Increasing sensitive internal data breaches and cyber-attacks has forced companies to adopt efficient database encryption software which offers high level of encryption for crucial data. Enterprises of all kinds across the globe has started embracing database encryption solutions as it provides them data safety, confidentiality of the data stored and adherence to compliance regulation
The inception of social media in the last decade, increasing online presence of individuals and organization and high usage of smart and mobile devices for sending and exchanging information has generated a high amount of data for storage and analysis. This high amount of sensitive data generated is also vulnerable to losses. Company stores there critical data in the form of database and this databases are further stored in various virtual and physical storage devices and Data Centers.
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Increasing focuses on compliance adherence, exponential growth rate of data and wide availability of different type of flexible encryption solutions are some of the factors that are driving the database encryption market. High cost of encryption associated solutions and encryption key management are few of the reasons which may slow down the adoption of database encryption solutions among various industry verticals and domains. Increasing growth rate in requirement of cloud based encryption solutions in different industry verticals along with the high growth in requirement in small and mid-sized enterprises are expected to provide suitable opportunities for various market players that are operating in the global database encryption market.
The database encryption market is segmented on the basis of type into column level encryption, file-system encryption, key management, application-level encryption and transparent/external database encryption. The database encryption market is also divided on the basis of end users into small and medium enterprises and large enterprises. The database encryption market is also segmented on the basis deployment types into On-premise and cloud deployment. The database encryption market is segmented by different industry vertical into IT & telecommunication, banking, financial services and insurance (BFSI), government and public sector, retail and e-commerce, aerospace and defense, healthcare and others. The global database encryption market is bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.
North America holds one of the largest share in the global database encryption market. High technical adoption trends among various industry verticals and business in North American region has fueled the growth of the North American database encryption market. Asia Pacific is one of the fastest growing database encryption market and provides lucrative opportunity for various solutions vendors, high volume of data generation and its security requirements along with the growing adherence towards the regulatory compliances are some of the factors that are driving the Asia Pacific database encryption market.
Some of the key players operating in the global database encryption market are Intel Security (Mcafee), Microsoft Corporation, International Business Machines Corporation, Symantec Corporation, Netapp, Hewlett-Packard Company, Sophos, Vormetric, Oracle Corporation and Gemalto among others.
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