The global data encryption market is expected to exhibit strong growth over the forecast period till 2023, according to the latest research report from Market Research Future (MRFR). The report presents a detailed overview of the global data encryption market by profiling the historical data about the market and providing detailed forecasts regarding the market’s likely growth trajectory over the forecast period. Primary as well as secondary data about the market is presented in full detail in the report. Future forecasts for every aspect of the global data encryption market are presented in detail in the report. Leading players in the global data encryption market are also profiled in detail in the report. The report also profiles the impact of the global COVID-19 pandemic on the global data encryption market.
Leading Players in Global Data Encryption Market Include:
FireEye Inc., Vormetric Inc., Gemalto, Netapp Inc., Oracle Corporation, Intel Security, HP, Symantec Corporation, Microsoft Corporation, and IBM Corporation.
Covid 19 Pandemic Crisis on Data Encryption Market with Complete Table of Content and Free Sample at:
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Data encryption is the process of converting data from a readable format to an encoded format which can only be deciphered with a decryption key. Data encryption protects the data in a fairly simple manner and provides data security for data transferred over networks. The growing threat of data breaches and cyber attacks in the modern world has been the major driver for the global data encryption market over the last few years. Thousands of organizations across various sectors have been attacked digitally over the last few years, with the complexity of cyber attacks increasing over time. With increasing refinement in cyber protection tools, cyber attackers have improved their sophistication, with increasingly sophisticated cyber attack tools being used to breach networks and gain confidential information. This has led to a growing demand for data encryption protocols over the last few years.
The BFSI sector has emerged as a major end user of data encryption tools over the last few years. The increasing adoption of online and mobile banking has led to a growing demand for data security tools in the BFSI sector. The convenience of online and mobile banking comes at the price of the online information being prone to attacks from cyber attacks. This has led to a growing demand for data encryption technology from the BFSI sector. The increasing complexity of online and mobile banking operations has made data encryption technology a must-have for BFSI entities. This is likely to remain a major driver for the global data encryption market over the forecast period. The defense sector has also been a major end user of data encryption technology over the last few years.
Segmentation:
The global data encryption market is segmented on the basis of method, deployment, organization size, end user, and region.
By method, the global data encryption market is segmented into symmetric and asymmetric. Symmetric data encryption uses the same key to encrypt and decrypt the data, whereas asymmetric data encryption uses a different key to decrypt the data. This makes asymmetric data encryption more secure than symmetric data encryption.
By deployment, the global data encryption market is segmented into cloud and on-premise. The demand for cloud data encryption technology is increasing due to the increasing usage of cloud architecture for data storage in the commercial sector.
By organization size, the global data encryption market is segmented into large organizations, and small and midsized organizations.
By end user, the global data encryption market is segmented into government, BFSI, healthcare, manufacturing, automotive, IT and telecom, aerospace and defense, and others.
Regional Analysis:
North America is likely to dominate the global data encryption market over the forecast period due to the presence of several leading players in the region. Awareness about data security protocols is also high in the region, leading to a growing demand for data encryption technology.
Asia Pacific is expected to exhibit the highest growth rate over the forecast period.
Table of Content:
1 Executive Summary
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4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain Of Global Data Encryption Market
5 Market Overview Of Global Data Encryption Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Continued…….
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