PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1544078
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1544078
Database Encryption
Global Database Encryption Market to Reach US$21.9 Billion by 2030
The global market for Database Encryption estimated at US$3.6 Billion in the year 2023, is expected to reach US$21.9 Billion by 2030, growing at a CAGR of 29.5% over the analysis period 2023-2030. BFSI Vertical, one of the segments analyzed in the report, is expected to record a 33.3% CAGR and reach US$8.3 Billion by the end of the analysis period. Growth in the IT & Telecom Vertical segment is estimated at 30.8% CAGR over the analysis period.
The U.S. Market is Estimated at US$1.1 Billion While China is Forecast to Grow at 28.1% CAGR
The Database Encryption market in the U.S. is estimated at US$1.1 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2030 trailing a CAGR of 28.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 26.6% and 24.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 19.7% CAGR.
Global Database Encryption Market - Key Trends and Drivers Summarized
What Is Database Encryption and Why Is It Fundamental to Data Security?
Database encryption is the process of converting data stored in a database into a secure format that cannot be read without the corresponding decryption keys. This practice is essential to protect sensitive information from unauthorized access, especially in industries where data breaches can result in significant financial losses and damage to reputation. As databases often contain personal, financial, and proprietary data, encryption helps ensure that even if unauthorized parties access the data, they cannot interpret it. This layer of security is crucial in complying with various regulatory requirements, such as GDPR, HIPAA, and PCI DSS, which mandate strict safeguards for sensitive data. Database encryption can be implemented at different levels, including the file level, column level, and application level, each providing varying degrees of security and performance impacts.
How Does Database Encryption Work and What Are Its Key Techniques?
Database encryption involves encoding data using a cryptographic key before it is written to disk. Only those with access to the decryption key can read the data, providing a strong layer of security against data breaches. The effectiveness of encryption largely depends on the algorithms and key management practices in place. Common encryption algorithms include AES (Advanced Encryption Standard) and RSA, which are known for their robustness and difficulty to crack. Key management is equally important; secure key storage and access controls are critical to prevent unauthorized access to encryption keys. Best practices also recommend the use of dynamic data masking and tokenization in conjunction with encryption to enhance data security further, especially in complex databases with multiple user requirements.
What Challenges and Considerations Impact Database Encryption Implementation?
Implementing database encryption presents several challenges that organizations must carefully consider. One of the primary concerns is performance degradation. Encryption can slow down the process of data retrieval and storage because it requires additional processing. This impact needs to be balanced against the security benefits, especially for high-transaction databases. Another challenge is the complexity of managing encryption keys. Poor key management practices can lead to data loss if keys are lost or compromised. Additionally, integrating encryption into existing databases may require significant changes to database architecture and applications, potentially leading to downtime and increased costs. Compliance and regulatory requirements also guide how encryption should be implemented, making it imperative for organizations to stay informed about changes in data protection laws and standards.
What Drives the Growth in the Database Encryption Market?
The growth in the database encryption market is driven by several factors, beginning with the increasing volume of data generated by businesses and the rising prevalence of cyber threats. As organizations accumulate vast amounts of sensitive data, the need to protect this data from breaches and comply with tightening regulations has never been more critical. The expansion of cloud computing has also contributed to the growth of the market, as more data is stored off-premises and the need for robust encryption solutions becomes essential to secure data in transit and at rest. Moreover, consumer awareness and concern over personal data privacy have pressured companies to adopt stronger data protection measures, including encryption. Additionally, advancements in technology that mitigate the performance impacts of encryption and improve ease of implementation are making database encryption more accessible and appealing to a broader range of industries and enterprises. These technological, regulatory, and market dynamics ensure continued investment and innovation in the field of database encryption, highlighting its crucial role in comprehensive data security strategies.
Select Competitors (Total 42 Featured) -
- Gemalto NV
- Intel Security Group - McAfee, Inc.
- Microsoft Corporation
- NetApp, Inc.
- Oracle Corporation
- Sophos Ltd.
- Symantec Corporation
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Database Encryption - Global Key Competitors Percentage Market Share in 2024 (E)
- Global Economic Update
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Growing Threats of Cyberattacks and Data Breaches Enhance Need for Encryption
- Expansion of Cloud Computing Spurs Adoption of Encryption in Cloud-Based Databases
- Integration of Advanced Cryptography Techniques Propels Database Encryption Technologies
- Rising Importance of Data Privacy in Consumer-Facing Industries Strengthens Market for Database Encryption
- Technological Innovations in Encryption Key Management Enhance Security Measures
- Adoption of Database Encryption in Financial Services to Secure Transaction Data
- Increasing Use of Mobile and IoT Devices Spurs Need for Comprehensive Database Security
- Expansion of Digital Healthcare Drives Adoption of Encryption for Patient Data Protection
- Surge in E-commerce and Online Transactions Enhances Need for Database Encryption
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Recent Past, Current & Future Analysis for Database Encryption by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 2: World 7-Year Perspective for Database Encryption by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
- TABLE 3: World Recent Past, Current & Future Analysis for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 4: World 7-Year Perspective for BFSI by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for IT & Telecom by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 6: World 7-Year Perspective for IT & Telecom by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 7: World Recent Past, Current & Future Analysis for Aerospace & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 8: World 7-Year Perspective for Aerospace & Defense by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 9: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 10: World 7-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 11: World Recent Past, Current & Future Analysis for Government & Public Sector by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 12: World 7-Year Perspective for Government & Public Sector by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 13: World Recent Past, Current & Future Analysis for Other Verticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 14: World 7-Year Perspective for Other Verticals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 15: World Database Encryption Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
- UNITED STATES
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 16: USA Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 17: USA 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- CANADA
- TABLE 18: Canada Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 19: Canada 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- JAPAN
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 20: Japan Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 21: Japan 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- CHINA
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 22: China Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 23: China 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- EUROPE
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 24: Europe Recent Past, Current & Future Analysis for Database Encryption by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 25: Europe 7-Year Perspective for Database Encryption by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
- TABLE 26: Europe Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 27: Europe 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- FRANCE
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 28: France Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 29: France 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- GERMANY
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 30: Germany Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 31: Germany 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- ITALY
- TABLE 32: Italy Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 33: Italy 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- UNITED KINGDOM
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 34: UK Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 35: UK 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- REST OF EUROPE
- TABLE 36: Rest of Europe Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 37: Rest of Europe 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- ASIA-PACIFIC
- Database Encryption Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 38: Asia-Pacific Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 39: Asia-Pacific 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
- REST OF WORLD
- TABLE 40: Rest of World Recent Past, Current & Future Analysis for Database Encryption by Vertical - BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 41: Rest of World 7-Year Perspective for Database Encryption by Vertical - Percentage Breakdown of Value Sales for BFSI, IT & Telecom, Aerospace & Defense, Healthcare, Government & Public Sector and Other Verticals for the Years 2024 & 2030
IV. COMPETITION
