Application-level Encryption Market

Application-level Encryption Market is expected to grow at significant CAGR during the forecast period due to the increased adoption of encryption technologies among SMEs to avoid internal breaches of data within an organization.

Introduction of the Application-level Encryption Market Report

Application-level encryption (ALE) comprises the encryption of data within the application, without the dependence on at-rest encryption and/or the underlying transport. ALE is implemented in different ways to address the diverse security requirements from zero trust architectures, end-to-end encryption to field-level partial database encryption. The encryption works effectively when it is integrated with others to create defence-in-depth: with access control, intrusion detection, logging, request authentication, and prevention for data leakage.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global application-level encryption market include the increased adoption of encryption technologies among SMEs to avoid internal breaches of data within an organization. Enterprises are deploying digitization in various business processes that aids in increasing operational efficiency. Most organizations are investing in encryption technology to provide security to sensitive information and enhancing productivity. The data encryption vendors are integrating and offering advanced ALE solutions that assist in encrypting the data before reading and writing on the server. The new data stored on the server is stored in an encrypted format, so it becomes challenging to breach security for decryption without the authorized permission. ALE solutions improve the data accuracy in the encrypted digital form, driving the application-level encryption market growth. Improving the data accuracy helps in minimizing the operational cost and simplifies the various data-related operational processes. The rising adoption of encryption software to avoid cyber-attacks and internal breaches of data has steered the market demand for application-level encryption solutions.

Restraint in the Application-level Encryption Market

Factors including high initial costs are projected to hamper the global application-level encryption market growth over the forecast period.

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Deployment Type- Segment Analysis

Based on deployment mode, the cloud segment is projected to grow at the fastest growth rate over the forecast period in the global application-level encryption market. Factors such as lower cost and decreased latency are fuelling the market adoption for cloud-based application-level encryption. Most of the significant storage vendors and operating systems provide data-at-rest encryption. For instance, Amazon Web Services, Google Cloud, and Microsoft Azure offer data-at-rest encryption.

Enterprise Size – Segment Analysis

Large enterprises hold the largest market share in the global application-level encryption market based on the enterprise size. However, SMEs are projected to garner the fastest growth rate over the forecast period. The rapid growth of SMEs and various government initiatives to support small businesses are supplementing the market growth.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to hold the largest market share over the forecast period in the global application-level encryption market. The region holds a significant market share due to a prominent adoption of enhanced encryption solutions due to rising security breaches. Further, the Asia-Pacific region is projected to witness a lucrative growth rate over the forecast period because of the rising development and rapid adoption of advanced and secure solutions. The factors, including growth in urbanization, economic advancements, and increasing technological developments, are projected to strengthen the region’s application-level encryption market.

Top Market Players

Various notable players operating in the market include IBM Corporation, Symantec Corporation, McAfee LLC, Microsoft Corporation, Thales e-Security Inc., Micro Focus International plc, Sophos Group plc, Amazon Web Services, Alphabet Inc., and Prime Factors, among others. 

Key Developments:

• • In 2020, Prime Factors partnerships with nCipher Security to enhance and protect the enterprises that adopt cloud-first strategies. The alliance was aimed to provide nCipher Security’s new nShield® as a Service solution to the customers of the Prime Factors EncryptRIGHT® application-level data protection software.

Segments covered in the Report

The global application-level encryption market has been segmented on the basis of deployment type, enterprise size, end user, and key regions. Based on deployment type, the market is segmented into on-premise and cloud. Based on enterprise size, the market is segmented into SMEs and large enterprises. By end user, the market is bifurcated into BFSI, IT & telecom, healthcare, government, manufacturing, retail & E-commerce, logistics & transportation, and others. 

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Key questions answered in this research report:

• • At what pace is the global application-level encryption market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Application-level Encryption Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Application-level Encryption Market?
  • Which Deployment Type generated maximum revenues in 2019 and identifies the most promising during the forecast period?
  • What are the various Application areas of the Global Application-level Encryption Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Deployment Type, By Enterprise Size, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	IBM Corporation, Symantec Corporation, McAfee LLC, Microsoft Corporation, Thales e-Security Inc., Micro Focus International plc, Sophos Group plc, Amazon Web Services, Alphabet Inc., and Prime Factors among others., a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Application-level Encryption Market by Deployment Type

• • On-premise
  • Cloud

Global Application-level Encryption Market by Enterprise Size

• • SMEs
  • Large Enterprises

Global Application-level Encryption Market by End User

• • BFSI
  • IT & Telecom
  • Healthcare
  • Government
  • Manufacturing
  • Retail & E-commerce
  • Logistics & Transportation
  • Others

Global Application-level Encryption Market by Region

• • North America Application-level Encryption Market (Option 1: As a part of the free 25% customization)
    • North America Application-level Encryption Market by Deployment Type
    • North America Application-level Encryption Market by Enterprise Size
    • North America Application-level Encryption Market by End User
    • US Application-level Encryption Market All Up
    • Canada Application-level Encryption Market All Up
  • Europe Application-level Encryption Market (Option 2: As a part of the free 25% customization)
    • Europe Application-level Encryption Market by Deployment Type
    • Europe Application-level Encryption Market by Enterprise Size
    • Europe Application-level Encryption Market by End User
    • UK Application-level Encryption Market All Up
    • Germany Application-level Encryption Market All Up
    • France Application-level Encryption Market All Up
    • Spain Application-level Encryption Market All Up
    • Rest of Europe Application-level Encryption Market All Up
  • Asia-Pacific Application-level Encryption Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Application-level Encryption Market by Deployment Type
    • Asia-Pacific Application-level Encryption Market by Enterprise Size
    • Asia-Pacific Application-level Encryption Market by End User
    • China Application-level Encryption Market All Up
    • India Application-level Encryption Market All Up
    • Japan Application-level Encryption Market All Up
    • Rest of APAC Application-level Encryption Market All Up
  • RoW Application-level Encryption Market (Option 4: As a part of the free 25% customization)
    • RoW Application-level Encryption Market by Deployment Type
    • RoW Application-level Encryption Market by Enterprise Size
    • RoW Application-level Encryption Market by End User
    • Brazil Application-level Encryption Market All Up
    • South Africa Application-level Encryption Market All Up
    • Saudi Arabia Application-level Encryption Market All Up
    • UAE Application-level Encryption Market All Up
    • Rest of world (remaining countries of the LAMEA region) Application-level Encryption Market All Up

Major Players Operating in the Application-level Encryption Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • Symantec Corporation
  • McAfee LLC
  • Microsoft Corporation
  • Thales e-Security Inc.
  • Micro Focus International plc
  • Sophos Group plc
  • Amazon Web Services
  • Alphabet Inc.
  • Prime Factors