The global encryption
software market size is anticipated to reach USD 20.44 billion
by 2026 according to a new research published by Polaris Market Research. The
report “Encryption
Software Market Share, Size, Trends, Industry Analysis Report By Deployment
Model (On-Premise, Cloud-Based); By Application (File Encryption, Disk
Encryption, Database Encryption, Cloud Encryption, Communication Encryption,
Others); By Organization Size (Large Enterprises, Small and Medium Businesses);
By End-User (BFSI, Healthcare, Aerospace and Defense, Government and Public
Utilities, Retail, Others); By Regions, Segments & Forecast, 2019 –
2026” provides strong market indices and taps on future
growth parameters.
In 2018, the BFSI segment dominated the global market in terms of revenue.
North America was the leading contributor to global revenue in 2018. An urgency
to protect critical data and growing number of data lapses has boosted the
adoption of encryption software. The widespread growth of mobile devices and
increasing trend of BYOD further support the growth of this market. The rising
spread of virtualization, cloud and big data analytics has supported market
growth over the years. Growing investments in technological advancements by
vendors, coupled with growing demand for cloud-based encryption software would
accelerate the growth of encryption software market during forecast period.
However high costs related to advanced encryption solutions and an awareness
shortage among small and medium enterprises hinder growth. Growing demand from
developing economies and technological advancements are expected to provide
several growth opportunities in the future.
Get Sample Copy : https://www.polarismarketresearch.com/industry-analysis/encryption-software-market/request-for-sample
North America generated highest revenue for market in 2018 and is expected
to lead the global market throughout forecast period. The increase in number of
cyber-attacks and growing number of data breaches drive the market growth. A
growing trend of BYOD, IoT, big data analytics and virtualization evinces the
need of encryption software for data protection and data loss. A rising
penetration of mobile devices and technological advancements bolster growth in
the region. A greater spending on data protection in BFSI and defense sectors
in the region promotes growth in the region.
A rushing request from emerging economies, expanding adoption of the
software by BFSI sector and flooding demand for cloud-based encryption
solutions are factors boosting growth of product during forecast period.
Enormous walks in strong innovation, data loss among
enterprises has made encryption software very crucial for safe data
transmissions. Furthermore, as undertakings are pushing forward with
distributed computing, the product has become all the more important to prevent
data slips by safeguarding touchy information.
Get Discount Offer : https://www.polarismarketresearch.com/industry-analysis/encryption-software-market/request-for-discount-pricing
Asia Pacific is expected to display highest CAGR during forecast period
owing to urging need for data integrity at all levels in the industries in
developing countries of the region.
The companies include Microsoft Corporation, Symantec Corporation, IBM
Corporation, EMC Corporation, CISCO Systems Inc., Intel Security, Check Point
Software Technologies Ltd., Oracle Corporation, Trend Micro, Inc., and Sophos
Group Plc. among others.
