Cloud Encryption Market Worth, Size, Industry Growth, Share, Opportunities, Emerging Technologies, Competitive Landscape, Future Plans and Global Trends by Forecast 2027
Cloud encryption is a part of enterprise key management and used in securing the data transferred to the cloud. It includes creation, maintenance, access, and deletion. The global cloud encryption market report by Market Research Future (MRFR) takes a deeper look into the industry and outlines projections for the period for 2017 to 2023 (forecast period). The COVID-19 pandemic and its implications on the industry are explored in the report.
Market Scope
The cloud encryption market is expected to grow at approximately USD 2,959 million by 2023 at 29% CAGR over the forecast period. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enables enterprise to focus on core business competencies.
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Segmentation
The cloud encryption market is segmented on the basis of component, service model, cloud deployment, organization size, and vertical.
By component, it is segmented into service and solution. The service segment is sub-segmented into managed service and professional service.
By service model, it is segmented into software-as-a-service, infrastructure-as-a-service, and platform-as-service. Software as a service platform helps in delivering centrally hosted applications over the internet.
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