The evolution of encryption into an essential part of data protection strategies over the years has made it a critical component of security posture across various sectors and industries.
It is estimated that 42% of organizations are confident of increasing their budget expenditures on encryption in FY22-23.
According to Encryption Consulting study on global encryption trends – 2023, firms are becoming more aware of encryption and are planning to adopt it as a core data security technology.
In Survey Trend Analysis, the following data is gathered:-
1. In FY20, only 27% of the responding organizations had encryption strategies as a primary focus, but that figure increased to 70% in FY21.
2. Enterprise encryption strategies are adopted on average by 50% of enterprises in the world.
3. According to the survey, 65% of respondents said protecting customer information was their top concern.