The North American encryption software market is projected to grow at a significant CAGR during the forecast period (2020-2026). The increased adoption of cloud-based services in the region is also influencing the adoption of encryption software for cloud data in enterprises. Cloud computing refers to the on-demand access of data and programs from a centralized pool of resources. The rising adoption of the cloud platform is attributed to the faster deployment of new capabilities in enterprises. Various factors can influence the adoption of cloud-based solutions by SMEs (small and medium enterprises) such as organization characteristics, competitiveness, and management strategies.
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In the US, there were around 5,954,000 firms in 2016 which increased to nearly 5,997,000 in 2017 as per the data provided by census.gov. Moreover, the organization also stated that over the period 2016-2017, the number of firms in the country continues to increase. Firms having 20 to 99 employees have increased by over 6 thousand units. Whereas, firms having people around 100 to 499 increased by 1,700 units over the same period. The growing number of enterprises creates the demand for encryption software that further projects to propel the market growth in the region. In addition, significant cyber incidents in BFSI, and military and defense are encouraging the adoption of encryption software in the region.
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North American 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.)
