With the increasing need for organizations to encrypt their data for security reasons, enterprise key management was introduced. In Enterprise key management, the organizational data is stored on the cloud, and keys are provided for accessing the data on the network or database.
Due to the increasing number of organizations opting for enterprise key management, trends are being studied to get a comprehensive picture of how the Enterprise Key Management Market is shaping. Recently, a report has been published that estimates Enterprise Key Management industry market development trends for 2021-2027. The report provides a critical assessment of key growth dynamics, investment trends in key regional markets, emerging pathways, the key player strategies, and the competitive scenarios in various regions. Besides presenting market analysis based on several factors, the report offers insights about various segments of the Enterprise Key Management market. Several quantitative and qualitative analysis techniques have been used in the research for data collection.
As per the report, the global revenue of the enterprise key management market stood at USD 815.7 million in the year 2019 and is predicted to yield USD 4,072.3 mn by 2027, at 16.9% CAGR over the forecast period.
The increased demand for cloud-based computing and encryption of data due to increasing cyber-attacks provides impetus to the growth of the Enterprise Key Management Market.
However, like data management, transmission and storage is a complex process; lack of knowledge and labor serves as a restraint in the growth of the market.
The following segments are used for diving Global APM Automation Tools Market:
- Based on the deployment, they can be divided into on-premise enterprise key management and on cloud enterprise key management.
- Based on the end-user profile, it can be divided into banks and financial services, IT, media, government, healthcare, and several other categories.
Sub-segmentation of the enterprise key management market
The enterprise key management market can be sub-segmented into seven regions: East Europe, West Europe, Africa, Asia Pacific, Latin America, North America, Japan, and the Middle East.
Asia Pacific region emerges as the fastest-growing region in the Enterprise key management market due to increasing concern among the enterprises for data security.
The report, which consists of Google Inc, IBM Corporation, Townsend Data Security LLC, and seven other companies as major contributors, provides a neutral assessment of the market performance and is a must-have for market players to sustain and grow their market.