Encryption Software Market - 24% CAGR to 2021 Led by Cloud Encryption

PUNE, India, October 20, 2016 /PRNewswire/ --

The global encryption software market size is estimated to grow from USD 3.05 billion in 2016 to USD 8.94 billion by 2021 propelled by increasing need to safeguard data against cyber-attacks while cloud encryption segment is expected to grow at highest CAGR during the forecast period.

Complete report on encryption software market spread across 157 pages, profiling 10 companies and supported with 57 tables and 51 figures is now available at http://www.marketreportshub.com/encryption-software-industry-research-2019-marketsandmarkets.html .

The encryption software market is driven by factors such as increasing need to safeguard critical business information against advanced threats, manifestation of dynamic business environment, and compliance to cyber security guidelines and regulations. However, increasing operational costs and emergence of hardware-based full disk encryption limit the growth of encryption software market.

The cloud encryption segment is estimated to grow at the highest CAGR during the forecast period, due to the increased adoption of cloud-based storage and applications across various business processes. Increased intensity and volume of cyber-attacks have further increased data security concerns for organization that have adopted cloud for data storage. Disk encryption will have largest market size in 2016, as data storage disks are also susceptible to cyber-attacks. Moreover, with the emergence of BYOD trend, the loss and theft of mobile devices comprising business data, further increases the data security concerns.

The organizations are steadily growing their partnership networks in order to deploy the encryption software solutions across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, professional services segment is expected to have the largest market size in 2016.

APAC includes emerging economies, such as China, Japan, and India, which are rapidly deploying encryption software solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is primarily due to the increasing instances of severe cyber-attacks in verticals such as BFSI and IT & Telecom with the surging volume payments and transactions taking place over the internet. Furthermore, North America is expected to have the largest market size in 2016.

The report includes the study of key players offering encryption software solutions such as Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), Check Point Software Technologies Ltd. (Israel)., Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and Win Magic Inc. (Canada). Order a copy of Encryption Software Market by Application (Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), Service, Deployment Type, User Type, Industry Vertical, Region - Global Forecast to 2021 research report at http://www.marketreportshub.com/purchase?rpid=2550 .

In-depth interviews were conducted with CEOs, marketing directors, other innovation & technology directors, and executives from various key organizations operating in the encryption software market place. In the process of determining and verifying, the global encryption software market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (60%), Director Level (25%) and others (15%) from various key organizations operating in the global encryption software market. The primary interviews were conducted worldwide covering regions such as North America (15%), Europe (25%), Asia-Pacific (30%), Latin America (20%) and Middle East Africa (10%).

On a related note, another research on Database Encryption Market Global Forecast to 2020 says, increasing demand for cloud-based database by organizations is expected to play a significant role in augmenting the growth prospects in the database encryption market. BFSI, healthcare, and government & public sector industries are expected to hold the largest market share during the forecast period. The global market is expected to grow from USD 261.8 million in 2015 to USD 968.3 million by 2020, at a CAGR of 29.9%. Companies like IBM, Symantec, Intel Security (McAfee), Microsoft Corporation, Oracle Corporation, NetApp, Inc., Vormetric, Hewlett-Packard, Sophos Ltd. and Gemalto have been profiled in this 125 pages research report available at http://www.marketreportshub.com/database-encryption-industry-research-marketsandmarkets.html .

Explore more reports on I.T. & Telecommunication market at http://www.marketreportshub.com/categories/i-t-telecommunication .

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