Encryption Software Market Market - Overview
Encryption software market forecast represents that the estimated market value of 13 billion at a CAGR 16.40% by the year 2030
Encryption software signifies the set of instruction based software that implements the cryptography technique to inhibit unauthorized access to digital information. Encryption process follows the processed information is transferred through a series of mathematical operations and creates the alternate form of that data, these series of processes is known as algorithm. The increasing cyber-attacks and surging demand for high level of security system in order to safeguard the confidential data are expected to drive the market over the forecast period. Additionally, rising adoption of bring your own devices (BYOD) in advanced economies are expected to drive the market over the review period. On the other hand, high implementation cost and lack of awareness are expected to
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Key Players
Some of the major players in Global Encryption Software Market include Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), CheckPoint Software Technologies Ltd. (Israel)., Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and WinMagic Inc. (Canada) among others, are profiled in MRFR Analysis and are at the forefront of competition in the global Encryption Software market.
Encryption Software Market Market - Segmentation:
Segmentation by Deployment: Cloud and on Premise
Segmentation by Service: Professional Service and Managed Service.
Segmentation by Organization Size: Small & Medium Enterprises and Large Enterprises.
Segmentation by Application: Disk Encryption, File/Folder Encryption, Communication Encryption, Database Encryption, and Cloud Encryption.
Segmentation by Vertical: Healthcare, Government & Public Sector, IT & Telecommunication, BFSI, Retail, Aerospace & Defense, and Others.
Segmentation by Region: North America, Europe, Asia Pacific, Rest of the World.
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Regional Analysis
North America is expected to dominate the global encryption software market with the largest market share in the region. The U.S and Canada are the leading countries in the North America region. This is due to rapid development infrastructure and presence of large companies such as Microsoft Corporation and IBM Corporation in the region which is expected to drive the market. Asia Pacific region is expected to have the significant growth over the forecast period. China, India, and Japan are the prominent countries leading in the Asia Pacific region attributed to surging and increasing small start-ups firms based on encryption software.
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