Enterprise Key Management Market To Reach $9.82 Billion By 2030

Enterprise Key Management Market Growth & Trends

The global enterprise key management market size is estimated to reach USD 9.82 billion in 2030 and is projected to grow at a CAGR of 19.8% from 2024 to 2030. Increasing number of data breaches and loss of confidential data, coupled with increasingly stringent regulations and compliance standards to safeguard sensitive data from malicious users, have led to the implementation of advanced enterprise security solutions across different industries. The shift of organizations toward a digital environment for offering digital services and the need to protect increasing volumes of sensitive data are expected to drive the market.    

Enterprise key management is an essential component of data encryption solutions and involves managing and dealing with generation, exchange, storage, use, destruction, and replacement of cryptographic keys that encrypt different data sources such as emails, databases, disk drives, big data repositories, backup tapes, and data over cloud environments. The key management solutions protect cryptographic keys throughout their lifecycle and restrain unauthorized users from accessing the keys or data.

Organizations are increasingly deploying encryption solutions to protect confidential data, thus, enabling the growth of the enterprise key management market. However, issues related to a lack of skilled key management workforce and standardized key management systems are expected to challenge the industry. Furthermore, the high cost and complex deployment of key management solutions are expected to hinder the market growth.

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Enterprise Key Management Market Report Highlights

• North America is expected to be the largest market during the forecast period, owing to technological proliferation and accelerated adoption of digital services

• Increased online and mobile transactions, along with data security regulatory mandates will drive the market growth

• Increasing investments in cloud-based encryption solutions and the need to protect increasing data volume will drive the growth of the enterprise key management market

Enterprise Key Management Market Segmentation

Grand View Research has segmented the global enterprise key management market report based on deployment, enterprise size, application, end use, and region:

Enterprise Key Management Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

• Services

Enterprise Key Management Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud

• On-Premises

Enterprise Key Management Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• SMEs

• Large Enterprises

Enterprise Key Management Application Outlook (Revenue, USD Million, 2018 - 2030)

• Disk Encryption

• File and Folder Encryption

• Database Encryption

• Communication Encryption

• Cloud Encryption

Enterprise Key Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Arabia

  • UAE

  • South Africa

List of Key Players in the Enterprise Key Management Market

• Venafi, Inc.

• Thales

• Google

• IBM

• Amazon Web Services, Inc.

• Oracle

• Hewlett Packard Enterprise Development LP

• Quantum Corporation

• WinMagic

• Microsoft