state drives (SSDs), memory cards, or USB flash drives which limits its usage.
Browse key industry insights spread across 210 pages with 140 Market data tables and figures & charts from the report on the "Global Hard Drive Degausser Market Size, Share, and COVID-19 Impact Analysis, By Type (Permanent Magnet Degaussers, Capacitive Discharge Degaussers, Coil Degaussers), By Application (Financial Companies, Data Storage Companies, Defense & Government, Hospitals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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The capacitive discharge degaussers segment is anticipated to hold the greatest share of the global hard drive degausser market during the projected timeframe.
Based on the type, the global hard drive degausser market is divided into permanent magnet degaussers, capacitive discharge degaussers, and coil degaussers. Among these, the capacitive discharge degaussers segment is anticipated to hold the greatest share of the global hard drive degausser market during the projected timeframe. Capacitive discharge degaussers possess high power and strong magnetic fields which are essential for data security in the government, banking, and healthcare sectors, driving market growth.
The data storage companies segment is anticipated to grow at the fastest pace in the global hard drive degausser market during the projected timeframe.
Based on the application, the global hard drive degausser market is divided into financial companies,
data storage companies, defense & government, and hospitals. Among these, the data storage companies segment is anticipated to grow at the fastest pace in the global hard drive degausser market during the projected timeframe. Data storage companies are increasing their investment in degaussing technology to manage enormous amounts of sensitive information, driven by fears about data breaches, regulatory compliance, and correct disposal of obsolete storage devices.
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North America is expected to hold the largest share of the global hard drive degausser market over the forecast period.
North America is expected to hold the largest share of the global hard drive degausser market over the forecast period. The increasing demand for data destruction solutions in the region is driven by strict regional laws, advanced techniques, and the presence of leading technology providers and a well-established IT infrastructure are some of the factors contributing to the hard drive degaussers demand.
Asia Pacific is predicted to grow at the fastest pace in the global hard drive degausser market during the projected timeframe. The region's IT and data storage industries are quickly increasing, particularly in China, Japan, and India, as a result of improved digital infrastructure, enhanced data security awareness, and regulatory requirements.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hard Drive Degausser Market include Garner Products, Inc., VS Security Products Ltd., Proton Data Security, Data Security, Inc., Whitaker Brothers, ZhongChao Weiye, Sichuan Jiamei Xincheng, EDR Solutions, Security Engineered Machinery (SEM), Intimus International, HSM GmbH + Co. KG, Verity Systems Ltd., Applied Magnetics Laboratory, Inc., ACE Equipment Company, Kroll Ontrack, LLC, and Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hard drive degausser market based on the below-mentioned segments:
Global Hard Drive Degausser Market, By Type
- Permanent Magnet Degaussers
- Capacitive Discharge Degaussers
- Coil Degaussers
Global Hard Drive Degausser Market, By Application
- Financial Companies
- Data Storage Companies
- Defense & Government
- Hospitals
Global Hard Drive Degausser Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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