Market Highlights:
The global enterprise key management market is showing immense growth; mainly due to the decrease in overall costs of ownership of security and maximized operational efficiency. Growing need to prevent loss of high profile data and other compliance issues is another factor responsible for driving the growth of enterprise key management market. Moreover, increase in number of data breaches and loss of confidential data has majorly led to the implementation of advanced security solutions across various industry verticals.
The Encryption key management is administering the full lifecycle of cryptographic keys. The lifecycle includes generating, using, storing, archiving, and deleting of keys. Managed services segment is expected to grow at a higher CAGR as the increasing need of managing high-profile data and segregating it according to the rules and policy of the industries is very much essential in a secure way, which therefore have enhanced the demand for enterprise security. According to the report, 43% of cyber security breaches were caused by internal activities or an organization.
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Industry News
March 2018 – RSA Identity Governance and Lifecycle has introduced advanced analytics capabilities in order to help organizations mitigate risks associated with user access. This will help in reducing overall identity risks for customers and offer workflow enhancements.
March 2018 – Equinix has enhanced its global platform with new cloud security services to manage encryption keys. This will help in simplifying data protection across any cloud or destination. The cloud security service leverages Equinix’s globally interconnected platform of more than 190 International Business Exchange data centers in 48 markets in order to securely host encryption keys separate from the data located across networks and hybrid environments but in close proximity too.
Major key Players
Hewlett Packard Enterprise Company (U.S.),
International Business Machines Corporation (U.S.),
Amazon Web Services, Inc. (U.S.),
Gemalto NV (Netherland),
RSA Security LLC (U.S.),
Thales e-Security, Inc. (France),
Sun Microsystems, Inc. (U.S.),
Virtucript, LLC (U.S.),
Venafi, Inc. (U.S.) and Oracle Corporation (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Enterprise Key Management Market.
The global The Enterprise Key Management Market is expected to grow at USD ~$2,565 Million by 2023, at ~18.3% of CAGR between 2017 and 2023.
Segmentation
The Enterprise Key Management Market can be classified into 6 key segments for the convenience of the report and enhanced understanding;
Segmentation by Component: Software and Service. The service segment is further classified into Professional Services and Managed Services
Segmentation by Deployment: Cloud and On Premise
Segmentation by Organization Size: SMEs and Large Enterprises
Segmentation by Application: Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption and Cloud Encryption
Segmentation by Vertical: BFSI, Healthcare, Manufacturing, Retail, IT & Telecommunication, Energy & Utilities, Aerospace & Defense and Others
Segmentation by Region: North America, Europe, Asia Pacific and Rest of the World.
Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the enterprise key management market in North America owing to the presence of a large number of established key players such as Hewlett Packard Enterprise Company, International Business Machines Corporation, Amazon Web Services, Inc., RSA Security LLC, Sun Microsystems, Inc., Virtucript, LLC, Venafi, Inc. and Oracle Corporation among others. Also, U.S. is leading the market in North America due to the technological advancements and increasing data security challenges and growing need to meet the strict compliance regulations in the region. Enterprise key management market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 owing to growing population and increased deployment of data security and compliance management solutions in China, Japan, and India in the region. Whereas, the Europe market for enterprise key management is expected to grow at a considerable CAGR (2017-2023).
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Intended Audience
- System Security
- Key management vendors
- Encryption software Vendors
- Enterprise Key Management instrument
- Research organizations
- Analysts and strategic business planners
- Technology investors
- Security software Vendors
- System integrators
- Research/Consultancy firms
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