Encryption Software Market Size, Share, Trends, Demand, Key Players and Opportunities by 2023

The global encryption software market can be categorized on the basis of user type, application, deployment type, industry verticals, and regions. Based on user type, the global encryption software market can be categorized into enterprises and server message block (SMB’s). Based on applications, the global encryption software market can be categorized into disk encryption, file or folder encryption, communication encryption, database encryption and cloud encryption.
Image result for Encryption SoftwareOne of the major drivers for global encryption software market is the increased data security expenditure of organizations. With the increasing cyber-threats and governing compliance, the adoption of encryption software has been on the rise. The advancement in technology, such as end-to-end encryption, is encouraging more number of organizations to adopt encryption software. Increasing adoption of new technologies such as cloud, mobility and virtualization has also been driving the need for encryption.
The increasing adoption of bring your own device (BYOD) policy is one of the major trends observed in the encryption software market. The small and medium sized enterprises (SMEs) adopt BYOD solutions to manage their business operations and provide secure access to data from any place, as they find on-premises encryption software solutions expensive.
Among regions, North America dominates the global encryption software market, followed by Europe. Owing to increasing adoption of technologies and strict data privacy regulatory compliance, North America is expected to retain its leadership in the global encryption software market during the forecast period.
Cisco Systems, Microsoft, Symantec, TrueCrypt, OpenPuff, Cryptocat, KeePass, winmagic data security are some of the major competitors operating in the global encryption software market.
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