Zion Research has published a new report titled “Encryption
Software Market by Deployment Type (Cloud and on-Premise) for Encryption for
Data-at-Rest, Full Disc Encryption, and Other Applications: Global Industry
Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to
the report, the global encryption
software market accounted for about USD 2.20 billion in 2015 and is
expected to reach around USD 7.17 billion by 2021, growing at a CAGR of around
21.7% between 2016 and 2021.
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Encryption is a method that secures data by converting plain
text into a cipher format during transmission. This method uses mathematical
algorithms which convert the information into an unreadable format which can
only retrieve using a secret code. The strength of an encryption code is
calculated by its length which is determined by the number of bits used.The
primary goal of encryption software is to encrypt and decrypt data, which also
includes features such as shredding.
With the rising proliferation of cloud and mobile devices
among enterprises, the data security concerns are also increasing. Moreover, it
heightens the inclination of the data breach, theft and loss, commercial
espionage, and cyber-attacks across several companies. With the rising strength
and volume of commercial espionage among diverse industries pertaining to
critical information the security of data is of prime importance. Thus, the
embracement of advanced data security solutions has become crucial across
companies. In addition, the strict regulatory compliance among diverse industry
verticals such as BFSI and healthcare has mandated the implementation of data
security solutions that are compliant with the certain standards.
By deployment type, cloud-based deployment accounted for the
highest share in the encryption software market in 2015. It accounted for
around 40% of the market share in the global market.The market is being
accelerated by factors such as rising need for compliance with regulatory
mandates by organizations for data protection and the rising demand for cloud
services and cloud-based databases. The rising threat of theft of intellectual
data is driving industries to adopt database encryption solutions, thereby
enhancing the growth of the market during the forecast period.
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Data-at-rest application has the highest market shared in
encryption software market.Data-at-rest encryption software accounted for the
considerable share of the total encryption software market.For data-at-rest,
the two most commonly used encryption software methods includes Full Disk
Encryption (FDE) and File Level Encryption (FLE), with Full Disk Encryption
software being which is broadly deployed method for protecting data against
theft and ensuring compliance with the data privacy and data breach
notification laws.
North America is anticipated to hold the largest market
share of the database encryption market during the next five years, followed by
Europe.It accounted around 50% of the market share in the global encryption
software market.APAC is expected to grow at the highest CAGR during the
estimated period.
Some of the prominent vendors in the encryption software
market are IBM, Microsoft, Sophos ltd, Gemalto, Net App Inc, Hewlett- Packard,
Vormetric, Oracle, Intel and Symantec.
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This report segments the global encryption software market
as follows:
Global Encryption Software Market: Deployment Type Segment
Analysis
·
Cloud
·
On-Premises
Global Encryption Software Market: Application Segment
Analysis
·
Encryption for
Data-at-rest
·
Full Disc Encryption
(FDE)
·
File Level Encryption
·
Others
Global Encryption Software Market: Regional Segment Analysis
·
North America
o
U.S.
·
Europe
o
UK
o
France
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
·
The Middle East &
Africa
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4283, Express Lane,
Suite 634-143,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: http://www.zionmarketresearch.com