Encryption Software Market Size and Key Driving Factors Analysis Report By 2024

Encryption Software Market Latest Trends, Dynamics and Product Segments By 2024 “Developments in the terms of hardware and software in the fields of mobile technology and their increased penetration are further estimated to fuel the demand over the forecast period. "

Encryption Software Market study offers detail overview of industry with all the requisite data to support tactical business decisions and come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.

Encryption Software market report offers the latest industry trends, technological alteration and forecast data. A deepdive view of Encryption Software industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Encryption Software barriers, and feasibility study are the vital aspects evaluated in this report.

Encryption Software Market research report interprets definition, an investigation of significant progress in the market.

It provides overall industry survey, product description, wide array of applications, top players, and development forecast. It enhances understanding about that market along with new business trends.

"The need to safeguard corporate data is driving the encryption software market" By 2024, the global Encryption Software Market size is estimated to reach USD 8,402.9 million, which is growing at a CAGR of more than 14% over the forecast period. With the growth in the trends like Internet of Things (IoT) and Bring Your Own Device (BYOD), concerns about data security are on all-time high. These trends have further caused cyberattacks, thefts, data breaches and commercial espionage which will drive the demand for protective software.

Developments in the terms of hardware and software in the fields of mobile technology and their increased penet ration are further estimated to fuel the demand over the forecast period. The inclination of firms towards cloud computing, demand for sensitive data protection, high data volume requirements has led to increase in the demand of encryption software.

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Verticals such as BFSI and healthcare are required to comply with stringent regulations set by authorities such as the PCI, HIPPA and DSS who have formulated data security solutions which has led to application of security solutions all over the world. Intellectual properties of enterprises and users have become prone to infringement and theft on account of increase in usage of internet and rapid digitization. These risks make companies implement the security solutions.

Protection provided to the sensitive data and intellectual properties of enterprises is expected to drive the market over the next few years.

However implementation of such solutions which are fairly expensive can cause challenges in the fields of budgets.

Furthermore, application of these provisions is considerably time-consuming and complex, though the kind of security and safety provided balance-out the challenges such as time-consumption.

Due to well-established telecom and IT sector, North America consumed a major share. Generation of huge amounts of data that needs to be protected was the major reason behind this hiked consumption. Furthermore, increased usage of personal computers and the internet are expected to raise the demand of encryption software over the forecast period.

"Cloud encryption to witness substantial growth over the forecast period" By 2024, the segment that is expected to witness a growth at CAGR of 19% is the cloud computing segment. Data storage being major resource of information for industries such as retail, finance and banking has caused them to incline toward cloud computing. Flexibility and scalability offered by these solutions are the main reasons for the adoption of encryption software.

At the same time with the increase in adoption of cloud computing, the nee d to protect the data has also escalated.

Additionally, the propagation of expert data analytics has caused raise in the rate of internet usage leading to increased use of cloud encryption software. The regulated standards are set owing to the increase in the rate of growing cyberattacks and mobile-theft.

"BFSI dominated the application segment" BFSI segment in 2015 captured considerable market share consuming over $600 million and is expected to grow at CAGR of 15 % by 2024. Sudden spike in the number of cyber-attacks and the ever changing nature of the industry has resulted into increase in demand of security of financial data that is sensitive from theft and infringements by lowering risks and maximizing returns. The growth in adoption of cloud technologies in banking sector is expected to drive the market for next few years.

Traditional data transfer techniques such as DVDs, email and other data transfer techniques are adopted by banks for transferring the data which are highly risky keeping in mind the level at which the infringers operate. Increase in demand of such software is expected due to implementation of such techniques. Furthermore, rise in dependency on the online method of banking and the need to protect the transactions will fuel the need of encryption software over the forecast period.

"Asia Pacific to experience robust growth; China exhibits growth potential" In 2015, the Asia-Pacific region accounted for $500 million which is expected to increase due to organizations shifting to cloud storage facilities due to their incapacity to develop data storage infrastructures, which will surely increase the risk s

of losses of data, infringements and thefts escalating the demand. Countries like China and India have tremendous rate of development manufacturing sector as well as IT and telecom sector which will drive the market in the forecast period.

"The encryption software market fragmented in nature" The key players in the market are firms like Microsoft Corporation, Cisco Systems, Symantec, EMC Corporation, Bloombase, Sophos, IBM Corporation, Intel Security and Trend Micro. These firms offer solutions to both large sc ale businesses and small & medium scale businesses at the same time focusing on the research and development of newer techniques of cryptography to provide optimum solutions to the clients.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/encryption-software-market Market Segment: Deployment Outlook (Revenue, USD Million, 2013 - 2024 • On-premise • Cloud-based Application Outlook (Revenue, USD Million, 2013 - 2024) • Disk Encryption • File/Folder Encryption • Database Encryption • Web Communication Encryption • Network Traffic Encryption • Cloud Encryption • Others End-Use Outlook (Revenue, USD Million, 2013 - 2024) • BFSI • Healthcare • Retail • Government & Public Administration • Telecom • Defense & Aerospace • Education • Manufacturing Regional Outlook (Revenue, USD Million, 2013 - 2024) • North America • U.S. • Canada • Europe • Germany • UK • France

• Asia Pacific • China • India • Japan • Latin America • Brazil • Mexico • Middle East & Africa

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