The global encryption software market is expected to grow at noteworthy CAGR around 17% throughout the forecast period 2018 to 2026 and reach around US$ 8.7 billion by 2026.
The report provides analysis of global Encryption software market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year.
Software organizations around the globe have been quickly adopting encryption software in order to improve business capability and enhance data security. Encryption based on software is an emerging solution for data security. Encryption software supports to protect the privacy of the information stored in files as well as and data transferring over networks. It encrypts and decrypts data at-rest and data-in-transit using software. Hence, encryption software helps to boost the security of private information by rendering the data unreadable. Therefore, the adoption of encryption software is projected to increase due to the rise in increasing incidence of cyber attacks.
increasing technological advancements, rising concerns about data security, increasing trend of Bring Your Own Device (BYOD) and Internet of Things (IoT) among organizations, advancements in mobile technology and growing penetration of smartphones are some of the key factors that are fueling the encryption software market growth across the globe. Advancements in mobile technology and growing penetration of smartphones are some of the fundamental factors driving the growth of the global encryption software market. Increasing usage of mobile devices across various enterprises has amplified the risk of data loss which made encryption software essential for safe data transmission. In addition, organizations have become more susceptible to data loss, cyber-attacks, theft, data breach and commercial surveillance. Hence, companies are mainly focusing on implementing the encryption software. Ever-increasing dependence on online transactions and need to protect these transactions from data thefts are anticipated to create an immense opportunities for the global encryption software market throughout the forecast period. Also, company’s status or brand image is a serious element of its marketing and hence needs strong protection. Data security is important as a lot of private customer information is at risk of being leaked. Hence, the adoption of security solutions is growing in order to prevent any incidence of data theft, loss or leak. However, purchase and execution of these solutions require high costs and this may hinder the global market growth during the forecast time frame.
Encryption software Market by Deployment
Encryption software Market by Application
Encryption software Market by End Use Industry
Global Encryption software Market, by Geography
The market research study on “Encryption Software Market (By Deployment: On-Premise, Cloud; By Application: Disk Encryption, File/Folder Encryption, Database Encryption, Web Communication Encryption, Network Traffic Encryption, Cloud Encryption, Others; By End Use Industry: BFSI, Healthcare, Retail, Government & Public Administration, Telecom, Defense & Aerospace, Education, Manufacturing) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers detailed insights on global encryption software market segments with market dynamics and their impact. The report provides insights on global encryption software market by deployment, application, end use industry and major geographic regions. The report also covers basic technology development policies.
The global Encryption software market is characterized by the presence of experienced and established players. Some of the key players include Microsoft Corporation, Cisco Systems, Thales e-Security, Symantec, EMC Corporation, Sophos, IBM Corporation, Intel Security, Bloombase, Trend Micro, and Check Point Software Technologies.