Encryption Software Market

Encryption Software Market Size and Growth Rate:

The encryption software market is anticipated to reach over $11,600 million by 2026 according to new research published by Polaris Market Research. In 2017, the BFSI segment dominated the global market, in terms of revenue. North America was to be the leading contributor to the global market revenue in 2017.

Encryption Software Market – Drivers and Growth Brief:

The growing need for protection of critical data and an increasing number of data breaches has boosted the adoption of encryption software. The rising penetration of mobile devices and the increasing trend of BYOD to primarily support the growth of the encryption software market during the forecast period. Similarly, the rising adoption of virtualization, cloud, and big data analytics has also positively influenced the encryption software market growth over the years. Furthermore, increasing investments by vendors in technological advancements coupled with the growing demand for cloud-based encryption software would accelerate the growth of this market during the forecast period. However, high costs and complexities associated with advanced encryption solutions, and lack of awareness among small and medium enterprises hinder the market growth during the forecast period. Growing demand from emerging economies and technological advancements are expected to provide numerous growth opportunities in the coming years.

Encryption Software Market – Regional Presence:

North America generated the highest revenue in the market in 2017 and is expected to lead the global encryption software market throughout the forecast period. The increase in the number of cyber-attacks, and the growing number of data breaches to drive this market growth in North America. The growing trend of BYOD, IoT, big data analytics, and virtualization necessitates the need for encryption software for data protection and data loss. The growing penetration of mobile devices and technological advancements further support market growth in the region. The increasing spending on data protection in BFSI and defense sectors in the region further to also promote encryption software market growth in the coming years. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to the growing need for data privacy across various industries in the developing countries of the region.

Prominent Companies in the Encryption Software Market Analyzed in the Report are:

• Microsoft Corporation
• Symantec Corporation
• IBM Corporation
• EMC Corporation
• Cisco Systems, Inc
• Intel Security
• Check Point Software Technologies Ltd
• Oracle Corporation
• Trend Micro, Inc
• Sophos Group PLC

Encryption Software Market -  Detailed Segmentation:

Encryption Software Market- By Deployment Model:

• On-Premise
• Cloud-Based

Encryption Software Market - By Organization Size:

• Large Enterprises
• Small and Medium Businesses

Encryption Software Market - By Application:

• File  Encryption
• Disk Encryption
• Database Encryption
• Cloud Encryption
• Communication Encryption
• Others

Encryption Software Market - By End-User:

• BFSI
• Healthcare
• Aerospace and Defense
• Government and Public Utilities
• Retail

• Others

Encryption Software Market- By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa