Global Cloud Encryption Market
Report Highlights
Global Cloud Encryption Market
By Service Model (Platform-as-a-Service, Infrastructure-as-a-Service, Software-as-a-Service), Component (Solution, Service), Organization Size (Large Companies, Small and Medium Businesses), Vertical, and Regional Market Size, Status and Forecast to 2025
Market Overview:
The Global Cloud Encryption Market was valued at USD 535.65 million in 2016 and is projected to reach USD 5904.35 million by 2025, growing at a CAGR of 30.56% from 2017 to 2025.
Cloud encryption is a service offered by cloud storage providers whereby data, or text, is transformed using encryption algorithms and is then placed on a storage cloud. By applying encryption and practicing secure encryption key management, companies can ensure that only authorized users have access to sensitive data. Benefits of cloud encryption include – access to authorized user, data protection, meets regulatory compliance requirements.
Market Dynamics:
1. Market Drivers
1.1 Growing demand of cloud-based services
1.2 Increasing need of integration, cloud-based encryption solutions in small and medium businesses
1.3 Increasing cloud adoption and virtualization
1.4 Increasing risks related to cloud environments due to big data analytics
2. Market Restraints
2.1 Poor knowledge about the technology and lack of technical expertise
2.2 Complexities related to the management of encryption keys
2.3 Costly infrastructure
2.4 Less awareness about cloud encryption and performance concerns among companies
Market Segmentation:
The Global Cloud Encryption Market is segmented on the service model, component, organization size, vertical, and region.
1. By Service Model:
1.1 Platform-as-a-Service
1.2 Infrastructure-as-a-Service
1.3 Software-as-a-Service
2. By Component:
2.1 Solution
2.2 Service
2.2.1 Managed services
2.2.2 Professional services
2.2.2.1 Training and Education
2.2.2.2 Planning and Consulting
2.2.2.3 Support and Maintenance
3. By Organization Size:
3.1 Large Companies
3.2 Small and Medium Businesses
4. By Vertical:
4.1 Government and Public Utilities
4.2 IT and Telecommunications
4.3 Banking, Financial Services, and Insurance (BFSI)
4.4 Aerospace and Defense
4.5 Healthcare
4.6 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. IBM Corporation
2. Parablu
3. Secomba
4. Twd Industries AG
5. Skyhigh Networks
6. Ciphercloud
7. Sophos
8. Gemalto
9. Symantec Corporation
10. Hytrust
11. Thales E-Security
12. Netskope
13. Trend Micro
14. Vaultive
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Cloud Encryption Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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