The increasing threat to data security from hackers, and consumer concern for privacy has led wide adoption of encryption services by individual and organization. In order to safe data from hackers, companies are taking precautions and adopting critical encryption algorithms from experts such as PKWARE, IBM Corporation, EMC Corporation, and Microsoft. With passage of time, the database encryption technique is also improved and at present available in various forms. Media based encryption, transparent data encryption and application layer encryption are some of the emerging database encryption techniques.
The major growth driver of Database Encryption Market includes increasing cyber-attacks, high demand for cloud based datacenter, and increasing trend for BYOD especially among corporates. However, high cost of encryption solutions and lack of infrastructure are the major factors which are hindering the growth of Database Encryption Market
However, a number of recent public data breaches that could have been avoided through database encryption have changed the general perspective regarding the importance of encrypting a database. Added to that, government and privacy regulations such as the PCI Data Security Standard, have either endorsed or mandated encryption as a security measure to reduce the instances of data theft. Database security companies have started providing improved performance and manageability of their encryption offerings. In recent years the management and implementation burdens for database encryption along with its cost has reduced significantly.
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Major key Players
- PKWARE, Inc. (U.S.),
- Microsoft Corporation (U.S.),
- Trend Micro Inc. (Japan),
- Sophos Ltd. (U.S.),
- Symantec Corporation (U.S.),
- CheckPoint Software Technologies Ltd. (Israel).,
- IBM Corporation (U.S.),
- Intel (U.S.),
- SAS Institute Inc. (U.S.),
- Win Magic Inc. (Canada)
- EMC Corporation (U.S.)
According to MRFR, On the global scale, the Database Encryption Market has been valued at US ~$335 million in the year 2015 which is growing at rapid CAGR of ~26% and expected to reach at US ~$1.6 billion by the end of forecast period.
Database Encryption market appears to be competitive in the coming years owning to the presence of numerous large players active in regional market. Microsoft Corporation, Trend Micro Inc., Sophos Ltd., Symantec Corporation, and Check Point Software Technologies Ltd. are some of the companies leading the Database Encryption market globally. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Various key segments of the market have been analyzed in depth in MRFR’s report. Division of the various vital market components has been performed on the basis of encryption type, deployment, vertical, and region. Encryption types implemented included column level, file system, transparent, and others.
Deployment of data encryption services can be done on-cloud and on-premise.
Verticals, where database encryption is used, include manufacturing, It & telecom, BFSI, government, retail, aerospace & defense, healthcare, and others,
The global market is divided into key geographical regional markets which include Europe, Asia Pacific, North America, and the Rest of the World.
North America has been identified and established as the leader in the global data encryption market. The strong presence of leading market players in the region such as Intel, Symantec, Win Magic, and Microsoft has put North America at the forefront of the global market. Well-developed countries such as the U.S and Canada have a high adoption rate for cloud-based services and solutions which is expected to affect the growth of the North American market positively.
Meanwhile, the Asia Pacific market is growing rapidly and is likely to register the highest CAGR among all regional markets. The increasing trend of Bring Your Own Devices (BYOD) has played a huge role in increasing the importance of database security solutions. Countries such as China and Japan are witnessing increasing adoption of scalable database encryption services in small and medium enterprises, thus driving the growth of the market.
- Software Companies
- Database Software Developers
- Managers, IT Experts
- SMEs & Large Organizations
- Security Service Providers
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LIST OF TABLES
Table 1 Global Database Encryption market, By Encryption Type
Table 2 Global Database Encryption market, By Deployment
Table 3 Global Database Encryption market, By Vertical
Table 4 Global Database Encryption market, By Regions
Table 5 Europe: Global Database Encryption Market, By Country
Table 6 Europe: Global Database Encryption Market, By Encryption type
Table 7 Europe: Global Database Encryption Market, By Deployment
LIST OF FIGURES
FIGURE 1 Global Database Encryption segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Database Encryption Market
FIGURE 4 Value Chain of Global Database Encryption Market
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