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Encryption Software Market by Component (Software and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, Cloud Encryption), Deployment Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2024

  • ID: 4774489
  • Report
  • Region: Global
  • 152 Pages
  • Markets and Markets
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The Global Encryption Software Market Size to Grow From USD 7.5 Billion in 2019 to USD 16.5 Billion by 2024, at a CAGR of 17.0% During 2019–2024.

FEATURED COMPANIES

  • Bitdefender
  • CipherCloud
  • Dell
  • IBM
  • Micro Focus
  • Sohpos
  • MORE

Major growth drivers for the encryption software market include stringent regulatory standards and data privacy compliances, raising concerns about loss of critical data and an exponential increase in the adoption of cloud and virtualization technologies. Budgetary constraints and availability of the 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 encryption 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 cyber attacks. 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 China, India, Australia, and New Zealand, and growing government regulations are expected to drive the growth of the market in APAC.

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, hedge fund managers, and executives from various key organizations operating in the encryption software market.

  • By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
  • By Designation: C-Level: 35%, Director-Level: 25%, and Others: 40%
  • By Region: North America: 45%, APAC: 20%, Europe: 30%, RoW (MEA and Latin America): 5%

The report includes the study of the key players offering encryption software solutions. It profiles major vendors in the global encryption software market. The major vendors include IBM (US), Microsoft (US), Symantec (US), Thales e-Security (France), Trend Micro (Japan), Sophos (UK), Check Point (Israel), Micro Focus (UK), McAfee (US), Dell (US), WinMagic (US), ESET (US), Cryptomathic (Denmark), Bitdefender (Romania), Stormshield (France), and CipherCloud (US). It also includes an in-depth competitive analysis of the key players in the encryption software market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.

Research coverage

The report segments the global encryption software market by component, services, application, deployment mode, enterprise size, and region. The encryption software market by application has disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption categories. The component segment comprises of software and services. The services segment has professional services and managed services. The encryption software market by deployment mode covers cloud and on-premises. On the basis of enterprise size, the encryption software market has Small and Medium-sized Enterprises (SMEs) and large enterprise segments. The report also covers the encryption software market with respect to 5 major regions: North America, Europe, APAC, Latin America, and Middle East and Africa (MEA).

The report would help the market leaders and new entrants in the global encryption software market in the following ways:

  • The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across trading types and regions.
  • It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
  • It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bitdefender
  • CipherCloud
  • Dell
  • IBM
  • Micro Focus
  • Sohpos
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Encryption Software Market
4.2 Market Share of Top 3 Verticals and Regions, 2019
4.3 Market Top 3 Applications, 2019–2024
4.4 Encryption Software Market Investment Scenario

5 Encryption Software Market Overview and Industry Trends
5.1 Introduction
5.2 Encryption Software Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Regulatory Standards and Data Privacy Compliances
5.2.1.2 Rising Concerns Pertaining to Loss of Critical Data
5.2.1.3 Exponential Increase in the Adoption of Cloud and Virtualization Technologies
5.2.2 Restraints
5.2.2.1 Budgetary Constraints
5.2.2.2 Availability of Free, Open Source, and Pirated Encryption Software
5.2.3 Opportunities
5.2.3.1 Rise in Demand for Integrated Data Protection Solutions and Eaas Among SMES
5.2.3.2 Increased Adoption of Encryption Software Across Verticals
5.2.4 Challenges
5.2.4.1 Difficulties in Effective Management and Usage of the Encryption Key
5.2.4.2 Lack of Skilled Workforce Among Enterprises
5.3 Regulatory Compliances
5.3.1 General Data Protection Regulation
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 Payment Card Industry Data Security Standard
5.3.7 Federal Information Processing Standards
5.4 Use Cases
5.4.1 Use Case: Scenario 1
5.4.2 Use Case: Scenario 2
5.4.3 Use Case: Scenario 3
5.4.4 Use Case: Scenario 4

6 Encryption Software Market By Component
6.1 Introduction
6.2 Software
6.2.1 Increasing Demand for Ensuring Privacy of Sensitive Data to Fuel the Demand for Encryption Software in the Market
6.3 Services
6.3.1 Professional Services
6.3.1.1 Support and Maintenance Services
6.3.1.1.1 Growing Demand to Streamline the Deployment Process to Fuel the Demand for Support and Maintenance Services
6.3.1.2 Training and Education Services
6.3.1.2.1 Increasing Demand for Facilitating the Needs of End Users to Drive the Growth of Training and Education Services
6.3.1.3 Consulting Services
6.3.1.3.1 Technologies Involved in Implementing Encryption Software Solutions to Boost the Growth of Consulting Services
6.3.2 Managed Services
6.3.2.1 Increasing Need to Reduce Data Breaches and Protect Intellectual Property to Fuel the Demand for Managed Services

7 Encryption Software Market By Application
7.1 Introduction
7.2 Disk Encryption
7.2.1 Growing Demand to Effectively Encrypt the Entire Data of the Disk to Fuel the Growth of the Disk Encryption Application
7.3 File/Folder Encryption
7.3.1 Growing Need to Safeguard Files and Folders on DesKTops and Smartphones to Pave the Way for File/Folder Encryption Application
7.4 Database Encryption
7.4.1 Increasing Data Breaches and Thefts to Fuel the Demand for Database Encryption Applications
7.5 Communication Encryption
7.5.1 Need to Prevent the Loss of Sensitive Information to Fuel the Demand for Communication Encryption Applications
7.6 Cloud Encryption
7.6.1 Increasing Demand to Enhance Mobility and Scalability to Fuel the Demand for Cloud Encryption Applications

8 Encryption Software Market By Deployment Mode
8.1 Introduction
8.2 On-Premises
8.2.1 Growing Need to Manage the Huge Amount of Data to Pave the Way for On-Premises Deployment Mode
8.3 Cloud
8.3.1 Cost-Effectiveness and Scalability to Pave the Way for Organizations to Adopt Cloud-Based Encryption Software

9 Encryption Software Market By Enterprise Size
9.1 Introduction
9.2 Large Enterprises
9.2.1 Growing Need for Securing Data From Vulnerabilities to Fuel the Adoption of Encryption Software Among Large Enterprises
9.3 Small and Medium-Sized Enterprises
9.3.1 Rising Security Issues Compel Small and Medium-Sized Enterprises to Focus on the Adoption of Encryption Software

10 Encryption Software Market By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Encryption Software to Help Financial Institutions Effectively Secure Sensitive Information and Ensure Data Privacy
10.3 Aerospace and Defense
10.3.1 Increasing Deployment of Encryption Software in the Aerospace and Defense Vertical to Protect Information From Cyberattacks
10.4 Healthcare
10.4.1 Growing Need for Securing Patients’ Data to Boost the Adoption of Encryption Software in the Healthcare Vertical
10.5 Government and Public Utilities
10.5.1 Encryption Software to Help Improve the Security of Critical Information and Reduce the Threat of Unauthorized Access in Government and Public Utilities Vertical
10.6 IT and Telecommunication
10.6.1 Growing Need for Providing Secured Information and Encryption Services to Fuel the Growth of Encryption Software in the IT and Telecommunication Vertical
10.7 Retail
10.7.1 Retail Companies to Deploy Encryption Software for Safeguarding Customers’ Sensitive Information
10.8 Others

11 Encryption Software Market By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Growing Need to Secure Private Data to Fuel the Demand for Encryption Software in the US
11.2.2 Canada
11.2.2.1 Increasing Adoption of Encryption Solutions Across Various Verticals to Drive the Market Growth in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Focus on Securing Users’ Data and Addressing GDPR Requirements to Drive the Encryption Software Market in the UK
11.3.2 Germany
11.3.2.1 Increasing Instances of Spear Phishing Attacks and Internet Thefts to Increase the Demand for Encryption Software in Germany
11.3.3 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Increasing Investments in Encryption Solutions to Spur the Demand for Encryption Solutions in China
11.4.2 India
11.4.2.1 Growing Need for Securing Confidential Information to Drive the Growth of Encryption Software in India
11.4.3 Australia and New Zealand
11.4.3.1 Rising Data Leakage Instances Across Anz to Boost the Growth of Encryption Software in Anz
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East
11.5.1.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt Encryption Software in the Middle East
11.5.2 Africa
11.5.2.1 Increase in Number of Tech Ventures to Lead to the Growth of Encryption Software Market in Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Rapid Surge in Usage of Sensitive Data for Sharing Vital Information Among Customers to Increase the Demand for Encryption Software in Brazil
11.6.2 Mexico
11.6.2.1 Rise in the Adoption of Cloud-Based Solutions and Services to Fuel the Growth of Market in Mexico
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Strength of Product Portfolio
12.3 Business Strategy Excellence
12.4 Competitive Leadership Mapping (Start-Up/SMEs)
12.4.1 Progressive Companies
12.4.2 Responsive Companies
12.4.3 Dynamic Companies
12.4.4 Starting Blocks

13 Company Profiles
13.1 Introduction
Business Overview, Products Offered, Recent Developments, SWOT Analysis, and Author's View
13.2 IBM
13.3 Microsoft
13.4 Symantec
13.5 Thales e-Security
13.6 Trend Micro
13.7 Sohpos
13.8 Check Point
13.9 Micro Focus
13.10 McAfee
13.11 Dell
13.12 WinMagic
13.13 ESET
13.14 Cryptomathic
13.15 Bitdefender
13.16 Stormshield
13.17 CipherCloud

Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and Author's View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables (72 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Encryption Software Market Size and Growth Rate, 2017–2024 (USD Million, Y-O-Y %)
Table 4 Market Size By Component, 2017–2024 (USD Million)
Table 5 Services: Market Size By Region, 2017–2024 (USD Million)
Table 6 Professional Services Market Size, By Type, 2017–2024 (USD Million)
Table 7 Professional Services Market Size, By Region, 2017–2024 (USD Million)
Table 8 Support and Maintenance Services Market Size, By Region, 2017–2024 (USD Million)
Table 9 Training and Education Services Market Size, By Region, 2017–2024 (USD Million)
Table 10 Consulting Services Market Size, By Region, 2017–2024 (USD Million)
Table 11 Managed Services Market Size, By Region, 2017–2024 (USD Million)
Table 12 Encryption Software Market Size, By Application, 2017–2024 (USD Million)
Table 13 Disk Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 14 File/Folder Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 15 Database Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 16 Communication Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 17 Cloud Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 18 Encryption Software Market Size, By Deployment Mode, 2017–2024 (USD Million)
Table 19 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 20 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 21 Encryption Software Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 22 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 23 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 24 Encryption Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 26 Aerospace and Defense: Market Size By Region, 2017–2024 (USD Million)
Table 27 Healthcare: Encryption Software Market Size By Region, 2017–2024 (USD Million)
Table 28 Government and Public Utilities: Market Size By Region, 2017–2024 (USD Million)
Table 29 IT and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 30 Retail: Market Size By Region, 2017–2024 (USD Million)
Table 31 Others: Market Size By Region, 2017–2024 (USD Million)
Table 32 Encryption Software Market Size, By Region, 2017–2024 (USD Million)
Table 33 North America: Market Size By Component, 2017–2024 (USD Million)
Table 34 North America: Market Size By Service, 2017–2024 (USD Million)
Table 35 North America: Market Size By Professional Service, 2017–2024 (USD Million)
Table 36 North America: Market Size By Application, 2017–2024 (USD Million)
Table 37 North America: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 38 North America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 39 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 40 North America: Market Size By Country, 2017–2024 (USD Million)
Table 41 Europe: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Professional Service, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Application, 2017–2024 (USD Million)
Table 45 Europe: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 46 Europe: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 47 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 48 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 49 Asia Pacific: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 50 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size By Professional Service, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size By Application, 2017–2024 (USD Million)
Table 53 Asia Pacific: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 54 Asia Pacific: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 55 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 56 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Professional Service, 2017–2024 (USD Million)
Table 60 Middle East and Africa: Encryption Software Market Size By Application, 2017–2024 (USD Million)
Table 61 Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 62 Middle East and Africa: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 63 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 64 Middle East and Africa: Market Size By Sub-Region, 2017–2024 (USD Million)
Table 65 Latin America: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 66 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 67 Latin America: Market Size By Professional Service, 2017–2024 (USD Million)
Table 68 Latin America: Market Size By Application, 2017–2024 (USD Million)
Table 69 Latin America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 70 Latin America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 71 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 72 Latin America: Encryption Software Market Size By Country, 2017–2024 (USD Million)

List of Figures (38 Figures)

Figure 1 Encryption Software Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Market to Witness Significant Growth in the Global Market During the Forecast Period
Figure 4 North America to Hold the Highest Market Share in 2019
Figure 5 Top 4 Revenue Segments of the Encryption Software Market
Figure 6 Increasing Instances of Cyber attacks on Critical Enterprise Data and Need for Compliance to Drive the Demand for Encryption Software
Figure 7 Banking, Financial Services, and Insurance Vertical and North American Region to Have the Highest Market Shares in 2019
Figure 8 Cloud Encryption Segment to Grow at the Highest CAGR During the Forecast Period
Figure 9 Asia Pacific to Emerge as the Best Market for Investments in the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Encryption Software Market
Figure 11 Top Methods to Safeguard the Data Stored in the Cloud
Figure 12 Services Segment to Witness A Higher CAGR During the Forecast Period
Figure 13 Managed Services Segment to Record A Higher CAGR During the Forecast Period
Figure 14 Support and Maintenance Services Segment to Record the Highest Growth Rate During the Forecast Period
Figure 15 Cloud Encryption Segment to Witness the Highest CAGR During the Forecast Period
Figure 16 Cloud Deployment Mode to Record A Higher Growth Rate During the Forecast Period
Figure 17 Small and Medium-Sized Enterprises Segment to Hold A Higher CAGR During the Forecast Period
Figure 18 IT and Telecommunication Vertical to Record the Highest Growth Rate During the Forecast Period
Figure 19 North America to Hold the Largest Market Size During the Forecast Period
Figure 20 India to Register the Highest CAGR During the Forecast Period
Figure 21 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 22 North America: Encryption Software Market Snapshot
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Encryption Software Market (Global) Competitive Leadership Mapping, 2018
Figure 25 Encryption Software Market Competitive Leadership Mapping, Startup Companies, 2018
Figure 26 IBM: Company Snapshot
Figure 27 IBM: SWOT Analysis
Figure 28 Microsoft: Company Snapshot
Figure 29 Microsoft: SWOT Analysis
Figure 30 Symantec: Company Snapshot
Figure 31 Symantec: SWOT Analysis
Figure 32 Thales E-Security: Company Snapshot
Figure 33 Thales E-Security: SWOT Analysis
Figure 34 Trend Micro: Company Snapshot
Figure 35 Trend Micro: SWOT Analysis
Figure 36 Sohpos: Company Snapshot
Figure 37 CheckPoint: Company Snapshot
Figure 38 Micro Focus: Company Snapshot

Note: Product cover images may vary from those shown
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  • Bitdefender
  • Check Point
  • CipherCloud
  • Cryptomathic
  • Dell
  • ESET
  • IBM
  • McAfee
  • Micro Focus
  • Microsoft
  • Sohpos
  • Stormshield
  • Symantec
  • Thales e-Security
  • Trend Micro
  • WinMagic
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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