Encryption Software Market by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, and Cloud Encryption), Deployment Type, Organization Size, Vertical & Region - Global Forecast to 2022

  • ID: 4411236
  • Report
  • Region: Global
  • 160 Pages
  • Markets and Markets
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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 CAGR of 27.4%.

FEATURED COMPANIES

  • Cryptomathic
  • Eset
  • IBM
  • Microsoft
  • Sophos
  • Symantec
  • MORE

"Stringent regulatory compliances and the increasing concern for data security are expected to be driving the growth of the encryption software market"

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 market is expected to be driven by factors, such as the rising concerns of critical data loss in the on-premises environment, risk on cloud environment due to exploitation of big data analytics, and the regulations to increase the adoption of the encryption solutions. However, the major hindrance faced by the enterprises while adopting the encryption software are believed to be the lack of budget for the adoption of the best-in-class encryption solutions, lack of awareness about encryption, and the performance concerns among enterprises.

"Cloud encryption application is expected to have the fastest growth rate during the forecast period"

The cloud encryption application in the encryption software market is expected to grow at the fastest rate, during the forecast period. The major reason for the high growth rate of the cloud encryption application is said to be the ongoing expansive adoption of cloud among companies across the world. There are numerous advantages associated with the adoption of cloud, such as improved flexibility and scalability, faster deployments, and enhanced mobility, which encourage the cloud adoption. However, the risks associated with content protection and data compliance remain to be the prime impediment for embracing the cloud across businesses. This encourages the adoption of cloud encryption solutions to safeguard the sensitive information from being breached.

"Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market size during the forecast period"

Companies in the BFSI sector are expanding their offerings to maintain a competitive edge, save costs, and improve the customer experience with value-added services. The increasing usage of mobile technology has enhanced the adoption of encryption solutions and services in the financial organizations. The financial sector uses encryption solutions to control and secure the sensitive data of customers and protect the data from the internal and external risks of theft. In addition, banking organizations, to enhance their business opportunities, need to make use of external networks that are unsecured. Moreover, the pressure from the regulatory standards, such as Advanced Encryption Standard (AES) and Payment Card Industry Data Security Standard (PCI-DSS), has led companies in this sector to deliver security solutions with encryption software.

"North America is expected to contribute to the largest market share and Asia Pacific (APAC) is estimated to grow at the fastest rate during the forecast period"

North America is expected to have the largest market share and dominate the encryption software market from 2017 to 2022, owing to the early adoption of new and emerging technologies, and the presence of a large number of players in this region. APAC offers extensive growth avenues for the encryption software market, owing to the widespread presence of Small and Medium-sized Enterprises (SMEs) and telecom companies that are extensively adopting encryption software to safeguard their sensitive data.

The break-up profiles of primary participants are given below:

  • By company: Tier 1-55%, Tier 2-20%, and Tier 3-25%
  • By designation: C-level-60%, Director level-25%, and Others-15%
  • By region: North America-35%, Europe-25%, APAC-20%, Latin America-10%, and Middle East and Africa (MEA)-10%

The following key encryption software providers have been profiled in the report:

  1. CipherCloud (California, US)
  2. Dell (Texas, US)
  3. ESET (Bratislava, Slovakia)
  4. Gemalto (Amsterdam, Netherlands)
  5. IBM (New York, US)
  6. McAfee (California, US)
  7. Microsoft (Washington, US)
  8. PKWARE (Wisconsin, US)
  9. Sophos (Abingdon, UK)
  10. Symantec (California, US)
  11. Thales e-Security (La Defense, France)
  12. Trend Micro (Tokyo, Japan)

Research Coverage

The encryption software market has been segmented on the basis of components (solution and services), applications, deployment types, organization sizes, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, solutions and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and the competitive landscape associated with the encryption software market.

The report will help the market leaders/new entrants in this market in the following ways:

  • This report segments the encryption software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
  • This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes vendor comparison of top market players in the encryption software market.
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FEATURED COMPANIES

  • Cryptomathic
  • Eset
  • IBM
  • Microsoft
  • Sophos
  • Symantec
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.1 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Assumptions
           2.3.2 Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Market Opportunities in the Encryption Software Market
    4.2 Market Share of Top 3 Applications and Top 3 Regions
    4.3 Market By Service
    4.4 Market By Professional Service
    4.5 Market By Deployment Type
    4.6 Market By Organization Size
    4.7 Market Investment Scenario

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Concerns of Critical Data Loss in the On-Premises Environment
                    5.2.1.2 Risk on Cloud Environment Due to Exploitation of Big Data Analytics
                    5.2.1.3 Regulations to Increase the Adoption of Encryption Solutions
           5.2.2 Restraints
                    5.2.2.1 Lack of Budget for the Adoption of Best-In-Class Encryption Solutions
                    5.2.2.2 Lack of Awareness About Encryption and Performance Concerns Among Enterprises
           5.2.3 Opportunities
                    5.2.3.1 Proliferation in the Demand for Integrated, Cloud-Based Encryption Solutions in Smes
                    5.2.3.2 Large-Scale Adoption of Encryption Solutions in the BFSI Vertical
           5.2.4 Challenges
                    5.2.4.1 Complexities in the Management of Encryption Keys
                    5.2.4.2 Lack of Skilled Workforce in an Enterprise
    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 in 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 Companies
           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
                    6.2.1.1 Data at Rest
                    6.2.1.2 Data in Transit
                    6.2.1.3 Data in Use
           6.2.2 Types of Encryption
                    6.2.2.1 Symmetric Encryption
                    6.2.2.2 Asymmetric Encryption
           6.2.3 Key Management
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Support and Maintenance
                    6.3.1.2 Training and Education
                    6.3.1.3 Planning and Consulting
           6.3.2 Managed Services

7 Encryption Software Market Analysis, By Application
    7.1 Introduction
    7.2 Disk Encryption
    7.3 File/Folder Encryption
    7.4 Database Encryption
           7.4.1 Application-Level Encryption
           7.4.2 Database-Level Encryption
    7.5 Communication Encryption
           7.5.1 Voice Encryption
           7.5.2 Email Encryption
           7.5.3 Instant Messaging Encryption
    7.6 Cloud Encryption

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

11 Geographic Analysis
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Competitive Landscape
     12.1 Overview
     12.2 Market Ranking Analysis, By Company

13 Company Profiles
     13.1 Ciphercloud
(Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments)*
     13.2 Dell
     13.3 Eset
     13.4 Gemalto
     13.5 IBM
     13.6 Mcafee
     13.7 Microsoft
     13.8 Pkware
     13.9 Sophos
     13.10 Symantec
     13.11 Thales E-Security
     13.12 Trend Micro
     13.13 Cryptomathic
     13.14 Stormshield

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments Might Not Be Captured in Case of Unlisted Companies.

List of Tables
Table 1 United States Dollar Exchange Rate, 2014-2016
Table 2 Innovation Spotlight: Latest Encryption Software Innovations
Table 3 Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 4 Solution: Market Size, By Region, 2015-2022 (USD Million)
Table 5 Services: Market Size, By Region, 2015-2022 (USD Million)
Table 6 Services: Market Size, By Type, 2015-2022 (USD Million)
Table 7 Professional Services Market Size, By Region, 2015-2022 (USD Million)
Table 8 Professional Services Market Size, By Type, 2015-2022 (USD Million)
Table 9 Support and Maintenance Market Size, By Region, 2015-2022 (USD Million)
Table 10 Training and Education Market Size, By Region, 2015-2022 (USD Million)
Table 11 Planning and Consulting Market Size, By Region, 2015-2022 (USD Million)
Table 12 Managed Services Market Size, By Region, 2015-2022 (USD Million)
Table 13 Encryption Software Market Size, By Application, 2015-2022 (USD Million)
Table 14 Disk Encryption: Market Size, By Region, 2015-2022 (USD Million)
Table 15 File/Folder Encryption: Market Size, By Region, 2015-2022 (USD Million)
Table 16 Database Encryption: Market Size, By Region, 2015-2022 (USD Million)
Table 17 Communication Encryption: Market Size, By Region, 2015-2022 (USD Million)
Table 18 Cloud Encryption: Market Size, By Region, 2015-2022 (USD Million)
Table 19 Encryption Software Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 20 On-Premises: Market Size, By Region, 2015-2022 (USD Million)
Table 21 Cloud: Market Size, By Region, 2015-2022 (USD Million)
Table 22 Encryption Software Market Size, By Organization Size, 2015-2022 (USD Million)
Table 23 Large Enterprises: Market Size, By Region, 2015-2022 (USD Million)
Table 24 Small and Medium-Sized Enterprises: Market Size, By Region, 2015-2022 (USD Million)
Table 25 Encryption Software Market Size, By Vertical, 2015-2022 (USD Million)
Table 26 Banking, Financial Services, and Insurance: Market Size, By Region, 2015-2022 (USD Million)
Table 27 Aerospace and Defense: Market Size, By Region, 2015-2022 (USD Million)
Table 28 Healthcare: Market Size, By Region, 2015-2022 (USD Million)
Table 29 Government and Public Utilities: Market Size, By Region, 2015-2022 (USD Million)
Table 30 Telecom and IT: Market Size, By Region, 2015-2022 (USD Million)
Table 31 Retail: Market Size, By Region, 2015-2022 (USD Million)
Table 32 Others: Market Size, By Region, 2015-2022 (USD Million)
Table 33 Encryption Software Market Size, By Region, 2015-2022 (USD Million)
Table 34 North America: Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 35 North America: Market Size, By Service, 2015-2022 (USD Million)
Table 36 North America: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 37 North America: Market Size, By Application, 2015-2022 (USD Million)
Table 38 North America: Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 39 North America: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 40 North America: Market Size, By Vertical, 2015-2022 (USD Million)
Table 41 Europe: Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 42 Europe: Market Size, By Service, 2015-2022 (USD Million)
Table 43 Europe: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 44 Europe: Market Size, By Application, 2015-2022 (USD Million)
Table 45 Europe: Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 46 Europe: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 47 Europe: Market Size, By Vertical, 2015-2022 (USD Million)
Table 48 Asia Pacific: Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 49 Asia Pacific: Market Size, By Service, 2015-2022 (USD Million)
Table 50 Asia Pacific: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 51 Asia Pacific: Market Size, By Application, 2015-2022 (USD Million)
Table 52 Asia Pacific: Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 53 Asia Pacific: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 54 Asia Pacific: Market Size, By Vertical, 2015-2022 (USD Million)
Table 55 Middle East and Africa: Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 56 Middle East and Africa: Market Size, By Service, 2015-2022 (USD Million)
Table 57 Middle East and Africa: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 58 Middle East and Africa: Market Size, By Application, 2015-2022 (USD Million)
Table 59 Middle East and Africa: Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 60 Middle East and Africa: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 61 Middle East and Africa: Market Size, By Vertical, 2015-2022 (USD Million)
Table 62 Latin America: Encryption Software Market Size, By Component, 2015-2022 (USD Million)
Table 63 Latin America: Market Size, By Service, 2015-2022 (USD Million)
Table 64 Latin America: Market Size, By Professional Service, 2015-2022 (USD Million)
Table 65 Latin America: Market Size, By Application, 2015-2022 (USD Million)
Table 66 Latin America: Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 67 Latin America: Market Size, By Organization Size, 2015-2022 (USD Million)
Table 68 Latin America: Market Size, By Vertical, 2015-2022 (USD Million)
Table 69 Market Ranking for the Encryption Software Market, 2017

List of Figures
Figure 1 Encryption Software Market: Market Segmentation
Figure 2 Encryption Software Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Encryption Software Market Size, By Component (2017 vs 2022)
Figure 8 North America is Estimated to Hold the Largest Market Share in 2017
Figure 9 Top 3 Revenue Segments of the Encryption Software Market
Figure 10 Need for Stringent Compliance is Expected to Boost the Encryption Software Market
Figure 11 Disk Encryption and North America are Estimated to Have the Largest Market Shares in 2017
Figure 12 Professional Services Segment is Expected to Have A Larger Market Share During the Forecast Period
Figure 13 Support and Maintenance Services Segment is Expected to Have the Largest Market Share in 2017
Figure 14 Cloud Deployment Type is Expected to Have A Higher CAGR During the Forecast Period
Figure 15 Small and Medium-Sized Enterprises Segment is Expected to Have A Higher CAGR During the Forecast Period
Figure 16 Asia Pacific is Expected to Emerge as the Best Market for Investment in the Next 5 Years
Figure 17 Encryption Software Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Training and Education Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Cloud Encryption Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 24 Telecom and IT Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 26 North America: Market Snapshot
Figure 27 Asia Pacific: Market Snapshot
Figure 28 Gemalto: Company Snapshot
Figure 29 IBM: Company Snapshot
Figure 30 Microsoft: Company Snapshot
Figure 31 Sophos: Company Snapshot
Figure 32 Symantec: Company Snapshot
Figure 33 Thales E-Security: Company Snapshot
Figure 34 Trend Micro: Company Snapshot

Note: Product cover images may vary from those shown
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  • Cryptomathic
  • Dell
  • Eset
  • Gemalto
  • IBM
  • Mcafee
  • Microsoft
  • Pkware
  • Sophos
  • Stormshield
  • Symantec
  • Thales E-Security
  • Trend Micro
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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