IMARC Group, a leading market research company, has recently releases report titled “Enterprise Key Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global enterprise key management market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Enterprise Key Management Market?

The global enterprise key management market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 15.4% during 2023-2028.

What is Enterprise Key Management?

Enterprise key management (EKM) is a feature that allows an organization to encrypt sensitive data with cryptographic keys. It integrates a centralized management tool to secure the creation, access, maintenance, decryption, and destruction of cryptographic keys. It also gives more control over the data and assists in protecting the trade secrets and other sensitive information of an organization, thereby minimizing the number of skilled human resources required to manage keys. In addition, it provides numerous benefits, such as automated backups, reduced risk and cost, enhanced security, accessibility, and streamlined efficiency. As a result, EKM finds extensive applications in healthcare, retail, banking, financial services, and insurance (BFSI) industries.

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What are the growth prospects and trends in the enterprise key management industry?

The market is primarily driven by the increasing incidences of data breaches and hacking in businesses across the globe. This can be attributed to the rising digitization that makes data more accessible and vulnerable to theft and hacking.

In addition, the governments of numerous countries are developing national cybersecurity defense strategies to combat risks encountered by their citizens, businesses, and critical infrastructure, which is contributing to market growth. Moreover, the widespread adoption of EKM solutions by various organizations to improve the overall efficiency of their security procedures represents another major growth-inducing factor.

Furthermore, the growing information technology (IT) sector and the rapid expansion of small and medium-sized enterprises (SMEs) are also creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

·  Solutions

·  Services

Breakup by Deployment Mode:

·  On-premises

·  Cloud-based

Breakup by Enterprise Size:

·  Small and Medium-sized Enterprises

·  Large Enterprises

Breakup by Application:

·  Disk Encryption

·  File and Folder Encryption

·  Database Encryption

·  Communication Encryption

·  Cloud Encryption

Breakup by End Use Industry:

·  BFSI

·  Healthcare

·  Retail

·  IT and Telecom

·  Government and Defense

·  Others

 Breakup by Region:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Amazon Web Services Inc. (Amazon.com Inc.), Box Inc., Broadcom Inc., Dell Technologies Inc., Google LLC, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Thales Group, Townsend Security, Unbound Security and WinMagic Inc.

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