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The advancements in the software and hardware technologies in the mobile industry, their dissemination among businesses, and the growing penetration of smartphones shall play an essential role in catapulting the global encryption software market. The increased usage of smart devices across organisations has come along with an added risk of data loss among enterprises, which has made encryption software crucial for the safe transmission of data. Furthermore, as industries are rapidly moving towards cloud computing, the need to protect and secure sensitive data is increasing, which, consequently, is resulting in an increased deployment for the software.
In April 2019, Thales Group (OTCMKTS: THLEF), the parent company of Thales e-Security, announced the completion of its acquisition of Gemalto, a leader in digital identity and security. The acquisition is expected to establish Thales as a leader in the encryption software industry by expanding its portfolio of digital identity and security solutions, which are based on technologies, such as biometry, data protection, and cybersecurity. Such M&A activities in the industry are expected to positively impact the global encryption software market.
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The major players in the global encryption software market are International Business Machines Corporation, Microsoft Corporation, Symantec Corporation, Thales eSecurity, Inc., Trend Micro Incorporated, Sophos Group plc, Micro Focus International plc, Cisco Systems, Inc., and Intel Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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