The global market for encryption software is projected to have considerable CAGR of 16.1% during the forecast period. The major factors that propels the encryption software market include the growing concern related to data privacy and security coupled with increase in cyber attacks and data breaches across the enterprises. Data security and privacy have a essential part in enterprises that support in preventing unaccredited access to computers, websites, and databases. However, the concerns regarding data security and privacy have been growing considerably owing to the abundant amount of unprotected data and poor cyber security. Data loss is a major concern for enterprises of all sizes as it results in losing money and time to recover information which is vital for every enterprise. The encryption software is considered as a crucial data protection solution that encrypted the data and stores original data in case of cyber attacks.
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The global encryption software market is segmented based on deployment type, application and industry. Based on the deployment type, the market is further classified into on-premises ad cloud- based. The cloud-based segment is projected to grow at a significant CAGR during the forecast period. The various industries such as retail, IT & telecom are adopting cloud-based software for the data encryption and file encryption. The application segment in the global encryption software market further classified into database encryption, disk encryption, communication encryption, file encryption, and others. The database encryption segment is estimated to grow considerably during the forecast period. On the basis of industry the market is further segregated into BFSI, IT & telecom, government, retail & e-commerce, and others.
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Global Encryption Software Market Segmentation
By Deployment Type
- On-Premises
- Cloud-Based
By Application
- Database Encryption
- Disk Encryption
- Communication Encryption
- File Encryption
- Others (Cloud Encryption)
By Industry
- BFSI
- IT & Telecom
- Government
- Retail & E-commerce
- Other (Healthcare)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
