Encryption Software Market Size, Gross Margin Analysis, Business Growth, Analytical Overview, Development Status, Competitive Landscape, Sales Revenue, Future Plans and Trends by Forecast 2023

Market Research Future
Market Research Future published a research report on “Encryption Software Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Encryption software refers to program based software that uses cryptography technique to prevent unauthorized access to digital information. Encryption process occurs when data is passed through a series of mathematical operations and generates alternate form of that data, these series of operations is known as algorithm.  Both of these data produced can be differentiated. Unencrypted data refers to plaintext and encrypted data refers to cipher text. The key role of encryption software lies in generating cipher text which cannot be easily returned into original plain text.

Software based encryption is the fastest emerging end-point data security solution in the information technology and telecommunication sector. Encryption software plays an important role in protecting digital information against cybercrime. It can be used to provide high level of security to emails, files stored on hard drives or floppy disk, network communication and other confidential information that requires protection. Increased frequency of cyber-attacks on enterprises is a factor driving the market. Cloud based encryption software segment accounts for highest market share. The need for encryption software is mainly due to increasing cyber-attacks on critical and confidential data. The study indicates, that increase in adoption of bring your own device (BYOD) which pertains to boost employee efficiency has further increased the issue of data loss and unauthorized access to critical data. Disk based encryption is expected to have highest market share due to increase in demand of hardware encryption to secure data.

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The segmentation of encryption software market is done on the basis of application. That includes disk encryption, file or folder encryption, communication encryption, database encryption and cloud encryption. Disk encryption prevents unauthorized access to data, as it prevents data by converting into unreadable codes which cannot be accessed by unauthorized people. Disk encryption software or hardware comprised of disk encryption technology, encrypt every bit of data that goes on a floppy disk.

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.

Segments:

Encryption Software Market for segment on the basis of by application, by deployment, by service, by organization size and by vertical.

Encryption Software Market by Application:

  • Disk Encryption
  • File/Folder Encryption
  • Communication Encryption
  • Database Encryption
  • Cloud Encryption

Encryption Software Market by Deployment:

  • Cloud
  • On-Premise

Encryption Software Market by Service:

  • Professional Service
  • Managed Service

Encryption Software Market by Organization Size:

  • Small & Medium Enterprises
  • Large Enterprises

Encryption Software Market by Vertical:

  • Healthcare
  • Government & Public Sector
  • IT & Telecommunication
  • BFSI
  • Retail
  • Aerospace & Defense
  • Others

Regional Analysis:

The regional analysis of encryption software market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for higher market share. North America region possess highest market share due to major encryption software players present in the region. Asia-Pacific is expected to be fastest growing market as small and medium enterprises are implementing encryption solution for preventing unauthorized  access to data and cybercrimes.

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Intended Audience

  • Investors and consultants
  • System Integrators
  • Government Organizations
  • Research/Consultancy firms
  • Technology solution providers
  • IT Solution Providers

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