The global Cloud Data Encryption Solutions Market is forecast to reach USD 4.61 Billion by 2026, according to a new report by Reports and Data. Cloud Data Encryption Solutions is provided by the cloud service vendors. This encryption allows for secure data computation and also ensures the protection of data from hacking as well as preventing scenarios of data theft. The encryption method safeguards the data by muddling the content of a system or a database. Thus, the files or data is inaccessible with the decryption key. The increasing cloud traffic, as well as the high demand for protecting sensitive information from data breaches and unauthorized access from third-party initiatives are driving the growth of the Cloud Data Encryption Solutions market.

The market for Cloud Data Encryption Solutions is influenced by the rising demand from data hogging multi-national companies which dwell mostly on cloud computing. Encryption ensures the protection of these sentient data for the safeguarding of company privacy.

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Further key findings from the report suggest

• Among component types, the service segment is expected to experience the highest CAGR of 23.9% during the forecast period. The constant adoption for cloud services by different end users ensure the increase in demand for this segment.
• Software-as-a-Service is expected to develop with the highest CAGR of 23.8% in the services segment. This is the application of making software available to consumers over the internet. Encryption here is highly required owing to the increase in demand of similar services as well as the necessity of protecting the data which is being utilized.
• The market share for the public segment from among the deployment types is seen to be the highest at 36.0% in the year 2018. This is mainly because of the high utility of public domain cloud services from vendors, which allow encryption of user data to prevent data burglary and spamming Spywares.
• Asia Pacific is estimated to experience the highest CAGR of 23.5% during the forecast period. Countries like Japan, China, and India are rapidly catching up with the growth in the cloud security services markets. The huge influx of IT firms and data monger enterprises propels the growth of the market in this region.

Key companies profiled in the report include:  

Sophos Group Plc., Thales e-Security, Gemalto N.V., Skyhigh Networks, Symantec Corporation, CipherCloud, Netskope Inc., Trend Micro Incorporated, HyTrust Inc., and Vaultive Inc., among others.

Component Type Outlook Revenue, USD Billion; 2016-2026)

• Service
• Solution

Service Type Outlook (Revenue, USD Billion; 2016-2026)

• Infrastructure-as-a-Service
• Software-as-a-Service
• Platform-as-a-Service

Deployment Outlook (Revenue, USD Billion; 2016-2026)

• Public
• Private
• Hybrid

End-Users Outlook (Revenue, USD Billion; 2016-2026)

• BFSI
• Healthcare
• Retail and Consumer goods
• IT and Telecom
• Media and Entertainment
• Travel and Hospitality
• Government
• Others

Based on Region market is segmented into:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East Africa

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