Cloud Encryption Market Size

Statistics for the 2023 & 2024 Cloud Encryption market size, created by Mordor Intelligence™ Industry Reports. Cloud Encryption size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Cloud Encryption Industry

Cloud Encryption Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.94 Billion
Market Size (2029) USD 11.74 Billion
CAGR (2024 - 2029) 24.38 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Cloud Encryption Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

Cloud Encryption Market Analysis

The Cloud Encryption Market size is estimated at USD 3.94 billion in 2024, and is expected to reach USD 11.74 billion by 2029, growing at a CAGR of 24.38% during the forecast period (2024-2029).

  • Cloud computing can improve an enterprise's computing and analytics capabilities by enabling it to collate, segregate, process, and analyze significant volumes of data.
  • The proliferation of cloud adoption and virtualization and the introduction of stringent regulations to increase the adoption rate of cloud encryption solutions fuel global market growth.
  • In the last decade, data breaches increased dramatically, resulting in the need for cloud encryption. Other dynamics, like cyberattacks and malicious software, further drive the growth of the cloud encryption market.
  • Several factors can restrain the adoption of cloud encryption, including the cost of premium cloud services. However, it is important to note that cloud encryption can also provide significant benefits, such as increased security and compliance with regulatory requirements.
  • The COVID-19 pandemic led to a significant increase in the adoption of cloud services due to remote work and increased digitization of businesses. As a result, the demand for cloud encryption also increased as companies looked to secure their sensitive data stored in the cloud. Post-pandemic also, the market is growing rapidly with the increased cloud adoption in various organizations.

Cloud Encryption Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)