The widespread use of social media, mobile devices, and virtual storage by businesses and individuals has generated enormous amounts of data that are prone to loss. Such private information is kept in databases and kept in physical or virtual storage at data centres. Companies also keep these datasets in a variety of heterogeneous environments, from corporate networks to different kinds of clouds. However, with the increase in cyber attacks, this huge and sensitive data is exposed to loss and breaches. Therefore, regardless of the heterogeneous environment, this encourages enterprises to employ reliable database encryption software that enables multilevel encryption. According to estimates, small and medium-sized organisations would use cloud-based databases most widely, opening up new opportunities and creating opportunities for growth.
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Based on type, deployment model, and verticals, the global database encryption market is studied. The market is divided into database operational models and various forms of database encryption based on type. Database operational models are further divided into data in motion and data in rest. Key management, column-level encryption, file system encryption, application-level encryption, and transparent or external database encryption are further categories for database encryption. Additionally, the market is divided into public cloud deployment, private cloud deployment, and hybrid cloud deployment based on the deployment model. The market is divided into BFSI, Healthcare, IT and Telecommunication, Government, Retail and E-commerce, Aerospace and Defense, and others based on the verticals.
During the forecast period, the database encryption market is expected to grow significantly at a CAGR of 30.1 percent. When plain text is transformed into a particular algorithm and stored in a database, the process is known as database encryption. Many different algorithms can be used for encryption. The market for database encryption is being propelled by rising interest in cloud-based encryption tools; the safety of data storage; and the suppression of data theft and data piracy. The market leaders’ ongoing rise in R&D spending to broaden their applications in developing industries is also expected to raise global consumption. The market’s expansion is, however, being constrained by issues including the high price of encryption solutions and a dearth of adequate key management.
Major providers of database encryption systems with these features include IBM, Symantec Corporation, HP, Microsoft Corporation, Sophos, Vormetric, McAfee (Intel Security), and Net App. Market Research and Analysis Various approaches are used in the research report’s analysis and study of the Database Encryption market in order to offer accurate and comprehensive market data. In order to cover all facets of the market, it is divided into many divisions for easier comprehension. The reader is then give further details on each topic to better understand its growth prospects and contribution to the worldwide market.
The researchers used primary and secondary research techniques to gather the data for the report. The present market scenario was likewise created using the same data. The goal of this research is to direct readers toward a cautious, improved, and clearer understanding of the market. The database encryption market is expected to grow at a CAGR of 23.9 percent from 2021 to 2026, from USD 750.4 million in 2020 to USD 271.7 million in 2026.
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Beginning in 2021, the COVID-19 illness spread around the globe, affecting countless people in general, and major governments all over the world issued orders for work stoppages and foot restrictions. The majority of undertakings have been greatly impacted, and database encryption adventures have been badly impacted, with the exception of the medical supply and life support equipment companies.
Overall, the study demonstrates that businesses can use it to their advantage to obtain a competitive edge over rivals and guarantee long-term success in the worldwide database encryption market. With the aid of reliable sources, all of the report’s conclusions, facts, and information have been verified and confirmed. The report’s analysts used a distinct and superior research and analysis methodology for the global database encryption market.