The Global Key Management as a Service Market was valued at USD 363.54
million in 2018; it is estimated to reach USD 2.29 Billion by 2025 growing at a
CAGR of 31.22% during the forecast period 2019–2025. Market Research Future
(MRFR) has segmented the key management as a service market on the basis of
component, application, organization size, vertical, and region.
In this day and age, data has managed to become more
important and valuable than wealth. This is true because data is gold. After
all, information technology solutions are at an all-time high and are
diversifying rapidly to address other unmet needs of the society or fulfill the
need in a new manner altogether. The development of key management as a service
thus comes at a convenient time when managing sensitive data and login
credentials are extremely important. Most of an individual’s information is
stored online these days due to the accessibility to the internet and devices
like laptops, tablets, and smartphones. Thus in a scenario like this, it
becomes vital that the data is safeguarded and kept secure from malicious and
unlawful sources who may attempt to exploit sensitive information. Many
organizations these days are turning to several cloud service suppliers to
resolve different challenges, and the novel risks and additional responsibilities
that come with key management as a service.
Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/8188
Key Players
The key management as a service market is expected
to be a growing market in the coming years owing to the presence of numerous
large players active in the regional market. IBM Corporation (US), Amazon Web
Services (US), Thales eSecurity (France), Oracle Corporation (US), Equinix,
Inc. (US), Alibaba (China), Egnyte (US), Ciphercloud (US), Google (US),
Keynexus (US), Sepior ApS (Denmark), Unbound Tech (Israel), and Box (US) are
the companies leading the key management as a service market globally.
Segmentation
By component, the key management as a service market
has been segmented into solution and services. Among these, currently, the key
management solutions segment is dominating the market due to the increasing
adoption of key management solutions by enterprises to enhance their IT security
and efficiency. Government initiatives supporting digitalization and increasing
adoption of cloud services are the factors contributing to the growth of key
management solution. Whereas, the service segment comprising professional and
managed services, is projected to witness a high growth rate in the coming
years. Lack of technical expertise and awareness among the enterprises
regarding the key management solutions has propelled the market in favor of key
management service providers.
By application, the key management as a service
market has been segmented into disk encryption, file encryption, database
encryption, communication encryption, and cloud encryption. Among these,
currently, the disk encryption application is expected to dominate the market
due to the increasing demand among enterprises to reduce the risk of
unauthorized access to sensitive information. Whereas, the cloud encryption
segment is expected to witness the fastest CAGR during the forecast period.
Rising adoption of cloud platform has propelled the market of cloud encryption.
By organization size, the market has been segmented
into small- and medium-sized enterprises and large enterprises. Among these,
the large enterprises segment is currently dominating the market due to the
increasing need to safeguard huge volumes of sensitive information present
on-premise as well as cloud platforms. Also, the large enterprises have a
sufficient amount of budget for the IT spends to enhance their security and
efficiency, which further fuels the market for this segment. Whereas, the SMEs
is projected to grow with the fastest CAGR owing to rising adoption of
cloud-based platforms accelerating the demand for KMaaS.
By vertical, the market has been segmented into
BFSI, healthcare, IT and telecommunication, government, retail, manufacturing,
and aerospace, and defense among others. Among these, BFSI is currently
dominating the market due to the high demand for information security.
Increasing adoption of digital and cloud technology across BFSI sectors are some
of the prime factors driving the adoption of key management as a service among
banking and financial institutions. Whereas, healthcare vertical is projected
to grow at the fastest CAGR during the forecast period.
By region, the market has been segmented into North
America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America has been further segmented into the US, Canada, and Mexico.
Europe has been further segmented into Germany, the UK, France, Spain, Norway,
Benelux, and Italy. Asia-Pacific has been sub-segmented into China, Japan,
India, South Korea, Australia, Malaysia, Indonesia, and the Philippines. The
Middle East and Africa have been further segmented into Saudi Arabia, Israel,
Turkey, and South Africa and South America has been classified into Brazil,
Peru, Chile, and Argentina.
Get Complete Report Details at: https://www.marketresearchfuture.com/reports/key-management-service-market-8188
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
No comments:
Post a Comment