The cloud encryption market is driven by factors, such as proliferation in the cloud adoption and virtualization, bigger risks on cloud environment due to big data analytics, and stringent regulations and compliances.
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The cloud encryption market to provides track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global market. Cloud encryption market expected to grow from USD 645.4 million in 2017 to USD 2,401.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.1% by 2022.
However, the major 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.
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North America is the foremost potential market due to the presence of a large number of players offering the cloud encryption in this region.
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.
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 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.
1 Attractive Market Opportunities in the Cloud Encryption Market
2 Cloud Encryption Market, Market Share of Top Service Models and Top 3 Regions, 2017
3 Lifecycle Analysis, By Region
4 Market Investment Scenario
5 Cloud Encryption Market, By Vertical
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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.
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.
Useful Of this Key Audience follow:
- Cloud encryption vendors
- Network solution providers
- Defense organizations
- Government agencies
- Cyber security vendors
- Cloud security vendors
- Independent software vendors
- Consulting firms
- System integrators
- Value-Added Resellers (VARs)
- Information Technology (IT) security agencies
- Managed Security Service Providers (MSSPs)
The overall Cloud Encryption market was dominated by Prominent players in the market include 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)
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The cloud encryption market has been segmented on the basis of components (solution and service),service models, organization sizes, verticals, and regions.
A detailed analysis of the key industry players has been done to provide key insights into their business overviews, solutions and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the cloud encryption market.
Key Point from Table of Content
7 Cloud Encryption Market Analysis, By Service Model
8 Cloud Encryption Market Analysis, By Organization Size
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
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