The US encryption software market is projected to grow at a significant CAGR during the forecast period (2020-2026). The increasing number of cyber-attacks in the US is estimated to have a major impact on the growth of the US market. Over the past few years, a rapid increase in the growth of cyber-attacks has been observed. The growth in cyber-attacks is majorly attributed to the increasing adoption of cloud-based services in the region, as cloud computing platforms are more vulnerable to cyber-attacks and data leakages. Large database and point of sale systems are targeted by hackers for financial gains.
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Further, a rise in the number of cyber-attacks and hackers linked with the rival nation that targets government organizations, systems, infrastructures to steal political insights are also very frequent. These are also estimated to have a positive impact on the growth of the market owing to the growing demand for encryption software in the country. Rising cyber-attacks in the US are estimated to continue the trend in the foreseeable future. This problem gives rise to the need for effective security systems integrated with encryption software for the investigation of cyber-crimes. Therefore, it is estimated to drive the growth of the market during the forecast period.
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US 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.)
