Key Management as a Service (KMaaS) Market With Growing Trends in coming Years | IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Google (Alphabet Inc.), Gemalto NV

Key management is the process of managing encryption keys for cloud services that enterprises can use to implement cryptographic functions. It is the management of cryptographic keys for a cryptosystem, which involves generation, creation, protection, storage, exchange replacement, and use of said keys with another type of security system built into large cryptosystems and enables selective restriction for certain keys. It puts users back in control and allows them to manage keys for multiple cloud deployments from a single pane of glass. With support from amazon web services, Microsoft azure, Microsoft azure stack and salesforce.com, KMaaS keeps users in control of encrypted data across multiple clouds from a single pane of glass, including across multiple accounts. Current and future Key Management as a Service market trends are outlined to determine the overall attractiveness of the market.

Increase in focus of enterprises on growing their operational efficiency and migration of many companies toward cloud-based services are the major factors that drive the growth of the KMaaS market. In addition, adoption of new technologies by different SMEs and mandates to meet stringent regulations fuels the growth of the Key Management as a Service market. However, lack of budget, skilled professionals, and awareness among enterprises is the major factor that restrains the market growth. Furthermore, increasing demand for integrated key management software by the enterprises and large-scale adoption of KMaaS software in BFSI vertical are anticipated to create the major opportunities in the market.

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The global Key Management as a Service market is segmented on the basis of component, application, industry vertical, and region. In terms of component, it is segmented into solution and services. By application, it is bifurcated into communication encryption, disk encryption, file/folder encryption, database encryption, and cloud encryption. As per organization size, it is bifurcated into large enterprises and small & medium enterprises. As per industry vertical, it is categorized into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, education, healthcare and others. On the basis of region, the KMaaS market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The key players profiled in the Key Management as a Service market analysis are IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Google (Alphabet Inc.), Gemalto NV, Ciphercloud.com, Thales eSecurity, Egnyte Inc., Sepior ApS, and Unbound Tech.

Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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