Demand for cloud encryption has grown due to several factors, such as the proliferation of cloud adoption, as well as stringent government regulations and compliance that require the adoption of cloud encryption among various verticals.
Traditionally, it was much easier to protect your data. There were many security features available on the market to protect and safeguard your data. The data came from IT-approved devices and applications controlled by the business and used to store them on servers and storage arrays. They were protected by the placement of the outside persons and the confidence of the parties involved but now, there is a dramatic change in the way things happen. Now, more data than ever is collected by more apps, users, devices, and related hardware, by reducing the amount of business under control. New forms of business activity require easy access from abroad. With the appearance of the cloud, your data might not even be inside. And, those involved now also include third-party cloud providers that are not even part of your organization
The Global market is projected to grow at a CAGR of +25% by 2025
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Ciphercloud, Gemalto N.V., Hytrust, Inc, International Business Machines Corporation, Netskope, Inc, Secomba GmbH, Skyhigh Networks, Sophos Group PLC, Symantec Corporation, Thales E-Security, Trend Micro Incorporated, Vaultive, Inc., TWD Industries AG, Parablu Inc.
The Infrastructure-as-a-Service (IaaS) model is expected to hold the largest market share
The IaaS as servers helps for storage facilities and networking infrastructure in private cloud private stores. This infrastructure is used to run applications in the public cloud. It allows organizations to reduce total cost of ownership as infrastructure it is provided by third-party vendors in the form of cloud-based data centers. However, virtualization introduces new security challenges. Thus, businesses adopt cloud-based encryption solutions and services to safely run critical operations for businesses.
Vertical telecommunication and computing entails a high use of cloud-based applications for their business activities and is therefore often attacked by cybercriminals. Companies in this field are adopting cloud encryption solutions to provide customers with no risk-free services.
Using cloud encryption allowed users to store important information on their mobile devices and use this information through the cloud without any risk. Therefore, cloud encryption solutions help telecoms and IT companies to enhance their services and provide secure information to customers, while adhering to the regulations.
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North America is expected to have the largest market share and dominate the encryption market from 2017 to 2022 due to the early adoption of new and emerging technologies and the presence of a large number of players in the region. APAC offers extensive development capabilities in the cloud encryption market due to the broad presence of massively-embracing cloud computing.
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