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Cloud Encryption Market by Component, Service Model, Organization Size, Vertical And Region - Global Forecast to 2022

Cloud Encryption Market: Global Forecast until 2022

  • August 2017
  • 170 pages
  • ID: 5086553
In this report:
The large enterprises segment is projected to grow at a CAGR of ##.##% from USD ##.## million in 2017 to USD ##.## million by 2022, while the SMEs segment is projected to record a higher CAGR of ##.##% during the forecast period.
North America is expected to account for the largest share of ##.##% of the global cloud encryption market in 2017 and is projected to grow at a CAGR of ##.##% during the forecast period.

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Stringent regulatory compliance and growing concern for cloud data security are driving the cloud encryption market

The cloud encryption market is forecasted to grow from $645.40M in 2017 to $2401.90M by 2022, at a CAGR of 30.10 percent.

The sector is influenced by factors, including proliferation in the cloud adoption and virtualization, bigger risks on cloud environment due to big data analytics, and stringent regulations and compliances. Nevertheless, the main hindrance faced by the enterprises while adopting cloud encryption are lack of budget for the adoption of best-in-class cloud encryption solution, and misbelief of performance issue caused by cloud encryption

Software-as-a-Service model is forecasted to have the quickest rise rate during the outlook period

Software-as-a-Service service model in the cloud encryption market is anticipated to rise at the quickest rate, during the estimate period. The main reason for the high increase rate of SaaS among service models is the increased usage of the cloud-based applications from the cloud service providers.

The SaaS applications might contain malicious activities that may cause significant data loss. Accordingly, the cloud encryption solutions and services help in minimizing the loss of data by encrypting it and allowing only authorized a person to access the same with the help of encryption keys

Banking, Financial services and Insurance (BFSI) vertical is anticipated to have the biggest sector size during the outlook period

With strict regulations governing the BFSI industry and the pressure on IT teams to address the dynamic needs of the businesses, this industry is exploring possibilities of exploiting cloud computing as a mechanism to deliver faster services to the businesses and at the same time reduce the cost of delivering such services. On the other hand, with this evolution arises the need to protect sensitive data that is being acquired and transmitted. This can be achieved using the cloud encryption technology, encrypting confidential data in transit as well as at rest

North America continent is intended to hold the biggest market share, because Asia Pacific (APAC) is anticipated to grow at the quickest rate during the estimate period

North America (NA) is the foremost potential market due to the presence of a big number of actors offering the cloud encryption in this area. This area is forecast to hold the biggest industry size during the outlook period, as institutions are more focused on securing the cloud data at rest as well as in transit. Moreover, institutions have invested hugely in advanced technologies to benefit opposing advantage and improve business operations.

The Asia-Pacific regions is in the initial increase phase; nevertheless, it is the fastest growing area in the overall cloud encryption market. The rising adoption of cloud encryption solutions in this area is due to the wide-spread presence of SMEs that are implementing enhanced cloud encryption solutions to prevent unauthorized access to critical business data residing on the cloud and unethical use of such information.

The break-up profiles of primary participants are given below:

• By organization: Tier 1 - 55.0 percent, Tier 2 - 20.0 percent, and Tier 3 - 25.0 percent

• By description: C-suite - 60.0 percent, D-level - 25.0 percent, and Others - 15.0 percent

• By area: North America continent - 15.0 percent, Europe (EU) - 25.0 percent, Asia-Pac - 30.0 percent, Latin America area - 20.0 percent, and MEA - 10.0 percent

Segment Research

The cloud encryption market has been split on the basis of components (solution and service), service models, organization sizes, verticals, and localities. An in-depth study of the top industry actors has been done to furnish key aspects into their business overviews, solutions and services, top strategies, recent product launches, alliances, strategic agreements and collaborations, business expansions, and opposing landscape combined with the cloud encryption market.

The market research will facilitate the market top players/new sector entrants in this sector in these ways:

• This document breaks down the cloud encryption market comprehensively and offers the best approximations of the revenue data for the global market and the sub-segments across different areas.

• this business report benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

• this business report will facilitate partners to better find out the players and obtain additional insights to improve their rank in the business sector. The competitive outlook section includes vendor comparison of top market actors in the cloud encryption market.

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