Increasing focus on protection of important information or data in organizations of different sizes, owing to rising cases of cyber-attacks and security breaches, is the key factor driving the demand for enterprise key management. Enterprise key management refers to professional key management solutions that provide encryption keys across a wide range of databases and operating systems. It is a vital part of data encryption solutions that involves managing and dealing with storage, destruction, exchange, use, and replacement of cryptographic keys that encrypt data from sources like databases, emails, big data repositories, disk drives, etc. Such solutions protect cryptographic keys throughout their lifecycle while restraining unauthorized users from accessing the data or keys.
New Encryption Software to Protect Data in Enterprises
Major applications variants of enterprise key management are database encryption, communication encryption, cloud encryption, file/folder encryption, and disk encryption. In 2016, disk encryption segment accounted for 37.07% of the global share; however, the cloud encryption segment is estimated to witness the maximum growth rate during the forecast period (from 2018 to 2025). The expansion of cloud-based encryption segment is attributed to the increasing adoption of cloud-based storage solutions by organizations to store and secure business data.
Companies in the field are focusing on improving their service and products to maintain their industry position. For instance, Equinix recently unveiled its key management and encryption Software as a Service (SaaS), called Equinix Smartkey, to safeguard data stored in clouds and data centers. The Equinix Smartkey leverages the platform of more than 190 International Business Exchange (IBX) data centers located at 48 different locations while securely hosting encryption keys.
Market Insights
The global enterprise key management market is expected to reach USD 3.61 billion by 2025, according to a report by Grand View Research, Inc. High demand for encryption of crucial information or data in organizations is likely to spur the market growth over the coming years. Heavy investments in cloud-based services and hardware security modules by various organizations to avail data security using encryption keys can also foster market growth. Other factors such as rising adoption of digital environment to offer highly advanced services and the need for the protection of large volumes of sensitive data are also anticipated to boost the market development. Some of the leading companies in the market are Hewlett-Packard Enterprise; Gemalto N.V., EMC Corporation; IBM, and Thales e-security.
Visit at:
https://www.grandviewresearch.com/industry-analysis/enterprise-key-management-market
Visit at:
https://www.grandviewresearch.com/industry-analysis/enterprise-key-management-market
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