Encryption Software Market Trends, Growth Analysis, Business Strategies and Investment Opportunities till 2026 – The Daily Chronicle

Encryption Software Market is expected to exceed USD 21 billion by 2026. The market growth is attributed to supportive government initiatives to combat cybercrimes and the rising instances of data breaches globally. For example, in November 2019, Chinas State Cryptography Administration (SCA) published a draft of an encryption law, which will regulate encryption in the private & public sectors. The draft also set guidelines on the usage of cryptography to safeguard national security. The growing implementation of disk, email, and mobile encryption capabilities in security suites provided by the cybersecurity vendors to address the evolving threats will augment market growth.

Data privacy and protection are among the top-most priorities of todays tech-driven industries. With growing concerns, the encryption software industry is expected accrue sizeable proceeds in the coming years. In a bid to combat cases of data breaches and cyber frauds, various countries worldwide have started imposing stringent regulations. Authorities are even trying to create awareness by educating the population about cybercrimes.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4484

Stating an example from China, in November 2019, the State Cryptography Administration (SCA) issued a draft for an encryption law that would regulate encryption in the public and private sectors. This draft would help Chinese authorities establish guidelines on the use of cryptography which in turn would protect national security.

Growing integration of email, mobile and disk encryption capabilities in various security suites for addressing evolving cyber threats across the retail, BFSI, and healthcare sectors could massively aid the encryption software market growth.

Over the years, these industry sectors have seen a healthy increase in the usage of data protection solutions in order to safeguard their non-sensitive/sensitive data. The encryption software market may USD 21 billion by 2026.

Proliferating demand for comprehensive security software solutions that can effectively safeguard users data from identity thefts, phishing and malware could drive the email encryption software market expansion. Analysts predict that the segment might own more than 25% of the overall encryption software market share by 2026.

Latin America encryption software market is expected to grow at a CAGR of over 18% from 2020 to 2026 due to the rising number of cyberattacks on the business-critical infrastructure, growing usage of digital platforms among enterprises to conduct business transactions, and supportive government initiatives to promote cybersecurity. For instance, since December 2019, the Mexican institutions including Mexico Central Bank, the National Defense Ministry (Sedena), Mexico Supreme Court, and the House of Representatives recorded more than 45 million attempted attacks to access databases and steal information.

The rapidly evolving threat landscape has compelled public & private enterprises to promote digital security to safeguard sensitive business information. The government agencies in the countries including Mexico, Brazil, and Argentina are introducing cybersecurity strategies to respond to a wide array of cyberattacks. For instance, in November 2017, the Mexican government presented the National Cyber Security Strategy in collaboration with the Inter-American Committee against Terrorism (CICTE). The strategy aims at establishing best practices to fight against cybercrimes.

Request for customization @ https://www.decresearch.com/roc/4484

The competition in the encryption software market is characterized by strategic partnerships, new product launches, and geographic expansion. For instance, in November 2019, Sophos partnered with Telefonica UK (O2) to provide its products & services to Telefonicas customers in the UK. The partnership enables the customers to gain access to Sophos Central cloud-based security platform to secure their organizations.

Table of Contents (ToC) of the report:

Chapter 5. Encryption Software Market, By Component

5.1. Key trends, by component

5.2. Software

5.2.1. Market estimates and forecast, 2015 2026

5.2.2. Endpoint encryption

5.2.2.1. Market estimates and forecast, 2015 2026

5.2.3. Email encryption

5.2.3.1. Market estimates and forecast, 2015 2026

5.2.4. Cloud encryption

5.2.4.1. Market estimates and forecast, 2015 2026

5.3. Service

5.3.1. Market estimates and forecast, 2015 2026

5.3.2. Training & consulting

5.3.2.1. Market estimates and forecast, 2015 2026

5.3.3. Integration & maintenance

5.3.3.1. Market estimates and forecast, 2015 2026

5.3.4. Managed service

5.3.4.1. Market estimates and forecast, 2015 2026

Chapter 6. Encryption Software Market, By Deployment Model

6.1. Key trends, by deployment model

6.2. On-premise

6.2.1. Market estimates and forecast, 2015 2026

6.3. Cloud

6.3.1. Market estimates and forecast, 2015 2026

Chapter 7. Encryption Software Market, By Application

7.1. Key trends, by application

7.2. IT & telecom

7.2.1. Market estimates and forecast, 2015 2026

7.3. BFSI

7.3.1. Market estimates and forecast, 2015 2026

7.4. Healthcare

7.4.1. Market estimates and forecast, 2015 2026

7.5. Retail

7.5.1. Market estimates and forecast, 2015 2026

7.6. Government & public sector

7.6.1. Market estimates and forecast, 2015 2026

7.7. Manufacturing

7.7.1. Market estimates and forecast, 2015 2026

7.8. Others

7.8.1. Market estimates and forecast, 2015 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/encryption-software-market

Read the original post:
Encryption Software Market Trends, Growth Analysis, Business Strategies and Investment Opportunities till 2026 - The Daily Chronicle