Dublin, July 30, 2024 (GLOBE NEWSWIRE) — The “Encryption Software – Global Strategic Business Report” report has been added to ResearchAndMarkets.com.
The global encryption software market is estimated to reach USD 8.2 billion in 2023 and is projected to reach USD 22.8 billion by 2030, growing at a CAGR of 15.7% from 2023 to 2030. This comprehensive report provides a detailed analysis of market trends, drivers, and forecasts to help make informed business decisions.
The encryption software market is driven by various growth factors, including an increase in digital transactions that require strong security measures to protect financial data from fraud. Emerging technologies such as 5G, blockchain, and edge computing are creating new demand for strengthened encryption to ensure data integrity and confidentiality across faster networks and distributed systems. Integrating multi-factor authentication and encryption strengthens the security framework, providing defense in depth against breaches.
Additionally, the globalization of business activities necessitates encryption to comply with various international privacy laws and regulations. As quantum computing advances, the development of post-quantum cryptography will be essential to protect against potential threats, making encryption a continuing priority for businesses worldwide. Collectively, these factors underscore the enduring importance of encryption software in protecting data in an evolving digital threat environment.
Answers to your main questions:
How is the global encryption software market expected to develop by 2030? What are the key drivers and restraints influencing the market? Which market segment will grow the most during the forecast period? How will the market share of different regions and segments change by 2030? Who are the key players in the market and what are their prospects?
Key insights:
Market Growth: Understand the significant growth trajectory of the on-premise deployment segment. The on-premise deployment segment is expected to reach USD 13.8 billion by 2030, at a CAGR of 15.2%. The cloud deployment segment is also expected to grow at a CAGR of 16.4% during the analysis period. Regional Analysis: Gain insights into the US market, estimated to reach USD 2.1 billion in 2023, and the China market, projected to reach USD 5.7 billion by 2030, at a staggering CAGR of 20.0%. Identify the growth trends in other key regions such as Japan, Canada, Germany, and Asia Pacific.
Report highlights:
Comprehensive Market Data: Independent analysis of annual revenue and market forecasts (in USD million) from 2023 to 2030. Detailed Regional Analysis: Detailed insights into key markets such as the United States, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa. Company Profiles: Coverage of key companies such as Bloombase, Check Point Software Technologies Ltd., Cisco Systems, Inc., etc. Free Updates: Receive free report updates for one year to stay up to date with the latest market trends.
Key attributes:
Report AttributesDetailsNumber of Pages232Forecast Period2023 – 2030Estimated Market Value in 2023 (USD)$8.2 billionForecasted Market Value to 2030 (USD)$22.8 billionCAGR15.7%Target RegionGlobal
Market Overview
Influencer Market Insights Encryption Software – Market Share Percentage of Key Competitors Globally in 2024 (E) Competitive Market Presence – Powerful/Active/Niche/Trivial for Players Worldwide in 2024 (E) Global Economic Updates
Market Trends and Drivers
Increased cybersecurity threats drive adoption of encryption softwareRegulatory compliance and data protection laws drive demand for advanced encryption solutionsIncreasing usage of cloud services brings focus to cloud encryption technologiesAdvances in quantum computing drive innovation in quantum-resistant encryption methodsIntegration of AI and machine learning enhances capabilities of encryption softwareExpansion of IoT devices expands market opportunities for IoT encryption solutionsShift to remote work and digital collaboration drives growth of end-to-end encryption toolsAdoption of BYOD policies strengthens the business case for mobile device encryptionIncreasing awareness of data privacy issues drives adoption of personal encryption solutionsRise of blockchain technology drives interest in blockchain-based encryption methodsFocus on secure communication channels drives demand for encrypted messaging platformsEvolution of zero-trust security model brings focus on encryption as a means of securityKey componentDigitalization of economy and online transactions accelerates demand for encryption solutions for e-commerceEmphasis on protection of intellectual property drives interest in file and disk encryption softwareAdvent of 5G technology leads to the emergence of encrypted networksExpanding Traffic OpportunitiesSurge in ransomware attacks brings focus to ransomware-resistant encryption solutionsAdoption of hybrid and multi-cloud environments drives growth of multi-cloud encryption solutions
Focus on selected athletes (258 in total)
BloombaseCheck Point Software Technologies Ltd.Cisco Systems, Inc.IBM CorporationMcAfee LLCMicrosoft CorporationOracle CorporationSophos Ltd.Symantec CorporationTrend Micro, Inc.Winmagic Inc.
For more information on this report, visit: https://www.researchandmarkets.com/r/crdt4z
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Global Encryption Software Market
