The major vendors offering Key Management as a Service Market solution and services are CipherCloud (US), Gemalto (Netherlands), Google (US), IBM (US), Thales e-Security (France), Box (US), Egnyte (US), KeyNexus (Canada), Sepior (Denmark), and Unbound Tech (US). These players have adopted various strategies, like new product launches; partnerships agreements, & collaborations; business expansion; and mergers & acquisitions, to strengthen their foothold in Key Management as a Service market.
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The Key Management as a Service market size is expected to grow from USD 0.37 Billion in 2018 to USD 1.28 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.4%. The demand for KMaaS is likely to be driven by various factors, such as the increasing number of cyber-attacks and the stringent government regulations and compliances.
2 Market Overview
3 Market Ranking Analysis, 2017
4 Competitive Scenario
6 Collaborations and Partnerships
8 Product Launches
The Key Management as a Service market is expected to be driven by factors, such as the increasing migration toward the cloud, the stringent regulations in the KMaaS market, and the organizations’ need to maximize their operational efficiency.
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However, the major hindrance that is expected to be faced by the enterprises while adopting the cloud-based key management solution are believed to be the lack of budget and lack of awareness about KMaaS, and the performance concerns among enterprises.
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The financial sector uses the cloud-based KMaaS solution to control and secure mission-critical data of customers and protect the data from the internal and external risks of theft. In addition, the financial organizations need to enhance their business opportunities and make use of external networks that are unsecured.
Key Target Audience
- KMaaS vendors
- Cyber security vendors
- Defense organizations
- Government agencies
- Independent Software Vendors (ISVs)
- Consulting firms
- System integrators
- Value-added Resellers (VARs)
- Information Technology (IT) security agencies
- Managed Security Service Providers (MSSPs)
The Key Management as a Service market ecosystem comprises encryption component providers, such as CipherCloud (US), Gemalto (Netherlands), Google (US), IBM (US), Thales e-Security (France), Box (US), Egnyte (US), KeyNexus (Canada), Sepior (Denmark), and Unbound Tech (US). The other stakeholders of the Key Management as a Service market include Cloud Service Providers (CSPs), cybersecurity vendors, managed security service providers, and system integrators.
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Objectives of the Study
- To define, describe, and forecast the Key Management as a Service market on the basis of components (solution and services), applications, organization size, verticals, and regions
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
- To forecast the market size of the market segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile the key players of the market and comprehensively analyze their market size and core competencies in the market
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global market
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