The global database encryption market is anticipated to grow at a significant CAGR of 30.1% during the forecast period. Database encryption technology is a set of algorithms that are used to transform the data into Cipher Text (plaintext that is unreadable by computers or humans without decryption). It is used to protect the data from third-party access. An important function of database encryption includes the prevention of data corruption, predefined restrictions, and others. Increasing incidences of data breaches and rising adoption of the cloud-based database are the primary factors that are driving the growth of the market. Additionally, growing compliance regulation, increasing mobility and virtualization and the availability of encryption software in the market are also estimated to be one of the major factors that are fuelling the growth of the market. However, restriction of crypto software and management of encryption keys is estimated to be the major constraints in the growth of the market. Except for these restraints, the database encryption market is yet to explore its full potential. Increasing demand for cloud-based encryption services is estimated to develop numerous growth opportunities during the forecast period.

Impact of COVID-19 Pandemic on Global Database Encryption Market

Due to the imposed lockdown and shutdown facility requirements, the COVID-19 pandemic has had a favorable influence on database encryption companies' revenues. However, as a result of the post-pandemic surge in worldwide output, data security has emerged as a critical element and a source of pain for businesses, perhaps necessitating the usage of database encryption by end-users. The players are also investing in material development to reduce the cost of database encryption around the world and affect its utilization in the end-use market. 

Segmental Outlook 

The global database encryption market is analyzed based on the type, deployment model, and verticals. Based on the type, the market is segmented into database operational models and database encryption types. Database operational models are further segmented into data in motion and data in rest. Database encryption types are also further divided into key management, column-level encryption, file system encryption, application-level encryption, and transparent or external database encryption. Furthermore, based on the deployment model, the market is bifurcated into a public cloud deployment, private cloud deployment, and hybrid cloud deployment. Based on the verticals, the market is segmented into BFSI, Healthcare, IT and Telecommunication, Government, Retail and E-commerce, Aerospace and Defence, and others. 

Global Database Encryption Market Share by Deployment Model, 2021 (%)

The Public Cloud Segment is Expected to Hold a Prominent Share in the Global Database Encryption Market

Based on the deployment model, the market is bifurcated into a public cloud deployment, private cloud deployment, and hybrid cloud deployment. For instance, in April 2022, Akamai Technologies Inc. announced a managed database service powered by Linode with support for MySQL, PostgreSQL, Redis, and MongoDB, Linode Managed Database from Akamai simplifies database deployment, reducing risk, increasing efficiency, and reducing the complexity associated with manual management of production database clusters. Linode customers have expressed a strong need for managed databases. Following its acquisition of Linode in March of this year, Akamai's first product launch in its compute line of business is the Linode Managed Database service, confirming its ambition to establish the world's most powerful and distributed compute platform from the cloud to the edge.

Regional Outlooks

The global database encryption market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North American region is anticipated to be the fastest-growing region in the content delivery network market owing to the presence of a large number of data centers in the region and the early adoption of cloud-based services.

Global Database Encryption Market Growth, by Region 2022-2028

The Asia-Pacific Region is Anticipated to hold the Prominent Share in the Global Database Encryption Market

The Asia-Pacific region is anticipated to hold a prominent share of the database encryption market owing to the due to extensive adoption of digitalization and increasing mobility and virtualization market in the region. The increasing number of SMEs in developing countries such as India and China is also driving the growth of the market. 

Market Players Outlook

The major companies serving the global database encryption market include IBM Corp., Intel Security, Microsoft Corp., Netapp Inc., and Oracle Corp., among others. The companies are focusing on product innovations, expansions, mergers, and acquisitions, and finding a new market in their core competency to expand individual market share. For instance, in December 2020, IBM launched an experimental homomorphic data encryption environment for enterprises across the globe.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global database encryption market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.