Report cover image

Global Encryption as a Service Market Size Study, by Service Type (Application-Level Encryption, Data Encryption, Network Encryption, Cloud Encryption), by Organization Size (SMEs, Large Enterprises), by Vertical (BFSI, Healthcare, Government, IT & Teleco

Publisher Factview Research
Published Oct 03, 2025
Length 285 Pages
SKU # FAVR20464122

Description

The global Encryption as a Service (EaaS) market was valued at approximately USD 1.57 billion in 2024 and is projected to expand at a CAGR of 26.1% from 2024 to 2034. The rising concerns over data security, regulatory compliance, and increasing cyber threats are major drivers for market growth.

With the rapid digital transformation and the increasing use of cloud-based solutions, the risk of data breaches, ransomware attacks, and unauthorized access has significantly increased. Organizations across various industries are prioritizing encryption services to protect sensitive data, ensure regulatory compliance, and enhance cybersecurity frameworks. Regulations such as GDPR, HIPAA, and PCI DSS have made encryption a mandatory security measure for businesses dealing with sensitive information.

The BFSI sector holds the largest market share, driven by the need to secure customer transactions, prevent financial fraud, and comply with strict banking regulations. As financial institutions increasingly transition to cloud-based services, the demand for advanced encryption technologies continues to rise. The integration of Artificial Intelligence (AI) and Machine Learning (ML) in encryption technologies further enhances security by proactively identifying and mitigating cyber threats.

From a regional perspective, Asia Pacific is expected to grow at the highest CAGR during the forecast period. China, India, and Japan are witnessing substantial investments in cybersecurity infrastructure, with governments and enterprises adopting robust encryption frameworks. The rise in cloud adoption, IoT deployments, and data protection regulations is further driving the demand for encryption as a service solutions in the region.

Major Market Players Included in This Report:
  • AWS (US)
  • Cisco (US)
  • HashiCorp (US)
  • Google (US)
  • Box (US)
  • IBM (US)
  • Microsoft (US)
  • Utimaco (Germany)
  • CLAI PAYMENTS (US)
  • Retarus (Germany)
  • Intermedia (US)
  • Thales (France)
  • Network Fish (UK)
  • StorMagic (UK)
  • Bluefin (Georgia)
  • Cogito Group (Australia)
  • Kloch (US)
  • Virtru (US)
  • Tencent Cloud (China)
  • GarbleCloud (US)
  • Proton (Switzerland)
  • Fortanix (US)
  • Akeyless (US)
  • NordLocker (Netherlands)
  • Piiano (Israel)
  • Delinea (US)
The Detailed Segments and Sub-Segments of the Market are Explained Below:

By Service Type:
  • Application-Level Encryption
  • Data Encryption
  • Network Encryption
  • Cloud Encryption
By Organization Size:
  • Small & Medium Enterprises (SMEs)
  • Large Enterprises
By Vertical:
  • BFSI
  • Healthcare
  • Government & Defense
  • IT & Telecom
  • Retail & E-Commerce
By Region:

North America
  • U.S.
  • Canada
Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of Middle East & Africa
Years Considered for the Study Are as Follows:
  • Historical Year – 2022
  • Base Year – 2024
  • Forecast Period – 2024 to 2034
Key Takeaways:
  • Market Estimates & Forecast for 10 years (2022-2034).
  • Annualized revenue projections and regional analysis for each market segment.
  • Comprehensive geographical landscape analysis with country-level insights.
  • Competitive landscape review, including leading market players.
  • Strategic recommendations for future market approaches.
  • Detailed analysis of market structure and competitive dynamics.
  • In-depth demand-side and supply-side market assessments.

Table of Contents

285 Pages
Chapter 1. Global Encryption as a Service Market Executive Summary
1.1. Global Encryption as a Service Market Size & Forecast (2024-2034)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Service Type
1.3.2. By Organization Size
1.3.3. By Vertical
1.4. Key Market Trends
1.5. Recession Impact
1.6. Industry Metrics
1.7. Investment Analysis
1.8 .Investment Rationale
1.9. Analyst Recommendation & Conclusion
Chapter 2. Global Encryption as a Service Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Encryption as a Service Market Dynamics
3.1. Market Drivers
3.1.1. Increasing Cyber Threats & Data Breaches
3.1.2. Stringent Regulatory Compliance & Data Privacy Laws
3.1.3. Adoption of Cloud-Based Solutions & Digital Transformation
3.2. Market Challenges
3.2.1. High Implementation Costs of Advanced Encryption Technologies
3.2.2. Complex Integration with Existing IT Infrastructure
3.3. Market Opportunities
3.3.1. Increasing Demand for AI & ML-based Encryption Solutions
3.3.2. Growing Adoption of IoT and BYOD Policies
Chapter 4. Global Encryption as a Service Market Industry Analysis
4.1. Porter’s Five Forces Analysis
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
4.2.1. Political Factors
4.2.2. Economic Factors
4.2.3. Social Factors
4.2.4. Technological Factors
4.2.5. Environmental Factors
4.2.6. Legal Factors
4.3. Investment & Funding Landscape
4.4. Top Investment Opportunities
4.5. Competitive Landscape & Key Market Strategies
4.6. Regulatory & Policy Framework
4.7. Industry Expert Perspective
4.8. Analyst Recommendation & Conclusion
Chapter 5. Global Encryption as a Service Market Size & Forecasts by Service Type (2024-2034)
5.1. Segment Dashboard
5.2. Market Revenue Trend Analysis (2022 & 2032)
5.2.1. Application-Level Encryption
5.2.2. Data Encryption
5.2.3. Network Encryption
5.2.4. Cloud Encryption
Chapter 6. Global Encryption as a Service Market Size & Forecasts by Organization Size (2024-2034)
6.1. Segment Dashboard
6.2. Market Revenue Trend Analysis (2022 & 2032)
6.2.1. Small & Medium Enterprises (SMEs)
6.2.2. Large Enterprises
Chapter 7. Global Encryption as a Service Market Size & Forecasts by Vertical (2024-2034)
7.1. Segment Dashboard
7.2. Market Revenue Trend Analysis (2022 & 2032)
7.2.1. BFSI
7.2.2. Healthcare
7.2.3. Government & Defense
7.2.4. IT & Telecom
7.2.5. Retail & E-Commerce
Chapter 8. Global Encryption as a Service Market Size & Forecasts by Region (2024-2034)
8.1. North America
8.1.1. U.S.
8.1.2. Canada
8.1.3. Mexico
8.2. Europe
8.2.1. UK
8.2.2. Germany
8.2.3. France
8.2.4. Italy
8.2.5. Spain
8.2.6. Rest of Europe
8.3. Asia-Pacific
8.3.1. China
8.3.2. India
8.3.3. Japan
8.3.4. Australia
8.3.5. South Korea
8.3.6. Rest of Asia-Pacific
8.4. Latin America
8.4.1. Brazil
8.4.2. Argentina
8.4.3. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. South Africa
8.5.4. Rest of Middle East & Africa
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. AWS (US)
9.1.2. Cisco (US)
9.1.3. Google (US)
9.2. Market Strategies of Leading Players
9.3. Company Profiles
9.3.1. IBM (US)
9.3.2. Microsoft (US)
9.3.3. Thales (France)
9.3.4. Box (US)
9.3.5. Fortanix (US)
9.3.6. Proton (Switzerland)
9.3.7. Tencent Cloud (China)
9.3.8. NordLocker (Netherlands)
9.3.9. Retarus (Germany)
9.3.10. Akeyless (US)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us