Key Management as a Service Market by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Database Encryption, and Cloud Encryption), Organization Size, Vertical, and Region - Global Forecast to 2023
[117 Pages Report] The Key Management as a Service market is estimated to be USD 0.31 Billion in 2017 and expected to grow at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period. The base year considered for this study is 2017, and the forecast period is 20182023.
Objectives of the Study
- To define, describe, and forecast the Key Management as a Service market on the basis of components (solution and services), applications, organization size, verticals, and regions
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
- To forecast the market size of the market segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile the key players of the market and comprehensively analyze their market size and core competencies in the market
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global market
The research methodology used to estimate and forecast the Key Management as a Service market began with capturing the data of the revenues of the key vendors through secondary sources, such as annual reports, press releases, and associations and consortiums, such as RSA Security, the SANS Institute, SC Magazine, and Cloud Security Alliance (CSA), and databases, such as Factiva, BusinessWeek, company websites, and news articles. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global KMaaS market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments. The breakdown of primary profiles has been depicted in the below figure:
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The KMaaS ecosystem comprises encryption component providers, such as CipherCloud (US), Gemalto (Netherlands), Google (US), IBM (US), Thales e-Security (France), Box (US), Egnyte (US), KeyNexus (Canada), Sepior (Denmark), and Unbound Tech (US). The other stakeholders of the Key Management as a Service market include Cloud Service Providers (CSPs), cybersecurity vendors, managed security service providers, and system integrators.
Key Target Audience
- KMaaS vendors
- CSPs
- Cyber security vendors
- Defense organizations
- Government agencies
- Independent Software Vendors (ISVs)
- Consulting firms
- System integrators
- Value-added Resellers (VARs)
- Information Technology (IT) security agencies
- Managed Security Service Providers (MSSPs)
The research study answers several questions for the stakeholders, primarily which market segments to focus in the next 2 to 5 years for prioritizing the efforts and investments.
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The research report categorizes the Key Management as a Service market to forecast the revenues and analyzes the trends in each of the following submarkets:
By Component
- Solution
- Services
- Professional services
- Support and maintenance
- Training, education, and consulting
- Managed services
- Professional services
By Application
- Disk encryption
- File/folder encryption
- Database encryption
- Application-level encryption
- Database-level encryption
- Communication encryption
- Voice encryption
- Email encryption
- Instant messaging encryption
- Cloud encryption
By Organization Size
- Large enterprises
- Small and Medium-sized Enterprises (SMEs)
By Vertical
- Aerospace and defense
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utilities
- Government and Public Utilities
- Healthcare and Life Sciences
- Manufacturing
- Retail and Consumer Goods
- Telecommunications and IT
- Others (travel and hospitality, and education)
By Region
- North America
- Europe
- APAC
- MEA
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations based on the company-specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the North American market into countries contributing 75% of the regional market size
- Further breakdown of the European market into countries contributing 75% of the regional market size
- Further breakdown of the APAC market into countries contributing 75% of the regional market size
- Further breakdown of the MEA market into countries contributing 75% of the regional market size
- Further breakdown of the Latin American market into countries contributing 75% of the regional market size
Company Information
Detailed analysis and profiling of additional market players (up to 5):
The Key Management as a Service market size is expected to grow from USD 0.37 Billion in 2018 to USD 1.28 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.4%. The demand for KMaaS is likely to be driven by various factors, such as the increasing number of cyber-attacks and the stringent government regulations and compliances.
The Key Management as a Service market has been segmented on the basis of components (solution and services), applications, organization size, verticals, and regions. The services segment is expected to grow at a higher CAGR during the forecast period and the solution segment is estimated to have the larger market size in 2018 in the market. Professional services have been widely adopted by organizations, as these services involve expert training, education, and consulting, and support and maintenance for the deployed KMaaS solution. However, the managed services segment is expected to grow at a higher CAGR during the forecast period, as managed security vendors provide extensive reporting capabilities for ensuring that the internal security policies adhere to the standard regulatory compliances.
The disk encryption application is estimated to hold the largest market share in 2018. The importance of encrypting a disk is that, if the encrypted disk is lost or stolen, the encrypted state of the drive remains unchanged, and only an authorized user would be able to access its contents. The cloud encryption application is expected to grow at the fastest rate during the forecast period.
KMaaS solution and services have been deployed across various verticals, including aerospace and defense; Banking, Financial Services, and Insurance (BFSI); energy and utilities; government and public utilities; healthcare and life sciences; manufacturing; retail and consumer goods; telecommunications and IT; and others (education, and travel and hospitality). The healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. However, the BFSI vertical is estimated to have the largest market size in 2018.
The global Key Management as a Service market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue-generating region for the KMaaS vendors in 2018. This can be attributed to North American countries, the US and Canada, which have been the early adopters of advanced technologies. They also have a high focus on innovations obtained from R&D and security technologies. APAC is expected to be the fastest growing region in the market. The growth in this region is expected to be primarily driven by the increasing adoption of the cloud technology within organizations and the presence of a large number of Small and Medium-sized Enterprises (SMEs) that need a low cost KMaaS solution.
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The adoption of KMaaS solution and services is expected to rise, owing to the increasing adoption of cloud technologies among enterprises and the need to adhere to various regulatory compliances put forth by the government for the protection of mission-critical organizational data. However, the major hindrance that is expected to be faced by enterprises while adopting the KMaaS solution and services is the lack of budget for adopting the best-in-class KMaaS solution.
The major vendors offering KMaaS solution and services are CipherCloud (US), Gemalto (Netherlands), Google (US), IBM (US), Thales e-Security (France), Box (US), Egnyte (US), KeyNexus (Canada), Sepior (Denmark), and Unbound Tech (US). These players have adopted various strategies, such as new product launches; partnerships agreements, and collaborations; business expansion; and mergers and acquisitions, to strengthen their foothold in the global Key Management as a Service market.
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Profiles of Primary Participants
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions and Limitations
2.3.1 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Opportunities in the Key Management as a Service Market, 20182023
4.2 Key Management as a Service Market, Market Share of Top 3 Applications and Regions, 2018
4.3 Market By Service, 20182023
4.4 Market By Organization Size, 20182023
4.5 Market By Region
4.6 Market By Vertical
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Migration Toward the Cloud
5.2.1.2 Mandates to Meet Stringent Regulations
5.2.1.3 Organizations Growing Focus on Enhancing Operational Efficiency
5.2.2 Restraints
5.2.2.1 Lack of Budget for Adopting the Best-In-Class Kmaas Solutions
5.2.2.2 Lack of Awareness About Kmaas and Performance Concerns Among Enterprises
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Integrated, Cloud-Based Key Management Solutions Among SMEs
5.2.3.2 Large-Scale Adoption of Kmaas Solutions in the BFSI Vertical
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce in Various Enterprises
5.3 Regulatory Implications
5.3.1 Payment Card Industry Data Security Standard (PCI DSS)
5.3.2 Health Insurance Portability and Accountability Act (HIPAA)
5.3.3 Federal Information Security Management Act (FISMA)
5.3.4 SarbanesOxley Act (SOX)
5.3.5 GrammLeachBliley Act (GLBA)
5.3.6 Federal Information Processing Standards (FIPS)
5.3.7 General Data Protection Regulation (GDPr)
6 Key Management as a Service Market, By Component (Page No. - 38)
6.1 Introduction
6.2 Solution
6.3 Services
6.3.1 Professional Services
6.3.1.1 Training, Education, and Consulting
6.3.1.2 Support and Maintenance
6.3.2 Managed Services
7 Key Management as a Service Market, By Application (Page No. - 46)
7.1 Introduction
7.2 Disk Encryption
7.3 File/Folder Encryption
7.4 Database Encryption
7.4.1 Application-Level Encryption
7.4.2 Database-Level Encryption
7.5 Communication Encryption
7.5.1 Voice Encryption
7.5.2 Email Encryption
7.5.3 Instant Messaging Encryption
7.6 Cloud Encryption
8 Market By Organization Size (Page No. - 53)
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Key Management as a Service Market, By Vertical (Page No. - 57)
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Telecommunications and IT
9.4 Healthcare and Life Sciences
9.5 Government and Public Utilities
9.6 Aerospace and Defense
9.7 Retail and Consumer Goods
9.8 Energy and Utilities
9.9 Manufacturing
9.10 Others
10 Key Management as a Service Market, By Region (Page No. - 69)
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape (Page No. - 85)
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product Launches/Product Upgradations
11.2.2 Partnerships, Agreements, and Collaborations
11.2.3 Mergers and Acquisitions
11.2.4 Business Expansions
12 Company Profiles (Page No. - 89)
(Business Overview, Products/Services Offered, Recent Developments, SWOT Analysis & MnM View)*
12.1 Introduction
12.2 Ciphercloud
12.3 Gemalto
12.4 Google
12.5 IBM
12.6 Thales E-Security
12.7 Box
12.8 Egnyte
12.9 Keynexus
12.10 Sepior
12.11 Unbound Tech
*Details on Business Overview, Products/Services Offered, Recent Developments, SWOT Analysis & MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 110)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (66 Tables)
Table 1 Key Management as a Service Market Size, By Component, 20162023 (USD Million)
Table 2 Solution: Market Size, By Region, 20162023 (USD Million)
Table 3 Services: Market Size, By Region, 20162023 (USD Million)
Table 4 Services: Market Size, By Type, 20162023 (USD Million)
Table 5 Professional Services Market Size, By Type, 20162023 (USD Million)
Table 6 Training, Education, and Consulting Market Size, By Region, 20162023 (USD Million)
Table 7 Support and Maintenance Market Size, By Region, 20162023 (USD Million)
Table 8 Managed Services Market Size, By Region, 20162023 (USD Million)
Table 9 Market Size, By Application, 20162023 (USD Million)
Table 10 Disk Encryption: Market Size, By Region, 20162023 (USD Million)
Table 11 File/Folder Encryption: Market Size, By Region, 20162023 (USD Million)
Table 12 Database Encryption: Market Size, By Region, 20162023 (USD Million)
Table 13 Communication Encryption: Market Size, By Region, 20162023 (USD Million)
Table 14 Cloud Encryption: Market Size, By Region, 20162023 (USD Million)
Table 15 Key Management as a Service Market Size, By Organization Size, 20162023 (USD Million)
Table 16 Large Enterprises: Market Size, By Region, 20162023 (USD Million)
Table 17 Small and Medium-Sized Enterprises: Market Size, By Region, 20162023 (USD Million)
Table 18 Market Size, By Vertical, 20162023 (USD Million)
Table 19 Banking, Financial Services, and Insurance: Market Size, By Component, 20162023 (USD Million)
Table 20 Banking, Financial Services, and Insurance: Market Size, By Region, 20162023 (USD Million)
Table 21 Telecommunications and IT: Market Size, By Component, 20162023 (USD Million)
Table 22 Telecommunications and IT: Market Size, By Region, 20162023 (USD Million)
Table 23 Healthcare and Life Sciences: Market Size, By Component, 20162023 (USD Million)
Table 24 Healthcare and Life Sciences: Market Size, By Region, 20162023 (USD Million)
Table 25 Government and Public Utilities: Market Size, By Component, 20162023 (USD Million)
Table 26 Government and Public Utilities: Market Size, By Region, 20162023 (USD Million)
Table 27 Aerospace and Defense: Key Management as a Service Market Size, By Component, 20162023 (USD Million)
Table 28 Aerospace and Defense: Market Size, By Region, 20162023 (USD Million)
Table 29 Retail and Consumer Goods: Market Size, By Component, 20162023 (USD Million)
Table 30 Retail and Consumer Goods: Market Size, By Region, 20162023 (USD Million)
Table 31 Energy and Utilities: Market Size, By Component, 20162023 (USD Million)
Table 32 Energy and Utilities: Market Size, By Region, 20162023 (USD Million)
Table 33 Manufacturing: Market Size, By Component, 20162023 (USD Million)
Table 34 Manufacturing: Market Size, By Region, 20162023 (USD Million)
Table 35 Others: Market Size, By Component, 20162023 (USD Million)
Table 36 Others: Market Size, By Region, 20162023 (USD Million)
Table 37 Key Management as a Service Market Size, By Region, 20162023 (USD Million)
Table 38 North America: Market Size, By Component, 20162023 (USD Million)
Table 39 North America: Market Size, By Service, 20162023 (USD Million)
Table 40 North America: Market Size, By Professional Service, 20162023 (USD Million)
Table 41 North America: Market Size, By Application, 20162023 (USD Million)
Table 42 North America: Market Size, By Vertical, 20162023 (USD Million)
Table 43 Europe: Market Size, By Component, 20162023 (USD Million)
Table 44 Europe: Market Size, By Service, 20162023 (USD Million)
Table 45 Europe: Market Size, By Professional Service, 20162023 (USD Million)
Table 46 Europe: Market Size, By Application, 20162023 (USD Million)
Table 47 Europe: Market Size, By Vertical, 20162023 (USD Million)
Table 48 Asia Pacific: Key Management as a Service Market Size, By Component, 20162023 (USD Million)
Table 49 Asia Pacific: Market Size, By Service, 20162023 (USD Million)
Table 50 Asia Pacific: Market Size, By Professional Service, 20162023 (USD Million)
Table 51 Asia Pacific: Market Size, By Application, 20162023 (USD Million)
Table 52 Asia Pacific: Market Size, By Vertical, 20162023 (USD Million)
Table 53 Middle East and Africa: Market Size, By Component, 20162023 (USD Million)
Table 54 Middle East and Africa: Market Size, By Service, 20162023 (USD Million)
Table 55 Middle East and Africa: Market Size, By Professional Service, 20162023 (USD Million)
Table 56 Middle East and Africa: Market Size, By Application, 20162023 (USD Million)
Table 57 Middle East and Africa: Market Size, By Vertical, 20162023 (USD Million)
Table 58 Latin America: Key Management as a Service Market Size, By Component, 20162023 (USD Million)
Table 59 Latin America: Market Size, By Service, 20162023 (USD Million)
Table 60 Latin America: Market Size, By Professional Service, 20162023 (USD Million)
Table 61 Latin America: Market Size, By Application, 20162023 (USD Million)
Table 62 Latin America: Market Size, By Vertical, 20162023 (USD Million)
Table 63 New Product Launches/Product Upgradations, 2017
Table 64 Partnerships, Agreements, and Collaborations, 2017
Table 65 Mergers and Acquisitions, 2014
Table 66 Business Expansions, 20152018
List of Figures (38 Figures)
Figure 1 Key Management as a Service Market: Market Segmentation
Figure 2 Market: Research Design
Figure 3 Breakup of Profiles of Primary Participants: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Key Management as a Service: Assumptions
Figure 8 Key Management as a Service Market Size, By Component, 2018 vs 2023 (USD Million)
Figure 9 North America is Estimated to Account for the Highest Market Share in 2018
Figure 10 Top 3 Revenue Segments of the Market
Figure 11 Increasing Focus on Meeting Stringent Compliance Requirements is Expected to Boost the Market Growth
Figure 12 Disk Encryption Application and North America are Estimated to Have the Highest Market Shares in 2018
Figure 13 Professional Services Segment is Expected to Have A Higher Market Share During the Forecast Period
Figure 14 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 15 Asia Pacific is Expected to Emerge as the Best Market for Investments During the Forecast Period
Figure 16 Banking, Financial Services, and Insurance Vertical is Projected to Hold the Largest Market Size By 2023
Figure 17 Key Management as a Service Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Solution Segment is Expected to Hold A Larger Market Size During the Forecast Period
Figure 19 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Support and Maintenance Services Segment is Expected to Hold A Larger Market Size During the Forecast Period
Figure 21 Cloud Encryption Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Large Enterprises Segment is Expected to Hold A Larger Market Size During the Forecast Period
Figure 23 Banking, Financial Services, and Insurance (BFSI) Vertical is Expected to Hold at the Largest Market Size During the Forecast Period
Figure 24 North America is Expected to Hold the Largest Market Size During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Companies Adopted New Product Launches, Partnerships, Agreements, and Collaborations as Key Growth Strategies During 20142017
Figure 28 Geographic Revenue Mix of Top Market Players
Figure 29 Ciphercloud: SWOT Analysis
Figure 30 Gemalto: Company Snapshot
Figure 31 Gemalto: SWOT Analysis
Figure 32 Google: Company Snapshot
Figure 33 Google: SWOT Analysis
Figure 34 IBM: Company Snapshot
Figure 35 IBM: SWOT Analysis
Figure 36 Thales E-Security: Company Snapshot
Figure 37 Thales E-Security: SWOT Analysis
Figure 38 Box: Company Snapshot
Growth opportunities and latent adjacency in Key Management as a Service Market