The global Encryption Software Market Size research report offers the definition, market shares, drivers, restraints, opportunities, and challenges in an voluminous format. On the basis of Type, the market is further categorized into based on the regions, the market is distributed into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. This markets competitive manufactures and the upcoming manufactures are studied with their research. Revenue, production, price, market share of these players is mentioned with detailed information.
Encryption Software Market
study offers an exhaustive summary of the vendor landscape, competitive
analysis, and key strategies to gain ruthless advantage. Encryption Software
Market Forecast provides sizing and growth opportunities. It provides
comprehensive insights on the latest industry trends, forecast, and growth
drivers in the market. it also includes a detailed analysis of growth drivers,
challenges, and investment opportunities and delivers a complete overview of
segments and the regional outlook of the market.
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"The need to safeguard
corporate data is driving the encryption software market"
By 2024, the global
Encryption Software Market size is estimated to reach USD 8,402.9 million,
which is growing at a CAGR of more than 14% over the forecast period. With the
growth in the trends like Internet of Things (IoT) and Bring Your Own Device
(BYOD), concerns about data security are on all-time high. These trends have
further caused cyber-attacks, thefts, data breaches and commercial espionage
which will drive the demand for protective software.
Developments in the terms
of hardware and software in the fields of mobile technology and their increased
penetration are further estimated to fuel the demand over the forecast period.
The inclination of firms towards cloud computing, demand for sensitive data
protection, high data volume requirements has led to increase in the demand of
encryption software.
Verticals such as BFSI and
healthcare are required to comply with stringent regulations set by authorities
such as the PCI, HIPPA and DSS who have formulated data security solutions
which has led to application of security solutions all over the world. Intellectual
properties of enterprises and users have become prone to infringement and theft
on account of increase in usage of internet and rapid digitization. These risks
make companies implement the security solutions. Protection provided to the
sensitive data and intellectual properties of enterprises is expected to drive
the market over the next few years.
However implementation of
such solutions which are fairly expensive can cause challenges in the fields of
budgets. Furthermore, application of these provisions is considerably
time-consuming and complex, though the kind of security and safety provided
balance-out the challenges such as time-consumption.
Due to well-established
telecom and IT sector, North America consumed a major share. Generation of huge
amounts of data that needs to be protected was the major reason behind this
hiked consumption. Furthermore, increased usage of personal computers and the
internet are expected to raise the demand of encryption software over the
forecast period.
"Cloud encryption to
witness substantial growth over the forecast period"
By 2024, the segment that
is expected to witness a growth at CAGR of 19% is the cloud computing segment.
Data storage being major resource of information for industries such as retail,
finance and banking has caused them to incline toward cloud computing.
Flexibility and scalability offered by these solutions are the main reasons for
the adoption of encryption software.
At the same time with the
increase in adoption of cloud computing, the need to protect the data has also
escalated. Additionally, the propagation of expert data analytics has caused
raise in the rate of internet usage leading to increased use of cloud
encryption software. The regulated standards are set owing to the increase in
the rate of growing cyber-attacks and mobile-theft.
"BFSI dominated the
application segment"
BFSI segment in 2015
captured considerable market share consuming over $600 million and is expected
to grow at CAGR of 15 % by 2024. Sudden spike in the number of cyber-attacks
and the ever changing nature of the industry has resulted into increase in
demand of security of financial data that is sensitive from theft and
infringements by lowering risks and maximizing returns. The growth in adoption
of cloud technologies in banking sector is expected to drive the market for
next few years.
Traditional data transfer
techniques such as DVDs, email and other data transfer techniques are adopted
by banks for transferring the data which are highly risky keeping in mind the
level at which the infringers operate. Increase in demand of such software is
expected due to implementation of such techniques. Furthermore, rise in
dependency on the online method of banking and the need to protect the
transactions will fuel the need of encryption software over the forecast
period.
"Asia Pacific to
experience robust growth; China exhibits growth potential"
In 2015, the Asia-Pacific
region accounted for $500 million which is expected to increase due to
organizations shifting to cloud storage facilities due to their incapacity to
develop data storage infrastructures, which will surely increase the risks of
losses of data, infringements and thefts escalating the demand. Countries like
China and India have tremendous rate of development manufacturing sector as
well as IT and telecom sector which will drive the market in the forecast
period.
Table of Contents:-
Chapter
1 Methodology and Scope
Chapter
2 Executive Summary
Chapter
3 Encryption Software: Market Variables, Trends & Scope
Chapter
4 Encryption Software: Product Estimates & Trend Analysis
Chapter
5 Encryption Software: Application Estimates & Trend Analysis
Chapter
6 Encryption Software: End-use Estimates & Trend Analysis
Chapter
7 Encryption Software: Industrial End-use Estimates & Trend Analysis
Chapter
8 Encryption Software: Regional Estimates & Trend Analysis
Chapter
9 Competitive Landscape
Chapter
10 Encryption Software: Manufacturers Company Profiles
Top Key Players of Encryption
Software Market :
Microsoft Corporation,
Cisco Systems, Symantec, EMC Corporation, Bloombase, Sophos, IBM Corporation,
Intel Security and Trend Micro.
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