Global Cloud Encryption Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ 5.2 Bn.
Global Cloud Encryption Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Definition:
Cloud storage offers for cloud encryption services to protect data when it is uploaded to cloud storage. Cloud encryption applications are limited to safeguarding sensitive data such as credentials and certain data, which may be subjected to theft or phishing.
Market Dynamics:
The report contains a detailed study of factors that will drive and restrain the growth of the cloud encryption market. The rapid expansion of information security and business regulations worldwide have resulted in burgeoning security and privacy challenges among the key corporate executives. Because of this the cloud storage providers, few years back had come with encryption services for encrypting the data before it is transmitted to the cloud storage. Also, the encryption is witnessed to be one of the most effective data security strategies used by the organization, some of these strategies comprise scrambling the contents of a file, database and system in a way that it can be deciphered only with the aid of a decryption key.
Technological advancements like automatic detection of breach and deep analysis is expected to present new opportunities to companies operating in global cloud encryption market during the forecast period. However, high budget for the adoption of cloud encryption solution and lack of awareness about cloud encryption are some of the major restraints for the growth of the cloud encryption market globally.
Market Segmentation:
The report provides an in-depth segment analysis of the global cloud encryption market, thereby providing valuable insights at the macro as well as micro levels. Based on service, the software-as-a-service segment was valued at USD XX Mn. in 2019 and is expected to reach USD XX Mn. by 2027 at a CAGR of XX% over the forecast period. Software-as-a-service (SaaS) is more widely used as compared to IaaS and PaaS. By accepting virtualization, enterprises can gain access to virtual servers, virtual storage, and virtual networks. The proliferation of cloud services and virtualization and increased instances of cyber-attacks has increased the essential for encrypting cloud solutions.
Regional Analysis:
North America holds largest XX% market share in cloud encryption market because of presence of global players in the U.S. and leader in technology gives the main advantage to North America. Europe holds the second-largest cloud encryption market position. APAC has emerged as the fastest-growing market in the cloud encryption market. The high presence of IT and healthcare sector in China and Japan and rich service industry in India, as well as rising economy of the Asian countries, is boosting the market of cloud encryption in APAC region.
Industry News:
The research study includes the profiles of leading companies operating in the global cloud encryption market. In January 2018, Google launched a brand new security management tool for the clients who used G suite ensemble which provides cloud-based office productivity and collaboration applications. This new tool is named Security Center and it emphases on providing administrators with a centralized vision of the main security metrics, which offers more transparency in the security measures for their data on the cloud.
Recent Development:
In July 2019, Boxcryptor launched an end-to-end encryption for Google Drive, Dropbox, and other cloud services. By applying AES and RSA encryption, Boxcryptor assigns a high secured key to each file.
The objective of the report is to present a comprehensive analysis of the Global Cloud Encryption Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Cloud Encryption Market dynamics, structure by analyzing the market segments and projects the Global Cloud Encryption Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cloud Encryption Market make the report investor’s guide.
Scope of the Global Cloud Encryption Market
Global Cloud Encryption Market, by Services
• Infrastructure-as-a-service
• Software-as-a-service
• Platform-as-a-service
Global Cloud Encryption Market, by Industrial verticals
• BFSI
• Manufacturing
• Professional services
• Healthcare
• Government
• Telecom & IT
• Others
Global Cloud Encryption Market, by Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Key players operating in Global Cloud Encryption Market
• Ciphercloud, Inc.
• Gemalto
• HyTrust, Inc.
• IBM Corporation
• Netskope, Inc.
• Parablu Inc.
• Secomba GmbH
• Sophos Ltd.
• Symantec Corporation
• Thales E-Security, Inc.
• Trend Micro, Inc.
• Twd Industries AG
• Vaultive Inc.
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