Database Encryption Market Size Forecast to Reach $3,445 Million by 2025

Database Encryption Market size is forecast to reach $3,445 million by 2025, estimated to grow at a CAGR of 25.5% during 2020-2025. The use of comprehensive mobile devices and the need for technology in several organizations are fueling the demand for database encryption. In addition, the growing usage of database encryption for applications including communication encryption, disk encryption, cloud encryption, file and folder encryption and others are tremendously boosting the database encryption market size during the forecast period 2020-2025. Key Takeaways In 2019, the Database Encryption market was dominated by North American region owing to the presence of prominent players such as IBM, Microsoft and so on in the US and Canada. The increasing data volume storage has led to the need for multi-cloud environment which is thus enhancing the demand for the cloud-based security solutions that protects the data from thieves and hackers. The rising demand for physical-based security such as blockchain-based, quantum-computer-based, honey encryption, IoT product security and others for encryption are enhancing the database encryption market. The rising political issues is leading to offer complex relationship to government and politics are hampering the growth of the market. End-user - Segment Analysis Government segment held the largest market share in the Database Encryption market in 2019. The rising utilization of DB encryption solution by government entities and enterprises are highly enhancing the growth of the market. Also, the rising use of technology has made government sector an IT crowd which is leading to the adoption of database encryption. In addition, the regulations and compliance requirements such as health insurance portability and accountability (HIPAA) for healthcare and payment card industry data security standard (PCI DSS) has surged the growth of the database encryption market. Geography - Segment Analysis In 2019, North America dominated the Database Encryption market with a share of more than 37.66%%, followed by Europe and APAC. The presence of most prominent players in this region such as Microsoft Corporation, IBM Corporation, Intel, SAS Institute Inc., Win Magic Inc. and EMC Corporation are fueling the growth of the market. Additionally, in the US most of the small and medium sized enterprises are integrating technology which is leading to the requirement of efficient database encryption software. Also, the development by the US-based companies in order to provide cost-effective products are enhancing the growth of the market in this region. Drivers – Database Encryption Market Growing demand for Cloud-based security As the data volume storage is increasing exponentially the demand for hybrid multi-cloud environment is also rising. Most of the organizations are facing high number of regulations to follow, due to increased exposure to data ransomware, theft and misuse. In addition, most of the regulations such as General Data Protection Regulation, highlight encryption as a means to provide technical and organizational measures. This has also led to the development of data encryption strategy which helps to keep businesses the demand for cloud-based security solution which leads to the acceleration of database encryption market. The rise of Physical-based security The deployment of encryption has become the future which has also led to the rise of physical-based security such as blockchain-based, quantum-computer-based, honey encryption, IoT product security and among others. The resurgence of keeping the private and personal information off of the computers in the organization is enhancing the demand for the database encryption market. Moreover, the use of hardware wallets for cryptocurrencies and the need to determine the data thieves are also surging the growth of the market. Challenges – Database Encryption Market Rising Political Issues The technology industry is growing at a fast pace which is leading to the formation of complex relationship to government and politics. This is also majorly affecting three areas such as privacy and surveillance, censorship, general economic regulation and other competition management. The big tech companies are therefore unable to comply with the laws and regulations and fail to decrypt particular kinds of data. This majorly hinders the adoption of database encryption by big-tech companies. Market Landscape Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Database Encryption market. In 2019, the market of Database Encryption has been consolidated by the major players – IBM Corporation, Post-Quantum, Engimedia, Penta Security Systems, Symantec Corporation, Netapp, Inc., Microsoft Corporation, Hewlett-Packard Company, Oracle Corporation, Intel Security (Mcafee) and among others. Acquisitions/Technology Launches In November 2019, Penta Security Systems announced that the company has been nominated as a finalist for SC Magazine Awards for 2020 honored in the U.S, presented by SC Media. This has led to the recognition of Penta Security’s MyDiamo as the Best Database Security Solution of the year 2020. This will also lead to the expansion of common-level encryption, and provide enhanced installation process for open-source DBMS.