Market Highlights
North America accounts for highest market share in cloud encryption market due to the timely adoption of cloud based encryption solutions. The early adoption of BYOD is helping the North American market generate highest revenue. The growing IT management complexity combined with the capability to deploy new applications faster are the primary drivers for cloud encryption solutions in this region. Countries such as US, Canada and Mexico is generating highest revenue in cloud encryption market. The adoption of advanced data storage technology and data storage architecture by both small and medium enterprises is boosting the market in the region, especially one into IT & telecommunication, BFSI, social media platforms and media and entertainment. And increased research and development spending by vendors in the region is driving the data compression market.
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.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Cloud Encryption Market Research Report -Forecast to 2023”.
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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.
The prominent players in the cloud encryption market are- Thales e-Security (France), Gemalto N.V. (Netherlands), Sophos Group Plc (U.K.), Symantec Corporation (U.S.), Skyhigh Networks (U.S.), Netskope Inc. (U.S.), CipherCloud (U.S.), HyTrust, Inc. (U.S.), Trend Micro Incorporated (Japan), Vaultive, Inc. (U.S.) among others.
Market Research Analysis:
Regional analysis for cloud encryption market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of World. North America region is mainly dominating the market due to adoption of advanced marketing techniques in enhancing business and increase adoption of analytics by organization in cloud marketing platform. North America region is one of the prominent player in the market due to advanced technological implementation in numerous vertical. European region is also gaining growth owing to growing demand from citizens and huge investment by enterprise in cloud encryption market. Asia-Pacific region is the fastest growing player in the cloud encryption market owing to advanced technological development and increasing data theft is boosting the market growth. Increasing urbanization, business expansion, industrial developments and growing educational sector is driving the growth of cloud encryption market in the region. Growing economies such as India, Japan, and China accounted for the largest market share due to growing IT network in this region. The region consists of many small and medium size enterprise that is contributing towards the growth of cloud encryption market from the region.
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Cloud Encryption Market, By Components (Solution, Service), By Service (Professional Service), By Service Model (Infrastructure-as-a-Service, Software-as-a-Service, Software-as-a-Service), By Cloud Deployment (Public, Private, Hybrid) – Forecast 2027
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