Jul 10, 2020 12:28 PM ET

iCrowd Newswire – Jul 10, 2020

The Global Encryption Software Market is estimated to grow at a CAGR of 16.3% during the forecast period 2020-2027. As per the detailed market study, the global encryption software industry is anticipated to reach $22.74 billion by the end of the year 2027.

GET FREE SAMPLE COPY @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR848

Encryption software used to encrypt and decrypt data streams and protect the network packet and the content of file; and offer security from unauthorized users. Organizations are largely intent towards adoption of encryption software to protect confidentiality related to digital data that may be transmitted through various networks or stored in the systems of organization. Also, encryption software offers various advantages such as increasing demand of data security due to increasing trend and need of remote working and increase in integrity of data. Furthermore, increasing adoption of encryption software among the SMEs to boost data security propels the market growth.

The global encryption software industry is driven by various growth factors such as increase in trend of bring your own device (BYOD) in organizations, increased compliance regulation, increase in mobility and growth in the number of issues related to data breaches and complexities related to network security. Whereas, limited usage of encrypted device and lack of awareness related benefits and application of encryption software impede the market growth over the forecast period. On contrary, increase in demand for cloud-based encryption software will offer lucrative opportunities for the market players operating in the global encryption software market.

Segmentation Overview of the Global Encryption Software Market

The global encryption software market is categorized on the basis of various market segments such as component, deployment model, organization size, function and industry vertical. These major market segments are further categorized into various sub-segments to study the market in detail.

The Component Segment of the Global Encryption Software Market is Sub-Segmented into:

  • Software
  • Service

The Deployment Model Segment of the Global Encryption Software Market is Sub-Segmented into:

  • Cloud
  • On-Premise

The Organization Size Segment of the Global Encryption Software Market is Sub-Segmented into:

  • Large Enterprises
  • Small & Medium Enterprises

The Function Segment of the Global Encryption Software Market is Sub-Segmented into:

  • Cloud Encryption
  • File/Folder Encryption
  • Communication Encryption
  • Disk Encryption

The Industry Vertical Segment of the Global Encryption Software Market is Sub-Segmented into:

  • Media & Entertainment
  • Aerospace & Defence
  • Healthcare
  • Retail
  • Government & Public
  • IT/Telecom
  • BFSI
  • Others

Competitive Landscape of the Global Encryption Software Market

Trend Micro Incorporated, Palo Alto Networks, Inc., Oracle Corporation, Microsoft Corporation, IBM Corporation, Fortinet, Inc., F-Secure, Cisco System, Inc., Check Point Software Technologies and Amazon Web Services, Inc. (AWS) are some major players included in the research study of the global encryption software market. The market players are adopting various competitive strategies to withhold majority of the market share in the global marketplace.

Regional Overview of the Global Encryption Software Market

The North America encryption software market dominated the global marketplace in the year 2019 with ~2/5th of the market share in the global encryption software industry. On the other hand, the Asia-Pacific encryption software market is estimated to grow at the fastest growth rate with a CAGR of 18.2% during the forecast period 2020-2027.

READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR848

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:

Report Ocean
Name: Pragya Niranjan
Email: [email protected]
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/

Contact Information:

+1 888 212 3539


iCrowdNewswire

Keywords:    Encryption Software Market