#keymanagement

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The global enterprise key management market size is estimated to reach USD 9.82 billion in 2030 and is projected to grow at a CAGR of 19.8% from 2024 to 2030. Increasing number of data breaches and loss of confidential data, coupled with increasingly stringent regulations and compliance standards to safeguard sensitive data from malicious users, have led to the implementation of advanced enterprise security solutions across different industries. The shift of organizations toward a digital environment for offering digital services and the need to protect increasing volumes of sensitive data are expected to drive the market.    

Enterprise Key Management Market Report Highlights

North America is expected to be the largest market during the forecast period, owing to technological proliferation and accelerated adoption of digital services

Increased online and mobile transactions, along with data security regulatory mandates will drive the market growth

Increasing investments in cloud-based encryption solutions and the need to protect increasing data volume will drive the growth of the enterprise key management market

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Enterprise key management is an essential component of data encryption solutions and involves managing and dealing with generation, exchange, storage, use, destruction, and replacement of cryptographic keys that encrypt different data sources such as emails, databases, disk drives, big data repositories, backup tapes, and data over cloud environments. The key management solutions protect cryptographic keys throughout their lifecycle and restrain unauthorized users from accessing the keys or data.

Organizations are increasingly deploying encryption solutions to protect confidential data, thus, enabling the growth of the enterprise key management market. However, issues related to a lack of skilled key management workforce and standardized key management systems are expected to challenge the industry. Furthermore, the high cost and complex deployment of key management solutions are expected to hinder the market growth.

List of major companies in the Enterprise Key Management Market

Venafi, Inc.

Thales

Google

IBM

Amazon Web Services, Inc.

Oracle

Hewlett Packard Enterprise Development LP

Quantum Corporation

WinMagic

Microsoft

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Your ability to manage security operations built on cryptography such as digital signing or data encryption depends squarely on how well you can manage the cryptographic keys that govern these processes. By managing keys effectively across their entire lifecycle keeping them secure and available you can reduce risk, lower deployment costs, and preserve compliance with data protection regulations.

Products and services from Marshal can help you implement Key Management System best practices that deliver high levels of assurance and operational efficiency so you can keep business processes manageable and scalable.