Encryption Software Market Size Estimated To Reach $11,600 Million in 2026 | Microsoft Corporation, Symantec Corporation, IBM Corporation, EMC Corporation, Cisco Systems
Encryption software is used for encryption of data and files to protect sensitive data, and prevent data loss. Encryption software converts plain readable files and text into cipher text through the use of mathematical algorithms or logic.
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To decrypt the files back to a readable format, the encryption software sends a key to the receiver, which protects data from unauthorized access. The different types of encryption software include file encryption, email encryption, disk encryption, and network encryption among others. Encryption software is increasingly being used in diverse industry verticals such as BFSI, defense, healthcare, government and utilities, and telecom among others.
The need for protection of critical data, especially in banking and government sectors for protection of sensitive data, and growing concerns regarding data loss and privacy have increased the demand for encryption software across the globe. Similarly, the increasing penetration of mobile devices, growing internet penetration, and introduction of regulations to increase the adoption of encryption software has boosted the growth of the global encryption software market.
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Also, the increasing trend of BYOD, IOT, cloud, virtualization, and big data analytics has further increased the adoption of encryption software. Furthermore, rising demand of encryption software in healthcare, retail, and defense sectors, increasing demand for cloud-based encryption software, and technological advancements would boost the opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Encryption Software Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 owing to increasing cases of data breaches in the region. Organizations are moving towards BYOD, IoT, big data analytics, and virtualization, thereby increasing the need for encryption software in the market. BFSI and defence sectors in the region are investing significantly for protection of sensitive data against breaches and data theft to positively influence the encryption software market during the forecast period.
Competitive Landscape and Key Vendors
The global encryption software market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The major companies included in the report are Microsoft Corporation, Symantec Corporation, IBM Corporation, EMC Corporation, Cisco Systems, Inc., Intel Security, Check Point Software Technologies Ltd., Oracle Corporation, Trend Micro, Inc., and Sophos Group PLC.
• Large Enterprises
• Small and Medium Businesses
• File Encryption
• Disk Encryption
• Database Encryption
• Cloud Encryption
• Communication Encryption
• Aerospace and Defense
• Government and Public Utilities
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
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