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.
Technology is growing at very rapid speed and there is an increase in the adoption of cloud technology for the various purpose. Increasing security proliferation around the world is affecting the data security and organizations are finding new ways to make their data more secure. Database Encryption is a solution which allows the organization to protect their data. Industries such as Healthcare and BFSI which deals with most complex and valuable data’s are adopting database encryption method in order to keep their data more secure.
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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 CheckPoint 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.
The Database Encryption Market can be classified into 4 key segments as follows:
Segmentation by Encryption Type: Transparent, Column-level, and File-system.
Segmentation by Deployment: On-Premise and On-Cloud
Segmentation by Application: IT and Telecom, Manufacturing, BFSI, Retail, Government, Healthcare, and Aerospace &Defense.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
The global Database Encryption (BIM) market is estimated to grow at a promising rate in upcoming years. North America has witnessed to dominate the market due to increasing demand for cloud based data centers and availability of developed infrastructure. Europe is expected to generate second highest revenue for the market due to increasing cyber-attacks in the region which has created huge demand for data security solution. Asia-Pacific is expected to be the fastest growing region due to increasing initiatives by government to promote digitalization and increasing adoption of cloud services by organization for their routine work. However, Rest of the world which includes The Middle East & Africa and Latin countries are expected to grow with steady growth rate in coming years.
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- Software Companies
- Database Software Developers
- Managers, IT Experts
- SMEs & Large Organizations
- Security Service Providers