Enterprise Key Management Market Growth & Trends
The global enterprise key management market was valued at USD 9.82 billion in 2030 and is projected to grow at a CAGR of 19.8% from 2024 to 2030. Increasing number of data breaches and loss of confidential data, coupled with increasingly stringent regulations and compliance standards to safeguard sensitive data from malicious users, have led to the implementation of advanced enterprise security solutions across different industries. The shift of organizations toward a digital environment for offering digital services and the need to protect increasing volumes of sensitive data are expected to drive the market.
Enterprise key management is an essential component of data encryption solutions and 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. The key management solutions protect cryptographic keys throughout their lifecycle and restrain unauthorized users from accessing the keys or data.
Organizations are increasingly deploying encryption solutions to protect confidential data, thus, enabling the growth of the enterprise key management market. However, issues related to a lack of skilled key management workforce and standardized key management systems are expected to challenge the industry. Furthermore, the high cost and complex deployment of key management solutions are expected to hinder the market growth.
Enterprise Key Management Market Report Highlights
- North America is expected to be the largest market during the forecast period, owing to technological proliferation and accelerated adoption of digital services
- Asia Pacific emerged as the fastest-growing market with a CAGR of 22.0% over the forecast period.
- Disk encryption segment accounted for 37.07% of the overall market share in 2016, however, cloud encryption segment will have the highest growth rate
- The BFSI segment accounted for 31.9% in 2016. Increased online and mobile transactions, along with data security regulatory mandates will drive the market growth
- Increasing investments in cloud-based encryption solutions and the need to protect increasing data volume will drive the growth of the enterprise key management market
- The key participants include EMC Corporation, Gemalto N.V., Hewlett-Packard Enterprise, IBM, Thales e-security, Microsoft Azure, Inc., and CA Technologies
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Enterprise Key Management Market Variables, Trends, & Scope
Chapter 4. Enterprise Key Management Market: Component Estimates & Trend Analysis
Chapter 5. Enterprise Key Management Market: Deployment Estimates & Trend Analysis
Chapter 6. Enterprise Key Management Market: Application Estimates & Trend Analysis
Chapter 7. Enterprise Key Management Market: Enterprise Size Estimates & Trend Analysis
Chapter 8. Enterprise Key Management Market: End Use Estimates & Trend Analysis
Chapter 9. Enterprise Key Management Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
Companies Mentioned
- Venafi, Inc.
- Thales
- IBM
- Amazon Web Services, Inc.
- Oracle
- Hewlett Packard Enterprise Development LP
- Quantum Corporation
- WinMagic
- Microsoft
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.84 Billion |
| Forecasted Market Value ( USD | $ 9.82 Billion |
| Compound Annual Growth Rate | 19.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
