Encryption Software Market is Expected to Grow at a CAGR of 15.5% Over the Forecast Period (2019 – 2027), With the Growing Demand for Full Disk Encryption Among Enterprises, Says Absolute Markets Insights

Full disk encryption is a cryptographic method that applies encryption to the entire hard drive including data, files, operating system and software program. As full disk encryption places an exterior guard on the internal contents of the device, it is the most sought after forms of encryption and holds a major share in the encryption software market. With regulators such as the Financial Services Authority (FSA) imposing almost seven figure fines for insufficient protection personal data, the role of data encryption has become pivotal.

Unlike traditional methods of full disk encryption, the current process to encrypt hard drives is simpler and is supported by all the major vendors in the encryption software market . For instance, Apple offers built-in encryption for both mobile iOS and desktop systems. On similar lines, Android supports encryption out of the box and Microsoft Windows offers its own native encryption software through BitLocker. However, with the availability of BitLocker for higher-end versions of Windows only, lower-tiered versions of Windows are utilizing third-party encryption program like VeraCrypt. Several companies are offering full disk encryption solutions for enterprises of all sizes. For instance, Jetico’s BestCrypt enables admins to remotely manage disk encryption software with speed, convenience and better authentication controls while delivering more sophisticated control over authentication for SSO & TPM.

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“The increasing number of data breaches and the accompanied regulation enforcements, is prompting organizations of all sizes to deploy data encryption which is driving the encryption software market. Numerous public announcements naming and shaming organizations who failed to use full disk encryption have necessitated the use of encryption software by enterprises. Full disk encryption being able to encrypt entire hard drive including data, files, the operating system and software programs, is acting as the foundation for information security policies and compliance programs. Hence, the global encryption software market is augmented by numerous merits of full-disk encryption.”

In terms of revenue, the encryption software market stood at US$ 2,850.21 Mn in 2018, and is anticipated to reach US$ 10,407.79 Mn by 2027, expanding at a CAGR of 15.5% during the forecast period (2019 – 2027). The detailed research study provides qualitative and quantitative analysis of encryption software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

Some of the players operating in encryption software market are ACI Worldwide, Inc., BAE Systems, Cyxtera Technologies, Inc., Dell Inc., Distil, Inc., DXC Technology, Experian Information Solutions, Inc., Fair Isaac Corporation (FICO), First Data Corporation, FIS, Fiserv, Inc., FRISS , Guardian Analytics, IBM Corporation, iovation Inc., Kount Inc., LexisNexis, MaxMind, Inc., NICE, Oracle, SAP SE, SAS Institute Inc., Securonix, Inc., SIMILITY , Software AG, ThreatMetrix and Wirecard AG amongst others.

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Encryption Software Market:

By Deployment:

  • On-premise
  • Cloud-based

By Organization Size:

  • Small and Medium Enterprises
  • Large Enterprises

 By Type:

  • Full Disk Encryption
  • Folder/File Encryption
  • Database Encryption
  • Network Traffic Encryption
  • Others (Virtual Disk Encryption, Application Encryption, etc.)

By Vertical:

  • Banking, Financial Services and Insurance (BFSI)
  • Education
  • Media and Telecom
  • Aerospace and Defense
  • Healthcare
  • Others (Legal, Retail, etc.)

By Geography:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Benelux Union
  • Belgium
  • The Netherlands
  • Luxembourg
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
  • Rest of Asia Pacific

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

 

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Contact Name: Shreyas Tanna
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Email id: sales@absolutemarketsinsights.com
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Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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