(MENAFN Editorial) According to report published by Grand View Research, The global Enterprise Key Management market size was valued at USD 760.8 million in 2016 and is presumed to gain traction over the forecast period. The globalis expected to reach USD 3.61 billion by 2025, according to a new study by Grand View Research, Inc. Increasing number of data breaches and loss of confidential data, coupled with increasingly stringent regulations and compliance standards to safeguard sensitive data from malicious users, have led to the implementation of advanced enterprise security solutions across different industries. The shift of organizations toward a digital environment for offering digital services and the need to protect increasing volumes of sensitive data are expected to drive the enterprise key management market.
Enterprise key management is an essential component of data encryption solutions and involves managing and dealing with generation, exchange, storage, use, destruction, and replacement of cryptographic keys that encrypt different data sources such as emails, databases, disk drives, big data repositories, backup tapes, and data over cloud environments. The key management solutions protect cryptographic keys throughout their lifecycle and restrain unauthorized users from accessing the keys or data.
Organizations are increasingly deploying encryption solutions to protect confidential data, thus, enabling the growth of the enterprise key management market. However, issues related to lack of skilled key management workforce and standardized key management systems are expected to challenge the industry. Furthermore, the high cost and complex deployment of key management solutions are expected to hinder the market growth. Full Research Report on Enterprise Key Management MarketAnalysis:
Further key findings from the study suggest that:
North America is expected to be the largest market during the forecast period, owing to technological proliferation and accelerated adoption of digital services
Asia Pacific emerged as the fastest-growing market with a CAGR of 22.0% over the forecast period.
Disk encryption segment accounted for 37.07% of the overall market share in 2016, however cloud encryption segment will have the highest growth rate
The BFSI segment accounted for 31.9% in 2016. Increased online and mobile transactions, along with data security regulatory mandates will drive the market growth
Increasing investments in cloud-based encryption solutions and the need to protect increasing data volume will drive the growth of the enterprise key management market
The key participants include EMC Corporation, Gemalto N.V., Hewlett-Packard Enterprise, IBM, Thales e-security, Microsoft Azure, Inc., and CA Technologies
Global EKM market, by vertical, 2017 (%)
Grand View Research has segmented the enterprise key management market on the basis of applications, deployment, enterprise size, verticals, and regions:
Application Outlook (Revenue, USD Million; 2014 - 2025)
Disk Encryption
File/Folder Encryption
Database Encryption
Communication Encryption
Cloud encryption
On Premise
Cloud
Small and Medium Enterprise (SME)
Large Enterprises
BFSI
Government & Defense
Healthcare
IT & Telecom
Retail
Utilities
Others
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Middle East & Africa (MEA)
For more information:
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email:
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website:
MENAFN2111201700703268ID1096123422
