Dublin, Feb. 15, 2021 (GLOBE NEWSWIRE) -- The "Global Cloud Encryption Market By Component (Solutions and Services), By Service Model (Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS)), By Organization Size, By End Use, By Company, By Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Cloud Encryption Market is expected to grow at a CAGR of close to 30% during the forecast period.
High cloud adoption and virtualization is one of the key factors due to which the market is anticipated to rev up during the forecast years. Moreover, increased instances of data breaches is contributing to high demand for cloud encryption which is positively impacting the growth of the market during the forecast period. Furthermore, existence of norms and regulations for the increased adoption of cloud encryption solutions is expected to bolster the growth of the market over the next few years.
The Global Cloud Encryption Market is segmented based on component, service model, organization size, end-use, company, and region. Based on service model, the market can be categorized into infrastructure-as-a-service (IaaS), software-as-a-service (SaaS), platform-as-a-service (PaaS).
Out of which, the software-as-a-service segment is expected to grow at the highest CAGR during the forecast period which can be attributed to growing requirement to protect cloud applications from cyber-attacks. In addition to this, increase in the use of cloud-based applications among numerous industry verticals is further contributing to the growing trend for SaaS.
In terms of end-use, the market is fragmented into It & telecommunication, BFSI, health care, entertainment & media, retail, education others. Among them, IT & telecommunication segment is estimated to dominate the market in the next five years which is accredited to the use of cloud encryption technology in providing real-time access in case of emergency and to improve the proficiency of clinical and IT staff.
The key market players are adopting some several competitive strategies such as mergers & acquisitions, collaborations, partnership, agreements in order to expand their geographic reach and to increase their customer basis.
The major players operating in the cloud encryption market are Ciphercloud, Gemalto, Hytrust, IBM, Netskope, Secomba, Skyhigh Networks, Sophos, Symantec, Thales E-Security and others. The key market players are adopting some several competitive strategies such as mergers & acquisitions, collaborations, partnership, agreements in order to expand their geographic reach and to increase their customer basis.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
In this report, the Global Cloud Encryption Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Cloud Encryption Market, By Component:
Global Cloud Encryption Market, By Service Model:
Global Cloud Encryption Market, By Organization Size:
Global Cloud Encryption Market, By End-Use:
IT & Telecommunication
Entertainment & Media
Global Cloud Encryption Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/x6twht
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