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Chicago, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Encryption Software Market size is expected to grow from USD 10.9 billion in 2021 to USD 22.1 billion by...
Encryption Software Market Competitive Landscape, Key Companies Analysis and Revenue Forecast by 2024
“The need to safeguard corporate data is driving the encryption software market”
By 2024, the global Encryption Software Market size is estimated to reach USD 8,402.9 million, which is growing at a CAGR of more than 14% over the forecast period. With the growth in the trends like Internet of Things (IoT) and Bring Your Own Device (BYOD), concerns about data security are on all-time high. These trends have further caused cyber-attacks, thefts, data breaches and commercial espionage which will drive the demand for protective software.
Developments in the terms of hardware and software in the fields of mobile technology and their increased penetration are further estimated to fuel the demand over the forecast period. The inclination of firms towards cloud computing, demand for sensitive data protection, high data volume requirements has led to increase in the demand of encryption software.
Verticals such as BFSI and healthcare are required to comply with stringent regulations set by authorities such as the PCI, HIPPA and DSS who have formulated data security solutions which has led to application of security solutions all over the world. Intellectual properties of enterprises and users have become prone to infringement and theft on account of increase in usage of internet and rapid digitization. These risks make companies implement the security solutions. Protection provided to the sensitive data and intellectual properties of enterprises is expected to drive the market over the next few years.
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However implementation of such solutions which are fairly expensive can cause challenges in the fields of budgets. Furthermore, application of these provisions is considerably time-consuming and complex, though the kind of security and safety provided balance-out the challenges such as time-consumption.
Due to well-established telecom and IT sector, North America consumed a major share. Generation of huge amounts of data that needs to be protected was the major reason behind this hiked consumption. Furthermore, increased usage of personal computers and the internet are expected to raise the demand of encryption software over the forecast period.
“Cloud encryption to witness substantial growth over the forecast period”
By 2024, the segment that is expected to witness a growth at CAGR of 19% is the cloud computing segment. Data storage being major resource of information for industries such as retail, finance and banking has caused them to incline toward cloud computing. Flexibility and scalability offered by these solutions are the main reasons for the adoption of encryption software.
At the same time with the increase in adoption of cloud computing, the need to protect the data has also escalated. Additionally, the propagation of expert data analytics has caused raise in the rate of internet usage leading to increased use of cloud encryption software. The regulated standards are set owing to the increase in the rate of growing cyber-attacks and mobile-theft.
“BFSI dominated the application segment”
BFSI segment in 2015 captured considerable market share consuming over $600 million and is expected to grow at CAGR of 15 % by 2024. Sudden spike in the number of cyber-attacks and the ever changing nature of the industry has resulted into increase in demand of security of financial data that is sensitive from theft and infringements by lowering risks and maximizing returns. The growth in adoption of cloud technologies in banking sector is expected to drive the market for next few years.
Traditional data transfer techniques such as DVDs, email and other data transfer techniques are adopted by banks for transferring the data which are highly risky keeping in mind the level at which the infringers operate. Increase in demand of such software is expected due to implementation of such techniques. Furthermore, rise in dependency on the online method of banking and the need to protect the transactions will fuel the need of encryption software over the forecast period.
“Asia Pacific to experience robust growth; China exhibits growth potential”
In 2015, the Asia-Pacific region accounted for $500 million which is expected to increase due to organizations shifting to cloud storage facilities due to their incapacity to develop data storage infrastructures, which will surely increase the risks of losses of data, infringements and thefts escalating the demand. Countries like China and India have tremendous rate of development manufacturing sector as well as IT and telecom sector which will drive the market in the forecast period.
“The encryption software market fragmented in nature”
The key players in the market are firms like Microsoft Corporation, Cisco Systems, Symantec, EMC Corporation, Bloombase, Sophos, IBM Corporation, Intel Security and Trend Micro. These firms offer solutions to both large scale businesses and small & medium scale businesses at the same time focusing on the research and development of newer techniques of cryptography to provide optimum solutions to the clients.
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Encryption Software Industry Segmentation, Trends, Growth and Regional Forecast 2023
Market Research Future published a research report on “Encryption Software Industry Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Encryption Software Market: Synopsis
The detailed report published by Market Research Future (MRFR) projects that the global Encryption Software Industry is marked to expand remarkably at a CAGR 24% during the forecast period of 2017-2023 and reach the market valuation of USD 13 Bn by the end of the assessment period.
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Increased incidences of data theft in small to large scale organizations, rise in demand for advanced data security solutions, increased emphasis on software development for optimizing various business processes and increased awareness regarding the data security are majorly propelling the growth of the global encryption software market. Rapid industrialization and high demand for encryption in various industrial sectors such as government, healthcare, aerospace and defense, and others are also fueling the growth of the global Encryption Software Industry during the assessment period.
Key Players:
The prominent players in the Encryption Software Industry are – Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), CheckPoint Software Technologies Ltd. (Israel), Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and WinMagic Inc. (Canada) among others.
Segmentation:
The global Encryption Software Market has been segmented on the basis of deployment, service, organization size, application and vertical. Based on deployment, the global encryption software market has been segmented into cloud and on-premise. Based on service, the global encryption software market has been segmented into professional service and managed service. Based on organization size, the global encryption software market has been segmented into small & medium enterprises and large enterprises. Based on application, the global encryption software market has been segmented into disk encryption, file/folder encryption, communication encryption, database encryption, and cloud encryption. Based on vertical, the global encryption software market has been segmented into healthcare, government & public sector, it & telecommunication, BSFI, retail, aerospace & defense, and others.
Global Encryption Software Market: Regional Analysis
Geographically, the global encryption software market has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe, and the rest of the world. The North America region commands the highest share of the global encryption software market owing to the rapid technological advancement, easy adoption of advanced technology, increased rate of cybercrime, and rise in adoption of encryption solutions for data security by preventing unauthorized access to the data and company information in this region. The encryption software in the Asia Pacific region is projected to expand at the fastest growth rate during the assessment period owing to the high demand for advanced security solutions in small to large scale enterprises, rapid industrial development, increased rate of data theft and cybercrime, and proliferation in IT companies as a part of process outsourcing in this region. Rapid adoption of advanced technology, high demand for data security solutions and increased development of advanced encryption software that can provide innovative data security services are majorly fueling the growth of the encryption software market in the Europe region.
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TABLE OF CONTENTS
LIST OF TABLES
Table 1 Encryption Software Market, By Application
Table 2 Encryption Software Market, By Deployment
Table 3 Encryption Software Market, By Service
Table 4 Encryption Software Market, By Organization Size
Table 5 Encryption Software Market, By Vertical
Table 6 Encryption Software Market, By Region
Table 7 North America Encryption Software Market, By Application
Table 8 North America Encryption Software Market, By Deployment
Continued…
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The Global Encryption Software Market Research Report Offers an Industry Analysis, Market Size, Share, Growth, Trends, And Estimation. The Encryption Software Market Is Segmented By Deployment Type, User Type, Applications, Industry Vertical & Regions.
The report evaluates the Encryption Software Market share command by the key Players of the business and offers a full assessment of the competitive landscape. This market is split into completely totally different sections with the profound analysis of each phase with relevancy the geography for the study quantity. Supported the historical data, the report estimates future prospects and provides the market trends, size, growth, and estimation for the amount 2018-2025.
The global encryption software market research report provides detailed information about the industry based on the revenue (USD MN) for the forecast period. The research study is a descriptive analysis of this market emphasizing the market drivers and restraints that govern the overall market growth. The trends and future prospects for the market are also included in the report which gives an intellectual understanding of the encryption software industry.
The major market drivers are indispensable need for compliance with regulatory standards, manifestation of dynamic business environment, rising concerns about data loss and theft and ongoing availability of flexible encryption software. The market growth might be restricted due to advancement increases overhead costs and evolving demand for competent management of data under the study period.
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The report offers a value chain analysis that gives a comprehensive outlook of the encryption software market. The attractiveness analysis of this market has also been included so as to evaluate the segments that are anticipated to be profitable during the forecast period. The encryption software market has been segmented based on applications such as disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption. The report provides forecast and estimates for each application in terms of market size during the study period. Each application has been further analyzed based on regional and country levels.
The report also studies the competitive landscape of the global market with company profiles of players such as Microsoft Corporation, Sophos Ltd., Check Point Software Technologies, Trend Micro, Inc., Symantec Corporation, IBM Corporation, SAS Institute, Inc., Intel Corporation (Mcafee), EMC Corporation, Winmagic, INC., and Bloombase, Inc. Geographically, the encryption software market has been segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The study details country-level aspects based on each segment and gives estimates in terms of market size.
Table Of Contents – Overview 1.Introduction 2.Executive Summary 3.Market Analysis Of Encryption Software 4.Encryption Software Market Analysis By Deployment Type 5.Encryption Software Market Analysis By User Type 6.Encryption Software Market Analysis By Application 7.Encryption Software Market Analysis By Industry Vertical 8. Encryption Software Market Analysis By Geography 9.Competitive Landscape Of Encryption Software Companies 10.Company Profiles Of Encryption Software Industry
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Encryption Software Market 2019 Latest Technology and Future Scope by Top Players - Proofpoint, Sophos Holdings, Trend Micro, McAfee, Symantec
Encryption Software Market 2019 Latest Technology and Future Scope by Top Players – Proofpoint, Sophos Holdings, Trend Micro, McAfee, Symantec
Global Encryption Software Market Analysis to 2025 is a specialized and in-depth study of the Encryption Software industry with a focus on the global market trend. The report aims to provide an overview of global Encryption Software market with detailed market segmentation by product/application and geography. The global Encryption Software market is expected to witness high growth during the…
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Encryption Software Market|Application Landscape Including BFSI & Healthcare 2024
16 Nov 2018 - By 2024 the global Encryption Software Market size is expected to reach $ 8,402.9 million, which is growing at a CAGR of more than 14% from 2016-2024. With the growth in the trends like Internet of Things (IoT) and Bring Your Own Device (BYOD), concerns about data security are on all-time high. These trends have further caused cyber-attacks, thefts, data breaches and commercial espionage which will drive the demand for protective software.
Developments in the terms of hardware and software in the fields of mobile technology and their increased penetration are further estimated to fuel the demand over the forecast period. The inclination of firms towards cloud computing, demand for sensitive data protection, high data volume requirements has led to increase in the demand of encryption software.
Verticals such as BFSI and healthcare are required to comply with stringent regulations set by authorities such as the PCI, HIPPA and DSS who have formulated data security solutions which has led to application of security solutions all over the world. Intellectual properties of enterprises and users have become prone to infringement and theft on account of increase in usage of internet and rapid digitization. These risks make companies implement the security solutions. Protection provided to the sensitive data and intellectual properties of enterprises is expected to drive the market over the next few years.
However implementation of such solutions which are fairly expensive can cause challenges in the fields of budgets. Furthermore, application of these provisions is considerably time-consuming and complex, though the kind of security and safety provided balance-out the challenges such as time-consumption.
Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/encryption-software-market/request-sample
Due to well-established telecom and IT sector, North America consumed a major share. Generation of huge amounts of data that needs to be protected was the major reason behind this hiked consumption. Furthermore, increased usage of personal computers and the internet are expected to raise the demand of encryption software over the forecast period.
Browse Full Research Report @ https://www.millioninsights.com/industry-reports/encryption-software-market
"Cloud encryption to witness substantial growth over the forecast period"
By 2024, the segment that is expected to witness a growth at CAGR of 19% is the cloud computing segment. Data storage being major resource of information for industries such as retail, finance and banking has caused them to incline toward cloud computing. Flexibility and scalability offered by these solutions are the main reasons for the adoption of encryption software.
At the same time with the increase in adoption of cloud computing, the need to protect the data has also escalated. Additionally, the propagation of expert data analytics has caused raise in the rate of internet usage leading to increased use of cloud encryption software. The regulated standards are set owing to the increase in the rate of growing cyber-attacks and mobile-theft.
"BFSI dominated the application segment"
BFSI segment in 2015 captured considerable market share consuming over $600 million and is expected to grow at CAGR of 15 % by 2024. Sudden spike in the number of cyber-attacks and the ever changing nature of the industry has resulted into increase in demand of security of financial data that is sensitive from theft and infringements by lowering risks and maximizing returns. The growth in adoption of cloud technologies in banking sector is expected to drive the market for next few years.
Traditional data transfer techniques such as DVDs, email and other data transfer techniques are adopted by banks for transferring the data which are highly risky keeping in mind the level at which the infringers operate. Increase in demand of such software is expected due to implementation of such techniques. Furthermore, rise in dependency on the online method of banking and the need to protect the transactions will fuel the need of encryption software over the forecast period.
"Asia Pacific to experience robust growth; China exhibits growth potential"
In 2015, the Asia-Pacific region accounted for $500 million which is expected to increase due to organizations shifting to cloud storage facilities due to their incapacity to develop data storage infrastructures, which will surely increase the risks of losses of data, infringements and thefts escalating the demand. Countries like China and India have tremendous rate of development manufacturing sector as well as IT and telecom sector which will drive the market in the forecast period.
"The encryption software market fragmented in nature"
The key players in the market are firms like Microsoft Corporation, Cisco Systems, Symantec, EMC Corporation, Bloombase, Sophos, IBM Corporation, Intel Security and Trend Micro. These firms offer solutions to both large scale businesses and small & medium scale businesses at the same time focusing on the research and development of newer techniques of cryptography to provide optimum solutions to the clients.
See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/technology
Global Encryption Software Industry 2016 Status and Forecast, Market Size by Players, Regions, Type, Application: IBM
Qyresearchreports include new market research report Encryption Software to its huge collection of research reports.
The research report analyzes the Encryption Software in a thorough style that includes elucidating the key aspects of the market, especially the ones that are marked as likely to have a sizeable influence on its developments in the coming years. The key proponents of growth for the market, the major factors out restrain this overall growth rate, and the trends that are influencing the market are all examined in great detail in this report. Additionally, it includes a qualitative and quantitative enquiry on the factors that are likely to impact the projected growth rate of the Encryption Software in the near future.
The copious amounts of data gathered on the market over the years has made it a tough task to boil it down to the absolute necessary facts and statistics that are indigenous to the relevancy of the problems faced by the market. Many entities are also known to lack the dedicated properties and abilities for taking up an exhaustive market research based on historical data, a task whose results this report provides in their entirety.
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The report is a concentrated explanation of a broad spectrum of information on the Encryption Software. This includes factors that can influence its scope of growth in the immediate future as well as over the given forecast period. The report makes for a valuable read that can effectively empower companies and investors in tackling the core issues that are currently restraining the market and strategically reap the most benefits.
The report also provides information on the recent developments in products and technologies as currently observed in the market, along with an analysis of the overall effect that these advancements may have on the market’s future developments.
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Table of Contents
Global Encryption Software Market Research Report 2016 1 Encryption Software Market Overview 1.1 Product Overview and Scope of Encryption Software 1.2 Encryption Software Segment by Type 1.2.1 Global Production Market Share of Encryption Software by Type in 2015 1.2.2 Symmetric Encryption 1.2.3 Asymmetric Encryption 1.2.4 Hashing 1.3 Encryption Software Segment by Application 1.3.1 Encryption Software Consumption Market Share by Application in 2015 1.3.2 Whole Disk 1.3.3 Single-user File/folder Level 1.3.4 Multi-user File/folder Level 1.3.5 Database 1.3.6 Application Level 1.3.7 Email Messages 1.3.8 Network Traffic 1.4 Encryption Software Market by Region 1.4.1 North America Status and Prospect (2011-2021) 1.4.2 Europe Status and Prospect (2011-2021) 1.4.3 China Status and Prospect (2011-2021) 1.4.4 Japan Status and Prospect (2011-2021) 1.4.5 Korea Status and Prospect (2011-2021) 1.4.6 Taiwan Status and Prospect (2011-2021) 1.5 Global Market Size (Value) of Encryption Software (2011-2021)
2 Global Encryption Software Market Competition by Manufacturers 2.1 Global Encryption Software Production and Share by Manufacturers (2015 and 2016) 2.2 Global Encryption Software Revenue and Share by Manufacturers (2015 and 2016) 2.3 Global Encryption Software Average Price by Manufacturers (2015 and 2016) 2.4 Manufacturers Encryption Software Manufacturing Base Distribution, Sales Area and Product Type 2.5 Encryption Software Market Competitive Situation and Trends 2.5.1 Encryption Software Market Concentration Rate 2.5.2 Encryption Software Market Share of Top 3 and Top 5 Manufacturers 2.5.3 Mergers & Acquisitions, Expansion
3 Global Encryption Software Production, Revenue (Value) by Region (2011-2016) 3.1 Global Encryption Software Production by Region (2011-2016) 3.2 Global Encryption Software Production Market Share by Region (2011-2016) 3.3 Global Encryption Software Revenue (Value) and Market Share by Region (2011-2016) 3.4 Global Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.5 North America Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.6 Europe Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.7 China Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.8 Japan Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.9 Korea Encryption Software Production, Revenue, Price and Gross Margin (2011-2016) 3.10 Taiwan Encryption Software Production, Revenue, Price and Gross Margin (2011-2016)
4 Global Encryption Software Supply (Production), Consumption, Export, Import by Regions (2011-2016) 4.1 Global Encryption Software Consumption by Regions (2011-2016) 4.2 North America Encryption Software Production, Consumption, Export, Import by Regions (2011-2016) 4.3 Europe Encryption Software Production, Consumption, Export, Import by Regions (2011-2016) 4.4 China Encryption Software Production, Consumption, Export, Import by Regions (2011-2016) 4.5 Japan Encryption Software Production, Consumption, Export, Import by Regions (2011-2016) 4.6 Korea Encryption Software Production, Consumption, Export, Import by Regions (2011-2016) 4.7 Taiwan Encryption Software Production, Consumption, Export, Import by Regions (2011-2016)
5 Global Encryption Software Production, Revenue (Value), Price Trend by Type 5.1 Global Encryption Software Production and Market Share by Type (2011-2016) 5.2 Global Encryption Software Revenue and Market Share by Type (2011-2016) 5.3 Global Encryption Software Price by Type (2011-2016) 5.4 Global Encryption Software Production Growth by Type (2011-2016)
6 Global Encryption Software Market Analysis by Application 6.1 Global Encryption Software Consumption and Market Share by Application (2011-2016) 6.2 Global Encryption Software Consumption Growth Rate by Application (2011-2016) 6.3 Market Drivers and Opportunities 6.3.1 Potential Applications 6.3.2 Emerging Markets/Countries
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“According to Publisher, the Global Encryption Software Market is accounted for $2.45 billion in 2015 and is expected to reach $10.21 billion by 2022 growing at a CAGR of 22.6% during the forecast period”. Growing mobility, rising concerns related...
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