Database encryption is the process of converting plain text data contained in a database into useless cypher text using an appropriate mechanism. The emergence of social media in the previous decade, as well as individuals' and organisations' expanded online presences and widespread usage of smart and mobile devices for receiving and distributing information, has resulted in a massive volume of data to store and analyse. This vast volume of confidential information is also in danger of being lost. Data is kept in databases, which are then stored in a variety of virtual and physical storage devices and Data Centers.
Businesses have been forced to invest in database encryption software that delivers a high level of data encryption as internal data breaches and cyber-attacks have become more sensitive. Because they provide data security, data confidentiality, and adherence to compliance standards, database encryption solutions have become popular among enterprises of all sizes all over the world.
Because of the exponential growth of company and customer data generated by enterprises, the risk of data theft or hacking has increased, prompting the use of database encryption solutions. A major area of opportunity for database encryption is the increased demand for cloud-based databases and cloud-based database encryption solutions. Some of the key factors driving market expansion are the requirement to comply with government and other regulatory laws, as well as the growing digitalization of businesses and economies.
A increasing focus on regulatory conformance, the exponential growth rate of data, and the wide availability of numerous types of flexible encryption solutions are driving the database encryption industry. The high cost of encryption-related solutions, as well as encryption key management, could stymie the adoption of database encryption solutions across a wide range of industries and disciplines.
The report also emphasizes several distinctiveness of the global database encryption industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the database encryption industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The database encryption market has tough competition among the new emerging and pre-established market vendors. Besides, the database encryption industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
The market is divided into BFSI, IT & telecom, retail and E-commerce, government and public sector, healthcare, aerospace & defence, and others, according on the industry vertical. The BFSI market is predicted to increase significantly by 2020. Finance apps are those that perform financial transactions and are concerned with database encryption security, such as online banking portals, online insurance applications, and others. Because the bulk of e-commerce and retail apps deal with financial transactions, security is also an important consideration. Online banking application concerns such as identity theft, session hijacking, password hacking, and other threats have a long-term impact on income and user confidence. Database encryption also provides a variety of personalization and customisation options, allowing financial institutions to develop customised campaigns and services for specific segments.
North America is home to one of the world's major database encryption markets. High technical adoption trends across a variety of industry verticals and organisations in the region have fueled the growth of the North American database encryption market. The database encryption industry in Asia Pacific is one of the fastest expanding, with significant potential for solution providers. The market is being driven by several factors, including the huge number of data generated and its security requirements, as well as the increased adherence to regulatory compliance.
The major players of the global database encryption market are Intel Security (Mcafee), Microsoft Corporation, International Business Machines Corporation, Symantec Corporation, Netapp, Inc., Hewlett-Packard Company, Sophos Ltd., Vormetric, Oracle Corporation and Gemalto among others. Renowned companies are offering new and modern database encryption software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Database Encryption Market
Type Overview, 2019-2028 (USD Million)
- Transparent Encryption
- Column-level Encryption
- File-system Encryption
- Application- Level Encryption
- Key Management
Deployment Model Overview, 2019-2028 (USD Million)
Operational Models Overview, 2019-2028 (USD Million)
Industry Vertical Overview, 2019-2028 (USD Million)
- IT & Telecom
- Retail and E-commerce
- Government and Public Sector
- Aerospace & Defense
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America