Encryption Software Market, By Service (Professional Service, Managed Service), By Deployment (Cloud, On-Premise), By Organization Size (Small & Medium Enterprises, Large Enterprises), By Application (File/ Folder Encryption) - Forecast 2027

ID: VPR/ICT/1175 Publishing Year: January 2022 Pages: 119 Format:   


Encryption Software Market Overview:

Data encryption is the process of converting readable data into an encoded format that can only be read or processed with the help of a decryption key. Data encryption ensures the integrity of user information transmitted over the network in a simple and effective manner. The symmetric-key and asymmetric-key methods are the two most common data encryption methods. The symmetric approach uses the same key for both encryption and decryption of data, whereas the asymmetric method employs two different keys for encryption and decryption of data at both ends.

Encryption is critical for many reasons, not just surfing. A hacker or laptop thief won't be able to parley their possession into identity theft, bank account takeover, or worse if you encrypt all of the sensitive papers on your computer. Encryption software can be used to protect active data moving over the internet or private networks, as well as idle data kept on physical devices, in addition to businesses' existing cybersecurity policies. Because encrypted data is resistant to hackers in cases of data theft or entry into physical devices, firms can lessen their reliance on standard cybersecurity solutions.

Key Players:

  • CheckPoint Software Technologies Ltd. (Israel)
  • Microsoft Corporation (U.S.)
  • Sophos Ltd. (U.S.)
  • EMC Corporation (U.S.)
  • Trend Micro Inc. (Japan)
  • Intel Security Group (McAfee) (U.S.)
  • Symantec Corporation (U.S.)
  • SAS Institute Inc. (U.S.)
  • IBM Corporation (U.S.)

Market Drivers:

The Encryption Software Market is growing at a rapid pace all over the world, and it is likely to reach peak levels in the coming years. The encryption software market is growing due to an increase in end-point security solution implementation in the IT and telecommunications sectors. The purpose of encryption software is to secure digital information against cybercrime or attack. The Encryption Software Business provides high-level security for files stored on a floppy disc or hard drive, emails, network traffic, and any other secret information that needs to be protected. According to a review of the Encryption Software Market, an increase in the number of occurrences of cybercrime or cyber-attacks in businesses has led to the growth of the Encryption Software Market.

BYOD, or bring your own device, has boosted employee productivity while also increasing the risk of unwanted data access and data loss. Improvements in global market trends will aid in the protection of such data against cybercrime.

Opportunities:

As the number of cyber-attacks in enterprises rises, so does the demand for encryption software. Due to the availability of confidential information that may lead to significant profits for cyber intruders, businesses have become an easy target for cybercrime. Because there is more digital information, Encryption Software is required to protect crucial data and files from illegal access.

With the development of digitization, data protection has become vital, which has increased the market's potential. It is typical at businesses for employees to bring their own devices, but this increases the danger of data loss and unwanted access to data. Encryption software uses unreadable codes to protect such data, enhancing the Global Market's Growth prospects in the coming years.

Market Segmentation:

Component, deployment model, enterprise size, function, industry vertical, and region are all used to segment the Worldwide Encryption Software Market. It is divided into two types of components: software and service. The market is divided into on-premise and cloud deployment models. Large enterprises and small and medium-sized enterprises (SME's) are the two types of businesses. The market is divided into four categories based on function: disc encryption, communication encryption, file/folder encryption, and cloud encryption. BFSI, IT/telecom, government & public, retail, healthcare, aerospace & defence, media & entertainment, and others are the industry verticals. North America, Europe, Asia-Pacific, and LAMEA are the regions studied.

Regional Analysis:

In 2018, Asia Pacific accounted for about a quarter of total sales. Due to a lack of storage infrastructure, which has encouraged enterprises to store data in the cloud, the area will be the most potential destination for market players over the projected period. As a result, the risk of theft and data loss is increasing, driving up demand for Encryption Software.

In addition, the regional market has grown due to increased adoption of IoT, cloud services, and BYOD. Rapid developments in manufacturing in nations like as India and China, together with thriving retail and IT & telecom industries, are expected to boost software demand in the coming years.

Type Here for table of content.


PURCHASE OPTIONS




    ADD TO CART

CONTACT US
CALL US ON
( +91-935-919-4956 )

CONTACT EMAIL
[email protected]
PURCHASE OPTIONS




    ADD TO CART

CONTACT US
CALL US ON
( +91-935-919-4956 )

CONTACT EMAIL
[email protected]