The opportunities for market growth in database encryption have shown great promise around the world with tremendous growth potential in terms of revenue generation. Database encryption improves the security of your data while it's in transit and at rest. With recent security breach incidents, many organizations have begun to take data encryption seriously. When compared to other cybersecurity solutions like antivirus software, web application firewalls, and identity and access management systems, data encryption takes a different approach. All of the other security technologies try to keep malevolent outsiders out of the IT system, whereas encryption protects the data itself, so that even if all other safeguards fail and attackers gain access to the data, it is useless to them. Data encryption is, in some ways, the last line of defense to mitigate cyberattacks.
Protection breaches are unavoidable, but with stronger security and data encryption methods, intruders may not be able to analyse or decrypt the data to have a better understanding of it. Assume a Man-in-the-Middle (MITM) attack or eavesdropping occurs during backups or server transfers. If this is an unencrypted data transmission, the attackers will benefit greatly; this is not a situation you want to find yourself in. If you have an encrypted database, an attacker will have to figure out how to decode the data. One of the most crucial security elements for keeping your data as safe as possible is encryption. It is not always necessary, depending on the data you handle, but you should at least consider it as a security upgrade in your firm. In fact, avoiding data theft or illegal access is highly suggested. Encryption is a method of concealing information by modifying it so that it appears as random data. Encryption methods can keep your data private, but other techniques and strategies are required to ensure the message's integrity and validity.
Encryption is one of the most critical needs when dealing with security laws like PCI-DSS. It is a criterion that must be met. For example, all cardholder information must be encrypted using industry-standard techniques. With centralized key management and simple APIs for data encryption, encryption key management is great for protecting sensitive data. Some of the major examples of key management are Hashicorp Vault, and closed source. The data encryption market is primarily driven by regulatory and compliance needs. Regulatory requirements such as the Health Insurance Portability and Accountability Act (HIPAA) for healthcare and the Payment Card Industry Data Security Standard (PCI DSS) for banking, financial services, and insurance (BFSI) have compelled businesses all over the world to implement data security measures. The introduction of new mobile devices, extensive use of social media, and virtual storage systems in businesses all result in massive amounts of data. This data must be safeguarded since it contains sensitive consumer information.
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. Different businesses concentrate on organic tactics such as launches of products, product licenses, trademarks and activities Acquisitions and cooperation & partnerships became inorganic growth plan practices observed in the sector. Such operations have opened the way for industry leaders to grow their company and customer base. In the future, with the growing need for digital payments in the global economy, market players from the database encryption market are anticipated to have lucrative growth prospects. With the demand for end-user experience tracking in the global markets, industry payers from end-user experience surveillance are expected to achieve lucrative growth prospects in the future.
Segment Overview of 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, 2018-2028 (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