Data Encryption Market Opportunity Assessment and Competitive Landscape | Impact of COVID-19

Market Highlights

In its research report, Market Research Future (MRFR), highlights that the global database encryption market 2020 is poised to grow exponentially over the review period, securing a substantial market valuation and a healthy CAGR over the review period.

Database encryption has grown in importance and demand as privacy and security has become a key concern for many business enterprises. Database encryption is vital in securing the integrity of database information and is widely being adopted. Market Research Future has conducted a detailed survey of the market and calculated various rates of growth as well as analyzed drivers, trends, and restraints of the market. Increasing data breaches in recent times have put a spotlight on database encryption and demand has exploded, driving significant growth for the global database encryption market.

Drivers and Restraints

Database encryption has grown in importance and demand has become a key concern for many business enterprises as privacy and security. Database encryption is vital to securing data base information integrity, and is widely adopted. Increasing a number of breaches of the public database is driving the growth of the global market for encryption of databases. Increased scalability, ease of implementation, and versatility of solutions for database encryption drives the growth of the demand for data base encryption. Growing cloud-based software adoption across different industries has increased the use of encryption solutions for the software.  Increasing the establishment of security companies in the database and the services offered drive market growth. In addition , the growing availability of these services has had a very positive effect on business development. In addition, increased adoption of BYOD, mobility, and cloud services is expected to drive growth in the global market for data base encryption over the forecast period. Growing digitalization and outsourcing of databases has increasingly called for better database security solutions that have accelerated the acceptance of solutions for data base encryption. High cost and difficulty associated with implementing database encryption solutions are, however, limiting the growth of the demand for data base encryption. Lack of awareness of database encryption solutions can be seen as another factor that hampers the growth of the global market for data base encryption. However, as awareness grows gradually, the market is flooded with opportunities, and advancement of IT technology is expected to result in the rendering of highly efficient data base encryption service.

Segmentation:

The global database encryption market share is segmented on the basis of deployment, encryption type, vertical, and, region.

Based on the encryption type, the global database encryption market is segmented into column-level, transparent, file-system and others.

Based on the deployment, the global database encryption market is divided into on-cloud and on-premise.

By vertical, the global database automation market is divided into manufacturing, IT and telecom, BFSI, government, retail, healthcare, aerospace & defense, and others.

Regional Analysis

North America has been identified and established as the leader in the global data encryption market. The strong presence of leading market players in the region such as Intel, Symantec, Win Magic, and Microsoft has put North America at the forefront of the global market. Well-developed countries such as the U.S and Canada have a high adoption rate for cloud-based services and solutions which is expected to affect the growth of the North American market positively.

Meanwhile, the Asia Pacific market is growing rapidly and is likely to register the highest CAGR among all regional markets. The increasing trend of Bring Your Own Devices (BYOD) has played a huge role in increasing the importance of database security solutions. Countries such as China and Japan are witnessing increasing adoption of scalable database encryption services in small and medium enterprises, thus driving the growth of the market.

Competitive Analysis

The major market players operating in the global market as slated by MRFR are PKWARE, Inc. (US), Trend Micro Inc. (Japan), Microsoft Corporation (US), Symantec Corporation (US), Sophos Ltd. (US), Check Point Software Technologies Ltd. (Israel).,IBM Corporation (US), SAS Institute Inc. (US), Intel (US), Win Magic Inc.(Canada) and EMC Corporation (US) .

Browse Complete Report @ https://www.marketresearchfuture.com/reports/database-encryption-market-1801