Press release
Encryption Software Market Revenue, Share, Competitive Analysis, Demand and Growth Opportunities by 2023; Cisco Systems, Microsoft, Symantec, TrueCrypt, OpenPuff, Cryptocat, KeePass, winmagic data security
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Based on deployment type, the global encryption software market can be categorized into cloud based deployment and premises deployment. Based on industry verticals, the global encryption software market can be divided into banking, financial services and insurance (BFSI), healthcare, government and public sector, retail, telecom, aerospace, defense and others.
One of the major drivers for global encryption software market is the increased data security expenditure of organizations. With the increasing cyber-threats and governing compliance, the adoption of encryption software has been on the rise. The advancement in technology, such as end-to-end encryption, is encouraging more number of organizations to adopt encryption software. Increasing adoption of new technologies such as cloud, mobility and virtualization has also been driving the need for encryption.
The developing countries such as India, Japan and China are expected to offer high growth opportunities for encryption software market. Among regions, North America dominates the global encryption software market, followed by Europe. Owing to increasing adoption of technologies and strict data privacy regulatory compliance, North America is expected to retain its leadership in the global encryption software market during the forecast period.
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Cisco Systems, Microsoft, Symantec, TrueCrypt, OpenPuff, Cryptocat, KeePass, winmagic data security are some of the major competitors operating in the global encryption software market.
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