Encryption software market size is expected to grow at Compound Annual Growth Rate (CAGR) of 27.4% which results from industry value in term of money would reach from USD 3.87billion in 2017 to USD 12.96 billion by 2022.
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Encryption software market report includes the study of key players offering encryption software solutions such as Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), Check Point Software Technologies Ltd. (Israel)., Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and Win Magic Inc.
The encryption software market is driven by factors such as increasing need to safeguard critical business information against advanced threats, a manifestation of a dynamic business environment, and compliance with cybersecurity guidelines and regulations. However, increasing operational costs and the emergence of hardware-based full disk encryption limit the growth of encryption software market.
Complete report on Encryption Software Market spread across 151 pages, profiling 10 companies and supported with 69 tables and 34 figures is now available at www.rnrmarketresearch.com/encrypti…arket-report.html
The cloud encryption segment is estimated to grow at the highest CAGR during the forecast period, due to the increased adoption of cloud-based storage and applications across various business processes. Increased intensity and volume of cyber-attacks have further increased data security concerns for an organization that has adopted cloud for data storage.
Disk encryption will have a largest market size in 2016, as data storage disks are also susceptible to cyber-attacks.
APAC includes emerging economies, such as China, Japan, and India, which are rapidly deploying encryption software solutions. APAC is expected to grow at the highest CAGR during the forecast period.
This is primarily due to the increasing instances of severe cyber-attacks in verticals such as BFSI and IT & Telecom with the surging volume payments and transactions taking place over the internet. Furthermore, North America is expected to have the largest market size in 2016.
Ask for copy of Encryption Software Market by Application (Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), Service, Deployment Type, User Type, Industry Vertical, Region
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the encryption software marketplace.
- By Company Type: Tier 1: 55%, Tier 2: 20%, Tier 3: 25%
- By Designation: C-Level: 60%, Director Level: 25%, Others: 15%
- By Region: North America: 15%, Europe: 25%, APAC: 30%, Latin America: 20%, MEA: 10%
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