Encryption Software Market - Global Industry Analysis Forecast 2016 – 2024
Global Encryption Software Market: Overview
Software
companies around the world have been rapidly adopting encryption
software to boost business proficiency and improve data security.
Software-based encryption is one of the fastest-emerging solutions
for end-point data security. The growing concerns of data breaches
and privacy compliance regulations are making companies keener to
adopt software-based encryption solutions to achieve compliance,
improved data security, and better flexibility in operations.
Additionally, the global market for encryption software is also
gaining impetus from the increasing adoption of the latest
technologies such as cloud, virtualization, and mobility.
Full
Report on Encryption Software Market is available at
Encryption
software helps in protecting the confidentiality of the information
stored in folders and files and data travelling over networks or data
in-transit as per the compliance and security requirements of an
organization. It encrypts and decrypts data at-rest and
data-in-transit using software. Hence, by rendering the data
unreadable even to the person authorized, encryption software helps
enhance the security of confidential data. The adoption of encryption
software is therefore expected to increase in response to the
increasing incidence of cyber-attacks.
The
report presents insights into various factors encouraging and
inhibiting the global market for encryption software. Using
industry-leading analytical tools, it analyzes factors affecting the
market’s growth trajectory over the forecast period. The impact of
the prevailing competitive landscape and government policies is also
studied in the report in detail. In order to present a holistic
overview of the competitive landscape of the global encryption
software market, the report also profiles some of the leading players
operating therein.
Encryption
Software Market: Key Trends and Opportunities
A
staggering amount of data is generated on a daily basis with the
growing incorporation of mobile and cloud-based devices across
enterprises, thereby increasing apprehensions related to data
security. Additionally, organizations have become more vulnerable to
data breach, loss, theft, cyber-attacks, and commercial espionage.
Hence, companies have begun prioritizing data security more than ever
with the escalating strength of commercial espionage across
industries.
Additionally,
while the widespread adoption of personal computers has in many ways
made life simpler, it has also widened the scope for security
breaches. The surging number of computer hackers attempting to break
into organizational, industrial, or government networks with the
intent of pilfering essential information for monetary gains has been
the primary reason behind the increasing adoption of encryption
software. Additionally, the growing trend of bring your own device
(BYOD) policies at work and increased penetration of mobile devices
across enterprises have augmented the risk of data loss among
organizations. This has, in turn, made implementing encryption
software imperative for secure data transmission.
The
business ecology around the world is becoming more dynamic in
response to the growing receptivity toward the latest technologies,
such as social media, cloud, and mobility, thus increasing the volume
of the data generated across these enterprises. This increasing
uptake of mobile devices across enterprises further makes critical
data susceptible to loss and theft. Encryption software solutions are
therefore increasingly demanded across organizations for safeguarding
business data.
Global
Encryption Software Market: Key Players
The
most prominent encryption providers, including Symantec, Microsoft,
Sophos, Check Point Software Technologies, and Trend Micro, already
offer advanced encryption solutions, depending on the specific needs
of their clients. Besides, several other technology providers are
also developing and innovating techniques related to advanced
encryption that can also incorporate organizational data to provide
robust data security. Additionally, with cloud service providers
offering cloud-based encryption solutions to companies and
organizations, the global market for encryption software is poised to
surge exponentially in the near future.
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