An urgent need to protect sensitive data amongst the organizations is expected to boost the global encryption software market during the forecast period. According to an upcoming report by Fortune Business Insights, titled, “Encryption Software Market Size, Share and Global Trend By Component (Software, Services, Support and Maintenance, Training and Education), By Deployment (On-premise, Cloud), By Applications (Database encryption, Cloud-based communication encryption, Network traffic encryption), By Organization Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, others), and Geography Forecast till 2027,” one of the main reasons for the adoption of encryption software is to curb instances of hackers trying to breaking into government, industrial, and institutional networks with the aim of stealing confidential data for financial gains.
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Fortune Business Insights profiles some of the prominent market players operating in the global encryption software market. They are as follows:
- Microsoft Corporation
- Check Point Software Technologies
- IBM Corporation
- Trend Micro
- Intel Security
- EMC Corporation
- Sophos Technologies
- Cisco Systems
Presence of Well-established Economies to Favor Growth in North America
Geographically, the global encryption software market is divided into Asia Pacific, Latin America, Europe, the Middle East and Africa, and North America. Amongst these regions, North America is anticipated to hold a major portion of the global encryption software market in the coming years. It is likely to occur due to the ongoing developments in the field of encryption software solutions. Several countries in the region possess well-developed economies, which in turn, is enabling the encryption software suppliers to invest huge sums in advanced and novel techniques. Due to the presence of multiple IT companies, North America is considered to be one of the biggest centres of innovation. Those IT companies are slowly adopting various development policies to strengthen their position in the global market.
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1. By Component
- Support and Maintenance
- Training and Education
2. By Deployment
3. By Applications
- Database encryption
- File/folder encryption
- Cloud-based communication encryption
- Network traffic encryption
4. By Organization Size
- Large Enterprises
5. By Vertical
- Banking, Financial Services, and Insurance
- IT and Telecom
- Travel and Hospitality
- Defense and aerospace
6. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Key Industry Developments
- Feb IBM announced new hybrid cloud offerings to assist companies move, integrate and handle apps and workloads seamlessly and securely across any government or private cloud and on-site IT environment.
- June 2019 – Symantec’s industry-leading solution for encrypted traffic management now available as a virtual Application which enables the users to view the decrypted data,and provides a wide variety of security tools to protect the data.
Major Table of Content For Encryption Software Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Encryption Software Market Analysis, Insights and Forecast, 2027
- North America Encryption Software Market Analysis, Insights and Forecast, 2027
- Europe Encryption Software Market Analysis, Insights and Forecast, 2027
- Asia Pacific Encryption Software Market Analysis, Insights and Forecast, 2027
- The Middle East and Africa Encryption Software Market Analysis, Insights and Forecast, 2027
- Latin America Encryption Software Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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