Encryption Software Market, By End Use (BFSI, IT & Telecom, Retail, G&PA, Healthcare, Defense & Aerospace, Education, and Manufacturing), Deployment (Cloud, and On-premise), Application (Disk Encryption, File/Folder Encryption, Database Encryption, Web Communication Encryption, Network Traffic Encryption, Cloud Encryption, Others), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2028

The Global Encryption Software Market size was valued at USD 6.75 billion in 2019 and is anticipated to grow at a CAGR of 18.96% during the forecast period. The encryption software is mostly enhances the security of the data from unauthorized users used to encrypt, and decrypt the important data stored in the files/folders, hard drives, removable media as well as the data travelling over the internet network through emails.

Key Factors Impacting the Growth of Encryption Software Market:

  • Growing proliferation of cloud and virtualization technologies
  • Strict regulations on cybersecurity and data privacy compliances
  • Recent trend of Bring Your Own Devices (BYOD) among enterprises
  • Growing concerns of data safety and data privacy compliance regulations
  • Increasing concerns over securing enterprise Intellectual Property (IP) assets
  • Increase in complexity and data breaches and increased compliance regulation among the organizations

However, complicity associates associated with the development and deployment of encryption software is expected to hinder the growth of the global encryption software market during the forecast period.

The encryption software market segmentation is based on end use, deployment, application, and region.

End Use Outlook:

Based on end use, the global encryption software market is further segmented into BFSI, IT & telecom, retail, G&PA, healthcare, defense & aerospace, education, and Manufacturing. The BFSI segment is expected to lead the market with increasing number of cyberattacks, resulting in increased need to protect sensitive financial data from breaches, high dependency on online transactions and the need to safeguard for the data and adoption of cloud solutions, all over the world. The retail segment with high dependence on online transactions and need to protect the product is expected to held substantial market share in the global encryption software market during the forecast period.

Deployment Outlook:

Based on deployment the global Encryption software market is divided into cloud and on premise. Cloud based deployment mode with increasing adoption of cloud storage solutions by several companies and expanding cloud infrastructure is expected to register the highest growth rate during the forecast period.

 For Application Outlook:

Based on application, the encryption software market has been segmented into disk encryption, file/folder encryption, database encryption, web communication encryption, network traffic encryption, cloud encryption, others.  The disk encryption application segment held the largest market share in the global encryption software market owing to very high safety offered by the disk encryption as even if they get stolen or misplaced, the access to their contents remains limited to authorized user.

Regional Outlook:

Based on the region, the global encryption software market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. The North America region includes countries like US, Canada, and Mexico. Western Europe region includes countries like Germany, UK, France, Italy, Spain, and others. Eastern Europe region includes countries like Russia, Turkey, and others. Asia Pacific region includes countries like China, Japan, India, South Korea, Australia, and others. The Middle East region includes countries like UAE, Saudi Arabia, Qatar, Iran, and others. Rest of the World includes South America and Africa.

North America region with high penetration of IoT, cloud services, and BYOD and flourishing retail and IT & telecom sectors in countries like US and Canada held the largest market share in the global encryption software market 2019.

Europe region with continuously increasing concerns about security, owing to the utilization of the Internet and personal computers in countries like UK, Germany, France and Spain are expected held the substantial market chunk in the global encryption software market during the forecast period.

In terms of revenue Asia Pacific is expected to register highest growth rate through the forecast period. The advancements in the manufacturing sector in countries including India and China, with booming retail and IT & telecom sectors and high risk of thefts and data losses are the factors driving the demand for the encryption software in the Asia pacific region.

The report analyzes factors affecting the Encryption software market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the Encryption software market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

Major companies operating in the global encryption software market are investing in research and development. Key market players are majorly investing in new compositions and product developments to increase their respective markets shares. The key leading players in the market include MicroFocus, Microsoft Corporation, Panda Security, Proofpoint, Sophos Ltd, Symantec Corporation (Broadcom, Inc.), AO Kaspersky Lab, Bitdefender, Cisco Systems, Inc., Check Point Software Technologies Ltd., Ciphercloud.com, Dell Technologies Inc., ESET, spol s.r.o., IBM Corporation, F-secure, McAfee, LLC (Intel), Thales eSecurity, and Trend Micro, Inc, and among others.

This report also includes the profiles of key Encryption software market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Encryption Software Market:

  • In 2017, the American multinational technology company Google LLC deployed public-key cryptography solutions on more than 85,000 of its employee devices. This resulted in zero cyberattacks and phishing related incidents on its employee devices in July 2018.

What Does This Report Provide?

This report provides a detailed understanding of the global encryption software market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By End Use

  • BFSI
  • IT & Telecom
  • Retail
  • G&PA
  • Healthcare
  • Defense & Aerospace
  • Education
  • Manufacturing

By Deployment

  • Cloud
  • On-premise

By Application

  • Disk Encryption
  • File/Folder Encryption
  • Database Encryption
  • Web Communication Encryption
  • Network Traffic Encryption
  • Cloud Encryption
  • Others

By Region:

  • North America Encryption Software Market
    • By Country (US, Canada, Mexico)
    • By End Use
    • By Deployment
    • By Application
  • Europe Encryption Software Market
    • By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
    • By End Use
    • By Deployment
    • By Application
  • Asia Pacific Encryption Software Market
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By End Use
    • By Deployment
    • By Application
  • Middle East & Africa Encryption Software Market
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By End Use
    • By Deployment
    • By Application
  • South America Encryption Software Market
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By End Use
    • By Deployment
    • By Application

Reasons to Buy This Report:

  • Market size estimation of the encryption software market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

  • We provide customization of the study to meet specific requirements:
  • By Segment
  • By Sub-segment
  • By Region/Country

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