Encryption Software Market 2019
According to a new report, the global encryption software market is expected to witness sudden growth in the next few years. Some of the major factors that are driving the market growth include growing focus on following stringent regulatory standards and data privacy compliances, growing concerns of loss of critical data and exponential increase in the adoption of cloud and virtualization technologies might propel the global market size in the coming years.
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• Microsoft Corporation (U.S.)
• Sophos Ltd. (U.S.)
• CheckPoint 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.)
• WinMagic Inc. (Canada)
Organizations are rapidly adopting diverse technological developments such as enterprise mobility, virtualization, and cloud storage in order to boost their business productivity which in turn will fuel the encryption software market size greatly.
Additionally, growing number of mobile device theft cases has further the data loss concerns along with increasing susceptibility of unauthorized access to the organizational information. Moreover, businesses are using many different physical storage devices such as USBs and DVDs, along with emails, to transfer information which adds to the data theft concerns. All these kinds of issues have resulted in growing adoption of encryption software among companies.
The market for global encryption software has been segregated into deployment, organisation size and application. Based on the deployment, the global market has been categorized into Cloud and On-Premise. The cloud encryption segment is the fastest growing segment in the global market mainly due to growing demand for securing sensitive data across the globe. Based on organization size, the market is divided into Small Enterprises, Medium Enterprises and Large Enterprises. On the basis of application, the global encryption software market has been categorized into File/ Folder Encryption and Research Methodology.
Detailed Regional Analysis
The regional analysis will offer valuable information about the market progression over key regions. The global market of the encryption software has been analysed across the United States, Europe, India, Japan, China, Southeast Asia and Middle East & Africa (MEA). North America is expected to hold the largest market size in the global encryption software market whereas Asia Pacific (APAC) market will grow at the highest CAGR during the coming years. Factors attributing towards the highest growth rate in the APAC region include more investments in private and public sectors for securing sensitive data, and rapid growth in technology will further propel the market size to a much greater extent. Increasing demand to follow regulatory rules, existence of leading encryption software vendors, and government initiatives are some of the major growth factors in the North American market that are likely to witness in the coming years. Also, easy availability of Encryption software over the internet is one of the key factors raising its demand globally.
These key vendors operating in encryption software market are adopting various organic and inorganic growth strategies including new product launches, partnerships and collaborations, and mergers and acquisitions etc in order to expand their presence in the global market. Also, increasing competition among the major market players is likely to work in favour of the global encryption software market.
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