Cloud Encryption Market, by Component (Solution, Service), Service Model (Infrastructure-as-a-Service, Software-as-a-Service, Platform-as-a-Service), Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs), Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare, Government and Public Utilities, Telecom and IT, Retail, Aerospace and Defense, Others) – Global Revenue, Trends, Growth, Share, Size, and Forecast to 2022
A service provided by cloud storage whereby text and data is converted with the help of encryption algorithm which is further kept into storage cloud is called cloud encryption. Usage of encryption has sharply risen in past few years which are being deployed in several ways, from data encryption in file systems and databases and to the data that is being transferred over internal and public networks.
The report on the global Cloud encryption market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions.
It also focuses on the growth drivers and restraints for the key market players during the forecast period.
KEY PREMIUM INDUSTRY INSIGHTS
- The global market for cloud encryption is driven by certain factors such as proliferation in virtualization as well as adoption of cloud, risks associated with cloud environments owing to big data analytics and increasing regulations for escalating adoption of solutions for cloud encryption.
- However, lack of budget for the best-in-class adoption of cloud encryption solutions and lack of awareness associated with cloud encryption and performance related concerns among several enterprises.
- There are various opportunities occurring in the global market for cloud encryption such as proliferation in the market demand for amalgamated cloud encryption solutions in Smes and growing market demand for cloud based services in the vertical of healthcare while complexities in the key encryption management and lack of technology based expertise among workforce enterprises few challenges in the global market for cloud encryption.
Regionally, the global market for cloud encryption is segmented as Europe, Latin America, Asia-Pacific, Middle East & Africa and North America. Among these, North American followed by Europe region is anticipated to be maximum revenue generator in the global market for cloud encryption over the forecast period.
This is because in the developed economies, there is an elevated focus on different innovations that are obtained from R&D activities and security based technology. The Asia Pacific region is projected to grow fast in the market for cloud encryption globally due to growing adoption of cloud based technology within several companies.
This report analyzes the cloud encryption market by the following segments:
- Cloud Encryption Market, by Component
- Cloud Encryption Market, by Service Model
- Cloud Encryption Market, by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Cloud Encryption Market, by Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Government and Public Utilities
- Telecom and IT
- Aerospace and Defense
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