Cloud Encryption Software Market - Growth, Trends, and Forecast (2020 - 2025)

The Cloud Encryption Software Market was valued at USD 8.16 billion in 2019 and is expected to reach USD 64.82 billion by 2025, at a CAGR of 40% over the forecast period 2020 - 2025. With the rapid increase of cloud adoption and virtualization, and with the stringent regulations helping to increase the adoption of cloud encryption solutions are some of the factors that are boosting the market growth across the globe.

• Traditionally, it was a lot easier to protect the data. There were security features available in the market for protecting and securing the data. The data came in from IT-approved, enterprise-controlled devices, and applications and was stored in the servers. It was protected by walling off the outsiders and trusting the insiders.
• But in today's times, there is a drastic change in how things happen. Now, more data than ever is collected from more applications, users, devices, and connected hardware. New business models demand easy access from the outside. Moreover, with the emergence of the cloud, a firm's data may not even be on the inside anymore, also, the insiders now include third-party cloud providers who are not even the part of your organization, which is the primary factor for the adoption of encryption solution thus, driving the market.
• Cloud encryption is a service offered by cloud storage providers whereby data is transformed using different encryption algorithms and is then placed on a storage cloud. Encryption use has risen sharply in the past few years and is deployed in a multitude of ways, from encrypting data in databases and file systems to data being transferred over public and internal networks.