Encryption Software Market By Component (Software, Service), By Deployment Model (On-Premise, Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Function (Disk Encryption, Communication Encryption, File/Folder Encryption, Cloud Encryption), By Industry Vertical (Bfsi, It & Telecommunications, Government & Public Sector, Retail, Healthcare, Aerospace & Defense, Media & Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
Encryption software is an application platform that helps in encryption and decryption of data stream at rest or in transit. It helps in protecting the content of file, network packet & application, and provides security from unauthorized users. In addition, many organizations use encryption software to protect digital data confidentiality as it is stored on the organizations systems and transmitted using different network. Furthermore, encryption software provides different advantages such as it increases the integrity and security of the data when an employee is working remotely. Moreover, adoption of encryption software among small and mid-size enterprises (SMEs) to improve data security of organizations propels the growth of the market.
Rise in number of complexity & data breaches and increase in compliance regulation among organizations drive the growth of the market. In addition, surge in adoption of bring your own device (BYOD) and increase in mobility fuel the growth of the market. However, lack of awareness about encryption software and limited use of encrypted device in some countries hamper the growth of the market. Conversely, rise in demand for cloud-based encryption software is expected to provide lucrative opportunities for the growth of the market. For instance, in October 2020, Software AG, a software company headquartered in Germany, faced a ransomware attack that elevated the internal system shut down and forced communications to go offline. Therefore, the demand for encryption solutions is anticipated to surge during the COVID-19 pandemic.
The encryption software market is segmented on the basis of component, deployment model, enterprise size, function, industry vertical, and region. Depending on component, it is bifurcated into software and service. According to deployment model, it is divided into on-premise and cloud. By enterprise size, it is categorized into large enterprises and small-and medium-sized enterprises (SMEs).As per the function, it is classified into disk encryption, communication encryption, file/folder encryption, and cloud encryption. On the basis of industry vertical, it is classified into banking, financial services, and insurance sector (BFSI); IT/telecom, government & public; retail; healthcare; aerospace & defense; media & entertainment; and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the encryption software market analysis are Amazon Web Services, Inc. (AWS), Check Point Software Technologies, Cisco System, Inc., F-Secure, Fortinet, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc., and Trend Micro Incorporated.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the encryption software market forecast analysis from 2020 to 2030 to identify the prevailing encryption software market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the encryption software market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global encryption software market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By BY COMPONENT
Software
Service
By BY DEPLOYMENT MODEL
On-Premise
Cloud
By BY ENTERPRISE SIZE
Large Enterprises
Small Medium Enterprises
By BY FUNCTION
Disk Encryption
Communication Encryption
File/Folder Encryption
Cloud Encryption
By BY INDUSTRY VERTICAL
Banking, Financial Services, and Insurance (BFSI)
IT/Telecom
Government Public
Retail
Healthcare
Aerospace Defense
Media Entertainment
Others
By BY REGION
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Amazon Web Services, Inc. (AWS)
Check Point Software Technologies
Cisco System, Inc.
F-Secure
Fortinet, Inc.
IBM Corporation
Microsoft Corporation
Oracle Corporation
Palo Alto Networks, Inc.
Trend Micro Incorporated
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