HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: January 2015
Report Code: TC 3110

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In the past few years, there has been a substantial adoption of encryption software among companies to boost business proficiency along with data security. Further, the widespread adoption of PCs has led to emergence and surge of computer hackers who intrude into organizational networks ranging from companies to government, for accessing and pilfering essential information for their monetary gains. In addition, with the growing trend of Bring Your Own Device (BYOD) and increased penetration of mobile devices among enterprises, the data loss susceptibility through these devices has augmented, thereby stimulating the implementation of encryption software for secure data transmission and access on these devices. Moreover, the progressing dynamicity in business ecology with growing receptivity towards diverse technological progressions such as cloud, social media and mobility has further enlarged the amount of data generation among these companies. Also, with the expansive embracement of mobile devices among companies, this data is being transmitted and accessed across these devices, thereby making critical data susceptible to theft and loss, as it can be invaded by hackers while the data travels across business networks. Hence, encryption solution plays a critical role in data security among organizations for safeguarding business data.

With the growing incorporation of cloud and mobile devices among enterprises, the data security apprehensions are also increasing. Moreover, it heightens the propensity of data breach, theft and loss, commercial espionage, and cyber-attacks across companies. Further, with the escalating strength and volume of commercial espionage among diverse industries pertaining to critical information, the security of data is of foremost importance. Thus, the embracement of advanced data security solutions has become indispensable across companies. Furthermore, the substantial technological advancements such as end-to-end encryption are improving the data protection offerings to secure enterprises from severe commercial espionage, data breaches and intrusions. In addition, the stringent regulatory compliance among diverse industry verticals such as PCI DSS for BFSI and HIPPA for healthcare has mandated the implementation of data security solutions that are compliant with the certain specific standards. Thus, the compliance to these standards has further fortified the adoption of encryption software across the globe.

In previous years, the legacy data security solution providers have an upper hand over endpoint protection suppliers as the incorporation of mobile devices within enterprises was regulated. However, with the recent developments in mobile technology and rising dissemination of these devices among businesses, the benefits have shifted to endpoint protection providers among various others. In addition, this has further boosted the solutions providers to integrate mobile data security in the security solutions as the data traveling across mobile devices through emails, is more vulnerable to theft and prone to breaches. Moreover, the pervading manifestation of smartphones has further fortified data security providers to develop data encryption solutions and apps that are compatible with eminent domineering Operating Systems (OS).

Presently, the organizations consideration for spending in encryption technology is increasing considerably as the advantages attached with it stimulate its implementation, besides the mandate compliance with well-known industry-specific standards. In the years to come, this trend is expected to continue leveraging data security solution providers to offer more advanced and superior solutions with end-to-end encryption as a prime constituent for empowering robust security of data.

The report spans the overall structure of the encryption software market and provides premium insights that can help endpoint protection providers, dedicated encryption providers and third-party providers to identify the need of enterprises and Small and Medium Businesses (SMBs) along with exhibiting the need gaps for cloud services providers, and data security solution vendors. The report analyzes the growth rate and penetration of encryption software across all the major regions.

The global Encryption Software Market report is segmented on the basis of applications deployment types, user types, industry verticals, and regions. The software are further categorized on the basis of application which further include disk encryption, File/Folder encryption, database encryption, communication encryption, and cloud encryption. Further the deployment type is categorized into cloud and on-premises. The encryption software users are segmented into enterprises and SMBs. In addition, the report classifies the industry verticals as BFSI, Healthcare, Government and Public sector, Telecom, Retail, Aerospace and Defense, and others.

The global Encryption Software Market is fast gaining traction which is evident from the acquisitions of Mobile Armor by Trend Micro, Mojave by Sophos, and McAfee by Intel. Key players such as Microsoft Corporation, IBM Corporation, EMC Corporation, Symantec Corporation, Hewlett-Packard, CheckPoint Software Technologies Pvt. Ltd., Sophos, Trend Micro, Inc., WinMagic, Inc., and Intel Corporation (McAfee) offer data protection solutions and services to enterprises and SMBs.

The global Encryption Software Market has been segmented on the basis of applications deployment types, user types, industry verticals, and regions. This report analyzes global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the  market. The report also examines growth potential market sizes and revenue forecasts across different regions as well as user segments.

The report forecasts the market sizes and trends of encryption software in the following submarkets:

On the basis of Applications:

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

On the basis of deployment type:

  • Cloud
  • On-Premises

On the basis of user type:

  • Enterprises
  • SMBs

On the basis of industry vertical:

  • BFSI
  • Healthcare
  • Government and Public sector
  • Telecom
  • Retail
  • Aerospace and Defense
  • Others

On the basis of region:

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

Table of Contents 
 
1 Introduction  (Page No. - 14)
  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 Study
  1.4 Currency 
  1.5 Limitations 
  1.6 Stakeholders

2 Research Methodology  (Page No. - 17)
  2.1 Market Size Estimation
  2.2 Market Breakdown And Data Triangulation
  2.3 Market Share Estimation
      2.3.1 Key Data From Secondary Sources
      2.3.2 Key Data From Primary Sources
  2.4 Assumptions
  2.5 Key Industry Insights

3 Executive Summary  (Page No. - 24)
 
4 Premium Insights  (Page No. - 28)
  4.1 Attractive Opportunities In The Global Market
  4.2 Market Top Three Applications
  4.3 Global Encryption Software Application Market
  4.4 Global Market Potential
  4.5 Global Encryption Software User Market (2019)
  4.6 Encryption Software Regional Market
  4.7 Encryption Software Application Growth Matrix
  4.8 Life Cycle Analysis, By Region, 2014

5 Market Overview  (Page No. - 35)
  5.1 Introduction
  5.2 Evolution 
  5.3 Market Segmentation
      5.3.1 By Application
      5.3.2 By Deployment Type
      5.3.3 By User Type
      5.3.4 By Industry Vertical
      5.3.5 By Region
  5.4 Market Dynamics
      5.4.1 Drivers
            5.4.1.1 Indispensable Need For Compliance With Regulatory Standards
            5.4.1.2 Manifestation Of Dynamic Business Environment
            5.4.1.3 Rising Concerns About Data Loss And Theft
            5.4.1.4 Ongoing Availability Of Flexible Encryption Software
      5.4.2 Restraints
            5.4.2.1 Advancing Increasing Overhead Costs
            5.4.2.2 Evolving Demand For Competent Management Of Data
      5.4.3 Opportunities
            5.4.3.1 Rising Demand For Integrated Data Protection Solutions
            5.4.3.2 Mounting Requirements For Saas-Based Solutions
      5.4.4 Challenge
            5.4.4.1 Inefficiency In Management And Usage Of Encryption Key
      5.4.5 Burning Issue
            5.4.5.1 Manifestation Extensive Presence Of Heterogeneous Platform Devices

6 Industry Trends  (Page No. - 47)
  6.1 Introduction
  6.2 Value Chain Analysis
  6.3 Porter’s Five Forces Analysis
      6.3.1 Threat From New Entrants
      6.3.2 Threat From Substitutes
      6.3.3 Bargaining Power Of Suppliers
      6.3.4 Bargaining Power Of Buyers
      6.3.5 Intensity Of Competitive Rivalry
  6.4 Pest Analysis
      6.4.1 Political Factors
      6.4.2 Economic Factors
      6.4.3 Social Factors
      6.4.4 Technological Factors
  6.5 Standards And Regulations
      6.5.1 AES
      6.5.2 Fips
      6.5.3 PCi DSS
      6.5.4 Hippa

7 Global Encryption Software Market Analysis,  By Application (Page No. - 54)
  7.1 Introduction
  7.2 Disk Encryption Market
  7.3 File/Folder Encryption Market
  7.4 Database Encryption Market
  7.5 Communication Encryption Market
  7.6 Cloud Encryption Market

8 Global Encryption Software Market Analysis,  By Deployment Type (Page No. - 63)
  8.1 Introduction
  8.2 Cloud Market
  8.3 On-Premises Market

9 Global Encryption Software Market Analysis,  By User Type (Page No. - 70)
  9.1 Introduction
  9.2 SMB Market 
  9.3 Enterprise Market

10 Global Encryption Software Market Analysis,  By Industry Vertical (Page No. - 77)
   10.1 Introduction
   10.2 BFSI Market 
   10.3 Healthcare Market
   10.4 Government And Public Sector Market
   10.5 Telecom Market
   10.6 Retail Market
   10.7 Aerospace And Defense
   10.8 Others 

11 Geographic Analysis  (Page No. - 89)
   11.1 Introduction
        11.1.1 Global Encryption Software Market, By Region
   11.2 North America (NA)
        11.2.1 Application Market
        11.2.2 Deployment Market
        11.2.3 User Type Market
        11.2.4 Industry Vertical Market
   11.3 Europe 
        11.3.1 Application Market
        11.3.2 Deployment Market
        11.3.3 User Market
        11.3.4 Industry Vertical Market
   11.4 Asia-Pacific (APAC)
        11.4.1 Application Market
        11.4.2 Deployment Market
        11.4.3 User Market
        11.4.4 Industry Vertical Market
   11.5 Middle East And Africa (MEA)
        11.5.1 Application Market
        11.5.2 Deployment Market
        11.5.3 User Market
        11.5.4 Industry Vertical Market
   11.6 Latin America (LA)
        11.6.1 Application Market
        11.6.2 Deployment Market
        11.6.3 User Market
        11.6.4 Industry Vertical Market

12 Competitive Landscape  (Page No. - 107)
   12.1 Overview 
   12.2 Competitive Situation And Trends
        12.2.1 New Product Launches
        12.2.2 Partnerships And Collaborations 2011–2014
        12.2.3 Mergers And Acquisitions
        12.2.4 Venture Funding

13 Company Profiles  (Business Overview, Products & Services, Key Insights, Recent Developments, Swot Analysis, Mnm View)* (Page No. - 115)
   13.1 Introduction
   13.2 Microsoft Corporation
   13.3 Sophos LTD. 
   13.4 Check Point Software Technologies
   13.5 Trend Micro, INC.
   13.6 Symantec Corporation
   13.7 IBM Corporation
   13.8 SAS Institute, INC.
   13.9 Intel Corporation (Mcafee)
   13.10 EMC Corporation
   13.11 Winmagic, INC.
   13.12 Bloombase, INC.

*Details On Business Overview, Products & Services, Key Insights, Recent Developments, Swot Analysis, MNM View Might Not Be Captured In Case Of Unlisted Companies.

14 Appendix   (Page No. - 146)
   14.1 Discussion Guide
   14.2 Introducing Rt: Real-Time Market Intelligence
   14.3 Available Customizations
   14.4 Related Reports
   
   
List of Tables (73 Tables)       
    
  
Table 1 Global Encryption Software Market Size And Growth,  2012–2019 ($Million, Y-O-Y %)
Table 2 Rising Concerns About Data Security Is Propelling The Growth Of The Encryption Software Market
Table 3 Increasing Overhead Costs Involved In The Adoption Of Encryption Software Is Restraining The Market Growth
Table 4 Increased Demand For Saas-Based Data Protection Solutions Among Businesses Are Paving The Enhanced Growth Avenues For Encryption Vendors
Table 5 Inefficiency In Management And Usage Of Encryption Key
Table 6 Global Encryption Software Market Size, By Application,  2012–2019 ($Million)
Table 7 Global Encryption Software Market Growth, By Application, (Y-O-Y %)
Table 8 Disk Encryption Market Size, By User Type, 2012–2019 ($Million)
Table 9 Disk Encryption Market Size, By Region, 2012–2019 ($Million)
Table 10 File/Folder Encryption Market Size, By User Type, 2012–2019 ($Million)
Table 11 File/Folder Encryption Market Size, By Region, 2012–2019 ($Million)
Table 12 Database Encryption Market Size, By User Type, 2012–2019 ($Million)
Table 13 Database Encryption Market Size, By Region, 2012–2019 ($Million)
Table 14 Communication Encryption Market Size, By User Type, 2012–2019 ($Million)
Table 15 Communication Encryption Market Size, By Region, 2012–2019 ($Million)
Table 16 Cloud Encryption Market Size, By User Type, 2012–2019 ($Million)
Table 17 Cloud Encryption Market Size, By Region, 2012–2019 ($Million)
Table 18 Global Encryption Software Market Size, By Deployment Type,  2012–2019 ($Million)
Table 19 Global Encryption Software Market Size, By Deployment Type, (Y-O-Y %)
Table 20 Cloud Deployment: Global Encryption Software Market Size, By User Type, 2012–2019 ($Million)
Table 21 Cloud Deployment: Global Encryption Software Market Size, By Region, 2012–2019 ($Million)
Table 22 On-Premises, Market Size, By User Type, 2012–2019 ($Million)
Table 23 On-Premises, Market Size, By Region, 2012–2019 ($Million)
Table 24 Global Encryption Software Market Size, By User Type, 2012–2019 ($Million)
Table 25 Global Encryption Software Market Size, By User Type, (Y-O-Y %)
Table 26 SMB Market Size, By Application, 2012–2019 ($Million)
Table 27 SMB Market Size, By Deployment Type, 2012–2019 ($Million)
Table 28 SMB Market Size, By Region, 2012–2019 ($Million)
Table 29 Enterprise Market Size, By Application, 2012–2019 ($Million)
Table 30 Enterprise Market Size, By Deployment Type, 2012–2019 ($Million)
Table 31 Enterprise Market Size, By Region, 2012–2019 ($Million)
Table 32 Global Encryption Software Market Size, By Industry Vertical,  2012–2019 ($Million)
Table 33 Global Encryption Software Market Growth, By Industry Vertical, (Y-O-Y %)
Table 34 BFSI Market Size, By Region, 2012–2019 ($Million)
Table 35 BFSI Market Size, By Deployment Type, 2012–2019 ($Million)
Table 36 Healthcare Market Size, By Region, 2012–2019 ($Million)
Table 37 Healthcare Market Size, By Deployment Type, 2012–2019 ($Million)
Table 38 Government And Public Sector Market Size, By Region, 2012–2019 ($Million)
Table 39 Government And Public Sector Market Size, By Deployment Type,  2012–2019 ($Million)
Table 40 Telecom Market Size, By Region, 2012–2019 ($Million)
Table 41 Telecom Market Size, By Deployment Type, 2012–2019 ($Million)
Table 42 Retail Market Size, By Region, 2012–2019 ($Million)
Table 43 Retail Market Size, By Deployment Type, 2012–2019 ($Million)
Table 44 Aerospace And Defense Market Size, By Region, 2012–2019 ($Million)
Table 45 Aerospace And Defense Market Size, By Deployment Type,  2012–2019 ($Million)
Table 46 Others Market Size, By Region, 2012–2019 ($Million)
Table 47 Others Market Size, By Deployment Type, 2012–2019 ($Million)
Table 48 Global Encryption Software Market Size, By Region, 2012–2019 ($Million)
Table 49 Global Market Growth, By Region, (Y-O-Y %)
Table 50 NA: Encryption Software Market Size, By Application, 2012–2019 ($Million)
Table 51 NA: Market Size, By Deployment Type,  2012–2019 ($Million)
Table 52 NA: Market Size, By User Type, 2012–2019 ($Million)
Table 53 NA: Market Size, By Industry Vertical, 2012–2019 ($Million)
Table 54 Europe: Encryption Software Market Size, By Application,  2012–2019 ($Million)
Table 55 Europe: Encryption Software Market Size, By Deployment Type,  2012–2019 ($Million)
Table 56 Europe: Market Size, By User Type, 2012–2019 ($Million)
Table 57 Europe: Market Size, By Industry Vertical,  2012–2019 ($Million)
Table 58 APAC: Encryption Software Market Size, By Application, 2012–2019 ($Million)
Table 59 APAC: Market Size, By Deployment Type, 2012–2019 ($Million)
Table 60 APAC: Market Size, By User Type, 2012–2019 ($Million)
Table 61 APAC: Market Size, By Industry Vertical,  2012–2019 ($Million)
Table 62 MEA: Encryption Software Market Size, By Application, 2012–2019 ($Million)
Table 63 MEA: Market Size, By Deployment Type,  2012–2019 ($Million)
Table 64 MEA: Market Size, By Industry Vertical,  2012–2019 ($Million)
Table 66 LA: Encryption Software Market Size, By Application, 2012–2019 ($Million)
Table 67 LA: Market Size, By Deployment Type, 2012–2019 ($Million)
Table 68 LA: Market Size, By User Type, 2012–2019 ($Million)
Table 69 LA:  Market Size, By Industry Vertical,  2012–2019 ($Million)
Table 70 New Product Launches, 2011–2014
Table 71 Partnerships, 2012–2014
Table 72 Mergers And Acquisitions, 2011–2014
Table 73 Venture Funding, 2011–2014 
       
List of Figures (59 Figures)   
   
Figure 1 Markets Segmentation 
Figure 2 Research Design 
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Breakdown Of Primary Interview: By Company Type, Designation, And Region
Figure 6 Data Triangulation 
Figure 7 Global Encryption Software Market, Application Snapshot (2014 Vs. 2019): Market For Disk And File/Folder Encryption To Grow Two Fold During The Forecast Period
Figure 8 Government And Public Sector To Gain Highest Traction During The Forecast Period
Figure 9 Global Encryption Software Market Share, 2014, -North America Expected To Exhibit The Highest Market Share For The Period 2014 To 2019
Figure 10 Integrated Encryption Solutions Act As An Attractive Market Opportunity In The Global Encryption Software Market
Figure 11 File/Folder Encryption,Disk Encryption , And Database Encryption Are Top Three Applications
Figure 12 NA Holds The Maximum Share In The Global Encryption Software Application Market
Figure 13 APAC Market Is Expected To Have The Highest Market Growth Potential For Encryption Software In The Years To Come
Figure 14 Enterprise Segment Will Continue To Dominate The Encryption Software Market During The Forecast Period
Figure 15 APAC Market To Grow Faster Than Europe And Na
Figure 16 Global Encryption Software Application, Growth Matrix
Figure 17 APAC Market To Grow Exponentially During The Forecast Period
Figure 18 Advancements In Encryption Software To Play A Crucial Role In The Global Encryption Software Market
Figure 19 Global Encryption Software Market Segmentation: By Application
Figure 20 Global Encryption Software Market Segmentation: By Deployment Type
Figure 21 Global Encryption Software Market Segmentation: By User Type
Figure 22 Global Encryption Software Market Segmentation: By Industry Vertical
Figure 23 Global Encryption Software Market Segmentation: By Region
Figure 24 Growing Security Concerns Will Drive The Encryption Software Market
Figure 25 Value Chain Analysis (2014): Major Role Played By Encryption Technology Vendors
Figure 26 Porter’s Five Forces Analysis (2014): Diverse Set Of Players Is Increasing The Competition In The Industry
Figure 27 Disk Encryption And File/Folder Encryption To Lead The Applications Market
Figure 28 Cloud-Based Encryption Software To Grow Three Folds
Figure 29 APAC Is Expected To Adopt Cloud-Based Encryption Software Market
Figure 30 NA To Dominate On-Premises-Based Encryption Software Market
Figure 31 Enterprises Will Continue To Dominate The Encryption Software Market
Figure 32 Cloud To Become Mainstream Among Smbs By 2019
Figure 33 On-Premises Adoption To Increase Two Fold During The Forecast Period
Figure 34 BFSI Continues To Dominate The Encryption Software Market
Figure 35 Encryption Market In Apac To Grow Exponentially For Bfsi
Figure 36 Encryption Software Market For Government And Public Sector Is Expected To Dominate In Na
Figure 37 Geographic Snapshot (2014 And 2019): Rapid Growth Markets Are Emerging As New Hotspot
Figure 38 APAC: An Attractive Destination For All Encryption Software Applications
Figure 39 NA Market Snapshot: Enterprises To Contribute Maximum To The Market
Figure 40 APAC Encryption Software Market Snapshot: File/Folder Encryption To Gain Popularity Among The Users
Figure 41 Companies Adopted New Product Launches As The Key Growth Strategy Between 2011 And 2014
Figure 42 Global Encryption Software Market Share, Product Category Mapping
Figure 43 EMC Grew At The Fastest Growth Rate Between 2009 And 2013
Figure 44 Market Evaluation Framework
Figure 45 Battle For Market Share: New Product Launches Were The Key Strategy
Figure 46 Geographic Revenue Mix Of Top 5 Market Players
Figure 47 Microsoft: Company Snapshot
Figure 48 Microsoft: SWOT Analysis
Figure 49 Sophos: SWOT Analysis 
Figure 50 Check Point Software Technologies LTD.: Company Snapshot
Figure 51 Check Point Software Technologies LTD.: SWOT Analysis
Figure 52 Trend Micro, INC.: Company Snapshot
Figure 53 Trend Micro, INC.: SWOT Analysis
Figure 54 Symantec Corporation: Company Snapshot
Figure 55 Symantec Corporation: SWOT Analysis
Figure 56 IBM Corporation: Company Snapshot
Figure 57 SAS Institute, INC.: Company Snapshot
Figure 58 Intel Corporation (Mcafee): Company Snapshot
Figure 59 EMC Corporation: Company Snapshot

The global Encryption Software Market is in its established stage and still exhibits expansive growth. The Global Market is expected to grow in the years to come with fast paced adoption among enterprises. The extensive usage of PCs and laptops has led to evolution and explosion of computer hackers who intrude into corporate and government networks to access and thieve critical information for monetary and business gain. In addition, companies are seeking real-time access to business data along with transmitting and storage of data across mobile devices, cloud, USBs and disks. Additionally, the significant adoption of BYOD trend among businesses has leveraged mobile technology to open novel avenues for real-time access to business information along with facilitating flexible work culture. However, this has further augmented the susceptibility of data loss and theft through these devices comprising organizational data.

The growing concerns about data theft and loss, and increased usage of mobile devices and cloud for business work has considerably added to the escalation in adoption of encryption software. Furthermore, the increase in the volume and intensity of commercial espionage attacks on mobile devices and cloud platforms has encouraged businesses to expansively adopt encryption solution. In addition, there has been a rise in the number of theft and loss of mobile devices such as USBs, smartphones and tablets, which in turn leads to the business data loss and misuse. Thus, these elements have fortified companies to adopt Encryption Software Market solution to protect the vital organizational data.

With the constant advancements in the data security technologies such as up gradation to end-to end encryption, has further leveraged encryption vendors to offer enhanced data security solution to defend against expanded commercial espionage and cyber-attacks. In addition, the third-party service providers and cloud service providers have been offering augmented encryption software to suit the needs of government and business organizations in a better manner. The eminence of Encryption Software Market Applications is massive among enterprises thereby mounting prospects for encryption vendors, third-party service providers, cloud service providers, and technology providers.

The businesses with forward looking approach have adopted BYOD along with encryption solutions as a prevailing growth strategy. Due to the unconventional flexible work ways, improved data security, along with secure real-time access to organizational information, businesses are swiftly embracing these solutions. However, the encryption faces the challenges of additional overhead cost, and increased demand for competent IT resources for data management among enterprises. Thereby, deterring its implementation across various businesses especially SMBs that have budget constrictions.

However, the adoption of cloud-based encryption solution is expected to be extensive among SMBs due to superior data security, scalability and relatively condensed upfront cost. Even though it adds to the overhead expenses of companies and involves IT resource enlargement, the adoption of encryption software are predominant among enterprises as they have sufficient capital to devote in data security. Various encryption providers such as Microsoft, Symantec, Check Point Software Technologies, Sophos, and Trend Micro are offering advanced encryption solutions pertaining to the needs of both enterprise and SMBs. Besides this, various technology providers are developing innovative techniques with advanced encryption capability and that can also incorporate with enterprise data security solutions to provision robust data security. In addition, third party vendors are aiding various companies with managed services for encryption. Additionally, the cloud service providers are also offering cloud-based encryption software to organizations that are having budget limitations for enlargement of IT resources and infrastructure for efficient utilization of these solutions. Thus, third-party service providers, technology providers and cloud service providers are also adding significant value to the encryption software market.

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.

Global Encryption Software Market: Market Size, 2014 - 2019 ($Billion)

Encryption Software Market

Source: MarketsandMarkets Analysis

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