A new market study, titled “Key Management As A Service Market Research Report Size, Status and Forecast 2017-2025” has been featured on Market Research Future.
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The Global Key Management as a Service Market was valued at USD 363.54 million in 2018; it is estimated to reach USD 2.29 billion by 2025 growing at a CAGR of 31.22% during the forecast period 2019–2025. Market Research Future (MRFR) has segmented the key management as a service market on the basis of component, application, organization size, vertical, and region.
Related Link : https://icrowdnewswire.com/2020/07/31/reopening-speed-of-top-companies-in-key-management-as-a-service-market-predicts-imperative-phase-with-covid-19-outbreak-sales-revenue-grow-pricing-and-industry-growth-analysis/
The development of key management as a service thus comes at a convenient time when managing sensitive data and login credentials are extremely important. Most of an individual’s information is stored online these days due to the accessibility to the internet and devices like laptops, tablets, and smartphones. Thus in a scenario like this, it becomes vital that the data is safeguarded and kept secure from malicious and unlawful sources who may attempt to exploit sensitive information. Many organizations these days are turning to several cloud service suppliers to resolve different challenges, and the novel risks and additional responsibilities that come with key management as a service.
The delayed manner of adoption by organizations of the proper privacy, security, and compliance measures to ensure its maximum benefits may leave them exposed to the threat of a cyber-attack. The companies offering solutions for key management as a service market are pooling in their efficiencies to ensure a better degree of success in the market space. Utimaco GmbH, a German cybersecurity firm recently announced it had purchased Geobridge Corporation, a cryptographic key management firm for an anonymous value.
Market Research Future (MRFR) study has covered the following countries in the regional analysis of key management as a service market: the US, Canada, and Mexico in North America. Germany, the UK, France, Spain, Norway, Benelux, and Italy in Europe. China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines in Asia-Pacific. Saudi Arabia, Israel, Turkey, and South Africa in the Middle East & Africa. Brazil, Peru, Chile, and Argentina in South America.
North America currently dominates the global key management as a service market. The region is an early adopter of technology and also holds the presence of a majority of key KMaaS providers. The US, among all the countries, accounts for the largest market share owing to highly skilled expertise and research and development capabilities, aiming at developing solutions and services for enhanced information security has propelled the market growth of key management as a service in the country.
Europe is following North America in terms of market share in the global key management as a service market. Increasing adoption of key management solutions among enterprises of various industry vertical to maintain stringent data regulations is driving the market growth in the region. Asia-Pacific is projected to be the fastest-growing region during the forecast period. Government initiatives supporting digitalization and increasing adoption of cloud platforms by enterprises has elevated the demand for KMaaS in the region.
The global key management as a service market in the Middle East & Africa and South America has also expected to grow at a considerable rate during the forecast period due to the rising adoption of KMaaS by SMEs as well as large enterprises to safeguard sensitive information.
The global key management as a service market has been segmented on the basis of component, application, organization size, vertical, and region.
By component, the market has been segmented into solution and services. By services, the market has been further segmented into managed and professional services.
By application, the market has been segmented into disk encryption, file encryption, database encryption, communication encryption, and cloud encryption.
By organization size, the market has been segmented into small and medium-sized enterprises and large enterprises.
By vertical, the market has been categorized into BFSI, healthcare, IT and telecommunication, government, retail, manufacturing, and aerospace and defense among others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
The key management as a service market is expected to be a growing market in the coming years owing to the presence of numerous large players active in the regional market. IBM Corporation (US), Amazon Web Services (US), Thales eSecurity (France), Oracle Corporation (US), Equinix, Inc. (US), Alibaba (China), Egnyte (US), Ciphercloud (US), Google (US), Keynexus (US), Sepior ApS (Denmark), Unbound Tech (Israel), and Box (US) are the companies leading the key management as a service market globally.
More Information : https://www.marketresearchfuture.com/reports/key-management-service-market-8188
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