Encryption Software Market

Encryption Software Market by Component (Software and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, Cloud Encryption), Deployment Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2024

Report Code: TC 3110 Jun, 2019, by marketsandmarkets.com

[151 Pages Report] MarketsandMarkets forecasts the global encryption software market size to grow from USD 7.5 billion in 2019 to USD 16.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.0% during 2019–2024. Major growth drivers for the market include focus on adhering stringent regulatory standards and data privacy compliances, rising concerns of loss of critical data and exponential increase in the adoption of cloud and virtualization technologies.

Encryption Software Market

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

Selected Market Dynamics in Encryption Software Market

Rising concerns pertaining to loss of critical data

Organizations are increasingly adopting diverse technological developments such as enterprise mobility, virtualization, and cloud storage to boost business productivity. These progressions have helped organizations function efficiently and in real time since the business data can be easily accessed on mobile devices from the cloud and virtual storages. However, this access to critical business information on mobile devices augments the data loss and theft risk. Additionally, the rise in the number of mobile device thefts has further increased the data loss concerns along with increasing susceptibility of unauthorized access to the organizational information. Moreover, organizations use various physical storage devices such as USBs and DVDs, along with emails, to transfer information. This adds to the data theft concerns as the information that travels in an unprotected manner may lead to its unauthorized access and misuse. Such issues have led to increasing adoption of encryption software among companies.

Availability of free, open source, and pirated encryption software

Encryption software such as VeraCrypt, FileVault, DiskCryptorhave, and AxCrypt offer almost all the features provided by the prominent vendors in the market. This software are easily available over the internet as free downloads. Many SMEs and start-ups that adopt such free software seldom need to pay for upgradations, customizations, and support fees, making them freely available across the industry. However, the presence of such software in the market hampers the market presence of major encryption software vendors, directly hitting their bottom lines. Hence, the availability of such free solutions is expected to restrain market growth during the forecast period.

In addition to this, the market for encryption software is also hampered by the presence and extensive use of pirated encryption software. Software piracy refers to the unauthorized copying of the licensed versions of the software. There are many types of software piracy, among which, the most prevalent types include softlifting, software counterfeiting, Original Equipment Manufacturer (OEM) bundling, hard disk loading, and renting. Internet-based software piracy is one of the emerging issues in piracy. Despite threats associated with piracy, some companies still prefer pirated software, as they are price-sensitive. As a strong correlation exists between cybersecurity and the use of unlicensed software, the continuing use of pirated security software could negatively affect the growth of the encryption software market.

Cloud encryption segment to grow at the highest CAGR during the forecast period

In the encryption software market by application has disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption segments. The cloud encryption segment is the fastest growing segment in the market, due to an increasing demand for securing sensitive data across the globe. Organizations across the globe have been adopting cloud at a rapid pace and are categorically embracing diverse cloud environments, ranging from private and hybrid to public for the storage of their vast data.

Cloud deployment mode to grow at a higher rate during the forecast period

Most of the vendors in the encryption software market offer cloud-based encryption software to gain significant profits and effectively secure and ensure data privacy. The adoption of cloud-based encryption software solutions is expected to grow, owing to their benefits, such as easy data maintenance, cost-effectiveness, scalability, and effective management.

Encryption Software Market

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global encryption software market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In APAC, the highest growth rate for the market can be attributed to the heavy investments made by private and public sectors for securing sensitive data, resulting in an increased demand for encryption software used to secure and ensure privacy of data. North America is expected to be the leading region in terms of adopting and developing encryption software. The increasing demand to adhere to stringent regulatory compliances, increasing presence of encryption software vendors, and growing government support are major growth factors for the market growth during the forecast period.

Key Encryption Software Market players

Major vendors in the global encryption software market include IBM (US), Microsoft (US), Symantec (US), Thales e-Security (France), Trend Micro (Japan), Sophos (UK), Check Point (Israel), Micro Focus (UK), McAfee (US), Dell (US), WinMagic (US), ESET (US), Cryptomathic (Denmark), Bitdefender (Romania), Stormshield (France), and CipherCloud (US). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to further expand their presence in the global encryption software market. Please visit 360Quadrants to see the vendor listing of Encryption Software.

Thales e-Security (France) is among the leading vendors offering encryption solution and services across the globe. The company’s encryption product offering includes data encryption, Vormetric application crypto suite, and key management. Thales e-Security offers its customers best-in-class encryption solution to meet compliance. Moreover, the company provides best practice requirements for protecting data from external threats or malicious insiders with proven, high-performance, and scalable data encryption. In 2018, the company invested about 6% of its annual revenue in R&D to develop new products with enhanced capabilities and gain a competitive edge.

Scope of the Report

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Billion (USD)

Segments covered

Component, Services, Application, Deployment Mode, Enterprise Size, and Region

Geographies covered

North America, Europe, APAC, Latin America, and MEA

Companies covered

IBM (US), Microsoft (US), Symantec (US), Thales e-Security (France), Trend Micro (Japan), Sophos (UK), Check Point (Israel), Micro Focus (UK), McAfee (US), Dell (US), WinMagic (US), ESET (US), Cryptomathic (Denmark), Bitdefender (Romania), Stormshield (France), and CipherCloud (US)

This research report categorizes the encryption software market based on component, services, application, deployment mode, enterprise size, and region.

Based on Component, the encryption software market has the following segments:

  • Component
    • Software
    • Services
  • Services
    • Professional Services
    • Managed Services
  • Professional Services
    • Consulting Services
    • Training and Education Services
    • Support and Maintenance Services

Based on Application, the encryption software market has the following segments:

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

Based on Deployment M,odes, the encryption software market has the following segments:

  • On-premises
  • Cloud

Based on Enterprise Size, the encryption software market has the following segments:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

Based on Regions, the encryption software market has the following segments:

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

Recent Developments

  • In April 2019, Thales Group (France), a parent company of Thales e-Security, completed its acquisition of Gemalto (Netherlands), a leader in digital identity and security. The acquisition would create a world-class leader with an unrivalled portfolio of digital identity and security solutions based on technologies, such as biometry, data protection, and, more broadly, cybersecurity.

Critical questions the report answers

  • What are the current trends that are driving the encryption software market?
  • In which application, most of the verticals are deploying encryption software?
  • Where will all these developments take the industry in the mid to long term?
  • Who are the top vendors in the market and what is their competitive analysis?
  • What are the drivers and challenges of the Encryption Software Market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Encryption Software Market
    4.2 Market Share of Top 3 Verticals and Regions, 2019
    4.3 Market Top 3 Applications, 2019–2024
    4.4 Encryption Software Market Investment Scenario

5 Encryption Software Market Overview and Industry Trends (Page No. - 35)
    5.1 Introduction
    5.2 Encryption Software Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Stringent Regulatory Standards and Data Privacy Compliances
                    5.2.1.2 Rising Concerns Pertaining to Loss of Critical Data
                    5.2.1.3 Exponential Increase in the Adoption of Cloud and Virtualization Technologies
           5.2.2 Restraints
                    5.2.2.1 Budgetary Constraints
                    5.2.2.2 Availability of Free, Open Source, and Pirated Encryption Software
           5.2.3 Opportunities
                    5.2.3.1 Rise in Demand for Integrated Data Protection Solutions and Eaas Among SMES
                    5.2.3.2 Increased Adoption of Encryption Software Across Verticals
           5.2.4 Challenges
                    5.2.4.1 Difficulties in Effective Management and Usage of the Encryption Key
                    5.2.4.2 Lack of Skilled Workforce Among Enterprises
    5.3 Regulatory Compliances
           5.3.1 General Data Protection Regulation
           5.3.2 Health Insurance Portability and Accountability Act
           5.3.3 Federal Information Security Management Act
           5.3.4 Sarbanes–Oxley Act
           5.3.5 Gramm–Leach–Bliley Act
           5.3.6 Payment Card Industry Data Security Standard
           5.3.7 Federal Information Processing Standards
    5.4 Use Cases
           5.4.1 Use Case: Scenario 1
           5.4.2 Use Case: Scenario 2
           5.4.3 Use Case: Scenario 3
           5.4.4 Use Case: Scenario 4

6 Encryption Software Market By Component (Page No. - 45)
    6.1 Introduction
    6.2 Software
           6.2.1 Increasing Demand for Ensuring Privacy of Sensitive Data to Fuel the Demand for Encryption Software in the Market
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Support and Maintenance Services
                               6.3.1.1.1 Growing Demand to Streamline the Deployment Process to Fuel the Demand for Support and Maintenance Services
                    6.3.1.2 Training and Education Services
                               6.3.1.2.1 Increasing Demand for Facilitating the Needs of End Users to Drive the Growth of Training and Education Services
                    6.3.1.3 Consulting Services
                               6.3.1.3.1 Technologies Involved in Implementing Encryption Software Solutions to Boost the Growth of Consulting Services
           6.3.2 Managed Services
                    6.3.2.1 Increasing Need to Reduce Data Breaches and Protect Intellectual Property to Fuel the Demand for Managed Services

7 Encryption Software Market By Application (Page No. - 54)
    7.1 Introduction
    7.2 Disk Encryption
           7.2.1 Growing Demand to Effectively Encrypt the Entire Data of the Disk to Fuel the Growth of the Disk Encryption Application
    7.3 File/Folder Encryption
           7.3.1 Growing Need to Safeguard Files and Folders on DesKTops and Smartphones to Pave the Way for File/Folder Encryption Application
    7.4 Database Encryption
           7.4.1 Increasing Data Breaches and Thefts to Fuel the Demand for Database Encryption Applications
    7.5 Communication Encryption
           7.5.1 Need to Prevent the Loss of Sensitive Information to Fuel the Demand for Communication Encryption Applications
    7.6 Cloud Encryption
           7.6.1 Increasing Demand to Enhance Mobility and Scalability to Fuel the Demand for Cloud Encryption Applications

8 Encryption Software Market By Deployment Mode (Page No. - 62)
    8.1 Introduction
    8.2 On-Premises
           8.2.1 Growing Need to Manage the Huge Amount of Data to Pave the Way for On-Premises Deployment Mode
    8.3 Cloud
           8.3.1 Cost-Effectiveness and Scalability to Pave the Way for Organizations to Adopt Cloud-Based Encryption Software

9 Encryption Software Market By Enterprise Size (Page No. - 66)
    9.1 Introduction
    9.2 Large Enterprises
           9.2.1 Growing Need for Securing Data From Vulnerabilities to Fuel the Adoption of Encryption Software Among Large Enterprises
    9.3 Small and Medium-Sized Enterprises
           9.3.1 Rising Security Issues Compel Small and Medium-Sized Enterprises to Focus on the Adoption of Encryption Software

10 Encryption Software Market By Vertical (Page No. - 70)
     10.1 Introduction
     10.2 Banking, Financial Services, and Insurance
             10.2.1 Encryption Software to Help Financial Institutions Effectively Secure Sensitive Information and Ensure Data Privacy
     10.3 Aerospace and Defense
             10.3.1 Increasing Deployment of Encryption Software in the Aerospace and Defense Vertical to Protect Information From Cyberattacks
     10.4 Healthcare
             10.4.1 Growing Need for Securing Patients’ Data to Boost the Adoption of Encryption Software in the Healthcare Vertical
     10.5 Government and Public Utilities
             10.5.1 Encryption Software to Help Improve the Security of Critical Information and Reduce the Threat of Unauthorized Access in Government and Public Utilities Vertical
     10.6 IT and Telecommunication
             10.6.1 Growing Need for Providing Secured Information and Encryption Services to Fuel the Growth of Encryption Software in the IT and Telecommunication Vertical
     10.7 Retail
             10.7.1 Retail Companies to Deploy Encryption Software for Safeguarding Customers’ Sensitive Information
     10.8 Others

11 Encryption Software Market By Region (Page No. - 79)
     11.1 Introduction
     11.2 North America
             11.2.1 United States
                       11.2.1.1 Growing Need to Secure Private Data to Fuel the Demand for Encryption Software in the US
             11.2.2 Canada
                       11.2.2.1 Increasing Adoption of Encryption Solutions Across Various Verticals to Drive the Market Growth in Canada
     11.3 Europe
             11.3.1 United Kingdom
                       11.3.1.1 Focus on Securing Users’ Data and Addressing GDPR Requirements to Drive the Encryption Software Market in the UK
             11.3.2 Germany
                       11.3.2.1 Increasing Instances of Spear Phishing Attacks and Internet Thefts to Increase the Demand for Encryption Software in Germany
             11.3.3 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                       11.4.1.1 Increasing Investments in Encryption Solutions to Spur the Demand for Encryption Solutions in China
             11.4.2 India
                       11.4.2.1 Growing Need for Securing Confidential Information to Drive the Growth of Encryption Software in India
             11.4.3 Australia and New Zealand
                       11.4.3.1 Rising Data Leakage Instances Across Anz to Boost the Growth of Encryption Software in Anz
             11.4.4 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Middle East
                       11.5.1.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt Encryption Software in the Middle East
             11.5.2 Africa
                       11.5.2.1 Increase in Number of Tech Ventures to Lead to the Growth of Encryption Software Market in Africa
     11.6 Latin America
             11.6.1 Brazil
                       11.6.1.1 Rapid Surge in Usage of Sensitive Data for Sharing Vital Information Among Customers to Increase the Demand for Encryption Software in Brazil
             11.6.2 Mexico
                       11.6.2.1 Rise in the Adoption of Cloud-Based Solutions and Services to Fuel the Growth of Market in Mexico
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 105)
     12.1 Competitive Leadership Mapping
             12.1.1 Visionary Leaders
             12.1.2 Innovators
             12.1.3 Dynamic Differentiators
             12.1.4 Emerging Companies
     12.2 Strength of Product Portfolio
     12.3 Business Strategy Excellence
     12.4 Competitive Leadership Mapping (Start-Up/SMES)
             12.4.1 Progressive Companies
             12.4.2 Responsive Companies
             12.4.3 Dynamic Companies
             12.4.4 Starting Blocks

13 Company Profiles (Page No. - 111)
     13.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.2 IBM
     13.3 Microsoft
     13.4 Symantec
     13.5 Thales e-Security
     13.6 Trend Micro
     13.7 Sohpos
     13.8 Check Point
     13.9 Micro Focus
     13.10 McAfee
     13.11 Dell
     13.12 WinMagic
     13.13 ESET
     13.14 Cryptomathic
     13.15 Bitdefender
     13.16 Stormshield
     13.17 CipherCloud

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 143)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (72 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Encryption Software Market Size and Growth Rate, 2017–2024 (USD Million, Y-O-Y %)
Table 4 Market Size By Component, 2017–2024 (USD Million)
Table 5 Services: Market Size By Region, 2017–2024 (USD Million)
Table 6 Professional Services Market Size, By Type, 2017–2024 (USD Million)
Table 7 Professional Services Market Size, By Region, 2017–2024 (USD Million)
Table 8 Support and Maintenance Services Market Size, By Region, 2017–2024 (USD Million)
Table 9 Training and Education Services Market Size, By Region, 2017–2024 (USD Million)
Table 10 Consulting Services Market Size, By Region, 2017–2024 (USD Million)
Table 11 Managed Services Market Size, By Region, 2017–2024 (USD Million)
Table 12 Encryption Software Market Size, By Application, 2017–2024 (USD Million)
Table 13 Disk Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 14 File/Folder Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 15 Database Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 16 Communication Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 17 Cloud Encryption: Market Size By Region, 2017–2024 (USD Million)
Table 18 Encryption Software Market Size, By Deployment Mode, 2017–2024 (USD Million)
Table 19 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 20 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 21 Encryption Software Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 22 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 23 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 24 Encryption Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 26 Aerospace and Defense: Market Size By Region, 2017–2024 (USD Million)
Table 27 Healthcare: Encryption Software Market Size By Region, 2017–2024 (USD Million)
Table 28 Government and Public Utilities: Market Size By Region, 2017–2024 (USD Million)
Table 29 IT and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 30 Retail: Market Size By Region, 2017–2024 (USD Million)
Table 31 Others: Market Size By Region, 2017–2024 (USD Million)
Table 32 Encryption Software Market Size, By Region, 2017–2024 (USD Million)
Table 33 North America: Market Size By Component, 2017–2024 (USD Million)
Table 34 North America: Market Size By Service, 2017–2024 (USD Million)
Table 35 North America: Market Size By Professional Service, 2017–2024 (USD Million)
Table 36 North America: Market Size By Application, 2017–2024 (USD Million)
Table 37 North America: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 38 North America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 39 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 40 North America: Market Size By Country, 2017–2024 (USD Million)
Table 41 Europe: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Professional Service, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Application, 2017–2024 (USD Million)
Table 45 Europe: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 46 Europe: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 47 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 48 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 49 Asia Pacific: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 50 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size By Professional Service, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size By Application, 2017–2024 (USD Million)
Table 53 Asia Pacific: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 54 Asia Pacific: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 55 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 56 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Professional Service, 2017–2024 (USD Million)
Table 60 Middle East and Africa: Encryption Software Market Size By Application, 2017–2024 (USD Million)
Table 61 Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 62 Middle East and Africa: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 63 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 64 Middle East and Africa: Market Size By Sub-Region, 2017–2024 (USD Million)
Table 65 Latin America: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 66 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 67 Latin America: Market Size By Professional Service, 2017–2024 (USD Million)
Table 68 Latin America: Market Size By Application, 2017–2024 (USD Million)
Table 69 Latin America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 70 Latin America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 71 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 72 Latin America: Encryption Software Market Size By Country, 2017–2024 (USD Million)
 
 
List of Figures (38 Figures)
 
Figure 1 Encryption Software Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Market to Witness Significant Growth in the Global Market During the Forecast Period
Figure 4 North America to Hold the Highest Market Share in 2019
Figure 5 Top 4 Revenue Segments of the Encryption Software Market
Figure 6 Increasing Instances of Cyber attacks on Critical Enterprise Data and Need for Compliance to Drive the Demand for Encryption Software
Figure 7 Banking, Financial Services, and Insurance Vertical and North American Region to Have the Highest Market Shares in 2019
Figure 8 Cloud Encryption Segment to Grow at the Highest CAGR During the Forecast Period
Figure 9 Asia Pacific to Emerge as the Best Market for Investments in the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Encryption Software Market
Figure 11 Top Methods to Safeguard the Data Stored in the Cloud
Figure 12 Services Segment to Witness A Higher CAGR During the Forecast Period
Figure 13 Managed Services Segment to Record A Higher CAGR During the Forecast Period
Figure 14 Support and Maintenance Services Segment to Record the Highest Growth Rate During the Forecast Period
Figure 15 Cloud Encryption Segment to Witness the Highest CAGR During the Forecast Period
Figure 16 Cloud Deployment Mode to Record A Higher Growth Rate During the Forecast Period
Figure 17 Small and Medium-Sized Enterprises Segment to Hold A Higher CAGR During the Forecast Period
Figure 18 IT and Telecommunication Vertical to Record the Highest Growth Rate During the Forecast Period
Figure 19 North America to Hold the Largest Market Size During the Forecast Period
Figure 20 India to Register the Highest CAGR During the Forecast Period
Figure 21 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 22 North America: Encryption Software Market Snapshot
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Encryption Software Market (Global) Competitive Leadership Mapping, 2018
Figure 25 Encryption Software Market Competitive Leadership Mapping, Startup Companies, 2018
Figure 26 IBM: Company Snapshot
Figure 27 IBM: SWOT Analysis
Figure 28 Microsoft: Company Snapshot
Figure 29 Microsoft: SWOT Analysis
Figure 30 Symantec: Company Snapshot
Figure 31 Symantec: SWOT Analysis
Figure 32 Thales E-Security: Company Snapshot
Figure 33 Thales E-Security: SWOT Analysis
Figure 34 Trend Micro: Company Snapshot
Figure 35 Trend Micro: SWOT Analysis
Figure 36 Sohpos: Company Snapshot
Figure 37 Check Point: Company Snapshot
Figure 38 Micro Focus: Company Snapshot

The study consists of 4 major activities to estimate the current market size of the encryption software market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWeek, have been referred to for identifying and collecting information for this study. Secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors, gold standard and silver standard websites, Research and Development (R&D) organizations, regulatory bodies, and databases.

Primary research

Various primary sources from both the supply and demand sides of the encryption software market were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), technology and innovation directors, hedge fund managers, and related key executives from various vendors offering encryption software solutions, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

The following is the breakup of profiles of primary participants:

Encryption Software Market

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

Encryption Software Market Size Estimation

For making market estimates and forecasting the encryption software market and the other dependent submarkets, the top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global encryption software market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The market size, in terms of value, was determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, describe, and forecast the encryption software market by component (software and services), services (professional services and managed services), application (disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption), deployment mode (cloud and on-premises), enterprise size (Small and Medium-sized Enterprises [SMEs] and large enterprises), and region (North America, Europe, Asia Pacific [APAC], Latin America, and Middle East and Africa [MEA]).
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the encryption software ecosystem
  • To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with the detailed competitive landscape of market leaders
  • To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the encryption software market

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:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakup of the North American encryption software market
  • Further breakup of the European market
  • Further breakup of the APAC market
  • Further breakup of the Latin American market
  • Further breakup of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players up to 5

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Competitive Landscape

 
 
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Report Code
TC 3110
Published ON
Jun, 2019
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