Global Enterprise Key Management Market Is Anticipated To Reach Around USD 3,485 Million by 2024

Zion Market Research has published a new report titled “Enterprise Key Management Market by Deployment (Cloud and On-Premises), by Component (Solutions and Services (Professional and Managed)), by Application (Cloud Encryption, Communication Encryption, File/Folder Encryption, Disk Encryption, and Database Encryption), and by End-User (Information Technology (IT) and Telecom, Banking, Financial Services, and Insurance (BFSI), Healthcare, Manufacturing, Government, Retail, Energy and Utilities, Aerospace and Defense, and Others): Global industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024’’. According to the report, the global enterprise key management market was valued at around USD 928 million in 2017 and is expected to reach approximately USD 3,485 million by 2024, growing at a CAGR of slightly above 20.80% between 2018 and 2024.

The growing number of cyber security threats, such as data breaches and malware, has forced enterprises to adopt numerous encryption technologies. An enterprise key management basically creates, circulates, stores, and deletes encrypted data keys. It also integrates a centralized management tool for securing encrypted data keys of an organization.

Browse the full "Enterprise Key Management Market by Deployment (Cloud and On-Premises), by Component (Solutions and Services (Professional and Managed)), by Application (Cloud Encryption, Communication Encryption, File/Folder Encryption, Disk Encryption, and Database Encryption), and by End-User (Information Technology (IT) and Telecom, Banking, Financial Services, and Insurance (BFSI), Healthcare, Manufacturing, Government, Retail, Energy and Utilities, Aerospace and Defense, and Others): Global industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024" Report at https://www.zionmarketresearch.com/report/enterprise-key-management-market

Currently, the rate of cybercrimes, such as malware and data breaches, is on the rise globally. In 2016, more than 6.83 million malware specimens were encountered. Gemalto reported that nearly 900 data breaches happened in the second quarter of 2017. More than 1.9 billion data breach records were registered by June 2017. Encrypting sensitive data is the primary concern of every organization for which they are substantially opting enterprise key management solutions. Many organizations are unaware of enterprise key management solutions and still rely on basic encryption key management solutions. The flourishing IoT industry has elevated the use of cloud-based data storage. The huge demand for encrypting massive cloud-based data is anticipated to create enormous opportunities in the forecast period for the enterprise key management market globally. As per reports, the IoT market accounted nearly USD 157 billion in 2016 and is anticipated to generate USD 457 billion by 2020.

The enterprise key management market is divided based on deployment, component, application, and end-user. The deployment segment includes cloud and on-premises. The on-premises segment holds significant market share, as it is highly preferred by large-scale enterprises due to its flexibility and security for accessing encrypted data keys. The component segment is bifurcated into solutions and services. The recurrent need to ensure correct implementation and incorporation of enterprise key management solutions is anticipated to fuel the services segment in the upcoming years. By application, this market includes cloud encryption, communication encryption, file/folder encryption, disk encryption, and database encryption. Cloud encryption is anticipated to grow significantly over the forecast time period, due to the emerging cloud-based data storage solutions. The end-user segment includes information technology (IT) and telecom, banking, financial services, and insurance (BFSI), healthcare, manufacturing, government, retail, energy and utilities, aerospace and defense, and others (transportation, education, and tourism). BFSI is expected to hold the largest market share, due to its prominent use in securing e-commerce and online transactions and for other digitized financial purposes.

By region, the enterprise key management market includes North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The presence of globally renowned market vendors is likely to make North America dominate the enterprise key management market globally over the estimated timeline.

Some globally renowned players of the enterprise key management market are Gemalto NV, Amazon Web Services, Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise, Venafi, RSA Security LLC, and Thales e-Security, Inc., among others.

The report segments the global enterprise key management market into:

Enterprise Key Management Market: Deployment Analysis

• Cloud
• On-Premises

Enterprise Key Management Market: Component Analysis

• Solutions
• Services
  • Professional Services
  • Managed Services

Enterprise Key Management Market: Application Analysis

• Cloud Encryption
• Communication Encryption
• File/Folder Encryption
• Disk Encryption
• Database Encryption

Enterprise Key Management Market: End-User Analysis

• Information Technology (IT) and Telecom
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Manufacturing
• Government
• Retail
• Energy and Utilities
• Aerospace and Defense
• Others

Enterprise Key Management Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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