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Global Encryption Software Market: By Component: Software, Services; By Application: Disk Encryption, File/Folder Encryption, Others; By Deployment Mode; By Enterprise Size; By Industry; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Encryption Software Market Outlook

The global encryption software market stood at a value of around USD 7.93 billion in 2020. The market is further expected to grow at a CAGR of 16.3% in the forecast period of 2022-2027 to attain a value of USD 19.55 billion by 2026.

 

Global Encryption Software Market

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Cloud Encryption Segment to Account for a Significant Market Share of the Global Encryption Software Industry

Based on application, the cloud encryption segment is predicted to hold a significant market share in the encryption software industry. This growth can be attributed to the increased implementation of cloud technology in major industry verticals such as the healthcare and retail industry to consolidate business processes, provide access and storage to a wide range of data, and improve work efficiency. In addition, the increased demand for data security to mitigate the risk of data theft and leak is further aiding the market growth. Cloud encryption helps to encode the data as it travels to improve the security of stored data. These factors are expected to contribute to the overall market growth in the forecast period.

 

North America to Occupy a Significant Market Share in the Global Encryption Software Industry

North America is estimated to hold a significant share of the encryption software industry in the forecast period. This growth can be attributed to the presence of leading market players in the region. In addition, the heightened adoption of digital solutions across industry verticals is leading to an increased demand for encryption software to help in the protection of digital data. Moreover, the increased investment in the development of encryption software technology is also expected to positively impact the market growth in the coming years.

 

Encryption Software: Market Segmentation

Encryption software provides digital data protection by utilising the concept of cryptography. This software helps to prevent any unauthorised access to any digital data. Through this technology, the data is converted into ciphertexts, which can only be accessed through a key or password. The encrypted file has to be decrypted in order to access it and obtain the data. This helps to ensure the safety of digitally stored information and keep it safe from any incidences of theft.

 

Global Encryption Software Market By Application

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By component, the market is divided into:

  • Software 
  • Services

Among these, the services segment can be further categorised based on type into professional services and managed services.

On the basis of application, the market can be segmented into:

  • Disk Encryption 
  • File/Folder Encryption
  • Database Encryption 
  • Communication Encryption
  • Cloud Encryption

Based on deployment mode, the industry can be bifurcated into:

  • On-Premise 
  • Cloud

On the basis of enterprise size, the market can be distributed into:

  • Small and Medium-Sized Enterprises
  • Large Enterprises

Based on industry, the market can be categorised into:

  • Banking, Financial Services, and Insurance
  • Aerospace and Defence
  • Government and Public Utilities
  • IT and Telecommunication
  • Healthcare 
  • Retail 
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Encryption Software Market By Region

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Heightened Digitalisation and the Growing Internet Penetration to Drive the Global Encryption Software Industry

Organisations, big and small, are exceedingly investing in employing digital solutions in their business operations to improve their productivity and expand their distribution channels while streamlining the varied processes involved. The growing internet penetration and increased digitalisation with heightened adoption of internet of things (IoT)  across different industry verticals are expected to enhance the demand for encryption software technology. Moreover, with the growing trend of remote working facilities and the usage of enterprise mobility solutions such as smartphones and tablets, the risk for data leaks and data theft has also increased. Consequently, enterprises are investing in quality encryption software mechanisms to mitigate the risk of data theft, especially in cloud-based operations. In addition, the rising awareness pertaining to encryption technology is also contributing to its popularity in the market. These factors are estimated to positively impact the market growth in the forecast period.

 

Key Industry Players in the Global Encryption Software Market

The report gives a detailed analysis of the following key players in the global encryption software market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • IBM Corporation
  • Microsoft Corporation
  • NortonLifeLock Inc.
  • Trend Micro Inc.
  • Micro Focus International Plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Application, Deployment Mode, Enterprise Size, Industry, Region
Breakup by Component Software, Services
Breakup by Application Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption, Cloud Encryption
Breakup by Deployment Mode On-Premise, Cloud
Breakup by Enterprise Size Small and Medium-Sized Enterprises, Large Enterprises
Breakup by Industry Banking, Financial Services, and Insurance, Aerospace and Defence, Government and Public Utilities, IT and Telecommunication, Healthcare, Retail, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered IBM Corporation, Microsoft Corporation, NortonLifeLock Inc., Trend Micro Inc., Micro Focus International Plc, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Encryption Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Encryption Software Historical Market (2017-2021) 
    8.3    Global Encryption Software Market Forecast (2022-2027)
    8.4    Global Encryption Software Market by Component
        8.4.1    Software
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Professional Services
                8.4.2.4.2    Managed Services
    8.5    Global Encryption Software Market by Application
        8.5.1    Disk Encryption
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    File/Folder Encryption
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Database Encryption
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Communication Encryption
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Cloud Encryption
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2017-2021)
            8.5.5.3    Forecast Trend (2022-2027)
    8.6    Global Encryption Software Market by Deployment Mode
        8.6.1    On-Premise
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Cloud
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Encryption Software Market by Enterprise Size
        8.7.1    Small and Medium-Sized Enterprises
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Large Enterprises
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
    8.8    Global Encryption Software Market by Industry
        8.8.1    Banking, Financial Services, and Insurance
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2017-2021)
            8.8.1.3    Forecast Trend (2022-2027)
        8.8.2    Aerospace and Defence
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2017-2021)
            8.8.2.3    Forecast Trend (2022-2027)
        8.8.3    Government and Public Utilities
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2017-2021)
            8.8.3.3    Forecast Trend (2022-2027)
        8.8.4    IT and Telecommunication
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2017-2021)
            8.8.4.3    Forecast Trend (2022-2027)
        8.8.5    Healthcare
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2017-2021)
            8.8.5.3    Forecast Trend (2022-2027)
        8.8.6    Retail
            8.8.6.1    Market Share
            8.8.6.2    Historical Trend (2017-2021)
            8.8.6.3    Forecast Trend (2022-2027)
        8.8.7    Others
    8.9    Global Encryption Software Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    IBM Corporation
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Microsoft Corporation
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    NortonLifeLock Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Trend Micro Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Micro Focus International Plc
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Encryption Software Market: Key Industry Highlights, 2016 and 2026
2.    Global Encryption Software Historical Market: Breakup by Component (USD Billion), 2017-2021
3.    Global Encryption Software Market Forecast: Breakup by Component (USD Billion), 2022-2027
4.    Global Encryption Software Historical Market: Breakup by Application (USD Billion), 2017-2021
5.    Global Encryption Software Market Forecast: Breakup by Application (USD Billion), 2022-2027
6.    Global Encryption Software Historical Market: Breakup by Deployment Type (USD Billion), 2017-2021
7.    Global Encryption Software Market Forecast: Breakup by Deployment Type (USD Billion), 2022-2027
8.    Global Encryption Software Historical Market: Breakup by Enterprise Size (USD Billion), 2017-2021
9.    Global Encryption Software Market Forecast: Breakup by Enterprise Size (USD Billion), 2022-2027
10.    Global Encryption Software Historical Market: Breakup by Industry (USD Billion), 2017-2021
11.    Global Encryption Software Market Forecast: Breakup by Industry (USD Billion), 2022-2027
12.    Global Encryption Software Historical Market: Breakup by Region (USD Billion), 2017-2021
13.    Global Encryption Software Market Forecast: Breakup by Region (USD Billion), 2022-2027
14.    North America Encryption Software Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    North America Encryption Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Europe Encryption Software Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Europe Encryption Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Asia Pacific Encryption Software Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Asia Pacific Encryption Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Latin America Encryption Software Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Latin America Encryption Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Middle East and Africa Encryption Software Historical Market: Breakup by Country (USD Billion), 2017-2021
23.    Middle East and Africa Encryption Software Market Forecast: Breakup by Country (USD Billion), 2022-2027
24.    Global Encryption Software Market Structure

Key Questions Answered in the Report

In 2020, the global encryption software market attained a value of nearly USD 7.93 billion.

The market is projected to grow at a CAGR of 16.3% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 19.55 billion by 2026.

The major drivers of the industry, such as the increased demand for encryption software in major industry verticals, the rising adoption of IoT solutions, the rapid spread of the internet, heightened deployment of cloud-based digital solutions, and the increasing investments in research and development activities by the leading technology companies, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the rapid digitalisation.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant components of the product are software and services.

The major applications of the product are disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption.

The significant segments based on deployment mode include on-premise and cloud.

The major segments based on enterprise size include small and medium-sized enterprises and large enterprises.

The significant industry segments include banking, financial services, and insurance, aerospace and defence, government and public utilities, IT and telecommunication, healthcare, retail, and others.

The major players in the industry are IBM Corporation, Microsoft Corporation, NortonLifeLock Inc., Trend Micro Inc., Micro Focus International Plc, and others.

Analyst Review

The global encryption software market attained a value of USD 7.93 billion in 2020, driven by the increased digitalisation. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 16.3%. The market is projected to reach USD 19.55 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of component, the market can be distributed into software and services. Based on application, the industry can be segmented into disk encryption, file/folder encryption, database encryption, communication encryption, and cloud encryption. By deployment mode, the industry can be segregated into on-premise and cloud. The industry can be categorised, based on enterprise size, into small and medium-sized enterprises and large enterprises. On the basis of industry, the market can be divided into banking, financial services, and insurance, aerospace and defence , government and public utilities, IT and telecommunication, healthcare, retail, and others. The major regional markets for encryption software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include IBM Corporation, Microsoft Corporation, NortonLifeLock Inc.,  Trend Micro Inc., Micro Focus International Plc, a nd others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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