HOME Top Market Reports Cloud Encryption Market by Component (Solution and Service), Service Model (Infrastructure-as-a-Service, Software-as-a-Service, and Platform-as-a-Service), Organization Size, Vertical, and Region - Global Forecast to 2022

Cloud Encryption Market by Component (Solution and Service), Service Model (Infrastructure-as-a-Service, Software-as-a-Service, and Platform-as-a-Service), Organization Size, Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: TC 5523

 

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The cloud encryption market is expected to grow from USD 529.5 Million in 2016 to USD 2,401.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.1% during the forecast period. Proliferation in the cloud adoption and virtualization, and stringent regulations to increase the adoption of cloud encryption solutions are some of the factors fueling the growth of the market across the globe. The base year considered for this study is 2016, and the forecast period is 2017–2022.

Objectives of the Study

  • To define, describe, and forecast the cloud encryption market on the basis of components (solutions and services), service models, organization sizes, verticals, and regions
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
  • To forecast the market size of the market segments with respect to the 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile the key players of the cloud encryption market and comprehensively analyze their market size and core competencies in the market
  • To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global market

The research methodology used to estimate and forecast the market begins with the capturing of data on the revenues of the key vendors through secondary sources, such as annual reports, press releases, and associations and consortiums such as RSA Security, the SANS Institute, SC Magazine, and Cloud Security Alliance (CSA), and databases such as Factiva, BusinessWeek, company websites, and news articles. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global cloud encryption market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments. The breakdown of primary profiles is depicted in the below figure:

Cloud Encryption Market

To know about the assumptions considered for the study, download the pdf brochure

The cloud encryption ecosystem comprises cloud encryption component providers, such as Thales e-Security (La Defense, France), Gemalto N.V. (Amsterdam, Netherlands), Sophos Group plc (Abingdon, UK), Symantec Corporation (California, US), and Skyhigh Networks (California, US). Other stakeholders of the cloud encryption market include Cloud Service Providers (CSPs), cyber security vendors, managed security service providers, and system integrators.

Key Target Audience

  • Cloud encryption vendors
  • Network solution providers
  • Defense organizations
  • Government agencies
  • Cyber security vendors
  • Cloud security vendors
  • Independent software vendors
  • Consulting firms
  • System integrators
  • Value-Added Resellers (VARs)
  • Information Technology (IT) security agencies
  • Managed Security Service Providers (MSSPs)

 “The research study answers several questions for the stakeholders, primarily which market segments to focus in the next 2 to 5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the cloud encryption market to forecast the revenues and analyzes the trends in each of the following submarkets:

By Component

  • Solution
  • Service
    • Professional Service
      • Support and Maintenance
      • Training and Education
      • Planning and Consulting
    • Managed Service

By Service Model

  • Infrastructure-as-a-Service
  • Software-as-a-Service
  • Platform-as-a-Service

By Organization Size

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare
  • Government and Public Utilities
  • Telecom and IT
  • Retail
  • Aerospace and Defense
  • Others (manufacturing, education, and media and entertainment)

By Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Others
  • APAC
    • China
    • Australia and New Zealand
    • Singapore
    • Others
  • MEA
    • Middle East
    • Africa
  • Latin America
    • Mexico
    • Brazil
    • Others

Available Customizations

With the given market data, MarketsandMarkets offers customizations based on the company-specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the APAC market into countries contributing 75% of the regional market size
  • Further breakdown of the North American market into countries contributing 75% of the regional market size
  • Further breakdown of the Latin American market into countries contributing 75% of the regional market size
  • Further breakdown of the MEA market into countries contributing 75% of the regional market size
  • Further breakdown of the European market into countries contributing 75% of the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5).

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions and Limitations
           2.4.1 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Cloud Encryption Market
    4.2 Market Share of Top Service Models and Top 3 Regions, 2017
    4.3 Lifecycle Analysis, By Region
    4.4 Market Investment Scenario
    4.5 Market By Vertical

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Proliferation in Cloud Adoption and Virtualization
                    5.2.1.2 Risks Related to Cloud Environments, Due to Big Data Analytics
                    5.2.1.3 Regulations to Increase the Adoption of Cloud Encryption Solutions
           5.2.2 Restraints
                    5.2.2.1 Lack of Budget for the Adoption of the Best-In-Class Cloud Encryption Solutions
                    5.2.2.2 Lack of Awareness About Cloud Encryption and Performance Concerns Among Enterprise
           5.2.3 Opportunities
                    5.2.3.1 Proliferation in the Demand for Integrated, Cloud-Based Encryption Solutions in Smes
                    5.2.3.2 Increase in the Demand for Cloud-Based Services in the Healthcare Vertical
           5.2.4 Challenges
                    5.2.4.1 Complexities in the Management of Encryption Keys
                    5.2.4.2 Lack of Technical Expertise Among Enterprise Workforce
    5.3 Cloud Encryption Scalability for IaaS, SaaS, and PaaS Cloud Services
    5.4 Cloud Encryption for Public, Private, and Hybrid Clouds
    5.5 Regulatory Implications
           5.5.1 Payment Card Industry Data Security Standard
           5.5.2 Health Insurance Portability and Accountability Act
           5.5.3 Federal Information Security Management Act
           5.5.4 Sarbanes–Oxley Act
           5.5.5 Gramm–Leach–Bliley Act
           5.5.6 Federal Information Processing Standards
           5.5.7 General Data Protection Regulation
    5.6 Innovation Spotlight
    5.7 Use Cases
           5.7.1 Large-Scale Adoption of Cloud Encryption By Defense Companies
           5.7.2 Commercial-Grade Security With the Help of Encryption for Major Banks in Asia Pacific
           5.7.3 Encryption Practice Adopted By A Major Asia Pacific Stock Exchange
           5.7.4 Enterprises’ Dependence on Cloud Email Encryption and Data Loss Prevention Solutions
           5.7.5 Healthcare Vertical Relying on Cloud-Based Encryption Solutions

6 Cloud Encryption Market Analysis, By Component (Page No. - 48)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Types of Data Encrypted
                    6.2.1.1 Data at Rest
                    6.2.1.2 Data in Transit
           6.2.2 Types of Encryption
                    6.2.2.1 Symmetric Encryption
                    6.2.2.2 Asymmetric Encryption
           6.2.3 Key Management
           6.2.4 Types of Encryption Algorithms
                    6.2.4.1 Data Encryption Standard (DES)
                    6.2.4.2 Triple Data Encryption Standard (Triple DES)
                    6.2.4.3 Advanced Encryption Standard (AES)
                    6.2.4.4 Blowfish
                    6.2.4.5 RSA
                    6.2.4.6 Diffie-Hellman
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Support and Maintenance
                    6.3.1.2 Training and Education
                    6.3.1.3 Planning and Consulting
           6.3.2 Managed Services

7 Cloud Encryption Market Analysis, By Service Model (Page No. - 60)
    7.1 Introduction
    7.2 Infrastructure-As-A-Service
    7.3 Software-As-A-Service
    7.4 Platform-As-A-Service

8 Cloud Encryption Market Analysis, By Organization Size (Page No. - 65)
    8.1 Introduction
    8.2 Large Enterprises
    8.3 Small and Medium-Sized Enterprises

9 Cloud Encryption Market Analysis, By Vertical (Page No. - 69)
    9.1 Introduction
    9.2 Banking, Financial Services, and Insurance
    9.3 Healthcare
    9.4 Telecom and IT
    9.5 Government and Public Utilities
    9.6 Aerospace and Defense
    9.7 Retail
    9.8 Others

10 Geographic Analysis (Page No. - 78)
     10.1 Introduction
     10.2 North America
             10.2.1 United States
             10.2.2 Canada
     10.3 Europe
             10.3.1 United Kingdom
             10.3.2 Germany
             10.3.3 France
             10.3.4 Others
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 Australia and New Zealand (ANZ)
             10.4.3 Singapore
             10.4.4 Others
     10.5 Middle East and Africa
             10.5.1 Middle East
             10.5.2 Africa
     10.6 Latin America
             10.6.1 Mexico
             10.6.2 Brazil
             10.6.3 Others

11 Competitive Landscape (Page No. - 99)
     11.1 Microquadrant Overview
             11.1.1 Visionary Leaders
             11.1.2 Innovators
             11.1.3 Dynamic Differentiators
             11.1.4 Emerging Companies
     11.2 Competitive Benchmarking
             11.2.1 Strength of Product Portfolio in the Market
             11.2.2 Business Strategy Excellence Adopted in the Cloud Encryption Market

12 Company Profiles (Page No. - 103)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     12.1 Ciphercloud
     12.2 Gemalto
     12.3 Hytrust
     12.4 IBM
     12.5 Netskope
     12.6 Secomba
     12.7 Skyhigh Networks
     12.8 Sophos
     12.9 Symantec
     12.10 Thales E-Security
     12.11 Trend Micro
     12.12 Vaultive
     12.13 Twd Industries AG
     12.14 Parablu

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 157)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (65 Tables)

Table 1 Evaluation Criteria
Table 2 Cloud Encryption Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 3 Innovation Spotlight: Latest Cloud Encryption Innovations
Table 4 Cloud Encryption Market Size, By Component, 2015–2022 (USD Million)
Table 5 Solutions: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Services: Market Size, By Type, 2015–2022 (USD Million)
Table 8 Professional Services Market Size, By Region, 2015–2022 (USD Million)
Table 9 Professional Services Market Size, By Type, 2015–2022 (USD Million)
Table 10 Support and Maintenance Market Size, By Region, 2015–2022 (USD Million)
Table 11 Training and Education Market Size, By Region, 2015–2022 (USD Million)
Table 12 Planning and Consulting Market Size, By Region, 2015–2022 (USD Million)
Table 13 Managed Services Market Size, By Region, 2015–2022 (USD Million)
Table 14 Cloud Encryption Market Size, By Service Model, 2015–2022 (USD Million)
Table 15 Infrastructure-As-A-Service: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Software-As-A-Service: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Platform-As-A-Service: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Cloud Encryption Market Size, By Organization Size, 2015–2022 (USD Million)
Table 19 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Cloud Encryption Market Size, By Vertical, 2015–2022 (USD Million)
Table 22 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Healthcare: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Telecom and IT: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Government and Public Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Aerospace and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Retail: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Cloud Encryption Market Size, By Region, 2015–2022 (USD Million)
Table 30 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 31 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 32 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 33 North America: Market Size, By Service Model, 2015–2022 (USD Million)
Table 34 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 35 North America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 36 North America: Market Size, By Country, 2015–2022 (USD Million)
Table 37 Europe: Cloud Encryption Market Size, By Component, 2015–2022 (USD Million)
Table 38 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 39 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 40 Europe: Market Size, By Service Model, 2015–2022 (USD Million)
Table 41 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 42 Europe: Market Size, By Vertical, 2015–2022 (USD Million)
Table 43 Europe: Market Size, By Country, 2015–2022 (USD Million)
Table 44 Asia Pacific: Cloud Encryption Market Size, By Component, 2015–2022 (USD Million)
Table 45 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 46 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 47 Asia Pacific: Market Size, By Service Model, 2015–2022 (USD Million)
Table 48 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 49 Asia Pacific: Market Size, By Vertical, 2015–2022 (USD Million)
Table 50 Asia-Pacific: Market Size, By Country, 2015–2022 (USD Million)
Table 51 Middle East and Africa: Cloud Encryption Market Size, By Component, 2015–2022 (USD Million)
Table 52 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 53 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 54 Middle East and Africa: Market Size, By Service Model, 2015–2022 (USD Million)
Table 55 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 56 Middle East and Africa: Market Size, By Vertical, 2015–2022 (USD Million)
Table 57 Middle East and Africa: Market Size, By Country, 2015–2022 (USD Million)
Table 58 Latin America: Market Size, By Component, 2015–2022 (USD Million)
Table 59 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 60 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 61 Latin America: Market Size, By Service Model, 2015–2022 (USD Million)
Table 62 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 63 Latin America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 64 Latin America: Market Size, By Country, 2015–2022 (USD Million)
Table 65 Market Ranking for the Cloud Encryption Market, 2017


List of Figures (36 Figures)

Figure 1 Cloud Encryption Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Cloud Encryption Market: Assumptions
Figure 8 Market Size By Component (2017 vs 2022)
Figure 9 North America is Estimated to Hold the Largest Market Share in 2017
Figure 10 Top 3 Revenue Segments of the Cloud Encryption Market
Figure 11 Need for Stringent Compliance is Expected to Boost the Cloud Encryption Market
Figure 12 Infrastructure-As-A-Service and North America are Estimated to Have the Largest Market Shares in 2017
Figure 13 The Cloud Encryption Market has Immense Opportunities for Growth in Asia Pacific
Figure 14 Asia Pacific is Expected to Emerge as the Best Market for Investment in the Next 5 Years
Figure 15 Banking, Financial Services, and Insurance Vertical is Estimated to Have the Largest Market Size in 2017
Figure 16 Cloud Encryption Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Security Technologies Used for Protecting Data on the Cloud
Figure 18 Enterprise Plan for Adoption of Encryption
Figure 19 Acceleration in the Practice of Data Encryption By Cloud Service Providers
Figure 20 Management of Encryption Keys By Enterprise Workforce
Figure 21 Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Managed Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Training and Education Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Software-As-A-Service Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Telecom and IT Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 27 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 28 North America: Market Snapshot
Figure 29 Asia Pacific: Market Snapshot
Figure 30 Cloud Encryption Market (Global), Competitive Leadership Mapping, 2017
Figure 31 Gemalto: Company Snapshot
Figure 32 IBM: Company Snapshot
Figure 33 Sophos: Company Snapshot
Figure 34 Symantec: Company Snapshot
Figure 35 Thales E-Security: Company Snapshot
Figure 36 Trend Micro: Company Snapshot

The cloud encryption market is expected to grow from USD 645.4 Million in 2017 to USD 2,401.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.1%. The demand for cloud encryption is driven by various factors, such as proliferation in the adoption of cloud technology, and stringent government regulations and compliances that mandate the adoption of cloud encryption among various verticals.

The market has been segmented on the basis of components (solutions and services), service models, organization sizes, verticals, and regions. The services segment is expected to grow at the highest CAGR during the forecast period, and the solutions segment is estimated to have the largest market size in 2017 in the cloud encryption market. Security systems have to be upgraded on a regular basis to counter the newly available threats, attacks, ransomware, and sophisticated cybercriminals. As a result, companies are rapidly outsourcing their network security concerns to specialized service providers, known as Managed Security Service Providers (MSSPs). Thus, among services, the managed services segment is expected to grow at the highest CAGR during the forecast period.

The Infrastructure-as-a-Service (IaaS) segment is estimated to hold the largest market share in 2017 among other service models. IaaS includes the offerings, such as servers, storages, and networking infrastructure on-premises private cloud. This infrastructure is used to run the applications on the public cloud. Thus IaaS providers are increasingly adopting cloud encryption solutions and services to securely run business-critical functions.

Cloud encryption solutions and services have been deployed across various verticals, including Banking, Financial Services, and Insurance (BFSI); aerospace and defense; government and public utilities; healthcare; telecom and IT; retail; and others manufacturing, education, and media and entertainment). The telecom and IT vertical is expected to grow at the highest CAGR during the forecast period. However, the BFSI vertical is estimated to have the largest market size in 2017.

The global cloud encryption market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue-generating region for cloud encryption vendors in 2017. This is mainly because in the developed economies of the US and Canada, there is high focus on innovations obtained from research and development, and security technologies. The APAC region is expected to be the fastest-growing region in the cloud encryption market. The growth in this region is primarily driven by the increasing adoption of cloud technology within organizations.

Cloud Encryption Market

Adoption of cloud encryption is increasing in the market, owing to the increasing adoption of cloud technology among enterprises and the need to adhere to various compliances put forth by the government for the protection of mission-critical organizational data residing on the cloud. However, the major hindrance faced by enterprises while adopting cloud encryption is the lack of budget and misbelief of performance issues.

The major vendors providing cloud encryption are Thales e-Security (La Defense, France), Gemalto N.V. (Amsterdam, Netherlands), Sophos Group plc (Abingdon, UK), Symantec Corporation (California, US), Skyhigh Networks (California, US), Netskope Inc. (California, US), CipherCloud (California, US), and HyTrust, Inc. (California, US). These players have adopted various strategies, such as new product developments, collaborations, partnerships, and acquisitions to expand their presence in the global cloud encryption market.

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