Global Encryption Software Market 2015-2019
About Encryption Software
Encryption is a technique that secures data by converting plain text into a cipher format during transmission through the internet. The process uses mathematical algorithms that convert the information into an undecipherable format that can only be accessed using a secret code. The strength of an encryption code is measured by its length, which is determined by the number of bits used, as it is directly proportional to the number of possible codes or combinations. Though the primary goal of an encryption software is to encrypt and decrypt data, it also includes features such as shredding.
TechNavio's analysts forecast the Global Encryption Software market to grow at a CAGR of 17.36 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Encryption Software market for the period 2015-2019. To calculate the market size, the report considers revenue generated from encryption software, solutions, tools, applications, services, support, and maintenance.The report also presents the vendor landscape and a corresponding detailed analysis of the six major vendors in the market. It provides a geographical segmentation of the market for 2014 and details of the major drivers, challenges, and trends in the market. It also provides a segmentation based on data usage, applications, and end-users in the market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Encryption Software Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Encryption Software Market: Check Point Software Technologies Ltd., Cisco Systems Inc., McAfee Inc., Microsoft Corp., Symantec Corp. and Trend Micro Inc.
Other Prominent Vendors in the market are: EMC, Entrust, HP, IBM, ProofPoint, SAS Institute, Sophos, Tumbleweed Communications, Voltage Security, WinMagic and Zix
Commenting on the report, an analyst from TechNavio’s team said: “One key trend upcoming in this market is increased adoption of the BYOD policy. Most enterprises in developing countries and SMEs cannot afford expensive on-premises encryption software solutions. Hence, they are adopting BYOD solutions, which can manage their business operations and provide secure access to data from any place with less capital investment.”
According to the report, increase in the number of data breaches is a key driver of the market. Organizations are increasingly focusing on securing critical data and improving customer satisfaction. Encryption software provides organizations with various regulations that help to reduce the number of breaches, driving the demand for encryption software solutions.
Further, the report states that one major challenge in the market is the complexity of encryption. For encryption, algorithms convert data into an encoded format. However, different types of encryption use different amounts of space to store data, and managing with less space in less time can become complex with the increasing demand for encryption solutions. Regulatory restrictions are also hindering the growth of the market.
Check Point Software Technologies, Cisco Systems, McAfee, Microsoft, Symantec, Trend Micro, EMC, Entrust, HP, IBM, ProofPoint, SAS Institute, Sophos, Tumbleweed Communications, Voltage Security, WinMagic, Zix
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