The database encryption is a technology being widely used with an objective to protect databases containing vital & confidential information. Using database encryption technology the simple data stored in database is converted to an encrypted format. This encrypted data is expected to be unreadable without encryption key. The use of database encryption is based on the three important security features that maintain the integrity, confidentiality and availability. The important functions associated to application of the predefined restrictions, prevention of data corruption, reliable and regular access over the database being performed by using these security features.
According to study, “Global Database Encryption Market to reach USD 4613.05 Million by 2026”. Some of the key companies operating in the global database encryption market are IBM Corporation, Microsoft Corporation, Symantec Corporation, Win Magic Inc, Intel, Check Point Software Technologies Ltd., Gemalto, EMC Corporation, Oracle, Trend Micro Inc. Many of the organizations are further using the database encryption over many applications associated to communication encryption, disk encryption, cloud encryption, file & folder encryption and many others.
Based on type, database encryption market is segmented as database operational models and database encryption types. Database operational models include data-in-motion and data-at-rest. Database encryption types include file system encryption, transparent or external database encryption, application level encryption, column level encryption and key management. Based on deployment model, market is segmented as cloud deployment and on-premises. Based on organization size, market is segmented as large enterprises and small & medium enterprises (SMEs). In addition, based on vertical, market is segmented as government & public sector, Banking, Financial Services, and Insurance (BFSI), retail & e-commerce, healthcare, IT & telecom, aerospace & defense and others.
The database encryption market is driven by rise in demand for cloud-based database, followed by increase in need of organizations to comply with regulatory standards, rise in focuses on compliance adherence, wide availability of different type of flexible encryption solutions, ease of deployment, increased scalability, flexibility of database encryption solutions and growth in availability of flexible encryption software. However, lack of proper key management and high cost encryption solutions may impact the market. Moreover, rise in demand for cloud based encryption solutions is a key opportunity for market.
Based on geography, the North-American region accounts largest share in the global database encryption market owing to rise in cases of cyber attacks and growth in adoption of Bring Your Own Devices (BYOD), mobility and cloud services in the region. Whereas, the Asian-pacific region is anticipated to witness higher growth rate due to presence of favorable government norms regarding protection of database from thefts and cyber attacks over the forecast period. In upcoming years, it is estimated that future of the market will be bright because of growth in digitalization & outsourcing of databases coupled with increase in a number of public database breaches during the forecast period. The database encryption global market was valued approximately US$572.52 Million in 2018 and it is further expected to increase with a growth rate of more than 29.8% over the forecast period.
Courtesy: Ken Research