Cloud Encryption Market Overview:
Thales e-Security is a key player in cloud encryption market. It has designed numerous cloud and data security solutions that includes vormetric transparent encryption it is known an advanced encryption solution for physical or virtual servers running from premises to multi-cloud environments. Users can install Vormetric Transparent Encryption agents on Microsoft Azure, Amazon Web Services (AWS) and Google Cloud Platform (GCP) compute instances. Gemalto N.V. a prominent cloud encryption solution provider for enterprises, provides secure migration to cloud and virtual data centers, secure encryption for sensitive data in cloud, cloud access control center, secure cryptographic keys in the cloud and secure data in motion in the cloud.
The Cloud Encryption Market is growing rapidly over 29% of CAGR and is expected to reach at USD 2,959 Million by the end of forecast period.
The key drivers of cloud encryption market is increasing number of spams, cyber-attacks, malicious software and high adoption of cloud based services is driving the market.
The cloud encryption market is segmented on the basis of components, service model, cloud deployment, organization size and vertical. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared. Software as a service platform helps in delivering centrally hosted applications over the internet. SaaS applications are called web-based software, on-demand software, or hosted software. SaaS applications runs on a SaaS provider’s servers.
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Market Players & Key Strategies
Some of the most prominent players of this market are Virtalis, CAE, Qualcomm Technologies, Inc., Mimic Technologies, GE Healthcare and Virtual Realities. The strategies used by these players to stay ahead of the competition are new product development and strategic alliance.
The worldwide cloud encryption market has been segmented into five different parts. Each of these has a sub-segment of their own and they are listed as below:
Cloud Deployment: Hybrid, public and private.
Component: Cloud services (professional services and managed services) and cloud solutions. Cloud solutions have the lead amongst the two as it helps organizations to concentrate on performing their business’s output.
Verticals: Media & entertainment, IT & telecommunication, healthcare & life science, retail & ecommerce and automotive & manufacturing.
Service Model: Infrastructure-as-a-services, platform-as-service and software-as-a-service. Out of these infrastructure-as-a-service platform dominates the market because it is employed to run the applications on the public cloud.
Organization Size: Small & medium enterprises and large enterprises.
Comprehensive Regional Analysis:
Cloud encryption market has its reach across various areas of the world. The major ones are North America, Europe, Asia Pacific and Rest of the World.
Out of these regions, North America leads the market with greater market share. The main reason for this is the prevalence of major players in this region. North America keeps updating itself with the changing industry trends and has a much deserved edge over others.
The next region in line after NA is Europe followed by Asia Pacific. APAC has surfaced as a rapidly growing market in the arena of cloud encryption. It is because in this area IT and healthcare sectors are undergoing a phase of technological evolution.
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January 2018: This year in the month of January, Google launched a brand new security management tool for the clients who used G suite ensemble which offers cloud-based office productivity and collaboration applications. This new tool is called Security Center and it focuses on providing administrators a centralized vision of the main security metrics, which offers more transparency in the security measures for their data on cloud.
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