NEW YORK, Jan. 31, 2022 /PRNewswire/ — The Encryption Management Solutions market is segmented into three categories based on the deployment (on-premise and cloud-based), application (endpoint encryption, network encryption, database encryption, and cloud encryption), and geography (North America, Europe, APAC, South America, and MEA). The market share is expected to increase by USD 6.07 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of almost 17%.

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Parent Market Analysis

Technavio categorizes the global encryption management solutions market as a part of the global systems software market within the global information technology (IT) market.

Technavio uses the total revenue generated by manufacturers to estimate the global encryption management solutions market size. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the encryption management solutions market throughout the forecast period, Download a free sample.

Encryption Management Solutions Market Value Chain Analysis

To maximize profit margins and evaluate business plans, an end-to-end understanding of encryption management solutions is required. The report will help vendors drive costs and enhance customer services during the forecast period.

• Inputs
• Software development
• Marketing and distribution
• Post-sales services
• Market innovation

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Vendor Insights 

The encryption management solutions market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment’s growth prospect while maintaining their positions in the slow-growing segments.

We provide a detailed analysis of vendors operating in the encryption management solutions market, including some of the vendors such as Broadcom Inc., Cisco Systems Inc., CommScope Holding Co. Inc., Dell Technologies Inc., International Business Machines Corp., McAfee LLC, Oracle Corp., Sophos Ltd., Thales Group, Trend Micro Inc.

Backed with competitive intelligence and benchmarking, our research reports on the encryption management solutions market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Product Insights and News

• Broadcom Inc. – Offers encryption management solutions under its cyber security product line.
• Cisco Systems Inc. – Offers encryption management solutions under the brand name Cisco storage media encryption and enterprise key management.
• CommScope Holding Co. Inc. – Offers encryption management solutions under the brand name RUCKUS.

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Geographical Highlights

The encryption management solutions market share growth in North America will be significant during the forecast period. The US is the key market for encryption management solutions in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.

The rising popularity of IoT, the increasing demand for integrated solutions such as Google Assistant and Alexa to improve customer service, and the increasing adoption of multi-cloud technologies are the primary factors driving the growth of the encryption management solutions market in North America. The desire of businesses to adopt new and creative technologies like as artificial intelligence (AI), machine learning (ML), and deep learning (DL), as well as the expanding demand for big data analysis across numerous industries, such as healthcare, are driving market expansion in the area.

Moreover, countries like the US, China, UK, Germany, and Japan are the key market for the encryption management solutions market in North America, owing to the augmenting demand for integrated solutions to improve customer service and the increasing adoption of multi-cloud technologies in this region. 

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Key Market Dynamics-

•  Encryption Management Solutions Key Market Drivers: 
• Regulatory compliance

The presence of strict regulations that charge hefty fines on enterprises for data breaches has resulted in the significant growth of the global encryption management solutions market. To secure the data of businesses, regulatory agencies have given instructions such as anonymization or pseudonymization. Regulatory organizations are making it mandatory for businesses to immediately notify affected users and the regulatory authority in the event of a data breach. As a result, regulatory compliance is a key driver of the global encryption management solutions market’s growth.

•  Encryption Management Solutions Key Market Trends:
• Surging demand for IoT devices

Enterprises will acquire more personal data as a result of technological advancements such as the Internet of Things, as the number of linked devices will skyrocket in the coming years. As a result, governments all around the world are focusing on enacting tougher data privacy legislation. These considerations will drive up demand for encryption management software even more. Cyberattacks will become a major problem for businesses, particularly those in the IoT industry and dealing with large amounts of data. As a result, businesses must secure the security of data-in-transit in addition to looking for cybersecurity solutions such as firewalls to safeguard data-at-rest.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

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SOURCE Technavio