PUBLISHER: Grand View Research | PRODUCT CODE: 1813874
PUBLISHER: Grand View Research | PRODUCT CODE: 1813874
The global Encryption as a Service market size was estimated at USD 1.79 billion in 2024 and is projected to reach USD 12.78 billion by 2033, growing at a CAGR of 24.7% from 2025 to 2033. The market growth is driven by the increasing demand for scalable, cloud-native encryption platforms that enable secure data exchange, regulatory compliance, and zero-trust security across distributed digital ecosystems.
Organizations across verticals such as BFSI, IT & telecom, healthcare, and manufacturing are increasingly adopting modular EaaS platforms over traditional encryption toolkits to enable agile deployment, flexible pricing, and real-time scalability. This shift is driven by growing demand for encryption-as-a-utility models that support Bring Your Own Key (BYOK), Customer Managed Key (CMK), and multi-tenant encryption capabilities in SaaS and IaaS environments. Cloud-first enterprises are also moving toward containerized encryption agents and FIPS 140-2 validated modules that can be embedded directly into Kubernetes clusters and serverless workloads. This shift is further accelerated by the surge in cross-border cloud adoption and the need for granular data residency controls across geographies.
Global Encryption As A Service (EaaS) Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Encryption as a Service (EaaS) market report based on component, deployment mode, enterprise size, application, end use, and region.