Global Cloud Encryption Market 2018-2022

Global Cloud Encryption Market 2018-2022

About Cloud Encryption

Cloud encryption principally transforms the user's data into ciphertext. Cloud encryption applications offer encrypted connections to a limited data, which is categorized as sensitive data or full end-to-end encryption of all the data that will be transferred to the cloud.

Technavio’s analysts forecast the global cloud encryption market to grow at a CAGR of 34.82% during the period 2018-2022.

Covered in this report

The report covers the present scenario and the growth prospects of the global cloud encryption market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

Technavio's report, Global Cloud Encryption Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• Gemalto
• Sophos
• Symantec

Market driver

• Increasing demand to counter IT shadow
• For a full, detailed list, view our report

Market challenge

• Rise of BYOD policy
• For a full, detailed list, view our report

Market trend

• Growing adoption of biometric encryption
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2022 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

Press Release

Technavio Announces the Publication of its Research Report – Global Cloud Encryption Market 2018-2022

Technavio recognizes the following companies as the key players in the global cloud encryption market: Gemalto, Sophos, and Symantec.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing adoption of biometric encryption. Cloud-related technology is being increasingly adopted in the market. This technology can connect multiple users anywhere in the world to exchange data. Though cloud has multiple benefits, it faces the biggest challenge in terms of security”

According to the report, one driver in the market is increasing demand to counter IT shadow. With rapid digitalization, businesses are growing very quickly and hence; the IT shadow is increasing with it. As per the current market scenario, it has been found that the Internal business units are operating groups, which often bypass IT services and security controls

Further, the report states that one challenge in the market is rise of BYOD policy. Companies that are trying make the workplace more employee-oriented are allowing employees to bring their own devices to work. However, this trend has become the worst nightmare for any organization's IT department

Companies Mentioned

Gemalto, Sophos, and Symantec.