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Rising Cybersecurity Threats Fueling The Surge In Enterprise Key Management Market: A Key Factor Shaping the Future of the Enterprise Key Management Market in 2025
Enterprise Key Management Market
The enterprise key management market has grown rapidly in recent years. It will increase from $2.99 billion in 2024 to $3.55 billion in 2025, at a compound annual growth rate (CAGR) of 18.9%. The growth is attributed to the shift to a digital environment, rising demand and adoption of cloud services, increasing data breaches, higher investments in cloud-based services and hardware security modules, and the rapid expansion of small and medium-sized enterprises (SMEs).
The enterprise key management market is expected to grow to $7.09 billion by 2029 at a CAGR of 18.9%, driven by cyber-attacks, data growth, and IoT adoption. Trends include smart technology adoption, encryption key management, and product innovation.
What Are the Main Catalysts for Growth in the Enterprise Key Management Market?
The rise in cyberattacks is expected to drive the growth of the enterprise key management market. Cyberattacks are intentional efforts to undermine the integrity or accessibility of computer systems and data. Enterprise key management helps prevent cyberattacks by ensuring the confidentiality and availability of sensitive data through a robust cryptographic infrastructure. For instance, in 2022, cybercrime reports in Australia increased by 13% from the previous year, and the Anti-Phishing Working Group recorded over 1 million phishing attacks in Q1 of 2022, a 15% rise from the previous quarter. Therefore, the increasing number of cyberattacks is driving the growth of the enterprise key management market.
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Which Businesses Are at the Forefront of Enterprise Key Management Market Development?
Major companies operating in the enterprise key management market are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Broadcom Inc., Qualcomm Technologies Inc., Thales Group, StorMagic Ltd., Hewlett Packard Enterprise Co., CA Technologies Inc., Gemalto NV, Dyadic Security Corp, Townsend Security Inc., Microsystems Inc., Box Inc., RSA Information Security, Quantum Corporation, Egnyte Inc., Venafi Inc., Kryptus, Winmagic Inc., Sepior, Unbound Security, Atakama LLC, Hushmesh Inc., Virgil Security Inc., Voltage Security Inc.
How Is the Enterprise Key Management Market Segmented?
The enterprise key management market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Type: Cloud, On-Premises
3) By Size Of Enterprise: Small And Medium Enterprises, Large Enterprises
4) By Application: Disk Encryption, File And Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption
5) By End-User: BFSI (Banking, Financial Services, And Insurance), Healthcare, Government And Defense, IT And Telecom, Retail, Other End-users
Subsegments:
1) By Solutions: Key Management Software, Key Management Appliances, Cloud-Based Key Management Solutions
2) By Services: Consulting Services, Deployment And Integration Services, Support And Maintenance Services
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Where Is the Enterprise Key Management Market Growth Most Prominent?
North America was the largest region in the enterprise key management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise key management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Enterprise Key Management Global Market Report?
- Market Size Analysis: Analyze the Enterprise Key Management Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Enterprise Key Management Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Enterprise Key Management Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Enterprise Key Management Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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