The report of Global Cloud Encryption Market by Services (Infrastructure-as-a-service, Software-as-a-service, Platform-as-a-service), Industrial verticals (BFSI, Manufacturing, Professional services, Healthcare, Government, Telecom & IT, Others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 5.2 Bn by 2027, at a CAGR of XX % during a forecast period.
Growing application of cloud encryption in the IT sector is one of the driving factors that have driven the growth of the global market for cloud encryption. The end-user verticals like telecom providers, banking services, media and entertainment brands, and government solutions use cyber security in the form of cloud encryption in order to protect the data of the consumers. These ensure the service suppliers are equipped against data breaches and cyber-attacks, which have become very prevalent in today’s data-driven globe.
However, high cost related with the cloud storage to providers based in developing economies is expected to challenge growth of the cloud encryption market. Moreover, complexity of sharing cloud encrypted data on mobile or other device platforms is other factor likely to hinder growth of the cloud encryption market.
BFSI segment is expected to account for the largest XX% market share by 2027.
The BFSI segment was be the major end-user to this cloud encryption services market during forecast period. According to this MMR research report, the BFSI industry’s encryption software market share will rise in the coming years and the segment will be the major end-user to this market during the predicted period.
North America cloud encryption market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX% during the forecast period.
North America is a significant region for the cloud encryption market and is likely to witness a consistent growth rate in future thanks to the growing IT industries in the region. Additionally, development in technology that is happening over the region are further driving the growth of this market. R & D in the market regarding cybersecurity is the present trend, and with further growth and commercialization, it is to be adopted in the commercial also in government sectors.
Key players operating in the Global Cloud Encryption Market are Ciphercloud, Inc., Gemalto, HyTrust, Inc., IBM Corporation, Netskope, Inc., Parablu Inc., Secomba GmbH, Sophos Ltd., Symantec Corporation, Thales E-Security, Inc., Trend Micro, Inc., Twd Industries AG, Vaultive Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Cloud Encryption Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Cloud Encryption Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Cloud Encryption Market positioning of competitors.
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