Encryption Software Market is Booming Worldwide | Global Key Players like Cipher Cloud, Dell , ESET , Gemalto , IBM , McAfee , Microsoft , PKWARE and Others.

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The Encryption Software Market size is expected to grow from US$ 3.87 Billion in 2017 to US$ 12.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.4%. This report spread across 151 Pages, Profiling 12 Companies and Supported with 69 Tables and 34 Figures is now available in this market research.

“Cloud Encryption application is expected to have the fastest growth rate during the forecast period”
The Cloud Encryption Application in the encryption software market is expected to grow at the fastest rate, during the forecast period. The major reason for the high growth rate of the cloud encryption application is said to be the ongoing expansive adoption of cloud among companies across the world. There are numerous advantages associated with the adoption of cloud, such as improved flexibility and scalability, faster deployments, and enhanced mobility, which encourage the cloud adoption.

“Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market size during the forecast period”
Companies in the BFSI sector are expanding their offerings to maintain a competitive edge, save costs, and improve the customer experience with value-added services. The increasing usage of mobile technology has enhanced the adoption of encryption solutions and services in the financial organizations. The financial sector uses encryption solutions to control and secure the sensitive data of customers and protect the data from the internal and external risks of theft. In addition, banking organizations, to enhance their business opportunities, need to make use of external networks that are unsecured.

“North America is expected to contribute to the largest market share and Asia Pacific (APAC)is estimated to grow at the fastest rate during the forecast period”
North America is expected to have the largest market share and dominate the encryption software market from 2017 to 2022, owing to the early adoption of new and emerging technologies, and the presence of a large number of players in this region. APAC offers extensive growth avenues for the encryption software market, owing to the widespread presence of Small and Medium-sized Enterprises (SMEs)and telecom companies that are extensively adopting encryption software to safeguard their sensitive data.

Breakdown of primary participants’ profile:
• By company: Tier 1–55%, Tier 2–20%, and Tier 3–25%
• By designation: C-level–60%, Director level–25%, and Others–15%
• By region: North America–35%, Europe–25%, APAC–20%, Latin America–10%, and Middle East and Africa (MEA)–10%

Report Highlights:
• To forecast the market size of the market segments with respect to the 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America

• To define, describe, and forecast the encryption software market on the basis of components (solution and services), applications, deployment types, organization sizes, verticals, and regions

• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

• To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the total market

• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market

• To profile the key players of the market and comprehensively analyze their market size and core competencies in the market

• To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global market

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Target Audience for Encryption Software Market: Encryption software vendors, Network solution providers, Defense organizations, Government agencies, Cyber security vendors, Cloud security vendors, Independent software vendors, Consulting firms, System integrators, Value-added Resellers (VARs), Information Technology (IT) security agencies, Managed Security Service Providers (MSSPs).

Most Popular Companies in the Encryption Software Market include are Cipher Cloud (California, US), Dell (Texas, US), ESET (Bratislava, Slovakia), Gemalto (Amsterdam, Netherlands), IBM (New York, US), McAfee (California, US), Microsoft (Washington, US), PKWARE (Wisconsin, US), Sophos (Abingdon, UK), Symantec (California, US), Thales e-Security (La Defense, France), Trend Micro (Tokyo, Japan).

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