As organizations have adapted to increasingly pervasive regulatory and compliance mandates and more stringent internal policies, encryption deployments have risen in number and scope in major enterprises. The “bring your own device” (BYOD) phenomenon, and it’s incredibly fast and pervasive adoption by almost every organization necessitated a fundamental rethinking of security approaches and it is found that organizations are deploying many disparate encryption platforms. And as a result, managing policies and keys both efficiently and securely is an increasingly troublesome challenge.
BFSI Industry to Have the Largest Market Share during the Forecast Period
The BFSI sector is faced with a number of data breach and cyber-attacks owing to the large customer base that the industry serves. Data breaches leads to the exponential rise in costs and loss of valuable customer information. For instance, in the recent past Taiwan’s Far Eastern International Bank incurred a loss of around 60 million by a malware. With the aim to secure their IT processes and systems, secure customer critical data and comply with government regulations, both private and public banking institutes are focused on implementing the latest technology to prevent cyberattacks. Also, with greater customer expectation, growing technological capabilities and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. The growing technological penetration coupled with the digital channels such as internet banking, mobile banking, becoming the preference choice of customers for banking services, there is a greater need for banks to leverage advanced authentication and access control encryption processes.
Key Developments in the Market
- July 2017: Symantec acquired the U.S. and Israel-based Skycure. After this acquisition, Skycure’s predictive threat detection techniques enriched Symantec’s enterprise and consumer mobility offerings to help organizations more confidently address the needs of the increasingly mobile workforce, enabling them to ensure that devices are risk-free and secure while accessing corporate resources.
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1.1 Study Deliverables
1.2 Market Definition
1.3 Key Findings of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.2 Market Drivers
4.2.1 Need For Stringent Compliance And Regulatory Requirements
4.2.2 Increasing Concern For Data Security And Privacy Of Intellectual Property
4.3 Market Restraints
4.3.1 Lack Of Awareness And Skilled Workforce
4.4 Industry Value Chain Analysis
4.5 Porter’s Five Forces Analysis
4.5.1 Bargaining power of Suppliers
4.5.2 Bargaining power of Buyers
4.5.3 Degree of Competition
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitute Products
5. Market Segmentation
5.2.1 Disk Encryption
5.2.2 File/Folder Encryption
5.2.3 Communication Encryption
5.2.4 Cloud Encryption
5.3 Deployment Type
5.3.1 On -Premise
5.4 Enterprise Size
5.4.2 Large Enterprises
5.5.2 Aerospace & Defense
5.5.4 Government & Public Sector
5.6.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of APAC
5.6.4 Latin America
18.104.22.168 Rest of Latin America
5.6.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of MEA
6. Competitive Intelligence- Company Profiles
6.1 Check Point Software Technologies, Ltd.
6.2 Dell Technologies, Inc.
6.4 Gold Line Group Ltd.
6.5 Hewlett Packard Enterprise
6.6 Huawei Technologies Co. Ltd.
6.7 IBM Corporation
6.8 Intel Corporation
6.9 KoolSpan, Inc.
6.10 MobileIron, Inc.
6.11 Open Whisper Systems
6.12 Proofpoint, Inc.
6.14 Silent Circle, LLC
6.15 Sophos Ltd.
6.16 Symantec Corporation
6.17 T-Systems International GmbH
*list not exhaustive
7. Investment Analysis
8. Future of Market