Application-level Encryption Market Research Report
The GMI Research's latest analysis reveals that the
Application-level Encryption Market is slated to register a significant CAGR
over the forecast period. This is attributed to the high adoption of encryption
technologies among SMEs to prevent internal breaches of data within a company
and the growing adoption of encryption software to avoid cyber-attacks and
internal breaches of data.
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Application-level Encryption Market’s leading
Manufacturers:
·
IBM Corporation
·
Symantec Corporation
·
McAfee LLC
·
Microsoft Corporation
·
Thales e-Security Inc.
·
Micro Focus International plc
·
Sophos Group plc
·
Amazon Web Services
·
Alphabet Inc.
·
Prime Factors
Application-level Encryption Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The high adoption of encryption technologies among SMEs to
prevent internal breaches of data within a company is a key driver contributing
to the growth of the global application-level
encryption market size. Organizations are deploying digitization in several
business processes that help in rising operational effectiveness. The majority
of the enterprises heavily invest in encryption technology to offer security to
sensitive information and improve productivity. The data encryption vendors
incorporate and provide advanced ALE solutions that help in encrypting the data
before writing and reading on the server. The new data stored on the server is
saved in an encrypted format, so it becomes difficult to breach security for
decryption without the authorized permission. ALE solutions enhance the data
accuracy in the encrypted digital form, which will boost the growth of the application-level
encryption market. Improving the data accuracy aids in reducing the operational
cost and make simple the numerous data-related operational processes. The
growing adoption of encryption software to avoid cyber-attacks and internal
breaches of data has fuelled the markets' demand. On the other hand, the factor
hindering the growth of the market include increased initial costs.
Deployment
Mode Segment Drivers
Based on deployment mode, the cloud is expected to rise at a
higher CAGR during the forecast period due to the reduced latency and low cost.
The majority of the leading storage vendors and operating systems offer
data-at-rest encryption. For example, Google Cloud, Amazon Web Services, and
Microsoft Azure provide data-at-rest encryption.
Regional
Drivers
Based on the region, North America is projected to dominate
the market due to the high adoption of improved encryption solutions owing to
increasing security breaches. On the other hand, the Asia-Pacific is expected
to rise at a higher CAGR during the forecast period due to the growing
development and strong adoption of advanced and secure solutions. Moreover,
rapid economic advancements, increasing urbanization, and rising technological
developments are some other factors propelling the growth of the
application-level encryption market.
Application-level Encryption Market Segmentation:
Segmentation
by Deployment Type:
·
On-premise
·
Cloud
Segmentation
by Enterprise Size:
·
SMEs
·
Large Enterprises
Segmentation
by End-User:
·
BFSI
·
IT & Telecom
·
Healthcare
·
Government
·
Manufacturing
·
Retail & E-commerce
·
Logistics & Transportation
·
Others
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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