Tuesday 10 March 2015, Amsterdam
The report, now available on ASDReports, “Encryption Software Market by Applications (Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), by Deployment Type (Cloud, On-Premises) & by Regions (NA, Europe, APAC, MEA, LA) - Global Forecast and Analysis 2014 - 2019 ”, defines the global encryption software market based on its applications, deployment types, user types, and industry verticals with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
The expansive embracement of PCs among organizations across all regions has redefined the work pattern. In addition, the propagation of mobile devices across the world complemented with the ease in access to business content has comprehensively enhanced the employee efficiency. Further, with the escalating Bring Your Own Device (BYOD) trend among companies supplemented with superior internet connectivity has broadly leveraged organizations. This has extensively led to the consumption and generation of vast amount of data that is transferred across these mobile devices such as smartphones, DVDs and USBs, and vice versa. However, this has made this data susceptible to cyber-attacks, commercial espionage, threats, and loss. Thus, to defend their sensitive and critical content, protect the authenticity of the data, and evade breach of privacy, the enterprises and Small and Medium Businesses (SMBs) categorically consider encryption software solutions within their organizations. Since, the prevalent anti-virus and firewalls across companies offer the basic level of security to the content, the need for comprehensive security solution ranging from disks, file/folder, databases, communication to cloud are demanded globally.
There has been a continual technological advancement related to data accessibility technics. With the large scale usage of mobile devices for accessing and transmitting organizational content, companies have been comprehensively leveraged in making timely and informed organizational decisions. In addition, the widespread embracement of cloud, social media and internet has further improved business functioning along with increasing the data being generated and accessed through mobile devices. These pervasive progressions and ease of data accessibility have boosted the profitability and increased the business efficiency. However, this data that resides within the companies and which constantly travels over the business networks through emails and or is stored in cloud becomes vulnerable to tampering, attacked, misuse, and loss. To cohesively protect this sensitive content, the enterprises and SMBs have been primarily considering the implementation of encryption solutions ranging from disks, file/folder, databases, communication to cloud. These encryption solutions provision comprehensive security to business data that is within the organizations, in cloud and which travels beyond the companies through various means including emails, messages, and mobile devices. These solutions safeguard the valuable data of the businesses from commercial espionage, cyber-attacks, fraudulent activities, and privacy breaches. In addition, these encryption solutions also prevent unauthorized access, and provide advanced and customized encryption for superior protection of data.
Further, these encryption solutions are expansively embraced for provisioning of continual security to large organizational content accessed and transmitted across diverse devices regardless of location. These encryption solutions can be customized to address the business needs of the SMBs and enterprises and are easily deployed on the cloud and on-premises. Currently, hosted encryption software is largely being adopted by the users to comprehensively secure their content from threats and perils of loss. Further, the commencement and provision of these prevalent encryption solutions has enabled the encryption software vendors, third-party providers and cloud vendors to offer exclusively customized encryption solutions precisely addressing the needs of the businesses. Thus, encryption plays the crucial role in protecting the data, which forms the most valuable and sensitive assets for the companies, along with securing the privacy of its employees.
The major vendors of the global encryption software market are Microsoft Corporation, Symantec Corporation, Intel Corporation, and Check Point Software Technologies Ltd. The major forces driving this market are the presence of a dynamic business environment, increasing cyber-attacks, growing concern about data loss among the companies, and obligatory need for adhering with standards.
MarketsandMarkets expects the global encryption software market to grow from $1.85 billion in 2014 to $4.82 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period 2014–2019
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