Dublin, Oct. 02, 2020 (GLOBE NEWSWIRE) -- The "Key Management as a Service Market Research Report: By Component, Enterprise, Application, Industry - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global key management as a service market is projected to grow at a CAGR of 25.9% between 2020 and 2030 (forecast period), after having generated $511.9 million, in revenue, in 2019.
In order to ensure compliance, companies in numerous industries, especially healthcare and banking, financial services, and Insurance (BFSI), are already adopting KMaaS solutions.
Solutions to Dominate Market during Forecast Period
Till 2030, higher revenue to the key management as a service market would be contributed by the solution bifurcation, as a result of the rising demand for encrypting the data, transition to multi-cloud environments, and increasing requirement for complying with regulations.
Large enterprises are expected to dominate the key management as a service market throughout the forecast period. This is attributed to their complex network systems, strong focus on digital transformation, rapid adoption of cloud computing, and high compliance requirements, all of which together lead to a high integration of key management solutions in such organizations.
During 2020-2030, the fastest key management as a service market growth, at a CAGR of 31.8%, would be witnessed by the cloud encryption classification. This is credited to the rapid transition of companies to the cloud computing platform, which makes the storage, management, and sharing of complex data less cumbersome and cost-effective.
In 2019, the BFSI sector held the largest share in the key management as a service market, as a result of the increasing number of cyber attacks on financial corporations, which create a high need for data security, growing preference for availing of digital banking services, surging demand to safeguard communication channels, and need to comply with Federal Information Processing Standard (FIPS) and PCI DSS regulations.
North America was the most productive region in the market during the historical period (2014-2019), as companies here are deploying advanced technologies to combat cybercriminals. Additionally, the adoption of cloud computing, analytical tools, and data center services is surging, organizations are transitioning to a multi-cloud environment, and the focus on digitization is rising in the region.
In the years to come, Asia-Pacific (APAC) would witness the fastest key management as a service market growth, due to the increasing digitization initiatives, booming demand for cloud solutions, rising awareness about the need to counter cybercrime, and bettering lifecycle process of key management.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Voice of Industry Experts/KOLs
4.2 Definition of Market Segments
4.2.1 By Component
4.2.2 By Enterprise
188.8.131.52 Large enterprises
4.2.3 By Application
184.108.40.206 Disk encryption
220.127.116.11 Cloud encryption
18.104.22.168 File/folder encryption
22.214.171.124 Database encryption
126.96.36.199.1 Database-level encryption
188.8.131.52.2 Application-level encryption
184.108.40.206 Communication encryption
220.127.116.11.1 Voice encryption
18.104.22.168.2 Email encryption
22.214.171.124.3 Instant messaging encryption
4.2.4 By Industry
126.96.36.199 Retail and e-commerce
188.8.131.52 IT and telecom
184.108.40.206 Aerospace and defense
4.3 Value Chain Analysis
4.4 Market Dynamics
220.127.116.11 Increasing preference for cloud encryption
18.104.22.168 Increasing number of data breaches
22.214.171.124 Rising need for meeting regulatory compliance standards
126.96.36.199 Impact analysis of drivers on market forecast
188.8.131.52 Complex cryptographic operations in a key management system
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Growing requirement for next-generation key management solutions
18.104.22.168 Surging interaction through enterprise messaging applications
4.5 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.1.1 Service, by Type
5.2 By Enterprise
5.3 By Application
5.3.1 Database Encryption, by Type
5.3.2 Communication Encryption, by Type
5.4 By Industry
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. MEA Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. Major Countries
11.1 U.S. Market Revenue, By Application
11.2 U.K. Market Revenue, By Application
11.3 Germany Market Revenue, By Application
11.4 China Market Revenue, By Application
11.5 Japan Market Revenue, By Application
11.6 India Market Revenue, By Application
Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.3 Strategic Developments in the Market
12.3.1 Mergers and Acquisitions
12.3.2 Product Launches
12.3.4 Client Wins
12.3.5 Other Developments
Chapter 13. Company Profiles
Unbound Tech Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tsdyys
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900