Global Database Encryption Market: Overview
Database encryption is a process that converts the data using specific algorithm into cipher text which cannot be comprehended until decrypted. The database encryption process is used in a number of sectors such as medical, defense, business, and others for securing personal and business-related data.
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Global Database Encryption Market: Growth Factors
Due to rising advancement in the technology the usage of mobility, ‘Bring Your Own Devices’ concept, and cloud-based service technology has also boosted around the globe. The cloud technology helps store as well as share large amounts of data. Thus, the use of cloud-based services has resulted in the increase in the database theft and intrusion which in turn influenced the use of database encryption application or products and fueled the database encryption market. The major factors that propel the growth of the global database encryption market are low cost, ease in operating, increasing demand, and lastly the flexibility. The increasing communication among various organizations in the different regions results in the transfer of huge amounts of confidential, personal, and business data that demands for more of the data encryption applications which further escalates the global market growth.
Global Database Encryption Market: Segmentation
The global database encryption market is bifurcated on the basis of deployment type, operational models, end user, vertical, and encryption type. The deployment type segment is divided into on-premises and cloud type. The operational model’s segment is classified into data-at-rest and data-at-motion models. The end user segment is further bifurcated into enterprises and SMBs. The vertical segment is categorized into retail and e-commerce; healthcare; IT and telecom; banking, financial services, and insurance; aerospace and defense, government and public sectors, and others. The encryption type segment is further grouped into key management, file-system encryption, column-level encryption, transparent encryption, and application-level encryption. The banking, financial services, and insurance (BFSI) segment propels the global market growth.
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Global Database Encryption Market: Regional Analysis
North America is expected to lead the global database encryption market followed by Europe. The rising cyber attacks fuel the market in the North American region. Asia-Pacific is expected to be the highest growing database encryption market in terms of demand and revenue. The rising ‘Bring Your Own devices’ policy among the various organizations and increasing communication among the organization escalated the demand for the storage of business data in a secured database and attributed the market growth in the Asia-Pacific region. The increasing adoption of the database encryption market in the small-, medium- and large-scale businesses in developing regions such as India, Japan, and China is majorly for securing their business and confidential personal data.
Global Database Encryption Market: Competitive Players
The major players that dominate the global database encryption market include Cisco Systems, IBM Corporation, Symantec Corporation, HP, Vormetric, McAfee, Oracle, Microsoft Corporation, and Sophos Ltd. The other players in the global market are Check Point Software Technologies Ltd., SAS Institute Inc., Trend Micro Inc., Win Magic Inc., PKWARE Inc., Intel, and EMC Corporation. These competitive players have implemented various strategies such as collaboration, agreement, partnership, and new application launch for acquiring a standard position in the global market.
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