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Key Management System Revenue: Cloud vs Non-Cloud

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Key Management Services (KMS) and Cloud Strategies

Presentation | 4Q 2024 | PT-3202

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ABI Research forecasts a Compound Annual Growth Rate (CAGR) of 29.6% in cloud KMS revenue between 2023 and 2030 as enterprises increasingly rely on complex hybrid and multi-cloud environments, propelling demand for KMSs that use cloud strategies.

Risk perception is a key component of growth for cloud KMS. While cloud options have customarily been perceived as less secure than their on-premises counterparts, mass migration to the cloud and the increasing hybridization of cloud and on-premises environments is helping to turn the tide regarding perceptions around cloud risk.  69% of cryptographic vendors plan to develop cloud KMS capabilities and cryptography as a service solutions in the next year, with these developments expect to present in revenue by 2026 and 2027.