The increase in focus of enterprises on growing their operational efficiency and the migration of many companies toward cloud-based services are the major factors that drive the growth of the Key Management as a Service (KMaaS) market. In addition, the adoption of new technologies by different SMEs and mandates to meet stringent regulations fuels the growth of the Key Management as a Service market.
However, lack of budget, skilled professionals, and awareness among enterprises is the major factor that restrains the market growth. Furthermore, increasing demand for integrated key management software by enterprises and large-scale adoption of KMaaS software in BFSI vertical is anticipated to create major opportunities in the market.
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The global Key Management as a Service market is segmented on the basis of component, application, industry vertical, and region. In terms of component, it is segmented into solution and services. By application, it is bifurcated into communication encryption, disk encryption, file/folder encryption, database encryption, and cloud encryption.
As per organization size, it is bifurcated into large enterprises and small & medium enterprises. As per industry vertical, it is categorized into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, education, healthcare and others. On the basis of region, the KMaaS market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the Key Management as a Service market analysis are IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, Google (Alphabet Inc.), Gemalto NV, Ciphercloud.com, Thales eSecurity, Egnyte Inc., Sepior ApS, and Unbound Tech.
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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market size along with the current trends & future estimations to elucidate the imminent investment pockets.
- Information about the key drivers, restraints, and opportunities and their impact analysis on the KMaaS market share is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Key Management as a Service industry.
- The quantitative analysis of the market is provided to determine the Key Management as a Service market potential.
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