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Jan. 27, 2021, 8:07 a.m. EST

Key management as a service Market Share 2021 | Explosive Factors of Revenue by Manufacturing Size, Share, Future Trends, Opportunities, Industry Expansion Strategies and Global Analysis by Forecast to 2025

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Jan 27, 2021 (AmericaNewsHour) -- Kenneth Research has recently added a market research study on Key management as a service Market 2025 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market.The Global Key Management as a Service Market was valued at USD 363.54 million in 2018 and is expected to reach USD 2,296.32 Million by 2025 growing at a 31.22% CAGR during the forecast period 2019-2025.

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Key management as a service Market over the period 2019-2026. As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017.

Download Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151351

Market Synopsis

Key management as a service (KMaaS) encompass services which allow easy management of cryptographic keys for the protection of sensitive data, and credentials of enterprises across their cloud as well as on-premise infrastructure. KMaaS helps the enterprises to strengthen their key control and information security and enhance their IT efficiency while meeting the regulatory compliances with features such as strong encryption key security, multi-cloud support, and user access to key management.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Growing adoption of cloud-based platforms, increasing mandate among enterprises to meet regulatory compliances, and increasing focus of organizations to enhance their IT efficiency are the factors driving the growth of key management as a service market. The KMaaS offers centralized key management which ensures access to all the cloud providers from a single browser including multiple subscriptions and automated key rotation for enhanced data security, which helps the enterprises to increase their IT efficiency.

Download Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151351

The market also seeks opportunities from growing demand for cloud-based key management solutions which allows enterprises to protect sensitive information. However, lack of awareness about key management as a service can limit the adoption of key management solutions and services. Furthermore, the market also faces challenges owing to lack of technical expertise across organizations.

Key Players

The prominent players active in the global market of key management as a service are 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).

Global Key management as a service Market, 2018-2025 (USD Billion)

Recent Developments:

In April 2018, Thales eSecurity, a data protection and cybersecurity solutions provider, strengthened its multi-cloud bring your own encryption (BYOE) solutions to encompass major cloud storage tiers including AWS S3, Azure Files, and Google Cloud Storage. The solutions are available in the Vormetric Data Security Platform covering public cloud and private cloud providers. This allows the users to establish strong protection, control, and security across the sensitive data in the cloud.

In March 2018, Equinix, an interconnection and data center services provider, launched Equinix SmartKey, a key management and encryption Software as a Service (SaaS) offering. The service helps its users to simplify the data protection and securely host encryption keys across the cloud and on-premise infrastructure by leveraging Equinix's globally interconnected platform of more than 190 International Business Exchange data centers.

Download free Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151351

Segmentation

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.

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