August 13th, 2021
Global Application-level Encryption Market
The GMI Research forecasts that the Application-level Encryption Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the mounting investment by organizations in this technology to safeguard sensitive information and intensify productiveness.
Introduction of the Application-level Encryption Market
Application-level encryption (ALE) includes the encryption of data within the application without relying on at-rest encryption. It is executed in many different ways to serve diverse needs, from zero trust architectures, end-to-end encryption to field-level partial database encryption. The encryption works efficiently when incorporated with others to generate defense-in-depth: with access control, intrusion identification, logging, request authentication, and protection for data leakage.
Key Players of the Global Application-level Encryption Market:
· Prime Factors
· Amazon Web Services
· Micro Focus International plc
· Microsoft Corporation
· Symantec Corporation
· Alphabet Inc.
· Sophos Group plc
· Thales e-Security Inc.
· McAfee LLC
· IBM Corporation
· Application-level Encryption
Application-level Encryption Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Several drivers stimulating the growth of the global application-level encryption market include the deployment of digitalization in several business procedures to enhance operational effectiveness and the rising incorporation of these solutions by data encryption suppliers to encrypt data before reading and writing on the server. In addition, these solutions ameliorate the data accuracy, reduce the functioning cost and streamline several data-related procedures, which further strengthen the Application-level Encryption Market size. Also, their acceptance helps to minimize the chances of cyber thefts and data breaches as the data is stored in a cryptographic format, making it difficult to violate security for decryption without permission. Moreover, various organizations are increasingly investing in these technologies to protect sensitive information and raise productivity. The expanding acquisition of this software by small and medium enterprises to avoid internal infringement of data and ovoid cyberattacks has bolstered the market growth. However, the market research stated that inflated initial costs would curb the market growth.
Deployment Mode Segment Drivers
Based on deployment mode, the cloud is projected to expand at a faster rate owing to its economical cost and less interference leading to its excessive acceptance. Furthermore, the allocation of data-at-rest encryption by several leading market players and operating systems like Amazon Web Services, Google Cloud, and Microsoft Azure will proliferate the market share.
Enterprise Size Segment Drivers
Based on the enterprise size, large enterprises are contemplated to dominate the market during the coming years. Whereas, SMEs are predicted to experience significant growth over the forecast period owing to the various strategic government initiatives to encourage the growth of small businesses.
Based on the regional coverage, North America is expected to hold the largest market share in the near future. This is because of the foremost espousal of these solutions owing to the aggravating safety breaches. Asia-Pacific, on the other hand, will witness a faster CAGR because of the amplifying application of advanced and secure solutions. Moreover, rapid urbanization and economic development, followed by swift technological innovations, pave the way for market growth..
Application-level Encryption Market Segmentation:
Segmentation by Deployment Type
Segmentation by Enterprise Size
· Large Enterprises
Segmentation by End User
· IT & Telecom
· Retail & E-commerce
· Logistics & Transportation
Segmentation by End-Use Industry
· Automotive & Transportation
· Ship building
· Building and Infrastructure
· Building Facades
· Doors & Windows
· Consumer Durables
Segmentation by Region:
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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