Database Encryption Market - Global Industry Analysis Forecast 2016 – 2024
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Global Database
Encryption Market: Overview
Database encryption
has emerged as one of the leading end-point data security solutions
at a time when an increasing number of organizations are faced with
the threat of cyberattacks and data theft or loss. Growing concerns
regarding data privacy compliance regulations and data safety have
now gained priority and companies have begun investing heavily in
advanced database encryption solutions. Based on the compliance and
security requirements of an organization, database encryption aims to
protect the confidentiality of all forms of data stored in disks,
files, or folders. Data is rendered unreadable for unauthorized
persons, thereby ensuring that the confidential data is duly
protected.
Full report on
Database Encryption Market is available on :
Database encryption,
on the basis of deployment, can be either on-premise or cloud-based.
Small and medium businesses and large enterprises are the main
end-users of database encryption solutions, which are used for a
number of applications including file/folder encryption,
communication encryption, disk encryption, database encryption, and
cloud encryption. Database encryption solutions are used in several
industry verticals such as healthcare, telecommunications, aerospace
and defense, banking, financial services, and insurance, government
and public sector, and retail.
The key regions
covered under the global database encryption market are North
America, Asia Pacific, Europe, and Rest of the World. The report
offers a detailed assessment of all the regional database encryption
markets, in addition to an in-depth study of the key factors driving
and restraining the market. With the help of the Porter’s Five
Forces Analysis model, the report sheds light on the impact of
buyers, suppliers, new entrants, substitutes, and competitors on the
global database encryption market.
Global Database
Encryption Market: Key Trends and Opportunities
There are a number
of factors boosting the demand for database encryption. Rising
concerns about data loss and theft and increases in the number of
losses and thefts of mobile devices such as smartphones, USBs, and
tablets have greatly driven the database encryption market. In
addition, the growing use of cloud services and mobile devices for
various businesses has escalated the adoption of database encryption.
The rise in the incidence and intensity of commercial espionage
attacks on cloud platforms and mobile devices has further encouraged
companies to adopt database encryption solutions to safeguard all
forms of data. There has been a constant advancement in data security
technologies such as end-to-end encryption and upgrade, which also
supports the global database encryption market. Apart from this,
encryption vendors, cloud service providers, and third-party service
providers have been offering enhanced and augmented encryption
software solutions to protect against commercial cyberattacks and to
cater to the various security needs of governments.
In contrast, the
rising demand for competent IT resources for data management in
organizations and the additional overhead costs pose a major
challenges for the growth of the global database encryption market.
Global Database
Encryption Market: Region-wise Outlook
North America is the
largest market for database encryption, followed by Europe. By the
end of the forecast period, it is anticipated that North America will
retain its lead, driven mainly by the fact that the adoption of a new
or emerging technology is at a much higher rate than in any other
region. In addition to this, the adoption of BYOD, mobility, and
cloud is the highest in North America, resulting in the generation of
vast amounts of confidential data. This, in turn, leads to increased
demand for data protection and database encryption solutions. Other
factors driving the North America database encryption market are
stringent data privacy compliance regulations, and a rise in the
number of high-profile data breaches.
Asia Pacific is
anticipated to emerge as the most rapidly expanding regional market
for database encryption.
Some of the most
prominent players competing in the global database encryption market
are Trend Micro, Inc., Intel Corporation (McAfee), SAS Institute,
Inc., Check Point Software Technologies, Symantec Corporation,
Microsoft Corporation, Sophos Ltd., EMC Corporation, IBM Corporation,
Bloombase, Inc., and Winmagic, Inc.
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