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)

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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