Industry Overview

  • The global encryption software market size is anticipated to reach USD 8,402.9 million by 2024, growing at a CAGR exceeding 14% from 2018 to 2024. The global encryption software market size is anticipated to reach USD 8,402.9 million by 2024, growing at a CAGR exceeding 14% from 2018 to 2024. Concerns regarding data security are on a rise with the growing trend of Bring Your Own Device (BYOD) and Internet of Things (IoT), among enterprises. This has further resulted in increased data breaches, commercial espionage, cyber-attacks, and theft & loss in companies, which is expected to drive the demand.