Global Encryption Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global encryption software market in its upcoming report titled, “Global Encryption Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global encryption software market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global encryption software market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global encryption software market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global encryption software market report has been segmented on the basis of application, deployment, industry type, and region.
Encryption is a method which is used to convert plain text into a cipher format at the time of transmission. This method uses mathematical algorithms for conversion of information into an unreadable format which can be retrieved using a secret code only. The strength of an encryption code is calculated by its length which is determined by the number of encryption bits used. The primary goal of encryption software is to encrypt and decrypt data. Encryption software provides safety to confidential information stored in files and folders and data transmitted over networks as per security requirements of organization.
Organizations globally are adopting encryption software for data safety and data privacy which is a key factor driving the growth of the global encryption software market. In addition, rising demand for cloud-based databases, and high adoption rate of encryption software among various end-use industries such as banking, financial services and insurance (BFSI), healthcare, and government & public sector industries are major factors expected to fuel growth to the global encryption software market over the forecast period.
However, increasing operational costs and emergence of hardware-based full disk encryption are key factors restraining the growth of the global encryption software market. Additionally, lack of awareness about encryption software’s, and regulatory restrictions on crypto-software are major factors expected to hamper the growth of the global encryption software market to a significant extent.
Currently, the market in North America accounted for highest revenue share in the global encryption software market, owing to increasing adoption of encryption software in major organizations, followed by market in Europe. The market in Asia Pacific is expected to register highest CAGR of XX.X%, owing to increasing instances of cyber-attacks, and high number of data thefts in countries in the region. Additionally, growing awareness about encryption of data in emerging economies in the Asia Pacific region such as China, Japan, and India is further expected to fuel growth to the global encryption software market over forecast period.
Global Encryption Software Market Segmentation:
Global encryption software market segmentation by application:
- Disk encryption
- File/folder encryption
- Database encryption
- Communication encryption
- Cloud encryption
Global encryption software market segmentation by deployment:
Global encryption software market segmentation by industry type:
- Banking, financial services and insurance (BFSI)
- Government & public sector
- Telecom & retail
- Aerospace & defense
Global encryption software market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Sophos Ltd.
- Check Point Software Technologies Ltd.
- Trend Micro Inc.
- Symantec Corporation
- IBM Corporation
- SAS Institute Inc.
- Intel Security Group (McAfee)
- EMC Corporation
- WinMagic Inc.
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