A recent report published by Infinium Global Research on encryption software market provides an in-depth analysis of segments and sub-segments in the global as well as regional encryption software market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional encryption software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global encryption software market. According to the report, the global encryption software market is projected to grow at a CAGR of 16.38% over the forecast period of 2019-2025.
The encryption software uses the cryptography to avoid unauthorized access to digital information. Software encryption uses a cipher i.e. an algorithm for performing encryption or decryption to obscure the content into ciphertext. Ciphers are classified into two categories such as public key ciphers and symmetric key ciphers. Encryption software can be based on either symmetric key encryption or public key.
Increasing adoption of emerging technologies and innovation in the solutions and software fuels the growth of the global encryption software market. A growing number of cyberattack cases across the world and strict government regulatory standards regarding data privacy are the driving factor for the growth of the global encryption software market. Growing concern related to data theft and critical loss of data boosts the growth of the market. Increasing adoption of the cloud-based technologies and solution in various industry verticals boost the growth of the global encryption software market. On the other hand, the high cost for the encryption software along with the availability of pirated encryption software in the market may hamper the growth of the encryption software market. Furthermore, increasing awareness and demand for integrated data protection solutions creates an opportunity for the growth of the market.
Geographically, North America region dominates by the largest market share in the Encryption software market due to the adoption of new technologies and high capital investment in various industry verticals. Increasing awareness to secure intellectual property and reduce the number of data breaches boost the growth in the region. In North America, the U.S. dominates the market followed by Canada and Mexico. Asia Pacific region is expected to boost the growth of the encryption software market in the forecast period. In the Asia Pacific, China holds the largest market share followed by Japan and India. Increasing awareness for the enhanced data security and safety systems and increasing demand in the small-medium scale enterprise to ensure data privacy and to secure it boosts the growth of the market in the Asia-Pacific region.
The report on global encryption software market covers segments such as deployment, application, and end user. On the basis of deployment, the sub-markets include on-premise, and cloud. On the basis of application, the sub-markets include database encryption, disk encryption, cloud encryption, communication encryption, and file/folder encryption. On the basis of end user, the sub-markets include it and telecommunication, BFSI, healthcare, aerospace and defence, and other end users.
The report provides profiles of the companies in the market such as Microsoft Corporation, Symantec Corporation, International Business Machines Corporation, McAfee, LLC, Thales e-Security, Inc. (Thales Group), Sophos Group plc, Trend Micro Incorporated, Check Point Software Technologies Ltd., ESET, spol. S r. o., Proofpoint, Inc., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of encryption software market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.