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The Global Encryption Software Market was valued at USD 3.32 billion in 2016 and is projected to reach USD 30.54 billion by 2025, growing at a CAGR of 27.96% from 2017 to 2025.
Encryption software is a type of security program that enables encryption and decryption of a data stream at rest or in transit. It enables the encryption of the content of a data object, file, and network packet or application, so that it is secure by unauthorized users. Encryption software helps the user with several benefits that include â€" complete data protection, security across multiple devices, move data securely, maintains integrity, and ensure compliance.
1. Market Drivers
1.1 Increasing Adoption of Encryption Solutions in BFSI Domain
1.2 Growing risk on Cloud Platform due to the Exploitation of Big Data Analytics
1.3 Increasing Data loss in the On-premise Deployment Model
1.4 Increasing Demand for Integration and Cloud-based Encryption Solution in SMEs
2. Market Restraints
2.1 Less Number of Experienced Workforce
2.2 Rising Complexities with Management of Encryption Keys
2.3 Costly Encryption Solutions
2.4 Lack of Awareness in Encryption and its Methods
The Global Encryption Software Market is segmented on the application, component, organization size, deployment model, vertical, and region.
1. By Application:
1.1 Cloud encryption
1.2 Database encryption
1.3 Disk encryption
1.4 File/folder encryption
1.5 Communication encryption
2. By Component:
2.2.1 Managed Services
2.2.2 Professional Service
18.104.22.168 Training and education
22.214.171.124 Support and maintenance
126.96.36.199 Planning and consulting
3. By Organization Size:
3.1 Large Enterprises
3.2 Small and Medium Business
4. By Deployment Model:
5. By Vertical:
5.2 Telecom and IT
5.4 Aerospace and Defense
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Dell Inc
2. Thales E-Security
5. IBM Corporation
11. Trend Micro
12. Microsoft Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Encryption Software Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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