An urgent need to protect sensitive data amongst the organizations is expected to boost the global encryption software market during the forecast period. According to an upcoming report by Fortune Business Insights, titled, “Encryption Software Market Size, Share and Global Trend By Component (Software, Services, Support and Maintenance, Training and Education), By Deployment (On-premise, Cloud), By Applications (Database encryption, Cloud-based communication encryption, Network traffic encryption), By Organization Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, others), and Geography Forecast till 2026,” one of the main reasons for the adoption of encryption software is to curb instances of hackers trying to breaking into government, industrial, and institutional networks with the aim of stealing confidential data for financial gains.
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Fortune Business Insights profiles some of the prominent market players operating in the global encryption software market. They are as follows:
- Microsoft Corporation
- Check Point Software Technologies
- IBM Corporation
- Trend Micro
- Intel Security
- EMC Corporation
- Sophos Technologies
- Cisco Systems
Presence of Well-established Economies to Favor Growth in North America
Geographically, the global encryption software market is divided into Asia Pacific, Latin America, Europe, the Middle East and Africa, and North America. Amongst these regions, North America is anticipated to hold a major portion of the global encryption software market in the coming years. It is likely to occur due to the ongoing developments in the field of encryption software solutions. Several countries in the region possess well-developed economies, which in turn, is enabling the encryption software suppliers to invest huge sums in advanced and novel techniques. Due to the presence of multiple IT companies, North America is considered to be one of the biggest centres of innovation. Those IT companies are slowly adopting various development policies to strengthen their position in the global market.
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1. By Component
- Support and Maintenance
- Training and Education
2. By Deployment
3. By Applications
- Database encryption
- File/folder encryption
- Cloud-based communication encryption
- Network traffic encryption
4. By Organization Size
- Large Enterprises
5. By Vertical
- Banking, Financial Services, and Insurance
- IT and Telecom
- Travel and Hospitality
- Defense and aerospace
6. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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IBM Launches New Hybrid Cloud Offerings to Provide More Security and Protection
IBM, a multinational information technology company, based in New York, unveiled its new hybrid cloud offerings in February 2019. The cloud would aid businesses in managing, integrating, and migrating workloads and applications effortlessly and with security across any private or public cloud as well as on-premise IT environment. According to the estimation of the IBM Institute for Business Value, approximately 98% of the organizations surveyed plan to adopt hybrid architecture by 2021. Amongst them, only 38% will own the tools and procedures required to operate in that particular environment. Nowadays, this process is very challenging, as there is a lack of persistent integration and management tools. IBM launched the new cloud offering to support the organizations in navigating through the complications of this new landscape. The solution possesses the following characteristics:
- It provides advise on holistic cloud strategies.
- It offers industry-leading security for applications and data in the public cloud.
- It makes the management of resources hassle-free across cloud environments.
- It decreases the complexity and time needed to launch new applications and services in a secure and consistent manner.
Symantec Unveils On-premises Virtual Appliance for Dedicated SSL/TLS Inspection
Symantec, a software company, headquartered in California, released its on-premises virtual appliance (VA) in February 2019. Its VA is meant for SSL/TLS inspection. SSL Visibility (SSLV) offers the consumers a purpose-built hardware solution that allows inspection by several security tools. Consumers preferring to deploy VAs can now add SSLV to their existing private or on-premises cloud infrastructure and get the same benefits that the traditional SSLV hardware users received. The company’s new virtual appliance is a licensable software that can be installed on a VMware vSphere hypervisor server. Consumers can combine the servers on an individual hardware platform that includes the Secure Web Gateway Virtual Appliance. The SSL decryption allows other machines to provide branch office services, namely, DHCP, DNS, print, and domain controller.
Key Industry Developments
- Feb IBM announced new hybrid cloud offerings to assist companies move, integrate and handle apps and workloads seamlessly and securely across any government or private cloud and on-site IT environment.
- June 2019 – Symantec’s industry-leading solution for encrypted traffic management now available as a virtual Application which enables the users to view the decrypted data,and provides a wide variety of security tools to protect the data.
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Major Table of Content For Encryption Software Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Encryption Software Market Analysis, Insights and Forecast, 2026
- North America Encryption Software Market Analysis, Insights and Forecast, 2026
- Europe Encryption Software Market Analysis, Insights and Forecast, 2026
- Asia Pacific Encryption Software Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Encryption Software Market Analysis, Insights and Forecast, 2026
- Latin America Encryption Software Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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