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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

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Date: 06-Mar-2018
No. of pages: 118
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The increasing migration toward the cloud and the stringent regulations in the Key Management as a Service (KMaaS) market are expected to be driving the growth of the KMaaS market

The KMaaS 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 market is expected to be driven by factors, such as the increasing migration toward the cloud, the stringent regulations in the KMaaS market, and the organizations’ need to maximize their operational efficiency. However, the major hindrance that is expected to be faced by the enterprises while adopting the cloud-based key management solution are believed to be the lack of budget and lack of awareness about KMaaS, and the performance concerns among enterprises.

Cloud encryption application is expected to have the fastest growth rate during the forecast period

The cloud encryption application in the KMaaS market is expected to grow at the fastest rate during the forecast period. The major reason for the high growth rate of the cloud encryption application can be attributed to the ongoing expansive adoption of cloud among companies across the world. There are numerous advantages associated with the adoption of cloud, such as improved flexibility and scalability, faster deployments, and enhanced mobility, which encourage the adoption of the cloud. However, the risks associated with content protection and data compliance remain to be the prime impediments for embracing cloud across businesses. This encourages the adoption of cloud encryption solutions to safeguard the sensitive information from being breached.

Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market size during the forecast period

Companies in the BFSI vertical are expanding their offerings to maintain a competitive edge, save costs, and improve the customer experience with value-added services. The increasing use of mobile technology is expected to have enhanced the adoption of KMaaS solution and services in financial organizations. The financial sector uses the cloud-based KMaaS solution to control and secure mission-critical data of customers and protect the data from the internal and external risks of theft. In addition, the financial organizations need to enhance their business opportunities and make use of external networks that are unsecured. Moreover, the pressure from regulatory standards, such as Advanced Encryption Standard (AES) and Payment Card Industry Data Security Standard (PCI-DSS), has led companies in this vertical to utilize the best-in-class security solutions.

North America is expected to contribute to the largest market share, while Asia Pacific (APAC)is estimated to grow at the fastest rate during the forecast period

North America is expected to have the largest market share and dominate the KMaaS market from 2018 to 2023, owing to the early adoption of new and emerging technologies, and the presence of a large number of players in this region. APAC offers extensive growth avenues for the KMaaS market vendors, owing to the widespread presence of Small and Medium-sized Enterprises (SMEs) that are extensively adopting the low-cost cloud-based KMaaS solution to safeguard mission-critical data.

The break-up profiles of primary participants are given below:


  • By company: Tier 1–45%, Tier 2–30%, and Tier 3–25%

  • By designation: C-level–47%, D-level–31%, and Others–22%

  • By region: North America–40%, Europe–29%, APAC–18%, and RoW–13%


The following KMaaS providers have been profiled in the report:


  • Cipher Cloud (US)

  • Gemalto (Netherlands)

  • Google (US)

  • IBM (US)

  • Thales e-Security (France)

  • Box (US)

  • Egnyte (US)

  • KeyNexus (Canada)

  • Sepior (Denmark)

  • Unbound Tech (US)


Research Coverage

The KMaaS market has been segmented on the basis of components (solution and services), applications, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, solutions and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and the competitive landscape associated with the KMaaS market.

The report would help the market leaders/new entrants in this market in the following ways:


  • This report segments the KMaaS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.

  • This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

  • This report would help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes vendor comparison of the top market players in the KMaaS market.

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

Table of Contents

1 Introduction
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
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
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

4 Premium Insights
4.1 Attractive Opportunities in the Key Management as a Service Market, 2018–2023
4.2 Market Share of Top 3 Applications and Regions, 2018
4.3 Market By Service, 2018–2023
4.4 Market By Organization Size, 2018–2023
4.5 Market By Region
4.6 Market By Vertical

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Migration Toward the Cloud
5.2.1.2 Stringent Regulations in the Kmaas Market
5.2.1.3 Organizations’ Need to Maximize the 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 Among 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 Sarbanes–Oxley Act (SOX)
5.3.5 Gramm–Leach–Bliley 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
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
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
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises

9 Market By Vertical
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
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
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product Launches/Product Up gradations
11.2.2 Partnerships, Agreements, and Collaborations
11.2.3 Mergers and Acquisitions
11.2.4 Business Expansions

12 Company Profiles
12.1 Introduction
(Business Overview, Products/Services Offered, Recent Developments, SWOT Analysis & MnM View)*
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
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

Table 1 Key Management as a Service Market Size, By Component, 2016–2023 (USD Million)
Table 2 Solution: Market Size By Region, 2016–2023 (USD Million)
Table 3 Services: Market Size By Region, 2016–2023 (USD Million)
Table 4 Services: Market Size By Type, 2016–2023 (USD Million)
Table 5 Professional Services Market Size, By Type, 2016–2023 (USD Million)
Table 6 Training, Education, and Consulting Market Size, By Region, 2016–2023 (USD Million)
Table 7 Support and Maintenance Market Size, By Region, 2016–2023 (USD Million)
Table 8 Managed Services Market Size, By Region, 2016–2023 (USD Million)
Table 9 Key Management as a Service Market Size, By Application, 2016–2023 (USD Million)
Table 10 Disk Encryption: Market Size By Region, 2016–2023 (USD Million)
Table 11 File/Folder Encryption: Market Size By Region, 2016–2023 (USD Million)
Table 12 Database Encryption: Market Size By Region, 2016–2023 (USD Million)
Table 13 Communication Encryption: Market Size By Region, 2016–2023 (USD Million)
Table 14 Cloud Encryption: Market Size By Region, 2016–2023 (USD Million)
Table 15 Key Management as a Service Market Size, By Organization Size, 2016–2023 (USD Million)
Table 16 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 17 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 18 Key Management as a Service Market Size, By Vertical, 2016–2023 (USD Million)
Table 19 Banking, Financial Services, and Insurance: Market Size By Component, 2016–2023 (USD Million)
Table 20 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 21 Telecommunications and It: Market Size By Component, 2016–2023 (USD Million)
Table 22 Telecommunications and It: Market Size By Region, 2016–2023 (USD Million)
Table 23 Healthcare and Life Sciences: Market Size By Component, 2016–2023 (USD Million)
Table 24 Healthcare and Life Sciences: Market Size By Region, 2016–2023 (USD Million)
Table 25 Government and Public Utilities: Market Size By Component, 2016–2023 (USD Million)
Table 26 Government and Public Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 27 Aerospace and Defense: Market Size By Component, 2016–2023 (USD Million)
Table 28 Aerospace and Defense: Market Size By Region, 2016–2023 (USD Million)
Table 29 Retail and Consumer Goods: Market Size By Component, 2016–2023 (USD Million)
Table 30 Retail and Consumer Goods: Market Size By Region, 2016–2023 (USD Million)
Table 31 Energy and Utilities: Market Size By Component, 2016–2023 (USD Million)
Table 32 Energy and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 33 Manufacturing: Market Size By Component, 2016–2023 (USD Million)
Table 34 Manufacturing: Market Size By Region, 2016–2023 (USD Million)
Table 35 Others: Market Size By Component, 2016–2023 (USD Million)
Table 36 Others: Market Size By Region, 2016–2023 (USD Million)
Table 37 Key Management as a Service Market Size, By Region, 2016–2023 (USD Million)
Table 38 North America: Market Size By Component, 2016–2023 (USD Million)
Table 39 North America: Market Size By Service, 2016–2023 (USD Million)
Table 40 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 41 North America: Market Size By Application, 2016–2023 (USD Million)
Table 42 North America: Market Size By Vertical, 2016–2023 (USD Million)
Table 43 Europe: Key Management as a Service Market Size, By Component, 2016–2023 (USD Million)
Table 44 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 45 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 46 Europe: Market Size By Application, 2016–2023 (USD Million)
Table 47 Europe: Market Size By Vertical, 2016–2023 (USD Million)
Table 48 Asia Pacific: Market Size By Component, 2016–2023 (USD Million)
Table 49 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 50 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 51 Asia Pacific: Market Size By Application, 2016–2023 (USD Million)
Table 52 Asia Pacific: Market Size By Vertical, 2016–2023 (USD Million)
Table 53 Middle East and Africa: Key Management as a Service Market Size, By Component, 2016–2023 (USD Million)
Table 54 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 55 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 56 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 57 Middle East and Africa: Market Size By Vertical, 2016–2023 (USD Million)
Table 58 Latin America: Key Management as a Service Market Size, By Component, 2016–2023 (USD Million)
Table 59 Latin America: Market Size By Service, 2016–2023 (USD Million)
Table 60 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 61 Latin America: Market Size By Application, 2016–2023 (USD Million)
Table 62 Latin America: Market Size By Vertical, 2016–2023 (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, 2015–2018

List of Figures

Figure 1 Key Management as a Service Market Segmentation
Figure 2 Market: Research Design
Figure 3 Breakdown of Primary Interviews: 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 Have the Largest Market Share in 2018
Figure 10 Top 3 Revenue Segments of the Market
Figure 11 Need for Stringent Compliance is Expected to Boost the Market Growth
Figure 12 Disk Encryption Application and North America are Estimated to Have the Largest Market Shares in 2018
Figure 13 Professional Services Segment is Expected to Have the Larger Market Share During the Forecast Period
Figure 14 Small and Medium-Sized Enterprises Segment is Expected to Have 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 Have the Largest Market Size in 2023
Figure 17 Key Management as a Service Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Solution Segment is Expected to Have the 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 Segment is Expected to Have the 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 the Larger Market Size During the Forecast Period
Figure 23 Healthcare and Life Sciences Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 North America is Expected to Have 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, and Partnerships, Agreements, and Collaborations as the Key Growth Strategies During 2014–2017
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

 

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