Global Database Encryption market is valued approximately USD 572.52 Million in 2018 and is anticipated to grow with a growth rate of more than 29.8% over the forecast period 2019-2026. Database encryption is the fastest growing end point data security solution. It has a wide range of application in end use industries such as BFSI, Government & defense, IT & telecommunication and manufacturing in order to offer security to their essential data from cyber-attacks. It is encryption technique that convert plain text data or database into ciphertext to secure the data and ensures the access of encrypted data to only authorized users by providing master encryption keys. It is benefitted in reducing hacking, unplanned downtime and operational cost of business. Therefore, rising concern for data theft and cybersecurity across the globe and prominent application of database encryption system in providing security to the organizations and enterprises data drive the growth of market over the forecast years. For instance: as per the Statistics released by National Crime Record Bureau (NCRB), India: Cybercrime cases were increased with 56% that is 21,796 in 2017compare 2016 that holds about 12000 total cybercrime cases. Similarly, as per Insurance Information Institute (III), the United States, over 351,937 cybercrime complaints were received in the United States in 2018 and increased to 467,361 in 2019. Additionally, rising government regulation across the globe regarding prevention of cyberattacks is expected to fuel propelling thrust to the growth of market over the forecast years. However, higher deployment cost and requirement of large infrastructure in large enterprises are the factors hamper the growth of market over the forecast years.
The regional analysis of global Database Encryption market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America accounts for the largest share in the global database encryption market due to the rising cases of cyber attacks in the region. Whereas, Asia pacific is the fastest growing region in the global database encryption market due to the presence of favorable government norms regarding protection of database from cyberattacks and thefts.
Market player included in this report are:
Win Magic Inc
Trend Micro Inc
Check Point Software Technologies Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment :
Creams & Lotions
Cleanser & Toner
IT and Telecommunication
Transportation & logistics
Defense & government
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Database Encryption Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers