The global encryption software market will be driven by technological advancements in the software industry during the forecast period 2021-2026
Expert Market Research’s new report titled “Encryption software market sizeShare, Price, Trends, Growth, Analysis, Industry, Report and Forecast 2021-2026′, gives an in-depth analysis of the global encryption software market, assessing the market based on its segments such as Types, Process Types, distribution channels, applications and major regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): 8.3 billion USD
- Forecast CAGR (2021-2026): 15.05%
- Forecasted market size (2026): 19.2 billion USD
Focus on compliance with stringent regulatory standards, adherence to data privacy, rising concerns over crucial data leaks and rapid use of cloud and digital are some of the key growth drivers for the software market. encryption. The global encryption software market is expected to be dominated by North America, with Asia-Pacific (APAC) expected to grow at the fastest CAGR during the forecast period. The highest growth rate in the market can be attributed to private and public sector investments in securing sensitive data, which has led to increased demand for encryption software used to secure and ensure data privacy.
Industry definition and major segments
Encryption software is a type of security application that enables encryption and decryption of data streams in transit or at rest. It allows the encryption of data objects, files, network packets and application information to be secure and unreadable by unauthorized users.
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The market can be divided into following segments on the basis of components:
Based on deployment method, the market can be segmented into:
The market can be divided based on applications into:
- Disk encryption
- File/folder encryption
- Database encryption
- Web communication encryption
- Network traffic encryption
- Cloud encryption
On the basis of end-use, the market can be divided into:
- Banking, financial services and insurance
- Aeronautics and Defense
- Health care
- Government and public administration
The main regional markets for haptic technology are:
- North America
- Latin Americas
- Middle East and Africa
- Asia Pacific
By 2026, advancements in mobile technology such as hardware and software, market distribution and mobile phone penetration are expected to increase the demand for encryption software. Due to the increasing use of mobile devices in business, the risk of data loss has increased, requiring encryption software to ensure secure data transmission.
Main market players
The major market players are International Business Machines Corporation (NYSE: IBM), Microsoft Corporation, Symantec Corporation, Thales eSecurity, Inc., Trend Micro Incorporated, Sophos Group plc, Micro Focus International plc, Cisco Systems, Inc. and Intel. Company among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.
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