Encryption as a Service Market Size, Share, Trends, Industry Analysis Report: By Service Type, Organization Size, Industry Vertical, and Region

Description

List of Tables

The global encryption as a service market size is expected to reach USD 14,302.03 million by 2034, according to a new study by Polaris Market Research. The report "Encryption as a Service Market Size, Share, Trends, Industry Analysis Report: By Service Type (Data Encryption as a Service, Management Encryption as a Service, Email Encryption as a Service, Application-Level Encryption as a Service, and Other), Organization Size, Industry Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025 - 2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Encryption as a service (EaaS) is a cloud-based solution that provides encryption capabilities to businesses and individuals, enabling them to secure their data without managing the complexities of encryption themselves. Organizations must ensure that sensitive data is protected, whether it is at rest, in transit, or in use, as cybersecurity threats continue to rise. EaaS offers a streamlined and scalable approach to encryption, allowing companies to integrate robust security measures without significant investment in infrastructure, expertise, or ongoing maintenance.

The growing smartphone adoption coupled with rising adoption of mobile health applications boost demand for encryption as a service. Smartphones lead to an increase in sensitive activities such as banking, online shopping, and communication, creating vulnerability to cyber threats. This drives smartphone owners to adopt encryption as a service to protect their sensitive data.

EaaS providers offer encryption solutions that are easy to deploy and manage, making security accessible to organizations of all sizes. These services typically involve encrypting files, databases, emails, and network traffic to protect data from unauthorized access. Businesses often store vast amounts of sensitive data in cloud environments, making encryption a critical requirement. EaaS solutions ensure that data remains encrypted throughout its lifecycle, mitigating risks associated with data breaches, insider threats, and compliance violations.

Encryption as a Service Market Report Highlights

In terms of service type, the data encryption as a service segment held the largest market share in 2024 due to the rising concerns over data breaches, stringent regulatory requirements, and the rapid adoption of cloud computing

Based on organization size, SMEs are projected to witness the fastest growth during the forecast period due to the rising number of cyberattacks targeting smaller businesses.

In the global market, North America dominated the encryption as a service market share in 2024 due to the strong presence of major technology companies, stringent data protection regulations, and rising cyber threats.

Some of the global key market players are Akeyless, AWS, Bluefin, Box, Cisco, CLAI PAYMENTS, Cogito Group, Fortanix, GarbleCloud, Google, HashiCorp, IBM, Intermedia, Kloch, Microsoft, Network Fish, NordLocker, Piiano, Proton, Retarus, StorMagic, Tencent Cloud, Thales, Utimaco, and Virtru.

Polaris Market Research has segmented the encryption as a service market report based on service type, organization size, industry vertical, and region:

By Service Type Outlook (Revenue, USD Million, 2020-2034)

Data Encryption as a Service
Management Encryption as a Service
Email Encryption as a Service
Application-level Encryption as a Service
Other

By Organization Size Outlook (Revenue, USD Million, 2020-2034)

Large Enterprises
SMEs

By Industry Vertical Outlook (Revenue, USD Million, 2020-2034)

BFSI
Aerospace & Defense
Government & Public Utilities
IT & Telecommunications
Healthcare
Retail
Other

By Regional Outlook (Revenue, USD Million, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM5385

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source

4. Global Encryption as a Service Market Insights

4.1. Encryption as a Service Market - Market Snapshot
4.2. Encryption as a Service Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Corporate Offices Worldwide
  - 4.2.1.2. Rising Penetration of Smartphones Globally
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High cost
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Encryption as a Service Market Trends
4.6. Value Chain Analysis

5. Global Encryption as a Service Market, by Service Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
5.3. Data Encryption as a Service
- 5.3.1. Global Encryption as a Service Market, by Data Encryption as a Service, by Region, 2020-2034 (USD Million)
5.4. Management Encryption as a Service
- 5.4.1. Global Encryption as a Service Market, by Management Encryption as a Service, by Region, 2020-2034 (USD Million)
5.5. Email Encryption as a Service
- 5.5.1. Global Encryption as a Service Market, by Email Encryption as a Service, by Region, 2020-2034 (USD Million)
5.6. Application-level Encryption as a Service
- 5.6.1. Global Encryption as a Service Market, by Application-level Encryption as a Service, by Region, 2020-2034 (USD Million)
5.7. Other
- 5.7.1. Global Encryption as a Service Market, by Other, by Region, 2020-2034 (USD Million)

6. Global Encryption as a Service Market, by Organization Size

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
6.3. Large Enterprises
- 6.3.1. Global Encryption as a Service Market, by Large Enterprises, by Region, 2020-2034 (USD Million)
6.4. SMEs
- 6.4.1. Global Encryption as a Service Market, by SMEs, by Region, 2020-2034 (USD Million)

7. Global Encryption as a Service Market, by Industry Vertical

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
7.3. BFSI
- 7.3.1. Global Encryption as a Service Market, by BFSI, by Region, 2020-2034 (USD Million)
7.4. Aerospace & Defense
- 7.4.1. Global Encryption as a Service Market, by Aerospace & Defense, by Region, 2020-2034 (USD Million)
7.5. Government & Public Utilities
- 7.5.1. Global Encryption as a Service Market, by Government & Public Utilities, by Region, 2020-2034 (USD Million)
7.6. IT & Telecommunications
- 7.6.1. Global Encryption as a Service Market, by IT & Telecommunications, by Region, 2020-2034 (USD Million)
7.7. Healthcare
- 7.7.1. Global Encryption as a Service Market, by Healthcare, by Region, 2020-2034 (USD Million)
7.8. Retail
- 7.8.1. Global Encryption as a Service Market, by Retail, by Region, 2020-2034 (USD Million)
7.9. Others
- 7.9.1. Global Encryption as a Service Market, by Others, by Region, 2020-2034 (USD Million)

8. Global Encryption as a Service Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Encryption as a Service Market Assessment, By Geography, 2020-2034 (USD Million)
8.3. Encryption as a Service Market - North America
- 8.3.1. North America: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
- 8.3.2. North America: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
- 8.3.3. North America: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.3.4. Encryption as a Service Market - U.S.
  - 8.3.4.1. U.S.: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.3.4.2. U.S.: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.3.4.3. U.S.: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.3.5. Encryption as a Service Market - Canada
  - 8.3.5.1. Canada: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.3.5.2. Canada: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.3.5.3. Canada: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
8.4. Encryption as a Service Market - Europe
- 8.4.1. Europe: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
- 8.4.2. Europe: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
- 8.4.3. Europe: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.4. Encryption as a Service Market - UK
  - 8.4.4.1. UK: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.4.2. UK: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.4.3. UK: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.5. Encryption as a Service Market - France
  - 8.4.5.1. France: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.5.2. France: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.5.3. France: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.6. Encryption as a Service Market - Germany
  - 8.4.6.1. Germany: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.6.2. Germany: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.6.3. Germany: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.7. Encryption as a Service Market - Italy
  - 8.4.7.1. Italy: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.7.2. Italy: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.7.3. Italy: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.8. Encryption as a Service Market - Spain
  - 8.4.8.1. Spain: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.8.2. Spain: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.8.3. Spain: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.9. Encryption as a Service Market - Netherlands
  - 8.4.9.1. Netherlands: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.9.2. Netherlands: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.9.3. Netherlands: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.10. Encryption as a Service Market - Russia
  - 8.4.10.1. Russia: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.10.2. Russia: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.10.3. Russia: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.4.11. Encryption as a Service Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.4.11.2. Rest of Europe: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.4.11.3. Rest of Europe: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
8.5. Encryption as a Service Market - Asia Pacific
- 8.5.1. Asia Pacific: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
- 8.5.2. Asia Pacific: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
- 8.5.3. Asia Pacific: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.4. Encryption as a Service Market - China
  - 8.5.4.1. China: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.4.2. China: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.4.3. China: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.5. Encryption as a Service Market - India
  - 8.5.5.1. India: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.5.2. India: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.5.3. India: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.6. Encryption as a Service Market - Malaysia
  - 8.5.6.1. Malaysia: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.6.2. Malaysia: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.6.3. Malaysia: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.7. Encryption as a Service Market - Japan
  - 8.5.7.1. Japan: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.7.2. Japan: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.7.3. Japan: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.8. Encryption as a Service Market - Indonesia
  - 8.5.8.1. Indonesia: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.8.2. Indonesia: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.8.3. Indonesia: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.9. Encryption as a Service Market - South Korea
  - 8.5.9.1. South Korea: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.9.2. South Korea: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.9.3. South Korea: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.10. Encryption as a Service Market - Australia
  - 8.5.10.1. Australia: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.10.2. Australia: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.10.3. Australia: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.5.11. Encryption as a Service Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.5.11.2. Rest of Asia Pacific: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.5.11.3. Rest of Asia Pacific: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
8.6. Encryption as a Service Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
- 8.6.2. Middle East & Africa: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
- 8.6.3. Middle East & Africa: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.6.4. Encryption as a Service Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.6.4.2. Saudi Arabia: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.6.4.3. Saudi Arabia: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.6.5. Encryption as a Service Market - UAE
  - 8.6.5.1. UAE: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.6.5.2. UAE: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.6.5.3. UAE: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.6.6. Encryption as a Service Market - Israel
  - 8.6.6.1. Israel: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.6.6.2. Israel: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.6.6.3. Israel: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.6.7. Encryption as a Service Market - South Africa
  - 8.6.7.1. South Africa: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.6.7.2. South Africa: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.6.7.3. South Africa: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.6.8. Encryption as a Service Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.6.8.2. Rest of Middle East & Africa: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.6.8.3. Rest of Middle East & Africa: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
8.7. Encryption as a Service Market - Latin America
- 8.7.1. Latin America: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
- 8.7.2. Latin America: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
- 8.7.3. Latin America: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.7.4. Encryption as a Service Market - Mexico
  - 8.7.4.1. Mexico: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.7.4.2. Mexico: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.7.4.3. Mexico: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.7.5. Encryption as a Service Market - Brazil
  - 8.7.5.1. Brazil: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.7.5.2. Brazil: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.7.5.3. Brazil: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.7.6. Encryption as a Service Market - Argentina
  - 8.7.6.1. Argentina: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.7.6.2. Argentina: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.7.6.3. Argentina: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)
- 8.7.7. Encryption as a Service Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Encryption as a Service Market, by Service Type, 2020-2034 (USD Million)
  - 8.7.7.2. Rest of Latin America: Encryption as a Service Market, by Organization Size, 2020-2034 (USD Million)
  - 8.7.7.3. Rest of Latin America: Encryption as a Service Market, by Industry Vertical, 2020-2034 (USD Million)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Akeyless
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. AWS
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Bluefin
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Box
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. Cisco
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. CLAI PAYMENTS
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. Cogito Group
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. Fortanix
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. GarbleCloud
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Google
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
10.11. HashiCorp
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
10.12. IBM
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
10.13. Intermedia
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
10.14. Kloch
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
10.15. Microsoft
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development