HOME Research Insight Thales e-Security and PKWARE are the Major Players in the Encryption Software Market

Thales e-Security and PKWARE are the Major Players in the Encryption Software Market

The encryption software market size is expected to grow from USD 3.87 Billion in 2017 to USD 12.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.4%, owing to the significant increase in cloud adoption and the need to safeguard mission-critical information residing on the enterprise networks, databases, and cloud environment

Some of the major players in the encryption software market include Thales e-Security (La Defense, France), Gemalto (Amsterdam, Netherlands), Symantec (California, US), Dell (Texas, US), Sophos (Abingdon, UK), McAfee (California, US), Trend Micro (Tokyo, Japan), IBM (New York, US), Microsoft (Washington, US), PKWARE (Wisconsin, US), CipherCloud (California, US), ESET (Bratislava, Slovakia).

These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; acquisitions; and new product launches. These strategies helped them achieve a strong foothold in the encryption software market, along with better profit margins.

Thales e-Security is said to be highly active in its organic growth strategy of new product laucnhes. It launched a new version of CipherTrust Monitor in May 2017, which aids in monitoring the Hardware Security Module (HSMs) of both kind payShield and nShield. The company also launched crypto-as-a-service solution in February 2017.  . Furthermore, the company accelerated its inorganic growth strategy by partnering with various companies, such as BT Group plc, Canon IT Solutions Inc., Salesforce, and FireEye, Inc. In March 2017, Thales partnered with BT Group plc, under which, BT would be delivering Vormetric Transparent Encryption solution to its customers across the globe.

PKWARE is highly focused on the organic growth strategies, such as new product developments and product enhancements. In July 2017, PKWARE enhanced the data discovery capabilities of the Smartcrypt Platform. The new capability of data discovery aids in identifying, protecting, and controlling the sensitive data of enterprises. In October 2016, the company launched Smartcrypt Transparent Data Encryption (TDE), a data-at-rest security solution, which helps customers in encrypting the data stored in the endpoints. The company is also focused on the inorganic growth strategy of partnerships and collaborations. PKWARE has partnered with a few significant companies, such as Kite Distribution, Digital Pathways, WaveStrong, Innovation Network Technologies, and QuintessenceLabs. In September 2017, PKWARE partnered with Kite Distribution, a key player technology distribution and channel services. Under this partnership, PKWARE aims to deliver its encryption solutions to its customers across the UK. In September 2016, PKWARE partnered with QuintessenceLabs to develop the best-in-class encryption solution, which has management capabilities.

The encryption software market research report analyzes the global adoption trends, future growth potentials, key drivers, vendor portfolio analysis, restraints, opportunities, and the value chain in the market.

Related Reports:

Encryption Software Market by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, and Cloud Encryption), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2022

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