The global encryption software market size is expected to grow from USD 9,763 million in 2020 to USD 20,052 million by 2025, at a Compound Annual Growth Rate (CAGR) of 15.5% from 2020 to 2025 in the post-COVID-19 scenario.
The global encryption software market size to grow at a Compound Annual Growth Rate (CAGR) of 15.5% during the forecast period
Major growth drivers for the encryption software market include stringent regulatory standards and data privacy compliances, rising concerns about loss of critical data and an exponential increase in the adoption of cloud and virtualization technologies. Budgetary constraints and availability of free, open source, and pirated encryption software may restrain the growth of the encryption software market.
Services segment to grow at a higher CAGR during the forecast period
The encryption software market is segmented on the basis of components (software and services). The services segment is expected to grow at a faster pace during the forecast period. There is a strong requirement for encryptio3en software related services to tackle specific needs. The encryption services enhance the security portfolio of enterprises and safeguard their system from unauthorized access, exploitation, and data loss.
The cloud encryption segment to grow at the highest CAGR during the forecast period
The encryption software market by application has subsegments of disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption. The cloud encryption segment to grow at the highest CAGR during the forecast period, owing to the increasing number of organizations moving toward the cloud for achieving cost savings, agility, and flexibility, although this is also making their critical data more vulnerable to cyberattacks. Hence, the cloud encryption segment is growing at the highest rate among all encryption software applications.
Asia Pacific (APAC)to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as India, Australia, andNew Zealand, and growing government regulations are expected to drive the growth of the market in APAC.
Key Topics Covered:
1 Introduction to Covid-19 Scenario
2 Introduction to the Encryption Software Market
3 Research Methodology
4 Executive Summary
5 Premium Insights 5.1 Attractive Market Opportunities in the Market 5.2 Market: Market Share of Top Three Verticals and Regions, 2020 5.3 Market Investment Scenario 6 Market Overview and Industry Trends 6.1 Introduction 6.2 Market Dynamics 6.2.1 Drivers 18.104.22.168 Stringent Regulatory Standards and Data Privacy Compliances 22.214.171.124 Rising Concerns Pertaining to Loss of Critical Data 126.96.36.199 Exponential Increase in the Adoption of Cloud and Virtualization Technologies 6.2.2 Restraints 188.8.131.52 Budgetary Constraints 184.108.40.206 Availability of Free, Open Source, and Pirated Encryption Software 6.2.3 Opportunities 220.127.116.11 Rise in Demand for Integrated Data Protection Solutions and Eaas Among Smes 18.104.22.168 Increased Adoption of Encryption Software Across Verticals 6.2.4 Challenges 22.214.171.124 Difficulties in Effective Management and Usage of the Encryption Key 126.96.36.199 Lack of Skilled Workforce Among Enterprises 6.3 Covid-19 Pandemic-Driven Market Dynamics and Factor Analysis 6.3.1 Drivers and Opportunities 6.3.2 Restraints and Challenges 6.4 Regulatory Compliances 6.4.1 General Data Protection Regulation 6.4.2 Health Insurance Portability and Accountability Act 6.4.3 Federal Information Security Management Act 6.4.4 Sarbanes-Oxley Act 6.4.5 Gramm-Leach-Bliley Act 6.4.6 Payment Card Industry Data Security Standard 6.4.7 Federal Information Processing Standards 6.5 Use Cases 6.5.1 Use Case: Scenario 1 6.5.2 Use Case: Scenario 2 6.5.3 Use Case: Scenario 3 6.5.4 Use Case: Scenario 4 7 Encryption Software Market, by Component 7.1 Introduction 7.2 Software 7.2.1 Software: Covid-19 Drivers Impacting Market 7.3 Services 7.3.1 Professional Services 188.8.131.52 Support and Maintenance Services 184.108.40.206.1 Support and Maintenance Services: Covid-19 Drivers Impacting Market 220.127.116.11 Training and Education Services 18.104.22.168.1 Training and Education Services: Covid-19 Drivers Impacting Market 22.214.171.124 Consulting Services 126.96.36.199.1 Consulting Services: Covid-19 Drivers Impacting Market 7.3.2 Managed Services 188.8.131.52 Managed Services: Covid-19 Drivers Impacting Market
10 Encryption Software Market, by Enterprise Size 10.1 Introduction 10.2 Small and Medium-Sized Enterprises 10.2.1 Small and Medium-Sized Enterprises: Covid-19 Drivers Impacting Market 10.3 Large Enterprises 10.3.1 Large Enterprises: Covid-19 Drivers Impacting Market
11 Encryption Software Market, by Vertical 11.1 Introduction 11.2 Banking, Financial Services, and Insurance 11.2.1 Banking, Financial Services, and Insurance: Covid-19 Drivers Impacting Market 11.3 Aerospace and Defense 11.3.1 Aerospace and Defense: Covid-19 Drivers Impacting Encryption Software Market 11.4 Government and Public Utilities 11.4.1 Government and Public Utilities: Covid-19 Drivers Impacting Encryption Software Market 11.5 It and Telecommunication 11.5.1 It and Telecommunication: Covid-19 Drivers Impacting Encryption Software Market 11.6 Healthcare 11.6.1 Healthcare: Covid-19 Drivers Impacting Encryption Software Market 11.7 Retail 11.7.1 Retail: Covid-19 Drivers Impacting Encryption Software Market 11.8 Other Verticals
12 Encryption Software Market, by Region 12.1 Introduction 12.2 North America 12.2.1 North America: Covid-19 Drivers Impacting Encryption Software Market 12.2.2 United States 184.108.40.206 Growing Need to Secure Private Data to Fuel the Demand for Encryption Software in the US 12.2.3 Canada 220.127.116.11 Increasing Adoption of Encryption Solutions Across Various Verticals to Drive the Market Growth in Canada 12.3 Europe 12.3.1 Europe: Covid-19 Drivers Impacting Encryption Software Market 12.3.2 United Kingdom 18.104.22.168 Focus on Securing Users' Data and Addressing Gdpr Requirements to Drive the Market in the UK 12.3.3 Germany 22.214.171.124 Increasing Instances of Spear Phishing Attacks and Internet Thefts to Increase the Demand for Encryption Software in Germany 12.3.4 Rest of Europe 12.4 Asia-Pacific 12.4.1 Asia-Pacific: Covid-19 Drivers Impacting Encryption Software Market 12.4.2 China 126.96.36.199 Increasing Investments in Encryption Solutions to Spur the Demand for Encryption Solutions in China 12.4.3 India 188.8.131.52 Growing Need for Securing Confidential Information to Drive the Growth of Encryption Software in India 12.4.4 Australia and New Zealand 184.108.40.206 Rising Data Leakage Instances Across Anz to Boost the Growth of Encryption Software in Anz 12.4.5 Rest of Asia-Pacific 12.5 Middle East and Africa 12.5.1 Middle East and Africa: Covid-19 Drivers Impacting Encryption Software Market 12.5.2 Middle East 220.127.116.11 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt Encryption Software in the Middle East 12.5.3 Africa 18.104.22.168 Increase in Number of Tech Ventures to Lead to the Growth of Encryption Software Market in Africa 12.6 Latin America 12.6.1 Latin America: Covid-19 Drivers Impacting Market 12.6.2 Brazil 22.214.171.124 Rapid Surge in Usage of Sensitive Data for Sharing Vital Information Among Customers to Increase the Demand for Encryption Software in Brazil 12.6.3 Mexico 126.96.36.199 Rise in the Adoption of Cloud-Based Solutions and Services to Fuel the Growth of Encryption Software Market in Mexico 12.6.4 Rest of Latin America 13 Competitive Landscape 13.1 Competitive Leadership Mapping 13.1.1 Visionary Leaders 13.1.2 Innovators 13.1.3 Dynamic Differentiators 13.1.4 Emerging Companies 13.2 Strength of Product Portfolio 13.3 Business Strategy Excellence 13.4 Competitive Leadership Mapping (Startups/SMEs) 13.4.1 Progressive Companies 13.4.2 Responsive Companies 13.4.3 Dynamic Companies 13.4.4 Starting Blocks
14 Company Profiles 14.1 Introduction 14.2 IBM 14.3 Microsoft 14.4 Symantec 14.5 Thales E-Security 14.6 Trend Micro 14.7 Sohpos 14.8 Check Point 14.9 Micro Focus 14.10 Mcafee 14.11 Dell 14.12 Winmagic 14.13 Eset 14.14 Cryptomathic 14.15 Bitdefender 14.16 Stormshield 14.17 Ciphercloud 14.18 Other Relevant Company Profiles
15 Adjacent Markets 15.1 Introduction to Adjacent Markets 15.2 Limitations 15.3 Encryption Software Ecosystem and Adjacent Markets 15.4 Mobile Encryption Market 15.4.1 Adjacent Market: Mobile Encryption Market, by Application 15.4.2 Adjacent Market: Mobile Encryption Market, by Vertical 15.4.3 Adjacent Market: Mobile Encryption Market, by Region 15.5 Cybersecurity Market 15.5.1 Adjacent Market: Cybersecurity Market, by Vertical 15.5.2 Adjacent Market: Cybersecurity Market, by Region 15.6 Quantum Cryptography Market 15.6.1 Adjacent Market: Quantum Cryptography Market, by Vertical 15.6.2 Adjacent Market: Quantum Cryptography Market, by Region