According to a new report Global Encryption Software market (2016-2022), published by KBV Research, the global Encryption Software is expected to attain a market size of $10.1 billion by 2022, growing at a CAGR of 22.3% during the forecast period.
Increasing cybercrimes has compelled the governments to make data security as a mandatory measure in organizations. With stringent regulations, organizations are compelled to formulate effective data security strategies. Securing sensitive data or the personally identifiable data (PII) pertaining to customers, employees and the company needs to be protect by the law of land; therefore, companies are now focusing on implementing security strategies.
The Disk Encryption market dominated the Global Encryption Software Market by Application in 2015, and would continue to be a dominant market till 2022; thereby, achieving a market value of $2,836.5 million by 2022. The Cloud Encryption market is expected to witness a CAGR of 24.8% during (2016 – 2022).
North America was the largest revenue-generating region for the global encryption software market with in 2015, and would be the highest revenue-generating region during the forecast period. Stringent compliance demands of both federal and sector –specific data protection laws and the increasing incidence of high profile breaches are the two factors driving the market growth.
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key influencing factors of the global Encryption Software have been discussed in the report along with the elaborated company profiles of Symantec Corporation, Check Point Software Technologies, IBM Corporation, Cisco Systems, Inc., Intel Corporation, HP Enterprise Company, FireEye, Inc., Infineon Technologies AG, AT&T Inc. and Dell Inc. (SonicWall Inc.).