Enterprise Key Management Market Report by Component (Solutions, Services), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Disk Encryption, File and Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), End Use Industry (BFSI, Healthcare, Retail, IT and Telecom, Government and Defense, and Others), and Region 2024-2032
The global enterprise key management market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 2.1 Billion
Market Forecast in 2032
US$ 7.0 Billion
Market Growth Rate 2024-2032
13.9%
Enterprise key management assists in the management of all the cryptographic keys used by an enterprise, including the creation, access, maintenance, decryption, and destruction of these keys. It can help protect the trade secrets and other sensitive information of an organization. It has automation and scalability capabilities, which aid in reducing the number of skilled human resources required to manage keys. As a result, enterprise key management finds extensive applications in businesses across various industry verticals, such as healthcare, retail, and banking, financial services and insurance (BFSI).
Enterprise Key Management Market Trends:
There is currently a significant rise in the number of data breaches in businesses across the globe. In line with this, governments of numerous countries are developing national cybersecurity defense strategies to combat risks encountered by their citizens, businesses, and critical infrastructure. This represents one of the key factors stimulating the growth of the market. Moreover, organizations face several challenges while controlling and managing their encryption keys. For instance, they need to secure the keys from malicious insiders and attackers, manage a considerable number of encryption keys used in infrastructure, and support multiple heterogeneous environments consisting of applications, databases, and standards. Consequently, organizations are increasingly adopting enterprise key management solutions, which help improve the overall efficiency of their security procedures. Besides this, the cost of deploying enterprise key management solutions is less than the cost of a data breach. This, in turn, is catalyzing the demand for enterprise key management solutions worldwide. Other factors, including the thriving information technology (IT) sector and the rapid expansion of small and medium-sized enterprises (SMEs), are projected to drive the market in the forecast period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global enterprise key managementmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment mode, enterprise size, application and end use industry.
Breakup by Component:
Solutions
Services
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Enterprise Size:
Small and Medium-sized Enterprises
Large Enterprises
Breakup by Application:
Disk Encryption
File and Folder Encryption
Database Encryption
Communication Encryption
Cloud Encryption
Breakup by End Use Industry:
BFSI
Healthcare
Retail
IT and Telecom
Government and Defense
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Box Inc., Broadcom Inc., Dell Technologies Inc., Google LLC, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Thales Group, Townsend Security, Unbound Security and WinMagic Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Component, Deployment Mode, Enterprise Size, Application, End Use Industry, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Amazon Web Services Inc. (Amazon.com Inc.), Box Inc., Broadcom Inc., Dell Technologies Inc., Google LLC, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Thales Group, Townsend Security, Unbound Security and WinMagic Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global enterprise key management market was valued at US$ 2.1 Billion in 2023.
We expect the global enterprise key management market to exhibit a CAGR of 13.9% during 2024-2032.
The rising prevalence of data breaches, along with the growing adoption of enterprise key management solutions by numerous organizations to improve the overall efficiency of their security procedures, is primarily driving the global enterprise key management market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of remote working model resulting in the wide utilization of enterprise key management solutions to protect the confidential data and other sensitive information.
Based on the component, the global enterprise key management market can be segmented into solutions and services. Currently, solutions hold the majority of the total market share.
Based on the deployment mode, the global enterprise key management market has been divided into on-premises and cloud-based, where on-premises deployment currently exhibits a clear dominance in the market.
Based on the enterprise size, the global enterprise key management market can be categorized into small and medium-sized enterprises and large enterprises. Currently, large enterprises account for the majority of the global market share.
Based on the application, the global enterprise key management market has been segregated into disk encryption, file and folder encryption, database encryption, communication encryption, and cloud encryption. Among these, disk encryption currently holds the largest market share.
Based on the end use industry, the global enterprise key management market can be bifurcated into BFSI, healthcare, retail, IT and telecom, government and defense, and others. Currently, the BFSI industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global enterprise key management market include Amazon Web Services Inc. (Amazon.com Inc.), Box Inc., Broadcom Inc., Dell Technologies Inc., Google LLC, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Thales Group, Townsend Security, Unbound Security, and WinMagic Inc.
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