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Cloud Encryption Service Market worth $19.20 billion by 2030, growing at a CAGR of 18.63% - Exclusive Report by 360iResearch
Cloud Encryption Service Market | 360iResearch
The Global Cloud Encryption Service Market to grow from USD 5.80 billion in 2023 to USD 19.20 billion by 2030, at a CAGR of 18.63%.
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Cloud encryption services transform data from its initial plain text format to an unreadable form, such as ciphertext, before it is transmitted to and stored in the cloud. Cloud encryption service is delivered by cloud storage providers whereby a customer's data is transformed using encryption algorithms into ciphertext and stored in the cloud. These services help organizations protect their cloud data through robust encryption. Several government regulations for data privacy and security in organizations have encouraged the adoption of the encryption service and have created lucrative growth in the market. The combination of data security concerns, risk mitigation, and vendor competition has contributed to the rising market demand of cloud encryption services in the context of increasing cloud-based deployments and virtualization. However, the high cost of cloud encryption services, complexities in the implementation in the organizations, and lack of expertise and skilled persons may limit the adoption of cloud encryption services. The increasing demand and integration of cloud encryption services in small and medium-sized enterprises create a lucrative market opportunity in the forecasted period.
The Americas cloud encryption service market is advanced, driven by the presence of experienced technology companies and startups constantly developing new solutions to ensure cloud data security. The region observes various partnership and agreement strategies uptaken by the players with end-users to accelerate their product deployment as software-as-a-service or platform-as-a-service. The Asia-Pacific region portrays many small and medium-sized enterprises that are gradually shifting to cloud computing, particularly in the BFSI and IT sectors. The increasing cases of cyberattacks on the region's IT infrastructure have necessitated end-users to adopt cloud data encryption services. The European region provides strict rules and regulations regarding the use of cloud computing and requires users to maintain the security of the data they store in the cloud. Multiple standards and guidelines have been put forward to increase the use of security and encryption solutions. Germany, Italy, the UK, UAE, and the Netherlands are also home to several startups working on integrating new technologies while catering to individual and professional cloud users.
Market Segmentation & Coverage:
This research report categorizes the Cloud Encryption Service Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Encryption Type, market is studied across Asymmetric Encryption and Symmetric Encryption. The Asymmetric Encryption is projected to witness significant market share during forecast period.
Based on Component, market is studied across Services and Solutions. The Services is further studied across Consulting Services, Managed Services, and Professional Services. The Services is projected to witness significant market share during forecast period.
Based on Deployment Model, market is studied across Infrastructure-as-a- Service, Platform-as-a- Service, and Software-as-a- Service. The Software-as-a- Service is projected to witness significant market share during forecast period.
Based on Industry, market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Energy & Utilities, Government, Public Sector & Education, Healthcare & Life Sciences, and Information Technology & Telecommunication. The Government, Public Sector & Education is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Cloud Encryption Service Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Cloud Encryption Service Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Cloud Encryption Service Market, highlighting leading vendors and their innovative profiles. These include Amazon Web Services, Inc., Apple Inc., BAE Systems PLC, Broadcom Inc., Cisco Systems, Inc., Cloudflare, Inc., Dell Inc., Echoworx Corporation, Entrust Corporation, Forcepoint LLC, Google LLC by Alphabet Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Lookout, Inc., McAfee Corp., Microsoft Corporation, Netskope, Inc., OpenText Corp., Oracle Corporation, Palo Alto Networks, Inc., pCloud International AG, Proofpoint, Inc., Proton AG, Salesforce, Inc., Sophos, Ltd., Thales Group, Trend Micro, Inc., TWD Industries AG, Virtru, VMware, Inc., and WinMagic.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Cloud Encryption Service Market, by Encryption Type
7. Cloud Encryption Service Market, by Component
8. Cloud Encryption Service Market, by Deployment Model
9. Cloud Encryption Service Market, by Industry
10. Americas Cloud Encryption Service Market
11. Asia-Pacific Cloud Encryption Service Market
12. Europe, Middle East & Africa Cloud Encryption Service Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Cloud Encryption Service Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Cloud Encryption Service Market?
3. What is the competitive strategic window for opportunities in the Cloud Encryption Service Market?
4. What are the technology trends and regulatory frameworks in the Cloud Encryption Service Market?
5. What is the market share of the leading vendors in the Cloud Encryption Service Market?
6. What modes and strategic moves are considered suitable for entering the Cloud Encryption Service Market?
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