Sarasota, FL, July 10, 2017 (GLOBE NEWSWIRE) -- Zion Market 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.
Encryption is a method that secures data by converting plain text into a cipher format during transmission. This method uses mathematical algorithms which convert the information into an unreadable format which can only retrieve using a secret code. The strength of an encryption code is calculated by its length which is determined by the number of bits used. The primary goal of encryption software is to encrypt and decrypt data, which also includes features such as shredding.
Browse through 13 Market Tables and 23 Figures spread through 110 Pages and in-depth TOC on "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, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”.
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With the rising proliferation of cloud and mobile devices among enterprises, the data security concerns are also increasing. Moreover, it heightens the inclination of the data breach, theft and loss, commercial espionage, and cyber-attacks across several companies. With the rising strength and volume of commercial espionage among diverse industries pertaining to critical information, the security of data is of prime importance. Thus, the embracement of advanced data security solutions has become crucial to companies. In addition, the strict regulatory compliance among diverse industry verticals such as BFSI and healthcare has mandated the implementation of data security solutions that are compliant with the certain standards.
Excessive use of computers is guiding hackers to commit corporate espionage to get financial benefits. The emergence of new technologies is guiding cyber crimes such as stealing data sent through files or emails or stored in the cloud. Encryption software is a major breakthrough for solving this problem which is a driver of this market. Additionally, this software is easy to use, requires less time and is compatible with existing operating systems which can be customized as per requirements (disk encryption, email encryption, file encryption, etc.). Many countries are venturing into the maturity of public networks, process application, and e-commerce. This would have the direct impact on demand for encryption software in the market. Major end users of the software are corporate, government and military organizations. Encryption software demand will be fueled by growing IT budget of the companies in near future. The rise in data breaches since the past couple of years, growing confidentiality of data over the Internet, growing adoption of cloud & virtualization and increasing data mobility are prime factors that have fueled the overall development of the market.
Browse the full " Global 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, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021 " report at https://www.zionmarketresearch.com/report/enc...are-market
North America has dominated the encryption software market with the maximum market share in terms of revenue. It accounted approximate 50% of the share in the global encryption software market.
The major encryption software providers including Symantec, Microsoft, Check Point Software Technologies, Trend Micro and Sophos Ltd. are offering advanced encryption solutions, depending on the specific needs of clients. Besides, several other technology providers are also innovating techniques related to advanced encryption that may incorporate organizational data to provide robust data security.
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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
Global Encryption Software Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East & Africa
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