The Key Management as a Service Market is anticipated to grow by
US$2,296.32 Million by 2025 rapidly growing at a CAGR of 31.22% during the
forecast period 2019 to 2025. The global key management as a service market is
driven by rising cloud-based platform adoption, increasing pressure to comply
with regulatory enforcement, and expanding organizations' attention on
enhancing their IT effectiveness. These factors have helped shape the key
management as a service market and are expected to boost the growth.
Companies in the key management as a service market
could also face challenges such as low levels of awareness about key management
as a service along with lack of well-developed IT infrastructure. The details
covered in the key management as a service market report cover all the aspects
of the industry. Analysts studying the key management as a service market have
also shared growth projections in the report and have suggested key management
as a service market players to plan business strategies accordingly.
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