Cloud Encryption Market, by Component (Solution and Services) by Organisation Size (Small, Medium, and Large), by Service Model (SAAS, PAAS, and IAAS), by Verticals(BFSI, Healthcare, Retail and Consumer goods, IT and Telecom services, Government, Healthcare, Media and Entertainment , Travel and Hospitality and others), and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis (2017-2025)

Cloud encryption is the service offered by cloud storage providers for encrypting data before storing on the cloud. Encryption is one of the most effective approaches towards data security, scrambling content of any system, database, and file in such a way that it is not possible to decode without a decryption key. Thus, encrypting the data is an essential for data security, and is a major factor propelling growth of the market. Increasing cloud traffic is another major driver for growth of the cloud encryption market. For instance, according to Coherent Market Insights, global cloud IP traffic is expected to reach 14 ZB by the end of 2020, up from 4 ZB per year in 2015.

Increasing concerns related to data security is among the major driving factors for growth of the market

Companies and organizations are increasingly adopting cloud encryption techniques for protecting their sensitive information from threats such as data breaches, unauthorized use of data by third party, and malware. For instance: According to CMI survey, In 2017, 98 % of the companies are have experienced the malware attacks, 69% of the companies have experienced the phishing and social engineering attacks. Thus, encryption techniques such as cryptography and steganography are being used for increasing data security, which in turn, is help in reducing data breaches sue to cyber-attacks. This is further expected to aid in growth of the market over the forecast period.

Cloud Encryption Market: Segmentation

  • By component
    • Solution
    • Services
  • By organization size
    • Small Enterprises
    • Medium Enterprises
    • Large Enterprises
  • By service model:
    • SAAS(software as a services)
    • PAAS(platform as a services)
    • IAAS(Infrastructure as a services)
  • By  platform/End-User:
    • BFSI
    • Healthcare
    • Retail and Consumer goods
    • IT and Telecom
    • Media and Entertainment
    • Travel and Hospitality
    • Government
    • Other

Cloud Encryption Market: Regional Insights

On the basis of geography, global cloud encryption market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for cloud encryption in North America is expected to account for the largest share in the global market over the forecast period. The U.S. held the dominant position in North America cloud encryption market in 2016. The U.S. and Canada are major growth engines in North America. Organizations in North America are focusing on their shifting business workload to cloud environment and this is one of major driving factors for growth of the cloud encryption market. For instance, in 2016, North America accounted for around 42% of the cloud data center workload, globally. As these businesses to shift their workload to cloud, demand for encryption techniques for managing the sensitive data increases, in order to protect the data from cyber threats. Therefore, this is expected to aid in growth of the market. Moreover, increasing cloud traffic in North America is also another major factor for growth of the market. According to the Coherent Market Insights analysis, in 2015, the cloud traffic was 1891 EB (Exabyte) and is estimated to reach 6844EB (Exabyte) by 2020.

Cloud Encryption Market: Competitive Background

Major players operating in the cloud encryption market are Cipher Cloud Inc. (U.S.), Hytrust Inc. (U.S.), Gemalto N.V. (the Netherlands), IBM Corporation (U.S.), Secomba GmbH (Germany), Sky-high Networks Inc. (U.S.)., Sophos Group Plc. (U.K.), Vormetric (U.S.), Boxcyrptor (U.S.), Viivo, Wave System, Symantec Corporation (U.S.), and Thales e-Security Corporation (France).

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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