Cloud Encryption Market 2022-2028: Development of IT and Telecommunications Industries Propel Market Growth

Market size – USD 0.88 billion in 2018, market growth – CAGR of 22.9%

NEW YORK CITY, NEW YORK, USA, Aug. 16, 2022 / — The global cloud encryption market is expected to reach $4.61 billion by 2026, according to a new report from Reports and Data. Cloud Encryption is provided by cloud service providers. This encryption enables secure calculation of data and also ensures data protection against hacking as well as prevention of data theft scenarios. The encryption method protects data by scrambling the contents of a system or database. Thus, the files or data are inaccessible with the decryption key. Rising cloud traffic, along with high demand for protecting sensitive information from data breaches and unauthorized access by third-party initiatives, is driving the growth of the cloud encryption market.

The cloud encryption market is driven by the growing demand from data-hogging multinational corporations that dwell primarily on cloud computing. Encryption ensures the protection of this sensitive data to safeguard the privacy of the company.

Along with the market drivers, there are also restraints that significantly influence the market. Limiting factors include people’s lack of awareness about cloud security and data protection. Lack of budget for obtaining cloud encryption solutions is another major constraint for the market. With high commercialization, large-scale implementation of cloud encryption is expected.

The population of Asia-Pacific is turning towards young people, and the purchasing potential of this young population is also increasing. Countries consider India and China as the global market leaders in cloud security and encryption. These countries account for more than 35% of the world’s population and the application of security services in this region is expected to grow at a very high rate due to the growth of IT industries as well as telecommunication service providers.

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Top 10 Profiles in Cloud Encryption Market Report:
• Sophos Group Plc
• Thales e-Security
• Gemalto SA
• Skyhigh Networks
• Symantec Corporation
• CipherCloud
• Netskope Inc.
• Trend Micro Incorporated
• HyTrust Inc.
• Vaultive Inc.

Market segmentation :
Component type outlook revenue, in billions of dollars; 2016-2026)
• Service
• The solution

Service Type Outlook (Revenue, USD Billion; 2016-2026)
• Infrastructure as a Service
• Software as a service
• Platform as a service

Deployment Outlook (Revenue, USD Billion; 2016-2026)
• Audience
• Private
• Hybrid

End User Outlook (Revenue, USD Billion; 2016-2026)
• Health care
• Retail and consumer goods
• IT and Telecom
• Media and entertainment
• Travel and Hospitality
• Government
• Others

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Cloud Encryption Market Report Highlights:
• A comprehensive overview of the global Cloud Encryption industry.
• Accurate market projections in terms of market size, share and volume.
• In-depth study of global market dynamics such as key market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• In-depth analysis of upcoming market trends.
• Qualitative and quantitative analyzes of the Cloud Encryption market.
• Elaborate study of major regional markets of Cloud Encryption market.
• Complete overview of the competitive landscape of the market.
• Brief overview of company profiles and portfolios.

Key Regional Markets Covered in the Report:
• North America
o United States
o Canada
o Mexico

• Europe
o Russia
o United Kingdom
o Germany
o France
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific

• Latin America
o Brazil
o Rest of Latin America

• Middle East and Africa
o Saudi Arabia
o Israel
o Rest of the Middle East and Africa

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About reports and data
Reports and Data is a market research and consulting firm that provides syndicated research reports, custom research reports and consulting services. Our solutions are uniquely focused on your goal to locate, target and analyze changes in consumer behavior across demographics, across industries and help customers make a smarter business decision. We offer market intelligence research ensuring relevant, fact-based research across multiple sectors including healthcare, technology, chemicals, power and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Reports and Data has a strong base of experienced analysts in various areas of expertise.

Tushar Rajput
Reports and data
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