Encryption Software Market– Overview

The uptick in the concept of BYODs is predicted to create a constructive basis for the encryption software market 2020. The information & communications technology industry reports made by Market Research Future, which elaborates on market options for expansion. A 24% CAGR is predicted to motivate the market to accomplish revenues worth USD 13 billion by 2023.

The surge in demand for software encryption is expected to drive the progress of the Encryption Software Market size in the coming period. Also, the rise in the level of confidential information that is saved on computers is expected to stimulate the encryption software market in the approaching period. The upsurge in the frequency of cyber-attacks is estimated to further boost the development of the market.

Industry Updates:

Mar 2020 Jetico, a renowned pioneer in data encryption, has announced back ip for Mac computers with a T2 security chip. With this update, the BestCrypt Volume Encryption, the Enterprise Edition becomes the industry’s most inclusive enterprise encryption software for macOS and Windows.

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Key Players:

The prominent players in the Encryption Software Market are – 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.

Segmentation:

The global encryption software market is segmented on the basis of application, deployment, service type, organization size, and end-use vertical.

  • By application, the global encryption software market is segmented into disk encryption, file/folder encryption, communication encryption, database encryption, and cloud encryption. Disk encryption is likely to hold the largest share in the global encryption software market over the forecast period.
  • By deployment, the market is divided into on-premise and cloud-based. Cloud deployment of encryption software is likely to be increasingly popular in the global encryption software market over the forecast period.
  • By service type, the encryption software market is segmented into professional and managed services.
  • By organization size, the global encryption software market is segmented into large enterprises and small & midsized enterprises.
  • By end use, the global encryption software market is segmented into healthcare, government and public sector, IT and telecommunications, BFSI, retail, aerospace and defense, and others.

Global Encryption Software Market: Regional Analysis

North America is likely to dominate the global encryption software market over the forecast period due to the growing presence of cybercrime in the region. This has led to an increasing interest in encryption software in recent years, as corporate entities have gotten smarter regarding internet security. The strong presence of leading encryption software developers in North America is also likely to ensure steady growth of the encryption software market in the region over the forecast period. Widespread adoption of digital solutions in the BFSI, government, and healthcare sectors in North America is likely to propel the demand for data encryption services in the coming years, while the aerospace and defense sector is also likely to emerge as a key consumer due to the strong presence of the sector in the U.S.

Europe is the second largest regional market for encryption software and is expected to exhibit steady growth over the forecast period.

Asia Pacific is likely to exhibit the fastest growth over the forecast period due to the growing demand for digitalization of data. The growing number of small and midsized enterprises in this region is also likely to be a major driver for the encryption software market over the forecast period.

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TABLE OF CONTENTS

LIST OF TABLES

Table 1 Encryption Software Market, By Application

Table 2 Encryption Software Market, By Deployment

Table 3 Encryption Software Market, By Service

Table 4 Encryption Software Market, By Organization Size

Table 5 Encryption Software Market, By Vertical

Table 6 Encryption Software Market, By Region

Table 7 North America Encryption Software Market, By Application

Table 8 North America Encryption Software Market, By Deployment

Table 9 North America Encryption Software Market, By Service

Table 10 North America Encryption Software Market, By Organization Size

Table 11 North America Encryption Software Market, By Vertical

Table 12 U.S. Encryption Software Market, By Application

Table 13 U.S. Encryption Software Market, By Deployment

Table 14 U.S. Encryption Software Market, By Service

Table 15 U.S. Encryption Software Market, By Organization Size

Table 16 U.S. Encryption Software Market, By Vertical

Table 17 Canada Encryption Software Market, By Application

Continued…

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