The encryption management solutions market will register a CAGR of almost 14% by 2023
May 08, 2019
SC Pressroom Cybersecurity's leading news distribution network
NEW YORK,-- About this market
The increasing number of cyber threats is one of the key factors expected to trigger market growth in the forthcoming years. Cybersecurity is a growing concern intensifying due to digital innovations and rising volume of digital information. Interoperability among various sectors including the healthcare and BFSI sector for digitalized service developments are also increasing, in turn, boosting the demand for encryption management solutions during the forecast period. Analysts have predicted that the encryption management solutions market will register a CAGR of almost 14% by 2023.
Need for regulatory compliance
The presence of stringent regulations that levy hefty fines on enterprises for data breaches has resulted in the significant growth of the global encryption management solutions market during the forecast period.
Management of encryption keys
Vendors in the global encryption management solutions market are introducing advanced key management solutions such as multi-cloud, IoT, and data security in enterprises to address key management challenges. This will hinder the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the encryption management solutions market during 2019-2023, view our report.
The market appears to be highly concentrated with the presence of a few market players. Market vendors are focusing on developing advanced encryption solutions such as homomorphic encryption to address the concerns of enterprises toward the unprecedented growth of cyber-attacks. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies
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Tags: United States, English