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

  • ID: 4383899
  • Report
  • Region: Global
  • 170 Pages
  • Markets and Markets
1 of 4
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 CAGR of 30.1%.

FEATURED COMPANIES

  • Ciphercloud
  • Hytrust
  • Netskope
  • Secomba
  • Sophos
  • Thales E-Security
  • MORE

"Stringent regulatory compliance and increasing concern for cloud data security are driving the cloud encryption market"

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 market is driven by factors, such as proliferation in the cloud adoption and virtualization, bigger risks on cloud environment due to big data analytics, and stringent regulations and compliances. However, the major hindrance faced by the enterprises while adopting cloud encryption are lack of budget for the adoption of best-in-class cloud encryption solution, and misbelief of performance issue caused by cloud encryption.

"Software-as-a-Service model is expected to have the fastest growth rate during the forecast period"

Software-as-a-Service (SaaS) service model in the cloud encryption market is expected to grow at the fastest rate, during the forecast period. The major reason for the high growth rate of SaaS among service models is the increased usage of the cloud-based applications from the cloud service providers. The SaaS applications might contain malicious activities that may cause significant data loss. Therefore, the cloud encryption solutions and services help in minimizing the loss of data by encrypting it and allowing only authorized a person to access the same with the help of encryption keys.

"BFSI vertical is expected to have the largest market size during the forecast period"

With strict regulations governing the BFSI sector and the pressure on IT teams to address the dynamic needs of the businesses, this sector is exploring possibilities of exploiting cloud computing as a mechanism to deliver faster services to the businesses and at the same time reduce the cost of delivering such services. However, with this evolution arises the need to protect sensitive data that is being acquired and transmitted. This can be achieved using the cloud encryption technology, encrypting confidential data in transit as well as at rest.

"North America is expected to hold the largest market share, whereas Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period"

North America is the foremost potential market due to the presence of a large number of players offering the cloud encryption in this region. This region is expected to hold the largest market size during the forecast period, as organizations are more focused on securing the cloud data at rest as well as in transit. Furthermore, organizations have invested hugely in advanced technologies to gain competitive advantage and improve business operations. The APAC region is in the initial growth phase; however, it is the fastest growing region in the global cloud encryption market. The increasing adoption of cloud encryption solutions in this region is due to the wide-spread presence of SMEs that are implementing enhanced cloud encryption solutions to prevent unauthorized access to critical business data residing on the cloud and unethical use of such information.

The break-up profiles of primary participants are given below:

  • By company: Tier 1-55%, Tier 2-20%, and Tier 3-25%
  • By designation: C-level-60%, Director level-25%, and Others-15%
  • By region: North America-15%, Europe-25%, APAC-30%, Latin America-20%, and MEA-10%

The following key cloud encryption providers are profiled in the report:

1. Thales e-Security (La Defense, France)
2. Gemalto N.V. (Amsterdam, Netherlands)
3. Sophos Group plc (Abingdon, UK)
4. Symantec Corporation (California, US)
5. Skyhigh Networks (California, US)
6. Netskope Inc. (California, US)
7. CipherCloud (California, US)
8. HyTrust, Inc. (California, US)
9. Secomba GmbH (Augsburg, Germany)
10. IBM Corporation (New York, US)
11. Trend Micro Incorporated (Tokyo, Japan)
12. Vaultive, Inc. (Massachusetts, US)
13.. TWD Industries AG (Unteriberg, Switzerland)

Research Coverage

The cloud encryption market has been segmented on the basis of components (solution and service), service models, organization sizes, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, solutions and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the cloud encryption market.

The report will help the market leaders/new entrants in this market in the following ways:

  • This report segments the cloud encryption market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
  • This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes vendor comparison of top market players in the cloud encryption market.
READ MORE
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Ciphercloud
  • Hytrust
  • Netskope
  • Secomba
  • Sophos
  • Thales E-Security
  • MORE

1 Introduction
    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
    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

4 Premium Insights
    4.1 Attractive Growth Opportunities
    4.2 Top Three Service Models and Regions of Market, 2017
    4.3 Lifecycle Analysis, By Region
    4.4 Market Investment Scenario
    4.5 Market, By Vertical

5 Market Overview
    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 Drive Higher Adoption of Cloud Encryption Solutions
           5.2.2 Restraints
                    5.2.2.1 Budgetary Constraints for Adoption of 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 Growing Demand for Integrated, Cloud-Based Encryption Solutions Among SMES
                    5.2.3.2 Increased Demand for Cloud-Based Services From Healthcare Vertical
           5.2.4 Challenges
                    5.2.4.1 Complexities in 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 (PCI-DSS)
           5.5.2 Health Insurance Portability and Accountability Act (HIPAA)
           5.5.3 Federal Information Security Management Act (FISMA)
           5.5.4 Sarbanes-Oxley Act (SOX)
           5.5.5 Gramm-Leach-Bliley Act (GLBA)
           5.5.6 Federal Information Processing Standards (FIPS)
           5.5.7 General Data Protection Regulation (GDPR)
    5.6 Innovation Spotlight
    5.7 Use Cases
           5.7.1 Large-Scale Adoption of Cloud Encryption By Defense Companies
           5.7.2 Major Banks in APAC Adopt Encryption for Commercial-Grade Security
           5.7.3 Major Stock Exchange in APAC Adopts Encryption Practice
           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
    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 Market Analysis, By Service Model
    7.1 Introduction
    7.2 Infrastructure-as-a-Service (IaaS)
    7.3 Software-as-a-Service (SaaS)
    7.4 Platform-as-a-Service (PaaS)

8 Market Analysis, By Organization Size
    8.1 Introduction
    8.2 Large Enterprises
    8.3 Small and Medium-Sized Enterprises (SMES)

9 Cloud Encryption Market Analysis, By Vertical
    9.1 Introduction
    9.2 Banking, Financial Services, and Insurance (BFSI)
    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
     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 (APAC)
             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 (MEA)
             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
     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 Cloud Encryption Market
             11.2.2 Business Strategy Excellence Adopted in Market

12 Company Profiles
(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.

List of 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 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 IaaS Service Model: Market Size, By Region, 2015-2022 (USD Million)
Table 16 SaaS Service Model: Market Size, By Region, 2015-2022 (USD Million)
Table 17 PaaS Service Model: Market Size, By Region, 2015-2022 (USD Million)
Table 18 Market Size, By Organization Size, 2015-2022 (USD Million)
Table 19 Large Enterprises Segment: Market Size, By Region, 2015-2022 (USD Million)
Table 20 SMES Segment: Market Size, By Region, 2015-2022 (USD Million)
Table 21 Cloud Encryption Market Size, By Vertical, 2015-2022 (USD Million)
Table 22 BFSI Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 23 Healthcare Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 24 Telecom and IT Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 25 Government and Public Utilities Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 26 Aerospace and Defense Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 27 Retail Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 28 Others Vertical: 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 APAC: Cloud Encryption Market Size, By Component, 2015-2022 (USD Million)
Table 45 APAC: Market Size, By Service, 2015-2022 (USD Million)
Table 46 APAC: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 47 APAC: Market Size, By Service Model, 2015-2022 (USD Million)
Table 48 APAC: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 49 APAC: Market Size, By Vertical, 2015-2022 (USD Million)
Table 50 APAC: Market Size, By Country, 2015-2022 (USD Million)
Table 51 MEA: Market Size, By Component, 2015-2022 (USD Million)
Table 52 MEA: Market Size, By Service, 2015-2022 (USD Million)
Table 53 MEA: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 54 MEA: Market Size, By Service Model, 2015-2022 (USD Million)
Table 55 MEA: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 56 MEA: Market Size, By Vertical, 2015-2022 (USD Million)
Table 57 MEA: Cloud Encryption 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 of Players in Cloud Encryption Market, 2017

List of 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 Global Market: North America to Hold Largest Share in 2017
Figure 10 Top 3 Revenue Segments of Market
Figure 11 Need for Stringent Compliance to Boost Market Growth
Figure 12 IaaS and North America to Hold Largest Shares
Figure 13 APAC Market Offers Immense Growth Opportunities
Figure 14 APAC to Emerge as Best Market for Investment Over Next Five Years
Figure 15 BFSI Vertical to Hold Largest Share 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 Enterprises’ Plan for Adoption of Encryption
Figure 19 Growing Practice of Data Encryption By Csps
Figure 20 Management of Encryption Keys By Enterprise Workforce
Figure 21 Services Segment to Record Highest Growth During Forecast Period (USD Million)
Figure 22 Managed Services to Record Highest Growth During Forecast Period (USD Million)
Figure 23 Training and Education Services to Record Highest Growth During Forecast Period (USD Million)
Figure 24 SaaS Segment to Record Highest Growth During Forecast Period (USD Million)
Figure 25 SMES Segment to Record Higher Growth During Forecast Period (USD Million)
Figure 26 Telecom and IT Vertical to Record Highest Growth During Forecast Period (USD Million)
Figure 27 North America to Dominate Global Market During Forecast Period (USD Million)
Figure 28 North America: Market Snapshot
Figure 29 APAC: Market Snapshot
Figure 30 Global Market: 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

Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4

FEATURED COMPANIES

  • Ciphercloud
  • Hytrust
  • Netskope
  • Secomba
  • Sophos
  • Thales E-Security
  • MORE

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.

Note: Product cover images may vary from those shown
5 of 4
  • Ciphercloud
  • Gemalto
  • Hytrust
  • IBM
  • Netskope
  • Parablu
  • Secomba
  • Skyhigh Networks
  • Sophos
  • Symantec
  • TWD Industries AG
  • Thales E-Security
  • Trend Micro
  • Vaultive
Note: Product cover images may vary from those shown
6 of 4
Note: Product cover images may vary from those shown
Adroll
adroll