Global Data Encryption Market Research Report,
End-user (Aerospace & Defense, Automotive, BFSI, IT & Telecom,
Healthcare, Manufacturing), Method (Asymmetric, Symmetric), Organization Size
(Large Organizations), Deployment (On Premise)– Forecast till 2023
Global Data Encryption Market Research Report -
Forecast 2023
Data Encryption market is seeing tremendous
opportunities in the coming future and is forecasted to grow at USD 4 billion
by year 2022 with CAGR of 18%. With the help of trending cloud technology
companies can store their bundle of data and can access from anywhere but the
risk of theft always exist. Data Encryption is a method which allows the user
to encode the data into a code or language which only can be accessed if a
person or organization has the unlocking code. This makes the data more secure
and helps to minimize the misuse.
Segmentation
The global data encryption market is segmented based
on method, deployment, organization size, end-user, and region.
By method, the global data encryption market is
segmented based on symmetric and asymmetric.
By deployment, the global data encryption market is segmented
based on on-cloud and on premise.
By organization size, the global data encryption
market is segmented based on SMEs and large organizations.
By end user, the global data encryption market is
segmented into government, BFSI, healthcare, manufacturing, automotive, IT
& telecom, aerospace & defence, and others.
By region, the global data encryption market is
segmented into North America, Europe, APAC, and the rest of the world.
Leading Players
The
prominent players in the market are- IBM Corporation (U.S.), Microsoft
Corporation, (U.S.), Symantec Corporation (U.S.), HP (U.S.), Intel Security
(U.S.), Oracle Corporation (U.S.), Netapp Inc. (U.S.), Gemalto (Netherlands),
Vormetric Inc. (U.S.), FireEye, Inc. (U.S.) among others.
Regional Analysis
The regional analysis of global data encryption market
is done for North America, Europe, Asia-Pacific, and the rest of the world
Market
Research Future analysis shows that Global Database Encryption market is to
grow exponentially during the forecast period. Growing security threats and
increasing data size which are confidential in nature are some of the key
drivers. Currently, North America is dominating the market due to the high
cyber-attacks in comparison with other countries. Presence of global players in
this U.S. is also giving technology advantage to North America. Asia-Pacific
has emerged as fastest growing market due to the presence of strong
manufacturing sector in China and Japan and strong service industry in India.
North America is expected to dominate the global data
encryption market. The presence of majority of key players providing data
encryption solution in the US is driving the growth of the global data
encryption market in the region.
Asia-Pacific is expected to grow at the fastest rate
in the global data encryption market during the forecast period. Increasing
digitization and adoption of cloud technology has led to an increase in the
amount of data getting handles in countries like India, China, and Japan which
is expected to drive the growth of data automation market in the region. Europe
is expected to contribute significantly to the global data encryption market
during the forecast period. Technological advancement and presence of key
players like Gemalto in the region is expected drive the growth of global data
encryption market.
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