New Report on Cloud Key Management Names Sepior as a Major Vendor in the Projected Billion Dollar KMaaS Market
The Danish Security Company joins Google, IBM, Thales and Gemalto On Key Management as a Service (KMaaS) Report
Aarhus, Denmark (March 14, 2018)
Sepior, the first company to deliver a commercial-grade, pure-software, multi-cloud Key Management as a Service (KMaaS) solution with built-in cryptographic key protection, has been named a leading vendor on the latest encryption technology report from the research agency MarketsandMarkets. The report is entitled "Key Management as a Service Market by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Database Encryption, and Cloud Encryption), Organization Size, Vertical, and Region - Global Forecast to 2023".
Sepior's KMaaS is the only pure-cloud cryptographic key management system available as an economical consumable service that delivers end-to-end encryption for cloud applications and requires no trust in any single service provider. Sepior uses threshold Multi Party Computation (MPC) to realize a Distributed Security Module (similar in concept to a Hardware Security Module or HSM). This design enables high-availability and fault-tolerance and scales from 3 to any number of distributed key servers.
The report estimates the nascent KMaaS industry at USD 0.37 Billion in 2018, and projects it will reach USD 1.28 Billion by 2023, a CAGR of 28.4%. The report names North America as the most promising region for the technology, due to current adaption trends, and lists healthcare and life sciences as the best vertical opportunities, based on patient data privacy concerns.
Other companies featured on the report include CipherCloud (US), Gemalto (Netherlands), Google (US), IBM (US), Thales e-Security (France), Box (US), Egnyte (US), KeyNexus (Canada), and Unbound Tech (US).
View the full MarketsandMarkets announcement here: https://www.prnewswire.com/news-releases/key-management-as-a-service-market-worth-128-billion-usd-by-2023-675999693.html
Founded in 2014 as a spinout from the University of Aarhus in Denmark, Sepior develops key management solutions for encrypting data on the public cloud. Using patented cryptographic protocols, Sepior’s RSA award-winning team of cryptography experts have developed a practical virtual Key Management Service (KMS) using secure multi-party computation (MPC), a technique for splitting cryptographic keys between different providers that results in distributed trust. As the industry’s first true cloud-native KMS based on MPC, Sepior gives businesses full control over the encryption keys used by their SaaS-providers without relying on any single SaaS-provider, and at SaaS economics.
The company is partially funded by a grant from the European Union’s Horizon 2020 Research and Technology program.