Encryption Software Market by Component (Solution and Services), Application, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2022

  • ID: 4471527
  • 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 Compound Annual Growth Rate (CAGR) of 27.4%

FEATURED COMPANIES

  • Dell (Texas, US)
  • IBM (New York, US)
  • McAfee (California, US)
  • PKWARE (Wisconsin, US)
  • Sophos (Abingdon, UK)
  • Symantec (California, US)
  • 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

  • Dell (Texas, US)
  • IBM (New York, US)
  • McAfee (California, US)
  • PKWARE (Wisconsin, US)
  • Sophos (Abingdon, UK)
  • Symantec (California, US)
  • 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 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
5.2.1.1 Growing Concern Over Critical Data Loss In On-Premises Environment
5.2.1.2 Exploitation Of Big Data Analytics Poses Risk To Cloud Environment
5.2.1.3 Regulations To Increase Adoption Of Encryption Solutions
5.2.2 Restraints
5.2.2.1 Lack Of Budget For Adopting 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 Surge In Demand For Integrated, Cloud-Based Encryption Solutions Among Smes
5.2.3.2 Large-Scale Adoption Of Encryption Solutions In Bfsi Vertical
5.2.4 Challenges
5.2.4.1 Complexities In Management Of Encryption Keys
5.2.4.2 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
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 (Apac)
11.5 Middle East And Africa (Mea)
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.

14. Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Publisher's Subscription Portal
14.3 Introducing Rt: Real-Time Market Intelligence
14.4 Available Customizations
14.5 Related Reports
14.6 Author Details

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  • CipherCloud (California, US)
  • Dell (Texas, US)
  • ESET (Bratislava, Slovakia)
  • Gemalto (Amsterdam, Netherlands)
  • IBM (New York, US)
  • McAfee (California, US)
  • Microsoft (Washington, US)
  • PKWARE (Wisconsin, US)
  • Sophos (Abingdon, UK)
  • Symantec (California, US)
  • Thales e-Security (La Defense, France)
  • Trend Micro (Tokyo, Japan)
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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