Press release
Enterprise Key Management Market Poised to Hit $7.02 Billion by 2029 with Accelerating Growth Trends
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Enterprise Key Management Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the enterprise key management market has expanded rapidly. The market size, which is projected to be $2.99 billion in 2024, is expected to rise to $3.53 billion in 2025, representing a compound annual growth rate (CAGR) of 18.2%. Factors contributing to this growth in the historic period include the digital transformation of organizations, increased demand and usage of cloud services, a surge in data breaches, rising investments in cloud-based services and hardware security modules, as well as the fast-paced growth of small and medium-sized enterprises (SMEs).
Enterprise Key Management Market Size Forecast: What's the Projected Valuation by 2029?
The market for enterprise key management is projected to experience swift expansion in the forthcoming years, escalating to a valuation of $7.02 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 18.7%. The predicted surge in the forecast period can be credited to a rise in cyber-attacks, an escalating amount of complex and confidential data, pervasive implementation of IoT, a monumental increase in data, and an upsurge in security threats. Key trends during the prediction period consist of the uptake of intelligent technologies, advancements in technology, the surge in partnerships and start-ups, the acceptance of encryption key management, and product innovation.
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What Are the Drivers Transforming the Enterprise Key Management Market?
The escalation in cyberattacks is anticipated to spur the growth of the enterprise key management industry. Cyberattacks, which involve intentional and unauthorized attempts to jeopardize computer systems, networks, or confidential data security, necessitate the use of enterprise key management as it lays the groundwork for secure cryptographic infrastructure. This ensures the secrecy and availability of sensitive data and communicative streams within a firm. For example, the Australian Cyber Security Centre reported in February 2023 that the number of cybercrime reports received in 2022 was 76,000, an increase of 13% from the previous year. Moreover, the U.S. organization, the Anti-Phishing Working Group, reported in June 2022 that 1,025,968 phishing attacks were documented in the first quarter of 2022, 15% more than the 888,585 assaults reported in the last quarter of 2021. Hence, the rising number of cyberattacks is pushing the growth of the enterprise key management industry.
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What Long-Term Trends Will Define the Future of the Enterprise Key Management Market?
Leading companies in the enterprise key management market are introducing ground-breaking products like cloud-based enterprise key management services to accommodate customers with improved functionalities. Services of this kind offer customers a unified platform for managing encryption keys across diverse cloud platforms and operating systems. In October 2022, for example, Cryptomathic, a Denmark-based enterprise key management provider, unveiled the Cryptomathic AWS (Amazon Web Services) BYOK (Bring Your Own Key) service. This service, a cloud-based innovation, offers security-orientated AWS users the ability to smoothly utilise high-end BYOK encryption key management features worldwide. This distinctive service lets enterprises enhance the default-generated encryption keys provided by the cloud provider by implementing their own, leading to elevated security and control levels. Additionally, this strategy simplifies compliance audits and provides organizations with increased adaptability and assurance in handling encryption keys within the AWS ecosystem.
Which Segments in the Enterprise Key Management Market Offer the Most Profit Potential?
The enterprise key managementmarket 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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Which Firms Dominate the Enterprise Key Management Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Enterprise Key Management Market?
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.
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