The Global Encryption Software Market is forecast to reach USD 29.47 Billion by 2028, according to a new report by Reports and Data. Significant advancements in mobile technology and its incorporation in the functioning of different business have increased the risk of data theft. Such an increase in the risk of data theft and proportional rise in use of mobile technology have made the incorporation of encryption software in the functioning of technology a necessity. Increased incorporate of encryption software in the operation of mobile technology have a positive impact on the growth of the industry. Use of mobile technology is not restricted to different businesses, but it witnesses a significant rise in personal use. Mobile technology is being highly dependent and used by individuals for storing and transmitting personal and sensitive data that is susceptible to the risk of data loss and data theft. Increased use of mobile technology has a significant impact on the expansion of encryption software market.

With developments in information and communication technology [ICT] and the ease that it provides in functioning, it has been incorporated in different sectors like banking and healthcare industry, among others. In these industries, protection of private data of users becomes essential. Stringent government data protection policies regulate the need for protection of private data of users. Hence, increased incorporation of ICT in various industries and the associated need for protecting private data of service user’s result in boosting the growth of the sector.

In context to region, North America leads the market. Factors like the presence of a large number of vendors providing encryption software and associated services, technological advancement, and incorporation of encryption software have resulted in the dominance of North America in this market.

Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/1516

Key participants include

IBM Corporation, Microsoft Corporation, Symantec Corporation, Intel Security, EMC Corporation, Sophos Holdings Ltd, Check Point Software Technologies, McAfee, Proofpoint, and Trend Micro.

Further key findings from the report suggest

The Encryption Software market held a market share of USD 9,785.3 Million in the year 2020. It is forecasted to grow at a rate of 14.6% during the forecast period.

In regards to the component of encryption software, Solutions segment can be seen to generate higher revenue of USD 1.80 Billion in 2020 with a CAGR of 14.4% during the forecast period. Factors like the effectiveness of encryption software in ascertaining the service user’s autonomy and protect their data, results in significant use of this software for solutions that contributes to revenue generated by this segment.

In context to usages, Encryption for Data-at-rest segment can be seen to occupy the larger market share that is forecasted to hold 64% of the market by 2028 with a growth rate of 14.4% during the forecast period. As this software is effective in protecting confidential data by making the data unreadable, it results in its extensive use for data-at-rest that contributes to the market share of this segment.

In regards to deployment, On-premise segment can be seen to yield a higher revenue of USD 1.89 Billion in 2020 with a growth rate of 14.4% during the forecast period. The revenue generated by this segment has been the result of an increased requirement of developing the security system of different organizations because of high incorporation of information technology in its functioning.

In regards to end-use, BFSI segment generated the highest revenue of USD 1.14 Billion in 2020 with the growth rate of 15.0% during the forecast period. The requirement for strong security in this sector and rise in the instance of cyber-attack, have made it essential for BFSI segment to protect sensitive financial data that has resulted in increased use of this software in this segment, contributing to the revenue generated by it.

Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/1516

For this report, Reports and Data have segmented into the global Encryption Software market on the basis of resin type, composite phases, industry vertical, and region:

Component Type Outlook (Revenue, USD Billion; 2020-2028)

Services

Solutions

Usages type Outlook (Revenue, USD Billion; 2020-2028)

Encryption for Data-in-transit

Encryption for Data-at-rest

Deployment type Outlook (Revenue, USD Billion; 2020-2028)

Cloud-based

On-premise

Application area Type Outlook (Revenue, USD Billion; 2020-2028)

Folder Encryption

Disk Encryption

Database Encryption

Network Traffic Encryption

Web Communication Encryption

Cloud Encryption

Others

End-use Type Outlook (Revenue, USD Billion; 2020-2028)

BFSI

Healthcare

Public sector

Others

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1516

Have a Look at Related Reports:

Anti-Money Laundering Market Size, Trends, Analysis, By Component Type (Solutions, Services), By Technology (KYC, Transaction Monitoring, Compliance Management), Deployment Type, By Organization Size, By End User, And Segment Forecasts To 2027

Online Investment Platform Market Size, Share & Analysis, By Component (Platform, Services), By Solution Type (Portfolio Management, Trading Management, Risk And Compliance Management), Deployment Type, By End Use, And By Region, Forecast To 2028

Annuity Platform Market Analysis, By component (Platform, Services), by Deployment Mode (Cloud, On-premise, Hybrid), by End User (Banking and Insurance companies), by Region, Forecasts to 2026

Task Management Software Market Analysis, By Component (Software and Services), By Deployment Type (On premises and cloud), By Business function (Marketing, HR, Finance), By Organization Size, By end user (Healthcare, BFSI), By Region, Forecasts to 2026

Biometrics-as-a-Service Market Size, Share And Industry Analysis By Technology (Facial Recognition, Fingerprint Recognition, Voice Recognition, Palm Recognition, Iris Recognition, Others), By Component (Solutions, Services), By System Type (Unimodal Biometric Systems, Multimodal Biometric Systems), By Applications (Site Access Control, Time Recording, Mobile Application, Web and Workplace, Others), By Industry Vertical (Government and Defense, Healthcare and Life Sciences, Law Enforcement, Human Resources, Retail and E-commerce, IT and Telecommunication, Banking, Financial services, and Insurance (BFSI), Others) And Region, Segment Forecasts To 2026

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

The post Encryption Software Market Size, Trends, Growth Factors, Regional Segment Revenue Analysis, 2020–2028 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.