Encryption Software Market is Expected to Record CAGR of 15% over 2020 to 2026

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Encryption Software Market Will Witness A Rapid
Growth to 2026
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Key Insights Encryption Software Market

• Data privacy and protection are among the
  top-most priorities of todays tech-driven
  industries. With growing concerns, the encryption
  software market is expected accrue sizeable
  proceeds in the coming years. In a bid to combat
  cases of data breaches and cyber frauds, various
  countries worldwide have started imposing
  stringent regulations. Authorities are even
  trying to create awareness by educating the
  population about cybercrimes.
• Stating an example from China, in November 2019,
  the State Cryptography Administration (SCA)
  issued a draft for an encryption law that would
  regulate encryption in the public and private
  sectors. This draft would help Chinese
  authorities establish guidelines on the use of
  cryptography which in turn would protect national
  security.
• Growing integration of email, mobile and disk
  encryption capabilities in various security
  suites for addressing evolving cyber threats
  across the retail, BFSI, and healthcare sectors
  could massively aid the encryption software
  market growth.
• Over the years, these industry sectors have seen
  a healthy increase in the usage of data
  protection solutions in order to safeguard their
  non-sensitive/sensitive data. With increasing
  inclination, Global Market Insights Inc. predicts
  that the encryption software market may USD 21
  billion by 2026.

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Continued

• Proliferating demand for comprehensive security
  software solutions that can effectively safeguard
  users data from identity thefts, phishing and
  malware could drive the email encryption software
  market expansion. Analysts predict that the
  segment might own more than 25 of the overall
  encryption software market share by 2026.
• Email is often considered as a universal mean of
  communication and is commonly used in big and
  small enterprises. In a move to prevent
  unauthorized access to email or data, several
  companies are preferring installation of strong
  email data protection software. These solutions
  encrypt data in transit as well as run
  multi-factor authentication for extra security.
• In terms of application, the retail sector is
  anticipated to endow considerable growth
  opportunities to the encryption software market.
  Factors such as the growing need to safeguard
  consumer data throughout a retail business could
  play a vital role in complementing product
  demand.

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Major Companies In Encryption Software Market

• AO Kaspersky Lab
• Bitdefender
• Check Point Software Technologies Ltd.
• Ciphercloud.com
• Cisco Systems
• Dell Technologies Inc.
• ESET
• spol s.r.o.
• IBM Corporation
• F-secure
• McAfee
• MicroFocus
• Microsoft Corporation
• Panda Security
• Proofpoint
• Sophos Ltd
• Symantec Corporation
• Thales eSecurity
• Trend Micro

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Regional Encryption Software Market

• The retail sector is currently observing heavy
  intake of third-party services to strengthen
  online transactions and to maximize customer
  experience. This has triggered a wave of
  cybercrimes such as data breaches which could
  exploit customers sensitive data including
  personal credentials and credit card bank
  account details. According to Thales eSecurity,
  nearly 75 of the American retailers have
  undergone a breach in 2018 as compared to 52 in
  2017. Credible reports cite that the demand for
  cybersecurity solutions like encryption software
  will rise significantly between 2020 to 2026,
  thereby preventing potential theft customer
  information breach over the forecast timeframe.
• Several emerging startups and cybersecurity
  vendors are trying to transform the cyber
  encryption landscape by offering a broad range of
  application that perfectly accommodates all the
  security needs of numerous SMEs and big
  organizations. Moreover, small startups like
  Cosmian (Paris), Enveil (U.S.), PreVeil LLC
  (U.S.) and Duality (U.S.) are employing various
  growth strategies like fund-raising activities to
  expedite business expansion and innovate new
  offerings. Citing an instance, PreVeil has
  secured USD 7 million from its Series B funding
  round in September 2019, led by Presidio
  Ventures.

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