Encryption as a Service (EaaS) Market – Global Forecast To 2030
Encryption as a Service (EaaS) 시장 – 서비스 유형(Data Encryption as a Service, Key Management as a Service, Email Encryption as a Service, Application-Level Encryption as a Service), 조직 규모, 업종 및 지역별 – 2030년까지의 세계 예측
Encryption as a Service Market by Service Type (Data Encryption as a Service, Key Management as a Service, Email Encryption as a Service, Application-Level Encryption as a Service), Organization Size, Vertical, and Region – Global Forecast to 2030
| 조사회사 | MarketsandMarkets |
| 출판년월 | 2025년2월 |
| 페이지 수 | 240 |
| 도표 수 | 329 |
| 라이센스 | Single User License |
| 가격 | USD 4,950 |
| 구성 | 영문조사보고서 |
Report Overview
The global encryption as a service market size is projected to grow from USD 1.57 billion in 2024 to USD 5.98 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period.
Encryption as a Service(EaaS)의 세계 시장 규모는 예측 기간 동안 24.9%의 연평균 성장률(CAGR)로 2024년 15억 7000만 달러에서 2030년까지 59억 8000만 달러로 성장할 것으로 예측됩니다.
The market for encryption as a service is largely driven by the rise in cloud adoption and increasing demand from users to comply with data protection regulations. Organizations are shifting very fast towards the cloud environment, hence, a strong need for protecting sensitive data through advanced EaaS solutions. Major cloud providers look for integration of encryption capabilities with their cloud platforms for ease in usage.
Encryption as a Service (EaaS) 시장은 주로 클라우드 배포의 증가와 데이터 보호 규정을 준수하는 사용자의 수요 증가로 추진되고 있습니다. 조직은 클라우드 환경으로 빠르게 전환하고 있기 때문에 고급 EaaS 솔루션을 통해 기밀 데이터를 보호해야 합니다. 주요 클라우드 제공업체는 사용 편의성을 높이기 위해 암호화 기능과 자체 클라우드 플랫폼의 통합을 모색하고 있습니다.
The need to meet GDPR and AES compliance demands is further accelerating the market for EaaS. Organizations are under strict data handling practices that must include encryption, with failure leading to legal consequences as well as consumer distrust. In this context, companies face potential financial and reputational damage, and with this, there will be increased demand for encryption services.
GDPR 및 AES 규정 준수 요구 사항을 충족해야 하는 필요성으로 인해 EaaS 시장이 더욱 가속화되고 있습니다. 조직은 암호화를 포함해야 하는 엄격한 데이터 처리 관행을 따르고 있으며, 실패하면 법적 결과는 물론 소비자 불신으로 이어집니다. 이러한 맥락에서 기업은 재정적, 명예적 손해를 입을 가능성이 있으며, 이로 인해 암호화 서비스에 대한 수요가 증가할 것입니다.
“By vertical, the healthcare segment is expected to grow at the second highest CAGR during the forecast period.”
The healthcare segment in the encryption as a service market is growing rapidly, driven by the growth in sensitive patient data and demand for secure communication. As telemedicine and remote care are growing, healthcare organizations are largely concentrating on data protection to meet requirements such as those set by HIPAA. Migration to cloud-based encryption solutions means that access can be secured in a wide geographic area without risking unauthorized access to patient information. Application-level encryption is now gaining popularity in the sense that individual records are encrypted with unique keys, and this enhances security during electronic communications between providers and patients. The growing threats of cyberattacks on healthcare institutions necessitate stronger encryption measures. Incorporation of AI and ML in such solutions improves the data protection strategies. This growth reflects the changing digital threats and regulatory demands that ensure patient data is safe in a highly digital healthcare environment.
Canada is expected to grow at the highest CAGR in the North American region during the forecast period.
Canada is expected to grow at the fastest rate in the North American encryption as a service market. Due to growing concern about cybersecurity attacks, organizations embrace encryption technologies and use them more for securing confidential data. SMEs are very much in search of low-cost encryption solutions while they are adopting cloud environments, hence driving the market demand. Technological advancements particularly the integration of encryption with the IoT devices will improve the security landscape. The country has good regulatory support, technological innovation, and increased awareness of cybersecurity challenges, making it well positioned for significant growth in the EaaS market.
Breakdown of primaries
The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C-Level Executives – 45%, Directors – 35%, Managers– 20%
- By Region: North America – 35%, Europe – 30%, Asia Pacific – 25%, Middle East and Africa – 5%, Latin America – 5%
Major vendors in the global encryption as a service market include AWS (US), Cisco (US), HashiCorp (US), Google (US), Box (US), IBM (US), Microsoft (US), Utimaco (Germany), CLAI PAYMENTS (US), Retarus (Germany), Intermedia (US), Thales (France), Network Fish (UK), StorMagic (UK), Bluefin (Georgia), Cogito Group (Australia), Kloch (US), Virtru (US), Tencent Cloud (China), GarbleCloud (US), Proton (Switzerland), Fortanix (US), Akeyless (US), NordLocker (Netherlands), Piiano (Israel), and Delinea (US).
The study includes an in-depth competitive analysis of the key players in the encryption as a service market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the encryption as a service market and forecasts its size by Service Type (data encryption as a service, key management as a service, email encryption as a service, and application-level encryption as a service), Organization Size (small and medium-sized enterprises, and large enterprises), Verticals (BFSI, aerospace & defense, government & public utilities, IT & telecommunications, healthcare, retail, and others).
The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall encryption as a service market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Increase in cloud adoption, need for compliance with regulations regarding data protection, rising concerns to related to critical data loss), restraints (Limited control over data, and downtime in data accessing and processing), opportunities (Rise in IoT and BYOD adoption, and rising demand for integrated data protection solutions among SMEs), and challenges (Complexities in key management across diverse environments, difficulties in integrating encryption services with existing infrastructure, and vendor lock-in limits flexibility in EaaS adoption)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the encryption as a service market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the encryption as a service market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the encryption as a service market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in Encryption as a Service market strategies, including include AWS (US), Cisco (US), HashiCorp (US), Google (US), Box (US).
Table of Contents
1 INTRODUCTION 26
1.1 STUDY OBJECTIVES 26
1.2 MARKET DEFINITION 26
1.3 MARKET SCOPE 27
1.3.1 MARKET SEGMENTATION 27
1.3.2 INCLUSIONS & EXCLUSIONS 28
1.3.3 YEARS CONSIDERED 29
1.4 CURRENCY CONSIDERED 29
1.5 STAKEHOLDERS 30
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
2.1.1 SECONDARY DATA 32
2.1.2 PRIMARY DATA 33
2.1.2.1 Breakdown of primary profiles 33
2.1.2.2 Key insights from industry experts 34
2.2 DATA TRIANGULATION 34
2.3 MARKET SIZE ESTIMATION 35
2.3.1 TOP-DOWN APPROACH 36
2.3.2 BOTTOM-UP APPROACH 37
2.4 MARKET FORECAST 39
2.5 RESEARCH ASSUMPTIONS 39
2.6 RESEARCH LIMITATIONS 40
3 EXECUTIVE SUMMARY 41
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN ENCRYPTION AS A SERVICE MARKET 44
4.2 ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2024–2030 44
4.3 ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 45
4.4 ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2024–2030 45
4.5 MARKET INVESTMENT SCENARIO, BY REGION 46
5 MARKET OVERVIEW AND INDUSTRY TRENDS 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
5.2.1 DRIVERS 48
5.2.1.1 Increase in cloud adoption 48
5.2.1.2 Need for compliance with data protection regulations 48
5.2.1.3 Rising concerns related to critical data loss 49
5.2.2 RESTRAINTS 49
5.2.2.1 Limited control over data 49
5.2.2.2 Downtime in data accessing and processing 49
5.2.3 OPPORTUNITIES 49
5.2.3.1 Rise in IoT and BYoD adoption 49
5.2.3.2 Rising demand for integrated data protection solutions among SMEs 50
5.2.4 CHALLENGES 50
5.2.4.1 Complexities in key management across diverse environments 50
5.2.4.2 Difficulties in integrating encryption services with
existing infrastructure 50
5.2.4.3 Vendor lock-in limits flexibility in EaaS adoption 50
5.3 CASE STUDY ANALYSIS 51
5.3.1 THALES ENHANCED DATA SECURITY FOR MAJOR EUROPEAN ENERGY PROVIDER WITH ITS INTEGRATED SUITE OF SOLUTIONS 51
5.3.2 SENETAS CORPORATION HELPED SECURE CRITICAL INFRASTRUCTURE
WITH HIGH-ASSURANCE ENCRYPTION SOLUTIONS 52
5.3.3 PERCEPTION POINT HELPED GLOBAL FOOD DISTRIBUTOR ENHANCE EMAIL SECURITY AND REDUCE OVERHEAD 52
5.4 PORTER’S FIVE FORCES ANALYSIS 53
5.4.1 THREAT OF NEW ENTRANTS 54
5.4.2 THREAT OF SUBSTITUTES 54
5.4.3 BARGAINING POWER OF SUPPLIERS 54
5.4.4 BARGAINING POWER OF BUYERS 54
5.4.5 INTENSITY OF COMPETITIVE RIVALRY 54
5.5 VALUE CHAIN ANALYSIS 55
5.5.1 ENCRYPTION AS A SERVICE PROVIDERS 55
5.5.2 TECHNOLOGY PROVIDERS 55
5.5.3 INTEGRATION AND DEPLOYMENT 56
5.5.4 SALES AND DISTRIBUTION 56
5.5.5 END USERS 56
5.6 ECOSYSTEM ANALYSIS 56
5.7 PATENT ANALYSIS 57
5.7.1 LIST OF TOP PATENTS IN ENCRYPTION AS A SERVICE MARKET, 2022–2024 59
5.8 PRICING ANALYSIS 60
5.8.1 AVERAGE SELLING PRICE/PRICING MODEL OF ENCRYPTION
AS A SERVICE MARKET 60
5.8.2 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE 61
5.9 TECHNOLOGY ANALYSIS 62
5.9.1 KEY TECHNOLOGIES 62
5.9.1.1 AI/ML 62
5.9.1.2 Blockchain 62
5.9.2 COMPLEMENTARY TECHNOLOGIES 62
5.9.2.1 Zero trust 62
5.9.3 ADJACENT TECHNOLOGIES 63
5.9.3.1 Cloud computing 63
5.10 IMPACT OF GENERATIVE AI ON ENCRYPTION AS A SERVICE MARKET 63
5.10.1 TOP USE CASES & MARKET POTENTIAL 63
5.10.1.1 Key use cases 64
5.10.2 IMPACT OF GEN AI ON INTERCONNECTED AND ADJACENT ECOSYSTEM 65
5.10.2.1 Cloud computing 65
5.10.2.2 Blockchain 65
5.10.2.3 Digital signature 66
5.10.2.4 Zero trust 66
5.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 66
5.12 KEY STAKEHOLDERS & BUYING CRITERIA 67
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 67
5.12.2 BUYING CRITERIA 67
5.13 REGULATORY LANDSCAPE 68
5.13.1 ADVANCED ENCRYPTION STANDARD (AES) 68
5.13.2 GENERAL DATA PROTECTION REGULATION 68
5.13.3 GRAMM-LEACH-BLILEY ACT 69
5.13.4 FEDERAL INFORMATION SECURITY MANAGEMENT ACT 69
5.13.5 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD 69
5.13.6 SARBANES-OXLEY ACT 69
5.13.7 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT 69
5.13.8 FEDERAL INFORMATION PROCESSING STANDARDS 70
5.14 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 70
5.15 KEY CONFERENCES & EVENTS IN 2025 73
5.16 INVESTMENT AND FUNDING SCENARIO 73
6 ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE 74
6.1 INTRODUCTION 75
6.1.1 SERVICE TYPE: ENCRYPTION AS A SERVICE MARKET DRIVERS 75
6.2 DATA ENCRYPTION AS A SERVICE 76
6.2.1 SIMPLIFYING DATA SECURITY BY ELIMINATING NEED FOR EXPENSIVE CRYPTOGRAPHIC HARDWARE 76
6.3 KEY MANAGEMENT ENCRYPTION AS A SERVICE 77
6.3.1 REDUCED COMPLEXITY OF KEY MANAGEMENT AND LOWER OPERATIONAL COSTS TO FUEL MARKET GROWTH 77
6.4 EMAIL ENCRYPTION AS A SERVICE 78
6.4.1 RISING PHISHING AND RANSOMWARE ATTACKS TO DRIVE DEMAND FOR EMAIL ENCRYPTION AS A SERVICE 78
6.5 APPLICATION-LEVEL ENCRYPTION AS A SERVICE 79
6.5.1 GRANULAR CONTROL AND TARGETED PROTECTION TO SAFEGUARD DATA THROUGHOUT ITS LIFECYCLE 79
6.6 OTHER SERVICE TYPES 80
7 ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE 82
7.1 INTRODUCTION 83
7.1.1 ORGANIZATION SIZE: ENCRYPTION AS A SERVICE MARKET DRIVERS 83
7.2 LARGE ENTERPRISES 84
7.2.1 SIMPLIFIED OPERATIONS AND REDUCED ADMINISTRATIVE OVERHEAD TO ACCELERATE MARKET GROWTH 84
7.3 SMES 85
7.3.1 SCALABILITY AND FLEXIBILITY OF CLOUD-BASED ENCRYPTION
SERVICES TO DRIVE MARKET 85
8 ENCRYPTION AS A SERVICE MARKET, BY VERTICAL 87
8.1 INTRODUCTION 88
8.1.1 VERTICAL: ENCRYPTION AS A SERVICE MARKET DRIVERS 88
8.2 BFSI 89
8.2.1 EFFICIENT MANAGEMENT OF ENCRYPTION PROCESSES AND REDUCED OPERATIONAL COMPLEXITIES TO PROPEL MARKET GROWTH 89
8.3 AEROSPACE & DEFENSE 90
8.3.1 SECURE DATA HANDLING AND MITIGATION OF CYBER THREAT RISKS TO FOSTER MARKET GROWTH 90
8.4 GOVERNMENT & PUBLIC UTILITIES 91
8.4.1 STRINGENT CYBER LAWS AND COMPLIANCE REQUIREMENTS TO DRIVE ADOPTION OF ENCRYPTION SERVICES 91
8.5 IT & TELECOMMUNICATIONS 92
8.5.1 INCREASING NEED FOR SECURING VAST AMOUNTS OF PERSONAL AND SENSITIVE DATA TO BOOST MARKET 92
8.6 HEALTHCARE 93
8.6.1 INCREASING DIGITIZATION OF HEALTH RECORDS AND ADOPTION OF MOBILE HEALTH APPLICATIONS TO AID MARKET GROWTH 93
8.7 RETAIL 94
8.7.1 PROTECTING CUSTOMER DATA WITH ENCRYPTION AS A SERVICE IN RETAIL 94
8.8 OTHER VERTICALS 95
9 ENCRYPTION AS A SERVICE MARKET, BY REGION 97
9.1 INTRODUCTION 98
9.2 NORTH AMERICA 99
9.2.1 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET DRIVERS 99
9.2.2 NORTH AMERICA: MACROECONOMIC OUTLOOK 99
9.2.3 US 103
9.2.3.1 Rising need for data security and secure communication
channels to drive market 103
9.2.4 CANADA 105
9.2.4.1 Increasing cybersecurity awareness, regulatory pressures, and technological advancements to support market growth 105
9.3 EUROPE 108
9.3.1 EUROPE: ENCRYPTION AS A SERVICE MARKET DRIVERS 108
9.3.2 EUROPE: MACROECONOMIC OUTLOOK 108
9.3.3 UK 111
9.3.3.1 Growing prevalence of digital transactions and online services to intensify need for advanced encryption 111
9.3.4 GERMANY 114
9.3.4.1 Heightened data privacy concerns and strict regulatory requirements to boost market 114
9.3.5 FRANCE 116
9.3.5.1 Surging demand for reliable encryption solutions to encourage market expansion 116
9.3.6 ITALY 119
9.3.6.1 Stringent regulatory compliance requirements and cybersecurity initiatives to boost market 119
9.3.7 REST OF EUROPE 121
9.4 ASIA PACIFIC 124
9.4.1 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET DRIVERS 124
9.4.2 ASIA PACIFIC: MACROECONOMIC OUTLOOK 124
9.4.3 CHINA 128
9.4.3.1 Industry developments and evolving regulatory frameworks to
propel market growth 128
9.4.4 JAPAN 131
9.4.4.1 Rising investments in national cybersecurity strategies and proactive government initiatives to bolster market growth 131
9.4.5 INDIA 133
9.4.5.1 Surging need for strong encryption to protect personal data in centralized databases to enhance market growth 133
9.4.6 REST OF ASIA PACIFIC 135
9.5 MIDDLE EAST & AFRICA 138
9.5.1 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET DRIVERS 138
9.5.2 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK 138
9.5.3 GCC COUNTRIES 141
9.5.3.1 Increasing cybersecurity threats and government initiatives aimed at enhancing digital security to aid market growth 141
9.5.3.2 KSA 144
9.5.3.2.1 Stringent data protection regulations to drive continued investments in EaaS 144
9.5.3.3 UAE 147
9.5.3.3.1 Increasing digitalization and heightened focus on cybersecurity to accelerate market growth 147
9.5.3.4 Rest of GCC countries 149
9.5.4 SOUTH AFRICA 151
9.5.4.1 Growing integration of encryption within digital services aimed at improving urban management to foster market growth 151
9.5.5 REST OF MIDDLE EAST & AFRICA 154
9.6 LATIN AMERICA 156
9.6.1 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET DRIVERS 156
9.6.2 LATIN AMERICA: MACROECONOMIC OUTLOOK 157
9.6.3 BRAZIL 160
9.6.3.1 Government’s initiatives for enhancing cybersecurity frameworks to propel market growth 160
9.6.4 MEXICO 162
9.6.4.1 Increasing awareness regarding necessity of robust cybersecurity measures to drive market 162
9.6.5 REST OF LATIN AMERICA 164
10 COMPETITIVE LANDSCAPE 167
10.1 OVERVIEW 167
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2024 167
10.3 REVENUE ANALYSIS, 2019–2023 168
10.4 MARKET SHARE ANALYSIS, 2023 169
10.5 BRAND COMPARISON 171
10.6 COMPANY VALUATION AND FINANCIAL METRICS, 2025 172
10.6.1 COMPANY VALUATION, 2025 172
10.6.2 FINANCIAL METRICS USING EV/EBIDTA, 2025 172
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 173
10.7.1 STARS 173
10.7.2 EMERGING LEADERS 173
10.7.3 PERVASIVE PLAYERS 173
10.7.4 PARTICIPANTS 174
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 175
10.7.5.1 Company footprint 175
10.7.5.2 Regional footprint 176
10.7.5.3 Service type footprint 177
10.7.5.4 Vertical footprint 178
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 179
10.8.1 PROGRESSIVE COMPANIES 179
10.8.2 RESPONSIVE COMPANIES 179
10.8.3 DYNAMIC COMPANIES 179
10.8.4 STARTING BLOCKS 179
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 181
10.8.5.1 Detailed list of key startups/SMEs 181
10.8.5.2 Competitive benchmarking of key startups/SMEs 182
10.9 COMPETITIVE SCENARIO 183
10.9.1 PRODUCT LAUNCHES AND ENHANCEMENTS 183
10.9.2 DEALS 184
11 COMPANY PROFILES 186
11.1 KEY PLAYERS 186
11.1.1 AWS 186
11.1.1.1 Business overview 186
11.1.1.2 Products/Solutions/Services offered 187
11.1.1.3 MnM view 188
11.1.1.3.1 Key strengths 188
11.1.1.3.2 Strategic choices 188
11.1.1.3.3 Weaknesses and competitive threats 188
11.1.2 CISCO 189
11.1.2.1 Business overview 189
11.1.2.2 Products/Solutions/Services offered 190
11.1.2.3 MnM view 191
11.1.2.3.1 Key strengths 191
11.1.2.3.2 Strategic choices 191
11.1.2.3.3 Weaknesses and competitive threats 191
11.1.3 HASHICORP 192
11.1.3.1 Business overview 192
11.1.3.2 Products/Solutions/Services offered 193
11.1.3.3 Recent developments 193
11.1.3.3.1 Deals 193
11.1.3.4 MnM view 194
11.1.3.4.1 Key strengths 194
11.1.3.4.2 Strategic choices 194
11.1.3.4.3 Weaknesses and competitive threats 194
11.1.4 GOOGLE 195
11.1.4.1 Business overview 195
11.1.4.2 Products/Solutions/Services offered 196
11.1.4.3 MnM view 197
11.1.4.3.1 Key strengths 197
11.1.4.3.2 Strategic choices 197
11.1.4.3.3 Weaknesses and competitive threats 197
11.1.5 BOX 198
11.1.5.1 Business overview 198
11.1.5.2 Products/Solutions/Services offered 199
11.1.5.3 MnM view 199
11.1.5.3.1 Key strengths 199
11.1.5.3.2 Strategic choices 199
11.1.5.3.3 Weaknesses and competitive threats 199
11.1.6 IBM 200
11.1.6.1 Business overview 200
11.1.6.2 Products/Solutions/Services offered 201
11.1.7 MICROSOFT 202
11.1.7.1 Business overview 202
11.1.7.2 Products/Solutions/Services offered 203
11.1.7.3 Recent developments 204
11.1.7.3.1 Deals 204
11.1.8 UTIMACO 205
11.1.8.1 Business overview 205
11.1.8.2 Products/Solutions/Services offered 206
11.1.8.3 Recent developments 206
11.1.8.3.1 Product launches and enhancements 206
11.1.9 CLAI PAYMENTS TECHNOLOGIES 207
11.1.9.1 Business overview 207
11.1.9.2 Products/Solutions/Services offered 207
11.1.10 RETARUS 208
11.1.10.1 Business overview 208
11.1.10.2 Products/Solutions/Services offered 208
11.1.10.3 Recent developments 209
11.1.10.3.1 Product launches and enhancements 209
11.1.11 INTERMEDIA 210
11.1.11.1 Business overview 210
11.1.11.2 Products/Solutions/Services offered 210
11.1.12 THALES 211
11.1.12.1 Business overview 211
11.1.12.2 Products/Solutions/Services offered 212
11.1.12.3 Recent developments 212
11.1.12.3.1 Product launches and enhancements 212
11.1.13 NETWORK FISH 213
11.1.13.1 Business overview 213
11.1.13.2 Products/Solutions/Services offered 213
11.1.14 STORMAGIC 214
11.1.14.1 Business overview 214
11.1.14.2 Products/Solutions/Services offered 214
11.1.15 BLUEFIN 215
11.1.15.1 Business overview 215
11.1.15.2 Products/Solutions/Services offered 215
11.1.15.3 Recent developments 216
11.1.15.3.1 Deals 216
11.1.16 COGITO GROUP 217
11.1.16.1 Business overview 217
11.1.16.2 Products/Solutions/Services offered 217
11.1.17 KLOCH 218
11.1.17.1 Business overview 218
11.1.17.2 Products/Solutions/Services offered 219
11.1.18 TENCENT CLOUD 220
11.1.19 DELINEA 221
11.2 OTHER PLAYERS 222
11.2.1 VIRTRU 222
11.2.2 GARBLECLOUD 223
11.2.3 PROTON 223
11.2.4 FORTNAIX 224
11.2.5 AKEYLESS 225
11.2.6 NORDLOCKER 225
11.2.7 PIIANO 226
12 ADJACENT MARKETS 227
12.1 INTRODUCTION 227
12.2 LIMITATIONS 227
12.3 ENCRYPTION AS A SERVICE ECOSYSTEM AND ADJACENT MARKETS 227
12.4 ENCRYPTION SOFTWARE MARKET 228
12.4.1 ENCRYPTION SOFTWARE MARKET, BY COMPONENT 228
12.4.2 ENCRYPTION SOFTWARE MARKET, BY APPLICATION 228
12.4.3 ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE 229
12.4.4 ENCRYPTION SOFTWARE MARKET, BY ORGANIZATION SIZE 230
12.5 KEY MANAGEMENT AS A SERVICE MARKET 231
12.5.1 KEY MANAGEMENT AS A SERVICE MARKET, BY COMPONENT 231
12.5.2 KEY MANAGEMENT AS A SERVICE MARKET, BY APPLICATION 232
12.5.3 KEY MANAGEMENT AS A SERVICE MARKET, BY ORGANIZATION SIZE 232
12.5.4 KEY MANAGEMENT AS A SERVICE MARKET, BY VERTICAL 232
13 APPENDIX 233
13.1 DISCUSSION GUIDE 233
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 236
13.3 CUSTOMIZATION OPTIONS 238
13.4 RELATED REPORTS 238
13.5 AUTHOR DETAILS 239
LIST OF TABLES
TABLE 1 USD EXCHANGE RATES, 2020–2023 29
TABLE 2 FACTOR ANALYSIS 39
TABLE 3 ENCRYPTION AS A SERVICE MARKET SIZE AND GROWTH RATE,
2018–2023 (USD MILLION, Y-O-Y %) 41
TABLE 4 ENCRYPTION AS A SERVICE MARKET SIZE AND GROWTH RATE,
2024–2030 (USD MILLION, Y-O-Y %) 42
TABLE 5 IMPACT OF PORTER’S FIVE FORCES ON ENCRYPTION AS A SERVICE MARKET 53
TABLE 6 ROLE OF COMPANIES IN ECOSYSTEM 57
TABLE 7 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE 61
TABLE 8 ENCRYPTION AS A SERVICE MARKET: INDICATIVE PRICING MODEL,
BY SERVICE TYPE 61
TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 67
TABLE 10 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 68
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 70
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 71
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 71
TABLE 14 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 72
TABLE 15 ENCRYPTION AS A SERVICE MARKET: DETAILED LIST OF CONFERENCES & EVENTS 73
TABLE 16 ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 76
TABLE 17 ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 76
TABLE 18 DATA ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2018–2023 (USD MILLION) 77
TABLE 19 DATA ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2024–2030 (USD MILLION) 77
TABLE 20 KEY MANAGEMENT AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2018–2023 (USD MILLION) 78
TABLE 21 KEY MANAGEMENT AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2024–2030 (USD MILLION) 78
TABLE 22 EMAIL ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2018–2023 (USD MILLION) 79
TABLE 23 EMAIL ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2024–2030 (USD MILLION) 79
TABLE 24 APPLICATION-LEVEL ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET, BY REGION, 2018–2023 (USD MILLION) 80
TABLE 25 APPLICATION-LEVEL ENCRYPTION AS A SERVICE: ENCRYPTION AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION) 80
TABLE 26 OTHER SERVICE TYPES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 81
TABLE 27 OTHER SERVICE TYPES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 81
TABLE 28 ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 83
TABLE 29 ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 84
TABLE 30 LARGE ENTERPRISES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 84
TABLE 31 LARGE ENTERPRISES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 85
TABLE 32 SMES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 85
TABLE 33 SMES: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 86
TABLE 34 ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 89
TABLE 35 ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2024–2030 (USD MILLION) 89
TABLE 36 BFSI: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 90
TABLE 37 BFSI: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 90
TABLE 38 AEROSPACE & DEFENSE: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 91
TABLE 39 AEROSPACE & DEFENSE: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 91
TABLE 40 GOVERNMENT & PUBLIC UTILITIES: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2018–2023 (USD MILLION) 92
TABLE 41 GOVERNMENT & PUBLIC UTILITIES: ENCRYPTION AS A SERVICE MARKET,
BY REGION, 2024–2030 (USD MILLION) 92
TABLE 42 IT & TELECOMMUNICATIONS: ENCRYPTION AS A SERVICE MARKET, BY REGION, 2018–2023 (USD MILLION) 93
TABLE 43 IT & TELECOMMUNICATIONS: ENCRYPTION AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION) 93
TABLE 44 HEALTHCARE: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 94
TABLE 45 HEALTHCARE: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 94
TABLE 46 RETAIL: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 95
TABLE 47 RETAIL: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 95
TABLE 48 OTHER VERTICALS: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2018–2023 (USD MILLION) 96
TABLE 49 OTHER VERTICALS: ENCRYPTION AS A SERVICE MARKET, BY REGION,
2024–2030 (USD MILLION) 96
TABLE 50 ENCRYPTION AS A SERVICE MARKET, BY REGION, 2018–2023 (USD MILLION) 98
TABLE 51 ENCRYPTION AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION) 98
TABLE 52 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 100
TABLE 53 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 101
TABLE 54 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 101
TABLE 55 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 101
TABLE 56 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 102
TABLE 57 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 102
TABLE 58 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2018–2023 (USD MILLION) 102
TABLE 59 NORTH AMERICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 103
TABLE 60 US: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 103
TABLE 61 US: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 104
TABLE 62 US: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 104
TABLE 63 US: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 104
TABLE 64 US: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 105
TABLE 65 US: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 105
TABLE 66 CANADA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 106
TABLE 67 CANADA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 106
TABLE 68 CANADA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 106
TABLE 69 CANADA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 107
TABLE 70 CANADA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 107
TABLE 71 CANADA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 107
TABLE 72 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 109
TABLE 73 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 109
TABLE 74 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 109
TABLE 75 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 110
TABLE 76 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 110
TABLE 77 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 110
TABLE 78 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2018–2023 (USD MILLION) 111
TABLE 79 EUROPE: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 111
TABLE 80 UK: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 112
TABLE 81 UK: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 112
TABLE 82 UK: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 112
TABLE 83 UK: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 113
TABLE 84 UK: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 113
TABLE 85 UK: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 113
TABLE 86 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 114
TABLE 87 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 114
TABLE 88 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 115
TABLE 89 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 115
TABLE 90 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 115
TABLE 91 GERMANY: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 116
TABLE 92 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 117
TABLE 93 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 117
TABLE 94 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 117
TABLE 95 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 118
TABLE 96 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 118
TABLE 97 FRANCE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 118
TABLE 98 ITALY: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 119
TABLE 99 ITALY: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 119
TABLE 100 ITALY: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 120
TABLE 101 ITALY: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 120
TABLE 102 ITALY: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 120
TABLE 103 ITALY: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 121
TABLE 104 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 121
TABLE 105 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 122
TABLE 106 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 122
TABLE 107 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 122
TABLE 108 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 123
TABLE 109 REST OF EUROPE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 123
TABLE 110 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 125
TABLE 111 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 126
TABLE 112 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 126
TABLE 113 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 126
TABLE 114 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 127
TABLE 115 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 127
TABLE 116 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2018–2023 (USD MILLION) 128
TABLE 117 ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 128
TABLE 118 CHINA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 129
TABLE 119 CHINA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 129
TABLE 120 CHINA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 129
TABLE 121 CHINA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 130
TABLE 122 CHINA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 130
TABLE 123 CHINA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 130
TABLE 124 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 131
TABLE 125 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 131
TABLE 126 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 132
TABLE 127 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 132
TABLE 128 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 132
TABLE 129 JAPAN: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 133
TABLE 130 INDIA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 133
TABLE 131 INDIA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 134
TABLE 132 INDIA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 134
TABLE 133 INDIA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 134
TABLE 134 INDIA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 135
TABLE 135 INDIA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 135
TABLE 136 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 136
TABLE 137 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2024–2030 (USD MILLION) 136
TABLE 138 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 136
TABLE 139 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 137
TABLE 140 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 137
TABLE 141 REST OF ASIA PACIFIC: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 137
TABLE 142 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 139
TABLE 143 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2024–2030 (USD MILLION) 139
TABLE 144 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 139
TABLE 145 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 140
TABLE 146 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 140
TABLE 147 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2024–2030 (USD MILLION) 140
TABLE 148 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY, 2018–2023 (USD MILLION) 141
TABLE 149 MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 141
TABLE 150 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 142
TABLE 151 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 142
TABLE 152 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 142
TABLE 153 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 143
TABLE 154 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 143
TABLE 155 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 143
TABLE 156 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2018–2023 (USD MILLION) 144
TABLE 157 GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 144
TABLE 158 KSA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 145
TABLE 159 KSA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 145
TABLE 160 KSA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 145
TABLE 161 KSA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 146
TABLE 162 KSA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 146
TABLE 163 KSA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 146
TABLE 164 UAE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 147
TABLE 165 UAE: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 147
TABLE 166 UAE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 148
TABLE 167 UAE: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 148
TABLE 168 UAE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 148
TABLE 169 UAE: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 149
TABLE 170 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 149
TABLE 171 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2024–2030 (USD MILLION) 150
TABLE 172 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET,
BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 150
TABLE 173 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET,
BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 150
TABLE 174 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 151
TABLE 175 REST OF GCC COUNTRIES: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2024–2030 (USD MILLION) 151
TABLE 176 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 152
TABLE 177 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 152
TABLE 178 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 152
TABLE 179 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 153
TABLE 180 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 153
TABLE 181 SOUTH AFRICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 153
TABLE 182 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY SERVICE TYPE, 2018–2023 (USD MILLION) 154
TABLE 183 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY SERVICE TYPE, 2024–2030 (USD MILLION) 154
TABLE 184 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 155
TABLE 185 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 155
TABLE 186 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY VERTICAL, 2018–2023 (USD MILLION) 155
TABLE 187 REST OF MIDDLE EAST & AFRICA: ENCRYPTION AS A SERVICE MARKET,
BY VERTICAL, 2024–2030 (USD MILLION) 156
TABLE 188 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 157
TABLE 189 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 157
TABLE 190 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 158
TABLE 191 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 158
TABLE 192 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 158
TABLE 193 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 159
TABLE 194 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2018–2023 (USD MILLION) 159
TABLE 195 LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 159
TABLE 196 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 160
TABLE 197 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 160
TABLE 198 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 161
TABLE 199 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 161
TABLE 200 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 161
TABLE 201 BRAZIL: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 162
TABLE 202 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 162
TABLE 203 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE,
2024–2030 (USD MILLION) 163
TABLE 204 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2018–2023 (USD MILLION) 163
TABLE 205 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2024–2030 (USD MILLION) 163
TABLE 206 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 164
TABLE 207 MEXICO: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL,
2024–2030 (USD MILLION) 164
TABLE 208 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 165
TABLE 209 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY SERVICE TYPE, 2024–2030 (USD MILLION) 165
TABLE 210 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY ORGANIZATION SIZE, 2018–2023 (USD MILLION) 165
TABLE 211 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET,
BY ORGANIZATION SIZE, 2024–2030 (USD MILLION) 166
TABLE 212 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 166
TABLE 213 REST OF LATIN AMERICA: ENCRYPTION AS A SERVICE MARKET, BY VERTICAL, 2024–2030 (USD MILLION) 166
TABLE 214 OVERVIEW OF STRATEGIES ADOPTED BY KEY ENCRYPTION
AS A SERVICE VENDORS 167
TABLE 215 ENCRYPTION AS A SERVICE MARKET: DEGREE OF COMPETITION 169
TABLE 216 ENCRYPTION AS A SERVICE MARKET: REGIONAL FOOTPRINT 176
TABLE 217 ENCRYPTION AS A SERVICE MARKET: SERVICE TYPE FOOTPRINT 177
TABLE 218 ENCRYPTION AS A SERVICE MARKET: VERTICAL FOOTPRINT 178
TABLE 219 ENCRYPTION AS A SERVICE MARKET: KEY STARTUPS/SMES 181
TABLE 220 ENCRYPTION AS A SERVICE MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES, BY SERVICE TYPE 182
TABLE 221 ENCRYPTION AS A SERVICE MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES, BY VERTICAL 182
TABLE 222 ENCRYPTION AS A SERVICE MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES, BY REGION 183
TABLE 223 ENCRYPTION AS A SERVICE MARKET: PRODUCT LAUNCHES AND ENHANCEMENTS, JANUARY 2022–DECEMBER 2024 183
TABLE 224 ENCRYPTION AS A SERVICE MARKET: DEALS, JANUARY 2022–DECEMBER 2024 184
TABLE 225 AWS: BUSINESS OVERVIEW 186
TABLE 226 AWS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 187
TABLE 227 CISCO: BUSINESS OVERVIEW 189
TABLE 228 CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 190
TABLE 229 HASHICORP: BUSINESS OVERVIEW 192
TABLE 230 HASHICORP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 193
TABLE 231 HASHICORP: DEALS 193
TABLE 232 GOOGLE: BUSINESS OVERVIEW 195
TABLE 233 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 234 BOX: BUSINESS OVERVIEW 198
TABLE 235 BOX: PRODUCTS/SOLUTIONS/SERVICES OFFERED 199
TABLE 236 IBM: BUSINESS OVERVIEW 200
TABLE 237 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 201
TABLE 238 MICROSOFT: BUSINESS OVERVIEW 202
TABLE 239 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 203
TABLE 240 MICROSOFT: DEALS 204
TABLE 241 UTIMACO: BUSINESS OVERVIEW 205
TABLE 242 UTIMACO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 206
TABLE 243 UTIMACO: PRODUCT LAUNCHES AND ENHANCEMENTS 206
TABLE 244 CLAI PAYMENTS TECHNOLOGIES: BUSINESS OVERVIEW 207
TABLE 245 CLAI PAYMENTS TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 246 RETARUS: BUSINESS OVERVIEW 208
TABLE 247 RETARUS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 208
TABLE 248 RETARUS: PRODUCT LAUNCHES AND ENHANCEMENTS 209
TABLE 249 INTERMEDIA: BUSINESS OVERVIEW 210
TABLE 250 INTERMEDIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 210
TABLE 251 THALES: BUSINESS OVERVIEW 211
TABLE 252 THALES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
TABLE 253 THALES: PRODUCT LAUNCHES AND ENHANCEMENTS 212
TABLE 254 NETWORK FISH: BUSINESS OVERVIEW 213
TABLE 255 NETWORK FISH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 213
TABLE 256 STORMAGIC: BUSINESS OVERVIEW 214
TABLE 257 STORMAGIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 214
TABLE 258 BLUEFIN: BUSINESS OVERVIEW 215
TABLE 259 BLUEFIN: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
TABLE 260 BLUEFIN: DEALS 216
TABLE 261 COGITO GROUP: BUSINESS OVERVIEW 217
TABLE 262 COGITO GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
TABLE 263 KLOCH: BUSINESS OVERVIEW 218
TABLE 264 KLOCH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 219
TABLE 265 ADJACENT MARKETS AND FORECASTS 227
TABLE 266 ENCRYPTION SOFTWARE MARKET, BY COMPONENT, 2015–2020 (USD MILLION) 228
TABLE 267 ENCRYPTION SOFTWARE MARKET, BY COMPONENT, 2021–2026 (USD MILLION) 228
TABLE 268 ENCRYPTION SOFTWARE MARKET, BY APPLICATION, 2015–2020 (USD MILLION) 228
TABLE 269 ENCRYPTION SOFTWARE MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 229
TABLE 270 ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE,
2015–2020 (USD MILLION) 229
TABLE 271 ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE,
2021–2026 (USD MILLION) 229
TABLE 272 ENCRYPTION SOFTWARE MARKET, BY ORGANIZATION SIZE,
2015–2020 (USD MILLION) 230
TABLE 273 ENCRYPTION SOFTWARE MARKET, BY ORGANIZATION SIZE,
2021–2026 (USD MILLION) 230
TABLE 274 ENCRYPTION SOFTWARE MARKET, BY VERTICAL, 2015–2020 (USD MILLION) 230
TABLE 275 ENCRYPTION SOFTWARE MARKET, BY VERTICAL, 2021–2026 (USD MILLION) 231
TABLE 276 KEY MANAGEMENT AS A SERVICE MARKET, BY COMPONENT,
2016–2023 (USD MILLION) 231
TABLE 277 KEY MANAGEMENT AS A SERVICE MARKET, BY APPLICATION,
2016–2023 (USD MILLION) 232
TABLE 278 KEY MANAGEMENT AS A SERVICE MARKET, BY ORGANIZATION SIZE,
2016–2023 (USD MILLION) 232
TABLE 279 KEY MANAGEMENT AS A SERVICE MARKET, BY VERTICAL,
2016–2023 (USD MILLION) 232
LIST OF FIGURES
FIGURE 1 ENCRYPTION AS A SERVICE MARKET: RESEARCH DESIGN 32
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE,
DESIGNATION, AND REGION 33
FIGURE 3 ENCRYPTION AS A SERVICE MARKET: DATA TRIANGULATION 34
FIGURE 4 ENCRYPTION AS A SERVICE MARKET ESTIMATION: RESEARCH FLOW 35
FIGURE 5 APPROACH 1 (SUPPLY SIDE): REVENUE FROM ENCRYPTION
AS A SERVICE VENDORS 36
FIGURE 6 APPROACH 1 (SUPPLY-SIDE ANALYSIS) 37
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 —
BOTTOM-UP (DEMAND SIDE) 38
FIGURE 8 GLOBAL ENCRYPTION AS A SERVICE MARKET SIZE AND
Y-O-Y GROWTH RATE, 2022–2030 42
FIGURE 9 SEGMENTS WITH SIGNIFICANT MARKET SHARE AND GROWTH RATE, 2024–2030 43
FIGURE 10 NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 2024 43
FIGURE 11 GROWING ADOPTION OF CLOUD SERVICES TO DRIVE MARKET 44
FIGURE 12 KEY MANAGEMENT AS A SERVICE SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 44
FIGURE 13 SMES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 45
FIGURE 14 BFSI SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
DURING FORECAST PERIOD 45
FIGURE 15 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS
IN NEXT FIVE YEARS 46
FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES:
ENCRYPTION AS A SERVICE MARKET 48
FIGURE 17 ENCRYPTION AS A SERVICE MARKET: PORTER’S FIVE FORCES ANALYSIS 53
FIGURE 18 ENCRYPTION AS A SERVICE MARKET: VALUE CHAIN ANALYSIS 55
FIGURE 19 ENCRYPTION AS A SERVICE MARKET: ECOSYSTEM ANALYSIS 56
FIGURE 20 NUMBER OF PATENTS GRANTED FOR ENCRYPTION AS A SERVICE
MARKET, 2014–2024 58
FIGURE 21 ENCRYPTION AS A SERVICE MARKET: REGIONAL ANALYSIS OF PATENTS GRANTED 58
FIGURE 22 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE 61
FIGURE 23 MARKET POTENTIAL OF GENERATIVE AI IN ENHANCING ENCRYPTION AS A SERVICE MARKET ACROSS INDUSTRIES 64
FIGURE 24 IMPACT OF GEN AI ON INTERCONNECTED AND ADJACENT ECOSYSTEM 65
FIGURE 25 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 66
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 67
FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 67
FIGURE 28 LEADING GLOBAL ENCRYPTION AS A SERVICE STARTUPS AND SMES,
BY NUMBER OF INVESTORS AND FUNDING ROUNDS, 2021–2023 73
FIGURE 29 APPLICATION-LEVEL ENCRYPTION AS A SERVICE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 75
FIGURE 30 SMES SEGMENT TO REGISTER HIGHER CAGR DURING THE FORECAST PERIOD 83
FIGURE 31 IT & TELECOMMUNICATIONS SEGMENT TO REGISTER HIGHEST CAGR
DURING FORECAST PERIOD 88
FIGURE 32 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 98
FIGURE 33 NORTH AMERICA: MARKET SNAPSHOT 100
FIGURE 34 ASIA PACIFIC: MARKET SNAPSHOT 125
FIGURE 35 SEGMENTAL REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS,
2019–2023 (USD MILLION) 168
FIGURE 36 SHARE OF LEADING COMPANIES IN ENCRYPTION AS A SERVICE MARKET 169
FIGURE 37 ENCRYPTION AS A SERVICE MARKET: COMPARISON OF VENDORS’ BRANDS 171
FIGURE 38 ENCRYPTION AS A SERVICE MARKET: COMPANY VALUATION OF
KEY VENDORS, 2025 (USD BILLION) 172
FIGURE 39 ENCRYPTION AS A SERVICE MARKET: FINANCIAL METRICS OF
KEY VENDORS, 2025 172
FIGURE 40 ENCRYPTION AS A SERVICE MARKET: COMPANY EVALUATION
MATRIX (KEY PLAYERS), 2023 174
FIGURE 41 ENCRYPTION AS A SERVICE MARKET: COMPANY FOOTPRINT 175
FIGURE 42 ENCRYPTION AS A SERVICE MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 180
FIGURE 43 AWS: COMPANY SNAPSHOT 187
FIGURE 44 CISCO: COMPANY SNAPSHOT 190
FIGURE 45 HASHICORP: COMPANY SNAPSHOT 192
FIGURE 46 GOOGLE: COMPANY SNAPSHOT 196
FIGURE 47 BOX: COMPANY SNAPSHOT 198
FIGURE 48 IBM: COMPANY SNAPSHOT 201
FIGURE 49 MICROSOFT: COMPANY SNAPSHOT 203
FIGURE 50 THALES: COMPANY SNAPSHOT 211
