Database encryption improves the security of your data while it's in transit and at rest. With recent security breach incidents, many organisations have begun to take data encryption seriously. Database servers are a common target for attackers in most circumstances because they house the most valuable asset for most businesses. Once an intruder has gotten access to your server's sensitive data, it's likely that they'll steal it. They then utilise the data to extract ransom, data exploitation, or other financial benefits from the organisation they have targeted. As a result, having a database encryption solution is critical.
The global database encryption market size was estimated to reach over USD 871.5 million in 2020, and projected to grow significantly with a CAGR of 31.8% over the forecast period. This can be ascribed to the growing need for security concerns owing to rising number of security breaches cases. Database encryption is a technique for safeguarding databases that contain sensitive or secret data. Simple data in the database would be changed to an encrypted representation using this method. Anyone without the encryption key would be unable to read this encrypted data.
The data encryption market is primarily driven by regulatory and compliance needs. Regulatory requirements such as the Health Insurance Portability & Accountability Act (HIPAA) for healthcare and the Payment Card Industry Data Security Standard (PCI DSS) for banking, financial services, & insurance (BFSI) have compelled businesses all over the world to implement data security measures.
Database Encryption Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 871.5 million|
|Growth Rate||CAGR of 31.8% during 2021-2028|
|Segment Covered||Type, Application, Region|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||IBM Corporation, Symantec Corporation, Intel Security, Microsoft Corporation, and Oracle Corporation, NetApp Inc., HP, Vormetric, Sophos Ltd., and Gemalto|
Key Segments of the Global Database Encryption Market
Type Overview, 2015-2028 (USD Billion)
- Transparent Encryption
- Column-level Encryption
- File-system Encryption
- Application-level Encryption
- Key Management
Application Overview, 2015-2028 (USD Billion)
Regional Overview, 2015-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Database Encryption Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Database Encryption Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Database Encryption industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Type, Type, Application, and Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Database Encryption Market. The report will benefit:
- Every stakeholder involved in the Database Encryption Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Database Encryption Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Database Encryption Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The growing understanding among organisations of ensuring employee safety and health, environmental protection, and government regulations is the main factor driving the growth of the market for product stewardship. As it is a term known as the duty of the producer, producers are responsible for the shelf-life of their goods. Due to a growing appetite for eco-friendly goods, manufacturers are concentrating on organic packaging. Such awareness among individuals has increased the prominence of the market for product stewardship.
In every manufacturer's day-to-day operations and licence to operate, however, product stewardship is a vital aspect. Nevertheless the dedication to EHS management is evidenced by an efficiently controlled product stewardship process and allows increasing demands for safer and healthier eco-friendly goods to be met. By reducing the risk of damage to both the environment and society, the stewardship process adds value to goods. Rising the amount of quality management embraced by manufacturers could provide a catalyst for the global market for product stewardship. In the global product stewardship industry, capitalising on product stewardship opportunities in supply chains will also help to boost efficiency and gain competitive advantage.
Based on type, the Transparent Encryption segment of the market is projected to grow at the highest CAGR from 2019 to 2028, owing to the growing introduction of new mobile devices along with comprehensive usage of social media & virtual storage applications is expected to boost the market growth. Some of the well known database encryption methods are TDE method, API method, and piug-in method. File-sytem encryption segment is anticipated to expand at considerable CAGR during the forecast period.
Application segment is comprised of SMBs, and Enterprises. The SMBs segment is expected to lead the market from 2019. The growth of this segment can be attributed to the increasing need for data security in small & medium sized businesses to manage larger database. In addition, the database encryption solutions are widely used in various industries such as banking, financial services & insurance (BFSI), healthcare, IT and telecom, government and other public sector, retail & e-commerce, aerospace and defense sector.
In various regions across the globe, the global Database Encryption market is experiencing steady growth. With regard to the regional outlook, Asia Pacific is projected to rank higher in terms of market share than other regions of the global market for Database Encryption. Growing demand for secured data management across the developing countries such as India and China in Asia Pacific is projected to witness a prolific growth in the coming years. The growth of North America's global Database Encryption market may also be influenced by Increased customer spending, increased frequency of purchases, increased loyalty in the region. The implementation of Database Encryption in the North American region is motivated by rising need for security in cloud and on-premise environment owing to growing number of cyber attacks.
The global market for Database Encryption is made up of a large number of influential players. Market players such as IBM Corporation, Symantec Corporation, Intel Security, Microsoft Corporation, and Oracle Corporation dominate the worldwide Database Encryption market. Some of the few other players include NetApp Inc., HP, Vormetric, Sophos Ltd., and Gemalto.