23.34% CAGR growth by 2023 in Cloud Encryption Market| Major Players - IBM Corporation, Trend Micro Inc, Dell Technologies Inc., Vaultive Inc., Google Inc., Cisco Sytems Inc., Sophos Group Plc, Hewlett Packard Enterprise Company, amongst others

Market Analysis:

North America to hold the largest Market Share
Recent high-profile data breaches have resulted in an outrage on companies that provide cloud services, as the privacy of user data was compromised. Regulations in the region have also buoyed the demand for security in cloud services, and are required to be adhered by all industry verticals.

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A cloud not only offers an external storage to various end-user verticals, such as electricity utilities, retail, and government, among others, but also is scalable and an on-demand solution, which allows unlimited data access. Cloud computing can improve an enterprise’s computing and analytics capabilities, by allowing it to collate, segregate, process, and analyze great volumes of data. The proliferation of cloud adoption and virtualization, and stringent regulations to increase the adoption rate of cloud encryption solutions are some of the factors that are fueling the market growth, across the globe. With the increased adoption of BYOD system, companies are facing new challenges while handling the data across personnel, and the company-owned devices. The cloud encryption market is expected to witness a high growth in the developing economies that are employing BYOD systems. Energy sector is expected to register the fastest growth amongst others, during the forecast period.

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Market Segments:
Cloud Encryption Market is segmented by:
1. Deployment Type: Data-at-rest, Data-in-transit, Data-in-use
2. End-user Industry: BFSI, Government, IT & Telecommunications, Energy & Power, Healthcare, Retail, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• November 2017 - McAfee acquired Skyhigh Networks, a specialist in the cloud security.
• January 2018 - Vodafone announced a partnership with Trend Micro to launch an endpoint security suite for the business, namely, Vodafone Super Shield.
• January 2018- Google introduced a new security management tool for customers of its G Suite ensemble of cloud-based office productivity and collaboration apps.

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