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Global Encryption Software Market

The global encryption software market was valued at $9.5 billion in 2019 and is projected to reach $21 billion by 2026, growing at a CAGR of 15.5% due to increasing awareness of digital security threats. The market is segmented by deployment, applications, and regions. On-premise deployment currently dominates but cloud-based is expected to grow faster. Disk encryption has the largest market share while cloud encryption is projected to grow the most. Asia Pacific and North America currently dominate the market.

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78 views3 pages

Global Encryption Software Market

The global encryption software market was valued at $9.5 billion in 2019 and is projected to reach $21 billion by 2026, growing at a CAGR of 15.5% due to increasing awareness of digital security threats. The market is segmented by deployment, applications, and regions. On-premise deployment currently dominates but cloud-based is expected to grow faster. Disk encryption has the largest market share while cloud encryption is projected to grow the most. Asia Pacific and North America currently dominate the market.

Uploaded by

Pulkit Batra
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Global Encryption Software Market by Deployment (On-Premise, and Cloud-

Based), Applications (Disk Encryption, File/Folder Encryption, Database


Encryption, Web Communication Encryption, Network Traffic Encryption,
Cloud Encryption), and Regions (Asia Pacific, North America, Latin America,
Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share,
Size, Trends, and Forecast 2020 – 2026

The global encryption software market was valued at USD 9.5 Billion in 2019 and is
projected to reach USD 21 Billion by 2026, expanding at a CAGR of 15.5% during the forecast
period, 2020 – 2026. The growth of the market is attributed to the increasing awareness
towards serious threats to digital security.

Encryption software enable users to verify that they are communicating with the right
people, lets the communicator know about potential unintentional vulnerabilities, and
increase risks that communications systems could be abused or misused

Market Trends, Drivers, Restraints, and Opportunities:

 The major driver for the growth of this market is the rising awareness towards
threats to digital security.
 The importance of undermined authentication process fuels up the growth of this
market.
 The need for preventing data comptonization leads to market expansion.
 Advancements in the smartphone market are anticipated to catapult the demand in
the encryption software market.
 Businesses are gradually shifting towards cloud computing.
 There is an overall surge for safeguarding sensitive data.

Scope of the Report

The report on the global encryption software market includes an assessment of the market,
trends, segments, and regional markets. Overview and dynamics have also been included in
the report.

Attributes Details
Base Year 2019
Historic Data 2018–2019
Forecast Period 2020–2026
Regional Scope Asia Pacific, North America, Latin America,
Europe, and Middle East & Africa
Report Coverage Company Share, Market Analysis and Size,
Competitive Landscape, Growth Factors,
and Trends, and Revenue Forecast

Global Encryption Software Market Segment Insights:

On the basis of deployment, the global encryption software market is divided into on-
premise and cloud-based.

The on-premise segment accounts for a larger share in the market in terms of revenue than
cloud-based. However, over the forecast period the cloud-based segment is estimated to
have a higher CAGR of over 17.0% during the forecast period. Companies which are
adopting cloud storage solutions and expanding cloud infrastructure are contributing to the
growth of cloud-based solutions. Furthermore, establishment of new businesses in
emerging economies bolster the demand for cloud-based deployment.

In terms of applications, the market is segmented into disk encryption, file/folder


encryption, database encryption, web communication encryption, network traffic
encryption, cloud encryption.

The market of disk encryption is anticipated to have a high share in the global encryption
software market. The key reason behind disk encryption market having a considerate
market share is that encrypted disks are safe as the access to their contents remain limited
to the authorized user only, even if they get stolen or misplaced. The cloud encryption
market is expected to grow at a substantial CAGR during the forecast period. The major
driver behind it is that cloud encryption offers flexibility in terms of scalability and usage
policy

Based on regions, the market is categorized into Asia Pacific, North America, Latin America,
Europe, and Middle East & Africa. Markets in Asia Pacific and North America dominates the
overall market.

The Asia Pacific market is projected to be a promising destination for market players during
the forecast period. There is a lack of storage infrastructure in the Asia Pacific market, which
has led businesses to store data on cloud. This has resulted in an increased risk of thefts and
data losses, which further leads to a rise in demand for encryption software. In countries
like India and China, due to the development in the manufacturing sector, the demand for
encryption software is expected to rise over the forecast period.

IT & telecom sector in the North American region is well established. It produces huge
amounts of data that needs to be safeguarded, which drives the encryption market in the
region.

Competitive Landscape:
Key players in the global encryption market are Trend Micro, Symantec, InterCrypto, IBM,
Hewlett Packard, Entrust, East-Tec, Cisco, Check Point Software Technologie, and
Bloombase.

These players offer data protection solutions to small & medium businesses (SBMs) and
enterprises. These players in this market focus on improving creative processes associated
to advanced cryptography to provide robust data security.

Segments Covered in the Report

The global encryption software market has been segmented on the basis of

Deployment

 On-premises
 Cloud-based

Applications

 Disk Encryption
 File/Folder Encryption
 Database Encryption
 Web Communication Encryption
 Network Traffic Encryption
 Cloud Encryption

Regions

 Asia Pacific
 North America
 Latin America
 Europe
 Middle East & Africa

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