Database Encryption Market - Forecast(2024 - 2030)

Database Encryption Market Overview

Database The size of the market for Database Encryption is expected to reach $38.73 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 16.3%. Database encryption technology is based on algorithms that is used to transform the data in cipher text, which is used to protect the data from accessing by third party. Transparent data encryption technology is asymmetric key secured encryption method used to encrypt data and log files. TDE encrypts SQL server Azure SQL Database, and Azure SQL Data warehouse files, known as encrypting data at rest. This technology is employed by Microsoft, IBM and oracle, to deal with the most critical to those threats to which data is vulnerable. With the rise in cyber threats and data breaches, organizations are increasingly prioritizing data security measures. Database encryption serves as a crucial safeguard against unauthorized access and data theft. The growing awareness about the importance of protecting sensitive information, such as customer data and intellectual property, is driving the adoption of database encryption solutions across various industries. Regulatory frameworks, such as GDPR, HIPAA, and PCI DSS, mandate organizations to implement robust data protection measures, including encryption, to ensure compliance and avoid hefty penalties for non-compliance. The need to adhere to these regulatory requirements is compelling organizations to invest in database encryption solutions to secure their data assets and demonstrate compliance with data protection regulations.

The report: “Database Encryption Market Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Customer Relationship Management (CRM) market.

By Objective: Secrecy & Authenticity

By Threats: External Threats (Hackers Breach), Internal Threats (Confidential Information), and Physical Threats (Thieves Strike)

By Encryption Method: Hashing, Symmetric Method (Transparent data encryption) and Asymmetric Method

By Type: File-System Encryption, DBMS-Level Encryption, Application-Level Encryption, Client-side Encryption and Indexing Encrypted Data

By Types of attack: Database operational model (Data-in-motion, Data-in-use and Data-at-rest), Attack comprising security (Intruder, Insider, Administrator, Passive Attack and Active Attack)

By Deployment Type: Public Cloud, Private Cloud and Hybrid Cloud

By Application: Business Application, Web-Application, DBMS users

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), South America (Brazil, Argentina and others) and RoW (Middle east and Africa)

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Key Takeaways

?? In 2023, 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.

Database Encryption Market Segment Analysis – By End-user

Government segment held the largest market share in the Database Encryption market in 2023 at 30% share. 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.

Database Encryption Market Segment Analysis – By Deployment Type

With rise in the adoption of IoT technologies and the usage of cloud database for computing in various organizations for different applications is analyzed to boost the Cloud Database Market. Moreover, the cloud databases provide the customers with improved performance, service resilience and so on, thereby enhancing the overall market demand for Cloud Database during the forecast period. The Cloud database market is driven primarily due to the rising usage of internet of things, cloud computing as well as rising use of Cloud database in banking and education. IOT data is complex, accessible by multiple users and many complex queries, both SQL and NoSQL implemented storage, and transactions need to be handled through IOT applications. Cloud database makes the data secure and reliable. Furthermore, Cloud database provides customers with data storage, automatic data backups and replication thereby boosting the adoption of Database encryption in public cloud at 29.2% CAGR during the forecast period 2024-2030

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Database Encryption Market Segment Analysis – By Geography

In 2023, North America dominated the Database Encryption market with a share of more than 42%, 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 is enhancing the growth of the market in this region.?

Database Encryption Market Drivers

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 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.

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Database Encryption Market Challenges

Rising Political Issues:-

The technology industry is growing at a fast pace which is leading to the formation of complex relationship between 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.

Database Encryption Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Database Encryption market. In 2023, 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

Developments:

?? In November 2022: ChemSpec Canada Inc., a subsidiary of Safic-Alcan Group, was selected by Lion Elastomers as its official distributor in Canada. The company will distribute Royalene EPDM, Royaledge EPDM, Royaltherm EPDM, Trilene Liquid EPDM, and others in Canada

??In October 2022: Lion Elastomers announced that Arisan Kimya San ve Tic. A.S. (Arisan Kimya) will be their official distributor for products like Royalene EPDM, RoyalEdge EPDM, RoyalTherm Silicone Modified EPDM, Trilene Liquid EPDM, Trilene FreeFlow EPDM in Turkey.

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