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 Aug, 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

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.

Encryption Software Market Dynamics

Driver: Stringent regulatory standards and data privacy compliances

Increasing implementation of enterprise mobility and IoT across industry verticals has led to a surge in demand for encryption software. Employees are allowed to use various mobile devices for sharing confidential information encouraging flexibility in work and thereby making data vulnerable to lose. Governments and regulatory authorities across the globe have imposed a certain set of guidelines and compliance requirements that prompt organizations to adopt stringent cybersecurity solutions for safeguarding enterprise data, network, endpoint, application, and cloud environment. Being aware of different laws and regulations helps organizations to decide which type of solution needs to be adopted for protecting critical enterprise data.

Restraint: 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.

Opportunity: Rise in demand for integrated data protection solutions and EaaS among SMEs

The progress made by SMEs in the developed and developing nations directly affects their economy. SMEs in different industry verticals do not have stringent security measures for safeguarding their data, networks, endpoints, and applications. The demand for cloud-based solutions is increasing rapidly across enterprises as the dominant delivery model to meet IT security needs. Cloud deployment provides flexibility, scalability, and cost-effectiveness to streamline business operations. With SMEs shifting their focus to cloud solutions, cloud encryption solution and service providers are expected to witness increasing opportunities for safeguarding the data of SMEs from security breaches and vulnerabilities.

Challenge: Difficulties in effective management and usage of the encryption key

Efficient management of encryption keys is crucial. Encryption keys need to be monitored during their creation, storage, and deletion. Loss of keys can result in loss of data, as the data cannot be deciphered without the encryption keys. Encryption based on asymmetric cryptographic algorithms encrypts the data with the help of both public and private keys. The data is ciphered with the help of public keys. The ciphered data can be deciphered only with the help of private keys. Loss of private keys may result in the loss of critical data. The security systems responsible for encryption have to ensure cryptographic security, and the keys used for encryption should not be transmitted publicly. One of the most profound challenges related to encryption is key management due to its associated complexity and cost. Unclear key management function, lack of skilled professionals, and fragmented Key Management Systems (KMS) increase the overheads for enterprises.

Scope of the Encryption Software Market Report

Report Metric

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)

The research report categorizes the encryption software to forecast the revenues and analyze the trends in each of the following sub-segments:

Encryption Software Market, By Component

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

Market By Application

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

Encryption Software Market By Deployment Mode

  • On-premises
  • Cloud

Market By Enterprise Size

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

Encryption Software Market By Region

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

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 Mizcro (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.

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.

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.
  • In May 2019, IBM announced that it has entered into an OEM agreement with jSonar, a leader in database security and Data-Centric Audit and Protection (DCAP) solutions. The agreement would integrate jSonar's SonarG technology into the IBM Security Guardium portfolio as the new IBM Security Guardium Big Data Intelligence offering.
  • In December 2018, Symantec (US) partnered with Fortinet (US), a leading provider of integrated and automated cybersecurity solutions to provide customers with the most comprehensive and robust security solutions. The partnership would provide essential security controls across endpoint, network, and cloud environments that are critical to enforcing the Zero Trust security framework.
  • In June 2018, Sophos launched Sophos Email Advanced, an email protection solution. The solution would provide enterprises with active threat protection, anti-phishing email authentication, and outbound scanning to protect their network infrastructures.
  • In May 2018, IBM (US) collaborated with Cisco (US) to integrate its security suite into Cisco’s security products for faster, more accurate threat detection and response. The collaboration would improve product interaction, better service integration, and enhanced threat intelligence.

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
    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
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Research Assumptions
           2.3.2 Research Limitations

3 Executive Summary

4 Premium Insights
    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 Market Overview and Industry Trends
    5.1 Introduction
    5.2 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 Landscape
    5.4 Use Cases

6 Encryption Software Market Analysis By Component
    6.1 Introduction
    6.2 Software
           6.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           6.2.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
    6.3 Service
           6.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           6.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)

7 Encryption Software Market Analysis By Service
    7.1 Introduction
    7.2 Professional Services
           7.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           7.2.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
           7.2.3 Support and Maintenance
                    7.2.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
                    7.2.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
           7.2.4 Training and Education
                    7.2.4.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
                    7.2.4.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
           7.2.5 Consulting
                    7.2.5.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
                    7.2.5.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
    7.3 Managed Security Services
           7.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           7.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)

8 Encryption Software Market Analysis By Application
    8.1 Introduction
    8.2 Disk Encryption
           8.2.1 Market Estimates and Forecasts, 2018 - 2024 (USD Million)
           8.2.2 Market Estimates and Forecasts, By Region, 2018 - 2024 (USD Million)
    8.3 File/Folder Encryption
           8.3.1 Market Estimates and Forecasts, 2018 - 2024 (USD Million)
           8.3.2 Market Estimates and Forecasts, By Region, 2018 - 2024 (USD Million)
    8.4 Database Encryption
           8.4.1 Market Estimates and Forecasts, 2018 - 2024 (USD Million)
           8.4.2 Market Estimates and Forecasts, By Region, 2018 - 2024 (USD Million)
    8.5 Communication Encryption
           8.5.1 Market Estimates and Forecasts, 2018 - 2024 (USD Million)
           8.5.2 Market Estimates and Forecasts, By Region, 2018 - 2024 (USD Million)
    8.6 Cloud Encryption
           8.6.1 Market Estimates and Forecasts, 2018 - 2024 (USD Million)
           8.6.2 Market Estimates and Forecasts, By Region, 2018 - 2024 (USD Million)

9 Encryption Software Market Analysis By Deployment Mode
    9.1 Introduction
    9.2 on Premises
           9.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           9.2.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
    9.3 Cloud
           9.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
           9.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)

10 Encryption Software Market Analysis By Enterprise Size
     10.1 Introduction
     10.2 Large Enterprises
             10.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             10.2.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     10.3 Small and Mdeium-Sized Enterprises
             10.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             10.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)

11 Encryption Software Market Analysis By Vertical
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
             11.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.2.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.3 Aerospace and Defense
             11.3.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.3.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.4 Healthcare
             11.4.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.4.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.5 Government and Public Utilities
             11.5.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.5.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.6 IT and Telecommunication
             11.6.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.6.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.7 Retail
             11.7.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.7.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)
     11.8 Others (Other Industry Verticals Include Manufacturing, Education, and Media and Entertainment)
             11.8.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             11.8.2 Market Estimates and Forecasts, By Region, 2017 - 2024 (USD Million)

12 Encryption Software Market Analysis By Region
     12.1 Introduction
     12.2 North America
             12.2.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             12.2.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
             12.2.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
             12.2.4 Market Estimates and Forecasts, By Application, 2017 - 2024 (USD Million)
             12.2.5 Market Estimates and Forecasts, By Deployment Mode, 2017 - 2024 (USD Million)
             12.2.6 Market Estimates and Forecasts, By Enterprise Size, 2017 - 2024 (USD Million)
             12.2.7 Market Estimates and Forecasts, By Vertical, 2017 - 2024 (USD Million)
             12.2.8 Market Estimates and Forecasts, By Country, 2017 - 2024 (USD Million)
                       12.2.8.1 US
                                   12.2.8.1.1 Market Estimates and Forecasts, By US, 2017 - 2024 (USD Million)
                                   12.2.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.2.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.2.8.2 Canada
                                   12.2.8.1.1 Market Estimates and Forecasts, By Canada, 2017 - 2024 (USD Million)
                                   12.2.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.2.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
     12.3 Europe
             12.3.1 Encryption Software Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             12.3.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
             12.3.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
             12.3.4 Market Estimates and Forecasts, By Application, 2017 - 2024 (USD Million)
             12.3.5 Market Estimates and Forecasts, By Deployment Mode, 2017 - 2024 (USD Million)
             12.3.6 Market Estimates and Forecasts, By Enterprise Size, 2017 - 2024 (USD Million)
             12.3.7 Market Estimates and Forecasts, By Vertical, 2017 - 2024 (USD Million)
             12.3.8 Market Estimates and Forecasts, By Country, 2017 - 2024 (USD Million)
                       12.3.8.2 UK
                                   12.3.8.1.1 Market Estimates and Forecasts, By UK, 2017 - 2024 (USD Million)
                                   12.3.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.3.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.3.8.2 Germany
                                   12.3.8.1.1 Market Estimates and Forecasts, By Germany, 2017 - 2024 (USD Million)
                                   12.3.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.3.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.3.8.3 Market Estimates and Forecasts, By Rest of Europe, 2017 - 2024 (USD Million)
     12.4 Asia Pacific
             12.4.1 Encryption Software Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             12.4.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
             12.4.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
             12.4.4 Market Estimates and Forecasts, By Application, 2017 - 2024 (USD Million)
             12.4.5 Market Estimates and Forecasts, By Deployment Mode, 2017 - 2024 (USD Million)
             12.4.6 Market Estimates and Forecasts, By Enterprise Size, 2017 - 2024 (USD Million)
             12.4.7 Market Estimates and Forecasts, By Vertical, 2017 - 2024 (USD Million)
             12.4.8 Market Estimates and Forecasts, By Country, 2017 - 2024 (USD Million)
                       12.4.8.2 China
                                   12.4.8.1.1 Market Estimates and Forecasts, By China, 2017 - 2024 (USD Million)
                                   12.4.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.4.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.4.8.2 India
                                   12.4.8.1.1 Market Estimates and Forecasts, By India, 2017 - 2024 (USD Million)
                                   12.4.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.4.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.4.8.2 Australia and New Zealand
                                   12.4.8.1.1 Market Estimates and Forecasts, By Australia and New Zealand, 2017 - 2024 (USD Million)
                                   12.4.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.4.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.4.8.4 Market Estimates and Forecasts, By Rest of Asia Pacific, 2017 - 2024 (USD Million)
     12.5 Middle East and Africa
             12.5.1 Encryption Software Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             12.5.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
             12.5.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
             12.5.4 Market Estimates and Forecasts, By Application, 2017 - 2024 (USD Million)
             12.5.5 Market Estimates and Forecasts, By Deployment Mode, 2017 - 2024 (USD Million)
             12.5.6 Market Estimates and Forecasts, By Enterprise Size, 2017 - 2024 (USD Million)
             12.5.7 Market Estimates and Forecasts, By Vertical, 2017 - 2024 (USD Million)
             12.5.8 Market Estimates and Forecasts, By Sub-Region, 2017 - 2024 (USD Million)
                       12.5.8.2 Middle East
                                   12.5.8.1.1 Market Estimates and Forecasts, By Middle East, 2017 - 2024 (USD Million)
                                   12.5.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.5.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.5.8.2 Africa
                                   12.5.8.1.1 Market Estimates and Forecasts, By Africa, 2017 - 2024 (USD Million)
                                   12.5.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.5.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
     12.6 Latin America
             12.6.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
             12.6.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
             12.6.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
             12.6.4 Market Estimates and Forecasts, By Application, 2017 - 2024 (USD Million)
             12.6.5 Market Estimates and Forecasts, By Deployment Mode, 2017 - 2024 (USD Million)
             12.6.6 Market Estimates and Forecasts, By Enterprise Size, 2017 - 2024 (USD Million)
             12.6.7 Market Estimates and Forecasts, By Vertical, 2017 - 2024 (USD Million)
             12.6.8 Market Estimates and Forecasts, By Country, 2017 - 2024 (USD Million)
                       12.6.8.2 Brazil
                                   12.6.8.1.1 Market Estimates and Forecasts, By Brazil, 2017 - 2024 (USD Million)
                                   12.6.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.6.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.6.8.2 Mexico
                                   12.6.8.1.1 Market Estimates and Forecasts, By Mexico, 2017 - 2024 (USD Million)
                                   12.6.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.6.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)
                       12.6.8.2 Rest of Latin America
                                   12.6.8.1.1 Encryption Software Market Estimates and Forecasts, By Latin America, 2017 - 2024 (USD Million)
                                   12.6.8.1.2 Market Estimates and Forecasts, By Component, 2017 - 2024 (USD Million)
                                   12.6.8.1.3 Market Estimates and Forecasts, By Service, 2017 - 2024 (USD Million)

14 Competitive Landscape
     14.1 Overview
     14.2 Magic Quadrant
     14.3 Competitive Situation and Trends
             14.3.1 New Product/Service Launches
             14.3.2 Partnerships, Agreements, and Collaborations
             14.3.3 Mergers and Acquisitions
             14.3.4 Business Expansions

15 Company Profiles
     15.1 AWS 
             15.1.1 Business Overview
             15.1.2 Products Offered
             15.1.3 Recent Developments
             15.1.4 SWOT Analysis
             15.1.5 MnM View
     15.2 Check Point Software Technologies
             15.2.1 Business Overview
             15.2.2 Products Offered
             15.2.3 Recent Developments
             15.2.4 SWOT Analysis
             15.2.5 MnM View
     15.3 Cisco Systems
             15.3.1 Business Overview
             15.3.2 Products Offered
             15.3.3 Recent Developments
             15.3.4 SWOT Analysis
             15.3.5 MnM View
     15.4 Cyberark
             15.4.1 Business Overview
             15.4.2 Products Offered
             15.4.3 Recent Developments
             15.4.4 SWOT Analysis
             15.4.5 MnM View
     15.5 F5 Networks
             15.5.1 Business Overview
             15.5.2 Products Offered
             15.5.3 Recent Developments
             15.5.4 SWOT Analysis
             15.5.5 MnM View
     15.6 Fireeye
             15.6.1 Business Overview
             15.6.2 Products Offered
             15.6.3 Recent Developments
             15.6.4 MnM View
     15.7 Forcepoint
             15.7.1 Business Overview
             15.7.2 Products Offered
             15.7.3 Recent Developments
             15.7.4 MnM View
     15.8 Fortinet 
             15.8.1 Business Overview
             15.8.2 Products Offered
             15.8.3 Recent Developments
             15.8.4 MnM View
     15.9 F-Secure
             15.9.1 Business Overview
             15.9.2 Products Offered
             15.9.3 Recent Developments
             15.9.4 MnM View
     15.10 IBM Corporation
               15.10.1 Business Overview
               15.10.2 Products Offered
               15.10.3 Recent Developments
               15.10.4 MnM View
     15.11 Imperva
     15.12 Juniper Networks
     15.13 McAfee 
     15.14 Micro Focus
     15.15 Microsoft
     15.16 Oracle
     15.17 Palo Alto Networks
     15.18 Proofpoint
     15.19 Qualys
     15.20 Rapid7
     15.21 Rsa Security
     15.22 Sophos
     15.23 Splunk
     15.24 Symantec
     15.25 Trend Micro

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

16 Appendix
     16.1 Discussion Guide
     16.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.3 Introducing Rt: Real-Time Market Intelligence
     16.4 Available Customizations
     16.5 Related Reports
     16.6 Author Details


List of Tables (100 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 US: Market Size By Component, 2017–2024 (USD Million)
Table 42 US: Market Size By Service, 2017–2024 (USD Million)
Table 43 Canada: Market Size By Component, 2017–2024 (USD Million)
Table 44 Canada: Market Size By Service, 2017–2024 (USD Million)
Table 45 Europe: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 46 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 47 Europe: Market Size By Professional Service, 2017–2024 (USD Million)
Table 48 Europe: Market Size By Application, 2017–2024 (USD Million)
Table 49 Europe: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 50 Europe: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 51 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 52 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 53 UK: Market Size By Component, 2017–2024 (USD Million)
Table 54 UK: Market Size By Service, 2017–2024 (USD Million)
Table 55 Germany: Market Size By Component, 2017–2024 (USD Million)
Table 56 Germany: Market Size By Service, 2017–2024 (USD Million)
Table 57 Asia Pacific: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 58 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 59 Asia Pacific: Market Size By Professional Service, 2017–2024 (USD Million)
Table 60 Asia Pacific: Market Size By Application, 2017–2024 (USD Million)
Table 61 Asia Pacific: Encryption Software Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 62 Asia Pacific: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 63 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 64 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 65 China: Market Size By Component, 2017–2024 (USD Million)
Table 66 China: Market Size By Service, 2017–2024 (USD Million)
Table 67 India: Market Size By Component, 2017–2024 (USD Million)
Table 68 India: Market Size By Service, 2017–2024 (USD Million)
Table 69 Australia and New Zealand: Market Size By Component, 2017–2024 (USD Million)
Table 70 Australia and New Zealand: Market Size By Service, 2017–2024 (USD Million)
Table 71 Middle East and Africa: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 72 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 73 Middle East and Africa: Market Size By Professional Service, 2017–2024 (USD Million)
Table 74 Middle East and Africa: Encryption Software Market Size By Application, 2017–2024 (USD Million)
Table 75 Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 76 Middle East and Africa: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 77 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 78 Middle East and Africa: Market Size By Sub-Region, 2017–2024 (USD Million)
Table 79 Middle East: Market Size By Component, 2017–2024 (USD Million)
Table 80 Middle East: Market Size By Service, 2017–2024 (USD Million)
Table 81 Africa: Market Size By Component, 2017–2024 (USD Million)
Table 82 Africa: Market Size By Service, 2017–2024 (USD Million)
Table 83 Latin America: Encryption Software Market Size, By Component, 2017–2024 (USD Million)
Table 84 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 85 Latin America: Market Size By Professional Service, 2017–2024 (USD Million)
Table 86 Latin America: Market Size By Application, 2017–2024 (USD Million)
Table 87 Latin America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 88 Latin America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 89 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 90 Latin America: Encryption Software Market Size By Country, 2017–2024 (USD Million)
Table 91 Brazil: Market Size By Component, 2017–2024 (USD Million)
Table 92 Brazil: Market Size By Service, 2017–2024 (USD Million)
Table 93 Mexico: Market Size By Component, 2017–2024 (USD Million)
Table 94 Mexico: Market Size By Service, 2017–2024 (USD Million)
Table 95 Rest of LATAM: Market Size By Component, 2017–2024 (USD Million)
Table 96 Rest of LATAM: Market Size By Service, 2017–2024 (USD Million)
Table 97 New Product Launches and Product Enhancements, 2017–2018      
Table 98 Encryption Software Market: Partnerships, Agreements, and Collaborations, 2017–2018      
Table 99 Mergers and Acquisitions, 2017–2018         
Table 100 Business Expansions, 2017–2018
 
 
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 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 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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Related Technologies/Products

 

Adjacent Markets

Mar. Size
2018
CAGR 2018-23

Competitive Landscape

 
 
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Report Code
TC 3110
Published ON
Aug, 2019
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