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The Database Encryption Market is significantly influenced by various market factors that play a crucial role in shaping its dynamics. One of the key drivers propelling the growth of this market is the escalating concern for data security across industries. As businesses increasingly rely on digital platforms to store and manage sensitive information, the risk of data breaches becomes a paramount concern. Database encryption emerges as a strategic solution, ensuring that confidential data remains protected from unauthorized access. This heightened awareness of cybersecurity risks fuels the demand for robust encryption solutions, thereby positively impacting the market.
Moreover, stringent regulatory mandates and compliance requirements also contribute to the expansion of the database encryption market. Governments and regulatory bodies worldwide are enforcing strict data protection laws, mandating organizations to implement measures that safeguard sensitive information. Compliance with regulations such as GDPR, HIPAA, and others necessitates the adoption of encryption technologies to ensure the confidentiality and integrity of stored data. This regulatory landscape acts as a catalyst, compelling businesses to invest in database encryption solutions to adhere to compliance standards.
The ever-evolving threat landscape is another critical factor driving the adoption of database encryption. Cyber threats are becoming more sophisticated, with hackers continuously devising new techniques to infiltrate databases and compromise sensitive information. Recognizing the need for advanced security measures, organizations are increasingly turning to encryption as a proactive defense mechanism. Database encryption not only protects data at rest but also during transmission, providing a comprehensive security framework against evolving cyber threats.
On the flip side, the complexity and cost associated with implementing and managing encryption solutions pose challenges for market growth. Integration of encryption technologies into existing databases can be intricate, requiring specialized skills and resources. Additionally, the financial investment required for acquiring and maintaining encryption solutions may deter some organizations, particularly small and medium-sized enterprises (SMEs), from fully embracing these security measures. Striking a balance between robust data protection and cost-effectiveness remains a constant challenge for businesses contemplating database encryption adoption.
Furthermore, the rising adoption of cloud computing and the proliferation of mobile devices contribute to the expansion of the database encryption market. As organizations migrate their operations to the cloud and employees access corporate data from various devices, the attack surface for potential security breaches widens. Database encryption becomes instrumental in securing data across diverse platforms, ensuring a consistent level of protection irrespective of the computing environment. This trend is likely to gain momentum as the business landscape continues to embrace digital transformation.
Competitive factors also play a pivotal role in shaping the dynamics of the database encryption market. With a growing number of vendors offering encryption solutions, the market becomes increasingly competitive. Innovation, product differentiation, and strategic partnerships become crucial for companies aiming to establish a strong foothold in the market. Additionally, the market's growth is influenced by the ability of vendors to cater to specific industry requirements, such as healthcare, finance, and government, where data security and privacy are paramount.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 1.5 Billion |
| Market Size Value In 2023 | USD 1.88 Billion |
| Growth Rate | 25.50% (2023-2032) |
Database Encryption Market Highlights:
Global Database Encryption Market Overview:
Database Encryption Market Size was valued at USD 1.5 Billion in 2022. The database encryption market industry is projected to grow from USD 1.88 Billion in 2023 to USD 11.584 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.50% during the forecast period (2023 - 2032). The primary market driver fueling the growth of the database encryption market is the increase in reported public database breaches. The database encryption market is also anticipated to increase due to the scalability, placement convenience, and flexibility associated with database encryption solutions and the rising adoption of cloud-based databases, BYOD, and mobility services.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Database Encryption Market Trends
- Increasing need for Cloud-based security will drive the market growth
The demand for a hybrid multi-cloud architecture is dramatically growing as data storage grows. Due to increased exposure to data ransomware, theft, and misuse, most organizations must comply with many rules. Additionally, most laws, like the General Data Protection Regulation, emphasize encryption and offer technical and administrative safeguards. This has also sparked the creation of database encryption strategies that support organizations' need for cloud-based security solutions and accelerate the market CAGR for database encryption.
Furthermore, the deployment of encryption has become the way of the future, which has also fueled the growth of physical-based security, including blockchain-based, quantum-computer-based, honey encryption, and IoT device security, among others. The need for database encryption is growing due to the return of keeping sensitive data off of company computers. Additionally, the adoption of hardware wallets for cryptocurrencies and the need to identify data criminals propel the market's expansion.
Additionally, governments of growing countries like China, South Korea, Dubai, India, Singapore, and Japan aim for their economies to flourish, partly because the market is speeding. During the projected period, the overall market expansion will be accelerated by governments' increasing use of big data analytics to improve internet services. It is anticipated that the improvement in people's living standards will fuel the market's growth rate during the anticipated time.
However, due to a surge in data theft and cybercrime occurrences, big data and the Internet of Things (IOTs) have greatly influenced the expanding demand for data security and the increasing use of internet services. IoT enables the integration of radio frequency, Bluetooth, radio-frequency actuators, and sensors in the real world through highly networked services. Additionally, a significant driver fueling the market's expansion during the anticipated period is the increased focus on efficiency that results from growing urbanization. Thus, driving the database encryption market revenue.
Database Encryption Market Segment Insights:
Database Encryption Deployment Insights
The Database Encryption Market segmentation, based on deployment includes on-cloud and on-premise. The on-cloud segment dominated the market due to the increase in IoT technology adoption and the use of cloud databases for computing in different organizations for diverse purposes. Additionally, the on-cloud databases provide clients with enhanced performance, service resilience, and other benefits, which will increase demand for on-cloud databases overall during the projection period. The market for cloud databases is primarily driven by the expansion of the Internet of Things, cloud computing, and the use of cloud databases in banking and education.
Database Encryption Encryption Type Insights
The Database Encryption Market segmentation, based on encryption type, includes column-level, file-system and transparent. The transparent category generated the most income. Transparent encryption is an encryption method used to safeguard data while it is being processed in a database. As it travels through the system, the data is transmitted in plain text, but when written on a disc, it is encrypted. Any database form can employ transparent encryption, and no modifications to the application or schema are necessary.
Figure 1: Database Encryption Market, by Encryption Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Database Encryption Vertical Insights
The Database Encryption Market segmentation, based on vertical, includes aerospace & defense, BFSI, government, healthcare, manufacturing and retail. The government category generated the most income. The market's expansion is greatly aided by businesses and government organizations' increased use of DB encryption solutions. Additionally, as technology is used more frequently, the government sector is becoming an IT population, encouraging the implementation of database encryption. The health insurance portability and accountability act (HIPAA) for the healthcare industry and the payment card industry data security standard (PCI DSS) have accelerated the expansion of the database encryption business.
Database Encryption Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American database encryption market area will dominate this market. The market is expanding due to major players like Microsoft Corporation, IBM Corporation, Intel, SAS Institute Inc., Win Magic Inc., and EMC Corporation in this area. Furthermore, most small and medium-sized businesses in the US are integrating technology, which is driving up the demand for effective database encryption software.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Database Encryption Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe database encryption market accounts for the second-largest market share because of the region's booming IT and telecom sectors and the growing need to secure the enormous amounts of produced data. Over the coming years, it is also projected that the private sector's usage of personal computers and the Internet would raise demand for encryption solutions in this area. Further, the German database encryption market held the largest market share, and the UK database encryption market was the fastest growing market in the European region
The Asia-Pacific Database encryption Market is expected to grow at the fastest CAGR from 2023 to 2032. The region will be the most appealing place for market players throughout the projection period since businesses are compelled to store their data in the cloud due to the lack of storage infrastructure in the area. As a result, there is a greater chance of theft and data loss, which is increasing demand for database encryption. Moreover, China’s database encryption market held the largest market share, and the Indian database encryption market was the fastest growing market in the Asia-Pacific region.
Database Encryption Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the database encryption market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, database encryption industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global database encryption industry to benefit clients and increase the market sector. In recent years, the database encryption industry has offered some of the most significant advantages to market. Major players in the database encryption market attempting to increase market demand by investing in research and development operations include Pkware, Inc. (US), Microsoft Corporation (US), Trend Micro Inc. (Japan), Sophos Ltd. (US), Symantec Corporation (US), Check Point Software Technologies Ltd. (Israel), IBM Corporation (US), Intel (US), SAS Institute Inc. (US), Win Magic Inc. (Canada), Emc Corporation (US), Oracle Corporation (US), Netapp Inc. (US), Gemalto (The Netherlands), Vormetric Inc. (US) and Fireeye, Inc. (US).
IBM is a company that sells goods and services related to information technology (IT). In addition to offering infrastructure, hosting, and consulting services, the company develops and markets system hardware and software. Blockchain, IT infrastructure, cloud computing, IT management, cybersecurity, and software development technologies are all part of IBM's product range. Artificial intelligence (AI), automation, analytics, and automation are all included. In addition, the business provides services like cloud, security, networking, technology consulting, business resilience services, application services, and technology support services. In May 2018, IBM and Cisco, two firms with shared bases, combined IBM's security personnel with Cisco's security tools for quicker, more precise problem detection and resolution. If this partnership had been successfully implemented, it would have greatly enhanced treat intelligence, improved how products interact with services, and increased service integration.
Data management and business intelligence software services are offered by SAS Institute Inc (SAS). The company's solution portfolio comprises advanced analytics solutions, AI, ML, data management, decisioning, cloud, fraud and security intelligence, marketing analytics, operationalizing analytics, IoT, and risk management. Agriculture, banking, education, insurance, the life sciences, healthcare, manufacturing, retail, the public sector, consumer goods, small and midsize businesses, media and technology, sports, communications, and utilities are just a few sectors SAS supports.
Key Companies in the database encryption market include
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Pkware, Inc. (US)
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Microsoft Corporation (US)
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Trend Micro Inc. (Japan)
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Sophos Ltd. (US)
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Symantec Corporation (US)
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Check Point Software Technologies Ltd. (Israel)
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IBM Corporation (US)
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Intel (US)
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SAS Institute Inc. (US)
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Win Magic Inc. (Canada)
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Emc Corporation (US)
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Oracle Corporation (US)
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Netapp Inc. (US)
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Gemalto (The Netherlands)
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Vormetric Inc. (US)
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Fireeye, Inc. (US)
Database Encryption Industry Developments
September 2022: Convergence Technology Solutions Corp., a software-enabled IT and cloud solutions supplier, declared that it had obtained certification in Canada to sell and deploy IBM zsystems and LinuxONE.
November 2019: Penta Security Systems has announced that it has been selected as a finalist for the 2020 SC Magazine Awards, given by SC Media and honored in the United States. Because of this, MyDiamo from Penta Security has been named the Best Database Security Solution of 2020. Additionally, this will result in the expansion of common-level encryption and improve the open-source DBMS installation procedure.
Database Encryption Market Segmentation:
Database Encryption Deployment Outlook (USD Billion, 2018-2032)
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On-Cloud
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On-Premise
Database Encryption Encryption Type Outlook (USD Billion, 2018-2032)
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Column-Level
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File-System
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Transparent
Database Encryption Vertical Outlook (USD Billion, 2018-2032)
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Aerospace & Defense
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BFSI
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Government
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Healthcare
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Manufacturing
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Retail
Database Encryption Regional Outlook (USD Billion, 2018-2032)
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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