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Cloud Encryption Software Market by Component (Service, and Software), Deployment Model (Cloud, and On-Premise), Application (Communication Encryption, Cloud Encryption, Disk Encryption, and File/Folder Encryption), Organization Size (Large Size Organization, and Small & Medium Size Organization), and Industry Vertical (Aerospace, BFSI, Government & Defense, Healthcare, IT & Telecom, Media & Entertainment, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09568
Pages: NA
Jan 2021 | 87 Views
 
Author(s) : NA
Tables: NA
Charts: NA
 

COVID-19

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Cloud Encryption Software Market Insight

Cloud encryption is a service provided by cloud security organizations that studies different algorithms for converting data or text into encrypted code. Encryption is considered as one of the most effective methods to data security, running the content of some system, database, or file in such a way that it is difficult to decode without a decryption key. By implementing encryption and managing secure encryption management, companies can ensure that only authorized users have access to sensitive data. Even though stolen, accessed, or lost without authorization, encrypted data is unreadable and basically meaningless without its key. The scrambled code sent to the cloud. The data is kept secure, due to cloud data encryption code have been decrypted with a data encryption key.

Cloud Encryption Software Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

Component, Deployment Model, Application, Organization Size, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Check Point Software Technologies Ltd., Cisco Systems, Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Sophos Ltd., Symantec Corp., Thales Group, and Trend Micro Inc.,

 

Impact of COVID-19 on Cloud Encryption Software Market: 

  • The COVID-19 spread across the country (or across the continent) has made it difficult to detect malicious activity, and the more complex response to these activities is likely to reduce the workload of many security teams. Modifying patches on the system can also be a challenge if the security forces are not working.
  • COVID-19 Outbreaks appear to be exacerbated by the fact that many students and staff working from home, enterprise virtual private network servers have become a lifeline for schools or companies and will focus more on their availability and safety.
  • The administration's precaution for security vulnerabilities is likely to lead to incorrect configuration in virtual private networks. It expose sensitive information on the Internet and expose devices to the point of Device Denial (DOS) attacks. In addition to this, some users may use personal computers to perform official computer duties, which pose a significant risk to organizations.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The growing demand for SME integrated data protection solutions, growing concerns related to critical data loss, strict regulatory standards and data privacy compliance are the major factors driving the growth of cloud encrypted software market. However, complexities in effective management of encryption key hamper the market growth. Contrarily, the exponential increase in the adoption of cloud and virtualization technologies and increased adoption of encryption software across industries are the opportunity factors of the global market. 

Growth in demand for integrated data protection solutions in SMEs

SMEs have strict security measures for protecting their networks, data, applications and endpoints. The demand for cloud-based solutions is growing rapidly across enterprises as the leading delivery model will be necessary to meet IT security requirement. Cloud deployment provides scalability, flexibility, and cost-effectiveness to simplify business operations. With SMEs turning their attention to cloud solutions, cloud encryption solutions and service providers are expected to expect increasing opportunities to protect SME data from security breaches. For instance, in 2018, the European Banking Authority (EBA) enacted security rules for financial institutions regarding Internet payment services. Payment Service Provider (PSP) Responsibilities For example, PSPs must ensure the use of end-to-end encryption when exchanging sensitive data over the Internet between the parties communicating to protect the privacy and integrity of the data. Therefore, more number of such integration expected to create the demand for cloud encryption software.

Difficulties in effective management of encryption key 

Many organizations have been dependent on different encryption systems which is delivered by vendors. Organizations with different encryption systems have critical management software that allows handling of keys on multiple encryption systems. The inefficiency of key management software to manage key is a major concern for administrators and the IT team. The encryption key have destroyed and at that point the original business data became unhelpful and presented to the programmer. Therefore, difficult in effective management of encryption key hamper the growth of market. 

Key segments covered:

Segments

Subsegments

  Component

  • Service
  • Software

  Deployment Model

  • Cloud
  • On-Premise

  Application

  • Communication Encryption
  • Cloud Encryption
  • Disk Encryption
  • File/Folder Encryption

  Organization Size

  • Large Enterprise
  • Small & Medium Enterprises

  Industry Vertical

  • BFSI
  • Government & Defense
  • Healthcare
  • IT & Telecom
  • Media & Entertainment
  • Retail
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the cloud encryption software market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cloud encryption software market share.
  • The current market is quantitatively analyzed from 2021 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed cloud encryption software market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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