Sarasota, FL, Sept. 28, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Encryption Software Market by Deployment Type (Cloud and on-Premise) for Encryption for Data-at-Rest, Full Disc Encryption, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021” . According to the report, the global encryption software market accounted for about USD 2.20 billion in 2015 and is expected to reach around USD 7.17 billion by 2021, growing at a CAGR of around 21.7% between 2016 and 2021.
Software-based encryption is one of the rapidly emerging end point data security solutions. An increasing number of organizations worldwide are adopting encryption solutions to address their rising concerns of data safety and data privacy compliance regulations. In addition to the complex regulations, increasing adoption of technologies such as mobility, cloud and virtualization have also fuelled the need for encryption more than ever before. The main function of encryption software is to protect the confidentiality of the data stored in files or folders. This is achieved by converting a message or plain text into coded message called the cipher text so that only the authorized person can read it.
Browse through 13 Market Tables and 23 Figures spread over 110 Pages and in-depth TOC on “Encryption Software Market: By Deployment Type, Applications, Size, Share, Trends, Opportunities, and Verticals".
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North America holds the highest market share in the encryption software market. It accounted for around 50% of the market share of the global encryption software market. Usage of cloud and BYOD solutions is highest in North America. With new emerging technologies of cloud database or Database as a service, cloud-based database encryption market is expected to show tremendous growth opportunities during the forecast period.
Europe is the second largest region which highly encourages the use of freeware encryption, (FDE full disk encryption) and other software encryption techniques to secure the data from breach. Different business groups are implementing suitable & strong encryption software across Europe. Demand for more sophisticated encryption software is also growing due to growing complexities of cyber attacks and thefts.
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Asia Pacific is also one of the largest regions in the encryption software market with high scope for the encryption software, email encryption software and other software for data security. The region is projected to grow at highest rate due to the growing penetration of cloud computing and increasing workforce mobility. China, Japan, India and South Korea are the major regions for the data encryption software industry due to their dynamic growth in the region.
Latin America is expected to grow at moderate pace. Rising cyber espionage by foreign countries is inducing the need for safeguarding the cyber space. The need for governing the data privacy and need to control data leakages in the cloud systems are the factors that are driving the encryption software market in the Latin America region.
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The Middle East and Africa is also expected to grow moderately in the forecast period. Rising adoption of cloud services, development in enterprise IT infrastructure, increasing adoption of e-governance by local governments and outsourcing are the major factors for the growth of encryption software market in this region.
The key participant in the encryption software market is IBM, Microsoft, Sophos ltd, Gemalto, Net App Inc, Hewlett- Packard, Vormetric, Oracle, Intel and Symantec.
This report segments the global encryption software market as follows:
Global Encryption Software Market: Deployment Type Segment Analysis
- Cloud
- On-Premises
Global Encryption Software Market: Application Segment Analysis
- Encryption for Data-at-rest
- Full Disc Encryption (FDE)
- File Level Encryption
- Others
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Global Encryption Software Market: Regional Segment Analysis
- North America
- S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East & Africa
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