Cloud encryption technology market is expected to grow considerably as cloud encryption technology provides a variety of services such as operating system, network hardware, storage, resources, and software to optimize productivity and ease business operations. As every organization is moving its data to the cloud, there is a significant demand for storage services provided by the cloud provider. Security and trust issues are among the key concerns since the user’s data are released to the cloud. So, there is a need to protect that data against unauthorized access, modification or denial of services and so forth.
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Encryption is a well-known technique for maintaining the privacy of sensitive information, however, it limits the functionality. The increased demand for enhanced security and inherent limits of traditional encryption schemes for the data on the cloud has surged the implementation of several new encryption algorithms such as searchable, order-preserving, and holomorphic schemes.
Moreover, data privacy is crucial on shared resources or over the internet and encryption generally plays a significant role in protecting data. The security issues are numerous in cloud computing and on the web in general, and various cryptography algorithms have been designed to protect the data at cloud and at the applications level on desktops. Cryptography mainly refers to a different science in which ciphers are designed which includes stream ciphers and block ciphers, as well as the hash functions. Encryption is a technique in which the ordinary text is converted into some secret text for the protection and integrity of the text.
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Furthermore, the cloud service models include Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), and Infrastructure-as-a-Service (IaaS). The SaaS cloud service model offers services to the customers as an application using a standardized interface. The service is invisible for the customers as it runs at the top of the application. The PaaS cloud service model provides the services as development and operation platform to the customers, allowing the consumer to use its own application maintained by the cloud-based infrastructure. Additionally, the IaaS cloud service model is the lowest service model in the technological stack, offering infrastructure resources as a service such as processing power, raw data storage, and network capacity.
Factors such as an increase in cloud adoption and virtualization, risks related to cloud environments due to big data analytics and regulations are expected to increase the adoption of cloud encryption solutions, that will boost the demand for global cloud encryption technology market. Developments in cloud technology in nations such as the US, UK, and China, will further boost the demand for global cloud encryption technology market. Key companies involved in the global cloud encryption technology market include McAfee, LLC, Sophos Ltd., Secomba GmbH, Symantec Corporation, Thales eSecurity, Inc., Trend Micro, Inc., Vaultive, Inc.
Global Cloud Encryption Technology Market Segment by Region
Geographically, the market is divided into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to dominate the market in the near future owing to the presence of numerous market players in the region. Furthermore, stringent encryption regulations across Europe is expected to promote the growth of the market in the coming years. Moreover, small and medium enterprises across the Asia-Pacific region including India, Japan, and China are adopting encryption technology at a significant pace. This is expected to promote the growth of the market in the coming years.
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