Database Encryption Industry Future Plans and Industry Growth with High CAGR by Forecast 2023

Market Highlights

The escalated requirement for encryption techniques that can convert plain text data is bolstering the database encryption market. Reports that review the semiconductor and electronics industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is expected to perceive an astounding CAGR development in the forecast period.

The necessity to thwart damaging public data breaches is fuelling the development of the database encryption market. The ability to ensure seamless scalability is another crucial factor motivating the market for database encryption. Also, the enhanced availability of mobility and cloud services is projected to create promising prospects for expansion in the upcoming period.

Government and privacy regulations have come into effect which either endorse or mandate database encryption to reduce theft of valuable data. Increasing establishment of database security companies and the offered services are driving the growth of the market. Encryption service offerings also offer easy manageability and improved performances which have led to increased demand for database encryption services. Moreover, the increasing affordability of such services has also had a highly positive impact on market growth. The advent of the cloud and its widespread adoption has improved scalability, made deployment easy and accessible, and highly flexible which encourage database encryption adoption. Additionally, databases are increasingly being stored on the cloud which makes them more vulnerable to security threats, thus driving the need for encryption.

Segmentation:

The evaluation of the database encryption industry is carried out on the basis of deployment, encryption type, vertical, and region. On the basis of encryption type, the database encryption market is segmented into column-level, transparent, file-system, and others. The deployment basis of segmenting the database encryption market comprises of on-premise and on-cloud. On the basis of vertical, the database automation market is segmented into manufacturing, IT and telecom, BFSI, aerospace & defense, retail, healthcare, government, and others. Based on the region, the database automation market is segmented into Europe, North America, Asia-Pacific, and the rest of the world.

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 Dashboard:

The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market. The influence of governmental policies is motivating further development in the market. The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market.  

Microsoft Corporation (US), Trend Micro Inc. (Japan), Symantec Corporation (US), Sophos Ltd. (US), SAS Institute Inc. (US), IBM Corporation (US), PKWARE, Inc. (US), Intel (US), Check Point Software Technologies Ltd. (Israel)., Win Magic Inc.(Canada) and EMC Corporation (US) are a few of the prominent players summarized in the global database encryption market.

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