LATIN AMERICA ENCRYPTION SOFTWARE MARKET 2019-2028
MARKET OUTLOOK
According to Triton's report, the encryption software market in Latin America is predicted to develop at a CAGR of 12.96% during the projected period 2019-2028. Brazil, Mexico, and Rest of Latin America together outline the market in this region.
In Latin America, cloud adoption has been slower, but is expected to increase in demand as enterprises understand cloud technology's benefits for their businesses. Numerous companies are considering partnering with organizations to expand their reach in the region. Moreover, cloud companies are targeting SMEs that are considering cloud adoption to avoid higher expense rates on their legacy infrastructure. The increase in the adoption of cloud services is expected to direct the demand for encryption as it helps companies ensure privacy, while leveraging the benefits of the cloud. Therefore, the adoption of cloud services is opening avenues that will influence higher encryption technology penetration in Latin America.
Like other nations, Argentina is also vulnerable to cyberattacks, which has resulted in the implementation of laws protecting consumer data. The Data Protection Law in the country defines personal data as any information related to individual or legal entities. It also suggests that any private data treatment must be consented explicitly by the data subject. Further, the introduction of a cybercrime law is considered as a significant improvement towards safeguarding cybersecurity. Although, as it does not cover all criminal acts, many crimes go unpunished, affecting cybersecurity. This factor increases the need for advanced cybersecurity solutions like encryption, in turn, boosting the market's progress in Argentina.
COMPETITIVE OUTLOOK
The renowned companies in this market are Symantec Corporation, Broadcom Inc, McAfee LLC, Palo Alto Networks Inc, International Business Machines Corporation, Check Point Software Technologies, and FireEye Inc.
- 1. LATIN AMERICA ENCRYPTION SOFTWARE MARKET - SUMMARY
- 2. INDUSTRY OUTLOOK
- 2.1. MARKET DEFINITION
- 2.2. KEY INSIGHTS
- 2.2.1. WIDE ADOPTION OF ENCRYPTION STRATEGY IN ENTERPRISES
- 2.2.2. INCREASE IN DEMAND FOR CLOUD DATA ENCRYPTION
- 2.2.3. SNOWDEN REVELATIONS
- 2.3. IMPACT OF COVID-19 ON ENCRYPTION SOFTWARE MARKET
- 2.4. PORTER’S FIVE FORCES ANALYSIS
- 2.4.1. THREAT OF NEW ENTRANTS
- 2.4.2. THREAT OF SUBSTITUTE
- 2.4.3. BARGAINING POWER OF BUYERS
- 2.4.4. BARGAINING POWER OF SUPPLIERS
- 2.4.5. THREAT OF COMPETITIVE RIVALRY
- 2.5. MARKET ATTRACTIVENESS INDEX
- 2.6. VENDOR SCORECARD
- 2.7. MARKET DRIVERS
- 2.7.1. INCREASE IN NUMBER OF DATA BREACHES AND FORCE ATTACKS
- 2.7.2. INCREASE IN COMPLIANCE REGULATIONS
- 2.7.3. GROWTH IN ADOPTION OF VIRTUALIZATION AND CLOUD
- 2.7.4. INCREASE IN MOBILITY
- 2.8. MARKET RESTRAINTS
- 2.8.1. HIGH CAPITAL INVESTMENT
- 2.8.2. LIMITATIONS ON USE OF ENCRYPTED DEVICES IN SOME COUNTRIES
- 2.9. MARKET OPPORTUNITIES
- 2.9.1. WIDESPREAD ADOPTION OF IOT AND CLOUD SERVICES
- 2.9.2. ONGOING TECHNOLOGICAL ADVANCEMENTS IN ENCRYPTION CHIPS
- 2.10. MARKET CHALLENGES
- 2.10.1. INCREASE IN COSTS AND COMPLEXITY OF ENCRYPTION KEYS
- 2.10.2. LACK OF EDUCATION ON ENCRYPTION
- 2.10.3. REGULATORY RESTRICTIONS ON CRYPTO-SOFTWARE
- 3. LATIN AMERICA ENCRYPTION SOFTWARE MARKET OUTLOOK - BY COMPONENT
- 3.1. SOFTWARE
- 3.2. SERVICES
- 4. LATIN AMERICA ENCRYPTION SOFTWARE MARKET OUTLOOK - BY DEPLOYMENT
- 4.1. ON-PREMISE
- 4.2. CLOUD
- 5. LATIN AMERICA ENCRYPTION SOFTWARE MARKET OUTLOOK - BY ORGANIZATION SIZE
- 5.1. LARGE ENTERPRISES
- 5.2. SMALL & MEDIUM ENTERPRISES
- 6. LATIN AMERICA ENCRYPTION SOFTWARE MARKET OUTLOOK - BY FUNCTION
- 6.1. DISK ENCRYPTION
- 6.2. COMMUNICATION ENCRYPTION
- 6.3. FILE/FOLDER ENCRYPTION
- 6.4. CLOUD ENCRYPTION
- 7. LATIN AMERICA ENCRYPTION SOFTWARE MARKET OUTLOOK - BY END-USER
- 7.1. BFSI
- 7.2. IT & TELECOM
- 7.3. GOVERNMENT & PUBLIC SECTOR
- 7.4. RETAIL
- 7.5. HEALTHCARE
- 7.6. AEROSPACE & DEFENSE
- 7.7. MEDIA & ENTERTAINMENT
- 7.8. OTHERS
- 8. LATIN AMERICA ENCRYPTION SOFTWARE MARKET - REGIONAL OUTLOOK
- 8.1. BRAZIL
- 8.2. MEXICO
- 8.3. REST OF LATIN AMERICA
- 9. COMPETITIVE LANDSCAPE
- 9.1. CHECK POINT SOFTWARE TECHNOLOGIES
- 9.2. CISCO SYSTEM INC
- 9.3. SYMANTEC CORPORATION
- 9.4. SOPHOS HOLDINGS LTD
- 9.5. TREND MICRO INCORPORATED
- 9.6. BROADCOM INC
- 9.7. DELL INC
- 9.8. FIREEYE INC
- 9.9. FORTINET INC
- 9.10. INTERNATIONAL BUSINESS MACHINES CORPORATION
- 9.11. MCAFEE LLC
- 9.12. MICROSOFT CORPORATION
- 9.13. ORACLE CORPORATION
- 9.14. PALO ALTO NETWORKS INC
- 9.15. PROOFPOINT
- 10. METHODOLOGY & SCOPE
- 10.1. RESEARCH SCOPE & DELIVERABLES
- 10.2. SOURCES OF DATA
- 10.3. RESEARCH METHODOLOGY
- LIST OF TABLES
- TABLE 1. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
- TABLE 2. MARKET ATTRACTIVENESS INDEX
- TABLE 3. VENDOR SCORECARD
- TABLE 4. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY COMPONENT, 2019-2028 (IN $ MILLION)
- TABLE 5. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT, 2019-2028 (IN $ MILLION)
- TABLE 6. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019-2028 (IN $ MILLION)
- TABLE 7. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY FUNCTION, 2019-2028 (IN $ MILLION)
- TABLE 8. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
- TABLE 9. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
- LIST OF FIGURES
- FIGURE 1. PORTER’S FIVE FORCES ANALYSIS
- FIGURE 2. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)
- FIGURE 3. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY SERVICES, 2019-2028 (IN $ MILLION)
- FIGURE 4. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY ON-PREMISE, 2019-2028 (IN $ MILLION)
- FIGURE 5. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY CLOUD, 2019-2028 (IN $ MILLION)
- FIGURE 6. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY LARGE ENTERPRISES, 2019-2028 (IN $ MILLION)
- FIGURE 7. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY SMALL & MEDIUM ENTERPRISES, 2019-2028 (IN $ MILLION)
- FIGURE 8. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY DISK ENCRYPTION, 2019-2028 (IN $ MILLION)
- FIGURE 9. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY COMMUNICATION ENCRYPTION, 2019-2028 (IN $ MILLION)
- FIGURE 10. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY FILE/FOLDER ENCRYPTION, 2019-2028 (IN $ MILLION)
- FIGURE 11. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY CLOUD ENCRYPTION, 2019-2028 (IN $ MILLION)
- FIGURE 12. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY BFSI, 2019-2028 (IN $ MILLION)
- FIGURE 13. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY IT & TELECOM, 2019-2028 (IN $ MILLION)
- FIGURE 14. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY GOVERNMENT & PUBLIC SECTOR, 2019-2028 (IN $ MILLION)
- FIGURE 15. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY RETAIL, 2019-2028 (IN $ MILLION)
- FIGURE 16. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)
- FIGURE 17. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY AEROSPACE & DEFENSE, 2019-2028 (IN $ MILLION)
- FIGURE 18. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY MEDIA & ENTERTAINMENT, 2019-2028 (IN $ MILLION)
- FIGURE 19. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, BY OTHERS, 2019-2028 (IN $ MILLION)
- FIGURE 20. LATIN AMERICA ENCRYPTION SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)
- FIGURE 21. BRAZIL ENCRYPTION SOFTWARE MARKET 2019-2028 (IN $ MILLION)
- FIGURE 22. MEXICO ENCRYPTION SOFTWARE MARKET 2019-2028 (IN $ MILLION)
- FIGURE 23. REST OF LATIN AMERICA ENCRYPTION SOFTWARE MARKET 2019-2028 (IN $ MILLION)
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