Market Overview:
The report “Encryption Software Market By Deployment (Cloud-based and On-premise), By Application (File/Folder Encryption, Web Communication Encryption, Cloud Encryption, Disk Encryption, Database Encryption, Network Traffic Encryption and Others) and By End User (Healthcare, Government & Public Administration, Defense & Aerospace, Manufacturing, BFSI, Retail, Telecom and Education) – Global Forecast to 2025”, issued by Crystal Market Research, the market has come across significant development in the past few years and is predictable to grow considerably over the forecast period.
Encryption Software Market has various factors driving across the globe. The major factor driving the market is the improvement in the data security. The use of Encryption Software is growing so as to renew capabilities of business. Wide range of applications in various sectors like defense, enterprise, education, retail & industrial is a driving factor. Factors like working through various business solution firms & platforms related to management is increasing the breech so Encryption Software solutions are needed. Growth in the smartphone market, technical development in the mobile phones related to software & hardware is also driving the market. Moreover, cyber-attacks and theft & loss of important & sensitive data are also increasing the demand for Encryption Software.
Benefits of Encryption Software are considerable, but they have some restrains also. Budget being the major restrain as the cost of Encryption Software solutions is more, they also requires number of software licenses. The employing of Encryption Software is also time-consuming & not that easy which can be restraining for the market.
Segment Overview:
Encryption Software Market is segmented By Deployment into Cloud-based and On-premise, By Application into File/Folder Encryption, Web Communication Encryption, Cloud Encryption, Disk Encryption, Database Encryption, Network Traffic Encryption and Others and By End User into Healthcare, Government & Public Administration, Defense & Aerospace, Manufacturing, BFSI, Retail, Telecom and Education.
The Development segment has On-premise section dominating the market with more than 60% shares. Cloud-based is also seen to grow significantly in the forecasted time span; this is due to market continuously searching for next-generation technologies.
Cloud Encryption is the dominating section in the Application segment, as many sectors like retail banking, etc. use cloud for data storing.
The End User segment the BFSI section is dominating the market owing to, banks using various ways like email, DVDs & others for transferring data, which can have high risk of breach.
Browse detailed TOC, Tables, Figures, Charts and Companies mentioned in Global Encryption Software Market research report at: https://www.crystalmarketresearch.com/report/encryption-software-market
Market Players:
The key players of Encryption Software Market are Microsoft, McAfee, Sophos, Dell EMC, Check Point Software Technologies, Bloombase, IBM, Symantec Software Solutions Private Limited and Cisco Systems. These players are offering services on regional & global basis to enterprise & Small & Medium Businesses (SBMs).
Regional Overview:
The North American region is dominating the global Encryption Software Market owing to well-developed telecom & IT sector & large amount of data generated that needs protection. The use of computers in private sector is increasing the security issue. Asia pacific is seen growing as many organizations are using cloud platform for data storage due to absence of infrastructure for storage.
About Crystal Market Research:
Crystal Market Research (CMR) is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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The Encryption Software Market was worth USD 12.08 billion in 2021 and is expected to reach approximately USD 53.83 billion by 2027, while registering itself at a compound annual growth rate (CAGR) of 27.39% during the forecast period.
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