The encryption software market size is expected to grow from USD 3.87 Billion in 2017 to USD 12.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.4%.
The demand for encryption software is likely to be driven by various factors, such as proliferation in the number of cyber-attacks and the stringent government regulations and compliances that mandate the adoption of encryption among various verticals.
The encryption software market has been segmented on the basis of components (solution and services), applications, deployment types, organization sizes, verticals, and regions. The services segment is expected to grow at the highest CAGR during the forecast period and the solution segment is estimated to have the largest market size in 2017 in the market.
Professional services have been widely adopted by organizations, as these services involve expert consulting, support and maintenance, and optimization and training for cybersecurity. However, the managed services segment is expected to grow at the highest CAGR during the forecast period, as managed security vendors provide extensive reporting capabilities for validating the regulatory compliance with internal security policies for the users.
The disk encryption application is estimated to hold the largest market share in 2017. The importance of encrypting a disk is that, if the encrypted disk is lost or stolen, the encrypted state of the drive remains unchanged, and only an authorized user will be able to access its contents. The cloud encryption application is expected to grow at the fastest rate during the forecast period.
Encryption solutions and services have been deployed across various verticals, including Banking, Financial Services, and Insurance (BFSI); aerospace and defense; government and public utilities; healthcare; telecom and IT; retail; and others (manufacturing, education, and media and entertainment). The telecom and IT vertical is expected to grow at the highest CAGR during the forecast period. However, the BFSI vertical is estimated to have the largest market size in 2017.
The global encryption software market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Premium Insights 4.1 Attractive Opportunities In Encryption Software Market, 2017-2022 4.2 Encryption Software Market, Share Of Top 3 Applications And Regions, 2017 4.3 Encryption Software Market, By Service, 2017-2022 4.4 Encryption Software Market, By Professional Services, 2017 4.5 Encryption Software Market, By Deployment Type, 2017-2022 4.6 Encryption Software Market, By Organization Size, 2017-2022 4.7 Market Investment Scenario, 2017-2022
5. Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 220.127.116.11 Growing Concern Over Critical Data Loss In On-Premises Environment 18.104.22.168 Exploitation Of Big Data Analytics Poses Risk To Cloud Environment 22.214.171.124 Regulations To Increase Adoption Of Encryption Solutions 5.2.2 Restraints 126.96.36.199 Lack Of Budget For Adopting Best-In-Class Encryption Solutions 188.8.131.52 Lack Of Awareness About Encryption And Performance Concerns Among Enterprises 5.2.3 Opportunities 184.108.40.206 Surge In Demand For Integrated, Cloud-Based Encryption Solutions Among Smes 220.127.116.11 Large-Scale Adoption Of Encryption Solutions In Bfsi Vertical 5.2.4 Challenges 18.104.22.168 Complexities In Management Of Encryption Keys 22.214.171.124 Lack Of Skilled Workforce Among Enterprises 5.3 Regulatory Implications 5.3.1 Payment Card Industry Data Security Standard 5.3.2 Health Insurance Portability And Accountability Act 5.3.3 Federal Information Security Management Act 5.3.4 Sarbanes-Oxley Act 5.3.5 Gramm-Leach-Bliley Act 5.3.6 Federal Information Processing Standards 5.3.7 General Data Protection Regulation 5.4 Innovation Spotlight 5.5 Use Cases 5.5.1 Large-Scale Adoption Of Email Encryption By Financial Organizations In The Uk 5.5.2 Adoption Of Encryption Solution By A Clinical Research Company 5.5.3 Reliance Of Small And Medium Financial Companies On Data Encryption 5.5.4 Large-Scale Adoption Of Encryption By It And Telecom Company 5.5.5 Need For Best-In-Class Encryption Solutions For Government Sector In Canada 5.5.6 Healthcare Vertical Relying On Cloud-Based Encryption Solutions 5.6 Type Of Encryption Algorithms 5.6.1 Data Encryption Standard 5.6.2 Advanced Encryption Standard 5.6.3 Triple-Des 5.6.4 Blowfish Algorithm 5.6.5 Homomorphic Encryption 5.6.6 Rsa 5.6.7 Diffie-Hellman Key Exchange 5.6.8 Quantum Cryptography 5.6.9 Post Quantum Cryptography
6. Encryption Software Market Analysis, By Component 6.1 Introduction 6.2 Solution 6.2.1 Types Of Data Encrypted 126.96.36.199 Data At Rest 188.8.131.52 Data In Transit 184.108.40.206 Data In Use 6.2.2 Types Of Encryption 220.127.116.11 Symmetric Encryption 18.104.22.168 Asymmetric Encryption 6.2.3 Key Management 6.3 Services 6.3.1 Professional Services 22.214.171.124 Support And Maintenance 126.96.36.199 Training And Education 188.8.131.52 Planning And Consulting 6.3.2 Managed Services
8. Encryption Software Market Analysis, By Deployment Type 8.1 Introduction 8.2 On-Premises 8.3 Cloud
9. Encryption Software Market Analysis, By Organization Size 9.1 Introduction 9.2 Large Enterprises 9.3 Small And Medium-Sized Enterprises
10. Encryption Software Market Analysis, By Vertical 10.1 Introduction 10.2 Banking, Financial Services, And Insurance 10.3 Aerospace And Defense 10.4 Healthcare 10.5 Government And Public Utilities 10.6 Telecom And It 10.7 Retail 10.8 Others