Encryption Software Market Trends and Growth by 2028 |
Posted: June 6, 2023 |
IMARC Group, a leading market research company, has recently releases report titled “Encryption Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global encryption software market growth, share, size, trends, and demand forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. How big is the encryption software market? The global encryption software market size reached US$ 12.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.6 Billion by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028. What is the encryption software? Encryption software is a program-based application that uses cryptography techniques to protect confidential information by prohibiting unauthorized access. It employs mathematical algorithms to encrypt data files, network packets, or applications into a coded message or cipher text, which can only be decrypted to its original form through a key. Encryption software increases the integrity of crucial data, eliminates fraudulent activities, such as data breaching and hacking, ensures data backup, provides optimal privacy, and mitigates regulatory fines. Consequently, encryption is used for transmitting data, disk, communication, folder, and cloud encryptions. Market Trends: Rapid digitalization and the increasing cases of data breaching, especially in the telecommunications sector, have facilitated the widespread adoption of encryption software across various industries to protect the massive volume of data, which is primarily driving the market growth. Additionally, the extensive uptake of bring-your-own-device (BYOD), work-from-home (WFH), and cloud computing models during the COVID-19 pandemic has heightened the risk of data loss and unauthorized access. This, in turn, is supplementing the need for encryption software to prevent commercial espionage. Moreover, the implementation of government data compliance regulations, including the payment card industry data security standard (PCI-DSS) and health insurance portability and accountability act (HIPAA), are favoring the market growth. Besides this, the rising need for effective cloud data security technologies to strengthen the overall cybersecurity measures of the company and the integration of the internet of everything (IoE) to authenticate and ensure confidentiality of files are supporting the market growth. Get the Sample Report: https://www.imarcgroup.com/encryption-software-market/requestsample Competitive Analysis and Segmentation: Competitive Landscape with Key Players: The competitive landscape of the global encryption software market has been studied in the report with the detailed profiles of the key players operating in the market. Encryption Software Key Companies:
Market Segmentation: The report has segmented the global encryption software market on the basis of component, deployment model, organization size, function, industry vertical and region. Breakup by Component:
Breakup by Deployment Model:
Breakup by Organization Size:
Breakup by Function:
Breakup by Industry Vertical:
Breakup by Region:
Explore Full Report Description At: https://www.imarcgroup.com/encryption-software-market Key Highlights of the Report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization. About Us IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. Contact US IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA USA: +1-631-791-1145 | Asia: +91-120-433-0800 Email: [email protected] Follow us on Twitter: @imarcglobal LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
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