HOME Top Market Reports Encryption Software Market by Application (Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), Service, Deployment Type, User Type, Industry Vertical, Region - Global Forecast to 2021

Encryption Software Market by Application (Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption), Service, Deployment Type, User Type, Industry Vertical, Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: October 2016
Report Code: TC 3110

 

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The encryption software market size is estimated to grow from USD 3.05 Billion in 2016 to USD 8.94 Billion by 2021, at an estimated CAGR of 24.0%. The base year considered for the study is 2015 and the market size forecast is from 2016 to 2021.

The objective of the report is to define, describe, and forecast the encryption software market on the basis of application, service, deployment type, user type, industry vertical, and region. The report analyzes the opportunities in the market for stakeholders by identifying high-growth segments of the market. Furthermore, the report strategically profile the key players of the market and comprehensively analyze their core competencies such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations. Moreover, the report also covers detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

The research methodology used to estimate and forecast the encryption software market begins with capturing data on key security vendors through secondary sources such as Information Systems Security Association (ISSA), Information Security Research Association (ISRA), SANS Institute, and other sources such as company financials, journals, press releases, paid databases, and annual reports. The vendor product and services offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size, from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, executives, and encryption software technologists. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the below figure.

Encryption Software Market

To know about the assumptions considered for the study, download the pdf brochure

The encryption software ecosystem comprises major vendors such as Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), CheckPoint Software Technologies Ltd. (Israel)., Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and WinMagic Inc. (Canada); service providers; and system integrators. Other stakeholders include encryption software solutions providers, consulting firms, IT service providers, value added resellers, enterprise users, and security technology providers.

Key target audiences of encryption software market report are given below:

  • Government agencies
  • Encryption software vendors
  • Independent software vendors
  • Consulting firms
  • System integrators
  • Value-Added Resellers (VARs)
  • Managed Security Service Providers (MSSPs)

“The study answers several questions for the stakeholders; primarily, which market segments to focus in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report segments the encryption software market to following submarkets:

By Application:

  • Disk Encryption
  • File/Folder Encryption
  • Database Encryption
  • Communication Encryption
  • Cloud Encryption

By Service:

  • Professional service
  • Managed service

By Deployment Type:

  • Cloud
  • On-premise

By User Type:

  • Small and Medium Enterprises (SMEs)
  • Large enterprises

By Industry Vertical:

  • BFSI
  • Healthcare
  • Government & Public Sector
  • Telecom
  • Retail
  • Aerospace & Defense
  • Others

By Region:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North America encryption software market
  • Further breakdown of the Europe market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin America market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Global Market
    4.2 Global Encryption Software Market: Top Three Applications, 2016–2021
    4.3 Global Encryption Software Market: By Industry Vertical and Region, 2016
    4.4 Lifecycle Analysis, By Region 2016

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Application
           5.3.2 By Service
           5.3.3 By Deployment Type
           5.3.4 By User Type
           5.3.5 By Industry Vertical
           5.3.6 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Stringent Regulatory Standards and Compliances
                    5.4.1.2 Manifestation of Dynamic Business Environment Across Industry Verticals
                    5.4.1.3 Increasing Concerns Pertaining to Loss of Critical Data
                    5.4.1.4 Availability of Flexible Encryption Software Product Offerings
           5.4.2 Restraints
                    5.4.2.1 Increasing Operational Costs
                    5.4.2.2 Emergence of Hardware-Based Full Disk Encryption
           5.4.3 Opportunities
                    5.4.3.1 Increasing Demand for Integrated Data Protection Solutions
                    5.4.3.2 Emergence and Implementation of Software as A Service Based Solutions
           5.4.4 Challenges
                    5.4.4.1 Inefficiency in Management and Usage of Encryption Key
                    5.4.4.2 Difficulty in the Management of Process Generated Data

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Standards and Regulations
           6.3.1 Advanced Encryption Standards
           6.3.2 Federal Information Processing Standards
           6.3.3 Payment Card Industry Data Security Standard
           6.3.4 Health Insurance Portability and Accountability Act

7 Encryption Software Market Analysis, By Application (Page No. - 45)
    7.1 Introduction
    7.2 Disk Encryption
    7.3 File/Folder Encryption
    7.4 Database Encryption
    7.5 Communication Encryption
    7.6 Cloud Encryption

8 Encryption Software Market Analysis, By Service (Page No. - 53)
    8.1 Introduction
    8.2 Professional Services
    8.3 Managed Services

9 Encryption Software Market Analysis, By Deployment Type (Page No. - 57)
    9.1 Introduction
    9.2 Cloud Deployment
    9.3 On-Premises Deployment

10 Encryption Software Market Analysis, By User Type (Page No. - 61)
     10.1 Introduction
     10.2 Small and Medium Enterprises
     10.3 Large Enterprises

11 Encryption Software Market Analysis, By Industry Vertical (Page No. - 65)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Healthcare
     11.4 Government and Public Sector
     11.5 Telecom
     11.6 Retail
     11.7 Aerospace and Defense
     11.8 Others

12 Geographic Analysis (Page No. - 74)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia-Pacific (APAC)
     12.5 Middle East and Africa (MEA)
     12.6 Latin America

13 Competitive Landscape (Page No. - 95)
     13.1 Overview
     13.2 Competitive Situation & Trends
             13.2.1 Agreements, Partnerships, and Collaborations
             13.2.2 Mergers and Acquisitions
             13.2.3 New Product Launches
             13.2.4 Business Expansions

14 Company Profiles (Page No. - 101)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     14.1 Introduction
     14.2 Microsoft Corporation
     14.3 Sophos Ltd.
     14.4 Checkpoint Software Technologies
     14.5 Trend Micro, Inc.
     14.6 Symantec Corporation
     14.7 IBM Corporation
     14.8 SAS Institute, Inc.
     14.9 Intel Corporation (McaFee)
     14.10 EMC Corporation
     14.11 Winmagic, Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Key Innovators (Page No. - 140)
     15.1 Gemalto
     15.2 Pkware

16 Appendix (Page No. - 141)
     16.1 Other Developments
             16.1.1 Other Developments: Partnerships, Agreements, and Collaborations
             16.1.2 Other Developments: Mergers and Acquisitions
             16.1.3 Other Developments: New Product Launches
     16.2 Industry Experts
     16.3 Discussion Guide
     16.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.5 Introduction RT: Real-Time Market Intelligence
     16.6 Available Customizations
     16.7 Related Reports


List of Tables (57 Tables)

Table 1 Encryption Software Market Size and Growth, 2014–2021 (USD Million, Y-O-Y %)
Table 2 Market Size, By Application, 2014–2021 (USD Million)
Table 3 Disk Encryption: Market Size, By Region, 2014–2021 (USD Million)
Table 4 File/Folder Encryption: Market Size, By Region, 2014–2021 (USD Million)
Table 5 Database Encryption: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Communication Encryption: Market Size, By Region, 2014–2021 (USD Million)
Table 7 Cloud Encryption: Market Size, By Region, 2014–2021 (USD Million)
Table 8 Encryption Software Market Size, By Service, 2014–2021 (USD Million)
Table 9 Professional Services: Market Size, By Region, 2014–2021 (USD Million)
Table 10 Managed Services: Market Size, By Region, 2014–2021 (USD Million)
Table 11 Encryption Software Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 12 Cloud Deployment: Market Size, By Region, 2014–2021 (USD Million)
Table 13 On-Premises Deployment: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Market Size, By User Type, 2014–2021 (USD Million)
Table 15 Small and Medium Enterprises: Market Size, By Region, 2014–2021 (USD Million)
Table 16 Large Enterprises: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Encryption Software Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 18 Banking, Financial Services, and Insurance: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 20 Government and Public Sector: Market Size, By Region, 2014–2021 (USD Million)
Table 21 Telecom: Market Size, By Region, 2014–2021 (USD Million)
Table 22 Retail: Market Size, By Region, 2014–2021 (USD Million)
Table 23 Aerospace and Defense: Market Size, By Region, 2014–2021 (USD Million)
Table 24 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 25 Encryption Software Market Size, By Region, 2016–2021 (USD Million)
Table 26 North America: Market Size, By Application, 2014–2021 (USD Million)
Table 27 North America: Market Size, By Service, 2014–2021 (USD Million)
Table 28 North America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 29 North America: Market Size, By User Type, 2014–2021 (USD Million)
Table 30 North America: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 31 Europe: Encryption Software Market Size, By Application, 2014–2021 (USD Million)
Table 32 Europe: Market Size, By Service, 2014–2021 (USD Million)
Table 33 Europe: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 34 Europe: Market Size, By User Type, 2014–2021 (USD Million)
Table 35 Europe: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 36 Asia-Pacific: Encryption Software Market Size, By Application, 2014–2021 (USD Million)
Table 37 Asia-Pacific: Market Size, By Service, 2014–2021 (USD Million)
Table 38 Asia-Pacific: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 39 Asia-Pacific: Market Size, By User Type, 2014–2021 (USD Million)
Table 40 Asia-Pacific: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 41 Middle East and Africa: Market Size, By Application, 2014–2021 (USD Million)
Table 42 Middle East and Africa: Market Size, By Service, 2014–2021 (USD Million)
Table 43 Middle East and Africa: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 44 Middle East and Africa: Market Size, By User Type, 2014–2021 (USD Million)
Table 45 Middle East and Africa: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 46 Latin America: Encryption Software Market Size, By Application, 2014–2021 (USD Million)
Table 47 Latin America: Market Size, By Service, 2014–2021 (USD Million)
Table 48 Latin America: Market Size, By Deployment Type, 2016–2021 (USD Million)
Table 49 Latin America: Market Size, By User Type, 2014–2021 (USD Million)
Table 50 Latin America: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 51 Agreements, Partnerships, and Collaborations, 2014-2016
Table 52 Mergers and Acquisitions, 2014-2016
Table 53 New Product Launches, 2016
Table 54 Business Expansions, 2014-2016
Table 55 Other Developments: Partnerships, Agreements, and Collaborations, 2014-2015
Table 56 Other Developments: Mergers and Acquisitions, 2013-2014
Table 57 Other Developments: New Product Launches, 2014-2015


List of Figures (51 Figures)

Figure 1 Global Encryption Software Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Cloud Encryption is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 7 Managed Services Segment Expected to Grow at the A Higher CAGR During the Forecast Period
Figure 8 Cloud Deployment Type is Expected to Grow at the A Higher CAGR During Forecast Period
Figure 9 Small and Medium Enterprises Segment is Expected to Grow at A Higher CAGR During Th Forecast Period
Figure 10 Telecom Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 North America is Estimated to Hold the Largest Share of the Encryption Software Market in 2016
Figure 12 Rising Need to Protect Critical Business Information From Unauthorized Access is Expected to Boost the Market
Figure 13 Database Encryption is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 North America is Expected to Hold the Largest Share in the Global Encryption Software Application Market
Figure 15 Asia-Pacific has Immense Opportunities for the Growth of the Encryption Software Market
Figure 16 Evolution of the Encryption Software Market
Figure 17 Market Segmentation: By Application
Figure 18 Market Segmentation: By Service
Figure 19 Market Segmentation: By Deployment Type
Figure 20 Market Segmentation: By User Type
Figure 21 Market Segmentation: By Industry Vertical
Figure 22 Market Segmentation: By Region
Figure 23 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 24 Market Value Chain
Figure 25 Cloud Encryption Application to Grow at the Highest CAGR During the Forecast Period
Figure 26 Managed Services Segment to Grow at the Higher CAGR During the Forecast Period
Figure 27 Cloud Deployment Type is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 28 Small and Medium Enterprises Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 29 Telecom Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 Regional Snapshot: Asia-Pacific is the Emerging Region in the Market
Figure 31 Asia-Pacific: an Attractive Destination for All Encryption Software Applications
Figure 32 North America Encryption Software Market Snapshot
Figure 33 Asia-Pacific Encryption Software Market Snapshot
Figure 34 Companies Adopted Partnership/Agreement/Collaboration as the Key Growth Strategy During the Period 2014-2016
Figure 35 Battle for Market Share: Partnership, Agreement, and Collaboration is the Key Strategy Adopted By Leading Market Players
Figure 36 Market Evaluation Framework: Significant Number of New Product Launches Have Fueled the Growth of the Market From 2014-2016
Figure 37 Geographic Revenue Mix of Top Players
Figure 38 Microsoft Corporation: Company Snapshot
Figure 39 Microsoft Corporation: SWOT Analysis
Figure 40 Sophos Ltd.: Company Snapshot
Figure 41 Sophos Ltd.: SWOT Analysis
Figure 42 Check Point Software Technologies: Company Snapshot
Figure 43 Check Point Software Technologies: SWOT Analysis
Figure 44 Trend Micro, Inc.: Company Snapshot
Figure 45 Trend Micro, Inc. : SWOT Analysis
Figure 46 Symantec Corporation : Company Snapshot
Figure 47 Symantec Corporation: SWOT Analysis
Figure 48 IBM Corporation: Company Snapshot
Figure 49 SAS Institute: Company Snapshot
Figure 50 Intel Corporation (McaFee): Company Snapshot
Figure 51 EMC Corporation: Company Snapshot

The encryption software market size is expected to grow from USD 3.05 Billion in 2016 to USD 8.94 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 24.0% during the forecast period. The major growth drivers of the market include increasing concerns pertaining to critical data loss and theft, dynamicity of business environments across various industry verticals and compliance to regulations and guidelines.

The encryption software market is segmented by application, service, deployment type, user type, industry vertical, and region. The demand for encryption software based services is projected to grow significantly during the forecast period. Increasing instances of sophisticated cyber-attacks has led vendors to offer enhanced encryption software solutions & services that would protect enterprises from unauthorized data access and cyber threats.

The cloud encryption application segment is expected to grow at the highest CAGR during the forecast period. However, disk encryption segment holds the largest share of encryption software market in 2016. Cloud-based deployment mode is expected to grow at the highest CAGR during the forecast period. Large enterprises segment is expected to hold the highest market size in 2016. Moreover, SMEs segment is expected to grow at the highest CAGR during the forecast period.

Encryption software solutions have been deployed across various industry verticals, including Banking, Financial Services, and Insurance (BFSI), healthcare, government & public sector, telecom, retail, aerospace & defense, and others. The telecom vertical is expected to witness the highest CAGR during the forecast period. However, BFSI vertical is estimated to have the largest market size in 2016.

The global encryption software market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue generating region for encryption software solution vendors in 2016. This is mainly because in the developed economies of the U.S. and Canada, organizations are highly focused towards the early adoption of innovative solutions obtained from research and development in security technologies. The APAC region is expected to be the fastest growing region in the encryption software market. Rising need to defend against advanced cyber-attacks and increase in adoption of cloud-based solutions drives the regional market growth.

Encryption Software Market

The encryption software market faces challenges such as inefficient management and usage of encryption key and shortage of skilled cybersecurity professionals. Moreover, factors such as increasing operational costs for the enterprise limit the market growth.

Major vendors that offer encryption software across the globe are Microsoft Corporation (U.S.), Sophos Ltd. (U.S.), CheckPoint Software Technologies Ltd. (Israel)., Trend Micro Inc. (Japan), Symantec Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Intel Security Group (McAfee) (U.S.), EMC Corporation (U.S.), and WinMagic Inc. (Canada). These companies have implemented different types of organic and inorganic growth strategies such as innovative product launches, mergers & acquisitions and partnerships & collaborations to expand their offerings in the encryption software market.

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