The global cloud encryption market is forecast to reach USD 4.61 Billion by 2026, according to a new report by Reports and Data. Cloud Encryption is provided by the cloud service vendors. This encryption allows for secure data computation and also ensures the protection of data from hacking as well as preventing scenarios of data theft. The encryption method safeguards the data by muddling the content of a system or a database. Thus, the files or data is inaccessible with the decryption key. The increasing cloud traffic, as well as the high demand for protecting sensitive information from data breaches and unauthorized access from third-party initiatives are driving the growth of the cloud encryption market.
The market for cloud encryption is influenced by the rising demand from data hogging multi-national companies which dwell mostly on cloud computing. Encryption ensures the protection of these sentient data for the safeguarding of company privacy.
Apart from the drivers for the market, there lies restraints, too, which influences the market vastly. Confining factors include the lack of awareness among the populace about cloud security and data protection. The lack of budget for obtaining cloud encryption solutions is another major restraint for the market. With high commercialization, the wide-spread implementation of cloud encryption is forecasted.
The population of Asia Pacific is shifting towards the youth, and the purchasing potential of this young populace is also increasing. Countries are looking at India and China as the global market leaders in cloud security and encryption. These countries consist of over 35% population across the globe, and application of security services in this region shall grow at a very high rate owing to the growth in IT industries as well as telecommunication service providers.
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Top 10 Profiled in the Cloud Encryption MarketReport:
- Sophos Group Plc
- Thales e-Security
- Skyhigh Networks
- Symantec Corporation
- Trend Micro Incorporated
Component Type Outlook Revenue, USD Billion; 2016-2026)
Service Type Outlook (Revenue, USD Billion; 2016-2026)
Deployment Outlook (Revenue, USD Billion; 2016-2026)
End-Users Outlook (Revenue, USD Billion; 2016-2026)
- Retail and Consumer goods
- IT and Telecom
- Media and Entertainment
- Travel and Hospitality
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Key Takeaways of the Cloud Encryption Market Report:
- A comprehensive overview of the global Cloud Encryption
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the Cloud Encryption Market.
- Elaborate study of the leading regional markets in the Cloud Encryption Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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