Encryption Software Global Market Report 2022

DUBLIN, Jan. 18, 2023 /PRNewswire/ --  The "Encryption Software Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global encryption software market.

This report focuses on encryption software market which is experiencing strong growth. The report gives a guide to the encryption software market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

The global encryption software market is expected to grow from $9.36 billion in 2021 to $10.67 billion in 2022 at a compound annual growth rate (CAGR) of 14.1%. The encryption software market is expected to grow to $18.91 billion in 2026 at a CAGR of 15.4%.

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Major players in the encryption software market are Amazon Web Services, Inc, Check Point Software Technologies, Dell, Cisco System, Inc, F Secure, IBM Corporation, Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc, Trend Micro Incorporated, Eset, Microsoft, Sophos Ltd, Bitdefender, and Pkware.

The encryption software market consists of sales of encryption software by entities (organizations, sole traders, and partnerships) that refer to a type of security program that enables encryption and decryption of the data stream at rest or in transit. It enables the encryption of the content of a data object, file, network packet, or application. This software is secure as it cannot be viewed by unauthorized users. This software is also cheap and trustworthy.

The main types of encryption software are software and service. The total set of programs, operations, and routines related to the operation of a computer system is referred to as software. Encryption software works in large enterprises and small and medium enterprises that have applications in database encryption, disc encryption, file/folder encryption, cloud encryption, and communication encryption. They are used in various industries such as IT and telecommunications, banking, finance, security, and insurance (BFSI), healthcare and life sciences, manufacturing, government, energy and utilities, and other industries.

North America was the largest region in the encryption software market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the encryption software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increase in the high adoption of cloud and virtualization technologies is significantly driving the growth of the encryption software market. Cloud technology is the delivery of computing services over the cloud such as data, software, and so on. This data when transferred needs security and protection that is given by the encryption software. It helps in protecting the data when transferred from one source to another or the cloud.

According to TechJury, a publishing website for testing and reviewing software companies, 81% of all enterprises have a multi-cloud strategy already laid out or in the works, and 67% of the enterprise infrastructure is cloud-based. Additionally, 82% of the workload will reside on the cloud. Nearly 50% of organizations in Europe are utilized cloud storage in 2022. Hence the increase in the adoption of cloud and virtualization technologies by companies is expected to propel the growth of encryption software going forward.

Technological advancement is a key trend gaining popularity in the encryption software market. Major companies operating in the encryption software sector are focused on developing new technological solutions to strengthen their position and provide an enhanced product to their users. 

The countries covered in the encryption software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Topics Covered:

1. Executive Summary

2. Encryption Software Market Characteristics

3. Encryption Software Market Trends And Strategies

4. Impact Of COVID-19 On Encryption Software

5. Encryption Software Market Size And Growth

5.1. Global Encryption Software Historic Market, 2016-2021, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Encryption Software Forecast Market, 2021-2026F, 2031F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Encryption Software Market Segmentation

6.1. Global Encryption Software Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Software
• Service

6.2. Global Encryption Software Market, Segmentation By Organization Size, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Large Enterprises
• Small and Medium Enterprises

6.3. Global Encryption Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Disc Encryption
• File/Folder Encryption
• Database Encryption
• Communication Encryption
• Cloud Encryption

6.4. Global Encryption Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• IT and Telecommunications
• Banking, Finance, Security, and Insurance (BFSI)
• Healthcare and Life Sciences
• Manufacturing
• Government
• Energy and Utilities
• Other Industry Verticals

7. Encryption Software Market Regional And Country Analysis

7.1. Global Encryption Software Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Encryption Software Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/wrhoho

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SOURCE Research and Markets