Enterprise Key Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Enterprise Key Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global enterprise key management market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 15.4% during 2023-2028.

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 management market report, along with forecasts at the global, regional and country level from 2023-2028. 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.

Key Questions Answered in This Report

1. What was the size of the global enterprise key management market in 2022?

2. What is the expected growth rate of the global enterprise key management market during 2023-2028?

3. What are the key factors driving the global enterprise key management market?

4. What has been the impact of COVID-19 on the global enterprise key management market?

5. What is the breakup of the global enterprise key management market based on the component?

6. What is the breakup of the global enterprise key management market based on the deployment mode?

7. What is the breakup of the global enterprise key management market based on enterprise size?

8. What is the breakup of the global enterprise key management market based on the application?

9. What is the breakup of the global enterprise key management market based on the end use industry?

10. What are the key regions in the global enterprise key management market?

11. Who are the key players/companies in the global enterprise key management market?