Cloud Encryption Market is growing at Compound Annual Growth Rate (CAGR) of 30.1% and is expected to grow from $645.4 million in 2017 to $2,401.9 million by 2022 due to size, share, survey, industry intelligence, business acumen as well as grab attention on Industry trends of Cloud Encryption Market strategy.
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Software-as-a-Service (SaaS) service model in the cloud encryption market is expected to grow at the fastest rate, during the forecast period. The major reason for the high growth rate of SaaS among service models is the increased usage of the cloud-based applications from the cloud service providers.
North America is the foremost potential market due to the presence of a large number of players offering the cloud encryption in this region
The SaaS applications might contain malicious activities that may cause significant data loss. Therefore, 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.
The following key cloud encryption providers are profiled in the report such as Thales e-Security (La Defense, France), Gemalto N.V. (Amsterdam, Netherlands), Sophos Group plc (Abingdon, UK), Symantec Corporation (California, US), Skyhigh Networks (California, US), Netskope Inc. (California, US), CipherCloud (California, US), HyTrust, Inc. (California, US), Secomba GmbH (Augsburg, Germany), IBM Corporation (New York, US), Trend Micro Incorporated (Tokyo, Japan), Vaultive, Inc. (Massachusetts, US), TWD Industries AG (Unteriberg, Switzerland).
The complete report on Cloud Encryption Market spread across 184 pages, profiling 10 companies and supported with 64 tables and 45 figures.
This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (55%); Tier 2 (20%) and Tier 3 (25%) companies were contacted for interviews.
The interviews were conducted with various key people such as C level (60%), Director Level (25%) and others (15%) from various key organizations. The primary interviews were conducted worldwide covering regions such as Asia-Pacific (30%), Europe (25%), North America (15%), and Row (10%).
This region is expected to hold the largest market size during the forecast period, as organizations are more focused on securing the cloud data at rest as well as in transit.
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Furthermore, organizations have invested hugely in advanced technologies to gain competitive advantage and improve business operations. The APAC region is in the initial growth phase; however, it is the fastest growing region in the global cloud encryption market.
The increasing adoption of cloud encryption solutions in this region is due to the widespread 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.
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