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This analysis is primarily focused on hardware-based encryption techniques applied to “Data at rest” i.e. information stored on permanent media, such as hard disk drives, USB memory sticks, and flash drives. The first section explores trends that are driving the adoption of hardware-based encryption techniques. The second section discuses hardware encrypted hard drives, self-encrypting drives, and USB flash drives. The section also analyzes currently used encryption algorithms like RSA, AES, etc. as well as futuristic encryption technologies like Quantum Key Distribution. The final chapter provides an analysis of different players in the market and includes a review of six companies: IronKey (by Imation), WinMagic, Vormetric, SanDisk, Seagate, and Rambus.