Global Encryption Software Market: Overview
Software companies
around the world have been rapidly adopting encryption software to boost
business proficiency and improve data security. Software-based encryption is
one of the fastest-emerging solutions for end-point data security. The growing
concerns of data breaches and privacy compliance regulations are making
companies keener to adopt software-based encryption solutions to achieve
compliance, improved data security, and better flexibility in operations.
Additionally, the global market for encryption software is also gaining impetus
from the increasing adoption of the latest technologies such as cloud,
virtualization, and mobility.
Encryption software
helps in protecting the confidentiality of the information stored in folders
and files and data travelling over networks or data in-transit as per the
compliance and security requirements of an organization. It encrypts and
decrypts data at-rest and data-in-transit using software. Hence, by rendering
the data unreadable even to the person authorized, encryption software helps
enhance the security of confidential data. The adoption of encryption software
is therefore expected to increase in response to the increasing incidence of
cyber-attacks.
The report presents
insights into various factors encouraging and inhibiting the global market for
encryption software. Using industry-leading analytical tools, it analyzes
factors affecting the market’s growth trajectory over the forecast period. The
impact of the prevailing competitive landscape and government policies is also
studied in the report in detail. In order to present a holistic overview of the
competitive landscape of the global encryption software market, the report also
profiles some of the leading players operating therein.
Encryption Software Market: Key Trends and
Opportunities
A staggering amount of
data is generated on a daily basis with the growing incorporation of mobile and
cloud-based devices across enterprises, thereby increasing apprehensions
related to data security. Additionally, organizations have become more
vulnerable to data breach, loss, theft, cyber-attacks, and commercial
espionage. Hence, companies have begun prioritizing data security more than
ever with the escalating strength of commercial espionage across industries.
Additionally, while the
widespread adoption of personal computers has in many ways made life simpler,
it has also widened the scope for security breaches. The surging number of
computer hackers attempting to break into organizational, industrial, or government
networks with the intent of pilfering essential information for monetary gains
has been the primary reason behind the increasing adoption of encryption
software. Additionally, the growing trend of bring your own device (BYOD)
policies at work and increased penetration of mobile devices across enterprises
have augmented the risk of data loss among organizations. This has, in turn,
made implementing encryption software imperative for secure data
transmission.
The business ecology
around the world is becoming more dynamic in response to the growing
receptivity toward the latest technologies, such as social media, cloud, and
mobility, thus increasing the volume of the data generated across these
enterprises. This increasing uptake of mobile devices across enterprises
further makes critical data susceptible to loss and theft. Encryption software
solutions are therefore increasingly demanded across organizations for
safeguarding business data.
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