Application-level Encryption Market: Anticipated To Experience Extraordinary Growth During Forecast Period 2020 - 2030
Application-level Encryption Market: Introduction
In application-level encryption, the process of data encrypting is completed by the application that is used to modify or generate the data that is to be encrypted on servers. The application-level encryption provides robust security, operational flexibility, and high performance to the systems.
Application encryption solutions deliver data protection and operational efficiency with the flexibility to handle a wide spectrum of applications - from high-volume applications and fully automated to low-volume and tightly supervised applications. The global application-level encryption market is anticipated to expand at a CAGR of 25% during the forecast period, and was valued at US$ 718.5 Mn in 2019.
The application-level encryption market is witnessing noticeable growth, owing to the growing adoption of cloud-based application-level encryption solutions globally. The increasing prominence of cloud-based application-level encryption services has led to the implementation of better encryption and data protection solutions for cloud-based application-level encryption systems across the world. Furthermore, the increasing adoption of encryption software to avoid cyber attacks and internal data breaches is also a major factor accelerating the demand for this solution globally.
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Application-level Encryption Market Drivers
Companies are adopting digitization for different business processes that help to increase efficiency. Most companies are investing in the encryption technology to provide security to confidential information and increase productivity. The application-level encryption market is majorly driven by the increasing adoption of encryption technologies among small & medium enterprises to avoid internal data breaches within an enterprise.
Providers of data encryption are integrating and providing advanced application-level encryption solutions that help to encrypt data before the read and write process on the server. New data stored on the server is in an encrypted format, thus it is difficult to breach data security to decrypt it without authorized permission. Application-level encryption solutions help in improving data accuracy in encrypted digital form, minimizes operational cost, and simplifies different data-related operational processes.
Enterprises are seeing rising adoption of advanced web-based applications and smartphone solutions to enhance the productivity of employees. Smartphone applications and web-based business applications are generating huge amount of data related to personal information, login credentials, confidential file sharing, financial records, inventory records, and other confidential business information of users. Application-level encryption software helps to store normal data from different applications and store them in encrypted structured data formats for future use.
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