Chicago, Sept. 12, 2022 (GLOBE NEWSWIRE) — Encryption Software Market size is expected to grow from USD 10.9 billion in 2021 to USD 22.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 15.2% from 2021 to 2026, according to a new report by MarketsandMarkets™.
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382 – Tables
54 – Figures
300 – Pages
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Scope of the Report:
Encryption software refers to the broad range of security software deployed by enterprises to protect and secure their data from potential risks that include data breach threats. Loss/compromise of data could be expensive for organizations as it could potentially drain their revenues and put the company’s reputation at stake.
The risks involved with the data loss vary from enterprises to enterprises depending upon the sensitivity of the data, that the organizations deal with. Software such as encryption, data masking, are offered by security companies which help in mitigating these threats and vulnerabilities securing data at rest and data in transit.
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Encryption software provides various benefits such as identification of fraudulent activities, security from data breach, etc.
The scope of this report covers the analysis of the Encryption Software Market since 2015, based on contemporary market trends and developments, and its potential growth from 2021 to 2026. It provides detailed market trends, vendors’ market shares, market size, forecasts, and analysis of key players in the managed security services overall market. By region, the Encryption Software Market in the Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. Countries in the region have been witnessing a significant rise in the adoption of Encryption software solutions and services. The high growth is due to the increasing advancements in innovative technologies in financial markets and growing stringent regulations in the country.
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An increase in the adoption of Encryption software solutions in IT and Telecommunications companies are expected to boost the growth of the Encryption Software Market. Additionally, Encryption Software Market is expected to witness rapid growth worldwide due to various factors such as Stringent regulatory standards and data privacy compliances, rising concerns pertaining to loss of critical data and Exponential increase in adopting cloud and virtualization technologies.
Major vendors in the global Encryption Software Market include IBM (US), Microsoft (US), Broadcom (US), Sophos (UK), Thales (France), McAfee (US), Trend Micro (Japan), Dell (US), Check Point (Israel), Micro Focus (UK), PKWare (US), ESET (Slovakia), Boxcryptor (Germany), WinMagic (US), Cryptomathic (Denmark), Bitdefender (Romania), Stormshield (France), Cisco (US), HPE (US), Bitglass (US), Baffle (US), Fortanix (US), Enveil (US), Nord Security (Panama), PreVeil (US).
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