Global Enterprise Key Management Market Research Report- Forecast 2023
Market Highlights
The
global enterprise key management market is set to reach the value of USD 2,565
million by 2023. It is expanding at a luxurious CAGR of 18.3% during the
forecast period (2017-2023), asserts Market Research Future (MRFR). Enterprise
key management is a vital component of data encryption solutions that involves
managing and dealing with generation, exchange, storage, use, destruction, and
replacement of cryptographic keys that encrypt different data sources such as
emails, databases, disk drives, big data repositories, backup tapes, and data
over cloud environments. It protects cryptographic keys throughout their
lifecycle and also restrains unauthorized users from accessing the keys or
data.
The
market growth is backed by a couple of factors such as increasing number of
data breaches and loss of confidential data, stringent regulations and
compliance standards to safeguard sensitive data from malicious users. These
factors have resulted in implementation of advanced enterprise security
solutions across various industries.
Drivers
and Restraints
Growing
data breaches result in increasing demand for enterprise key management. The
market growth is supported by a couple of influential factors, such as a
growing number of data breaches and loss of private data, strict regulations,
and acquiescence standards to safeguard sensitive data from malevolent users.
These factors have resulted in the deployment of advanced enterprise security
solutions across various end-use industries. the shift of organizations toward
a digitized environment to offer digital services and the need to protect large
volumes of complex data produced on a daily basis are deemed to drive the
growth of the enterprise key management market in the foreseeable
future. The complexity of enterprise key management could curb market growth
over the assessment period. Enterprise key management is a highly complicated
process; therefore, the time consuming and complicated nature of the system may
surge the market growth in the coming years. On the other hand, with the
adoption of cloud-based computing coupled with a surge in encryption of data,
the need for the enterprise key management solution has expanded significantly
over the forecast period.
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Competitive
Analysis
The
major market players in the global Enterprise Key Management Market are
International Business Machines Corporation (US), Hewlett Packard Enterprise
Company (US), Amazon Web Services, Inc. (the US), Gemalto NV (Netherland),
Thales e-Security, Inc. (France), RSA Security LLC (US), Sun Microsystems, Inc.
(the US), Virtucript, LLC (US), Oracle Corporation (US), and Venafi, Inc. (US),
among others.
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Global
Enterprise Key Management Market, By Services Types (Managed services and
Professional Services), Deployment Type (Cloud, On-Premises), Organization Size
(Small and Medium-Sized Enterprises and Large Enterprises), By Application, by
End Users (Commercial, Consumer, Government, Healthcare), By Region - Forecast
2023
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