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Encryption Software Market by Usage (Encryption for Data-at-rest, Encryption for Data-in-transit), by verticals (Financial Sector, Healthcare, Public Sector) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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IC_171100
Pages: 131
Jan 2017 | 5104 Views
 
Author's : Sonia Mutreja
Tables: 25
Charts: 31
 

Encryption Software Market Overview:

The World Encryption Software Market is expected to reach $2,894 million by 2022, growing at a CAGR of 15.2% from 2017 to 2022. Encryption ensures the safety and privacy of data by converting a message or plain text into coded message called the Cipher text so that only the authorized parties can read it. The plain text is encrypted/coded using an algorithm and an encryption key which can be encoded or deciphered only by the recipient by using the correct encryption key. Thus, by converting plain text into cipher text, encryption prevents any unintended person from reading the same, and ensures that it can be interpreted only by the authorized person. This ensures safety and privacy of data.

Software-based encryption is one of the fast-emerging end point data security solutions. An increasing number of organizations worldwide are adopting encryption to address their growing concerns of data safety and data privacy compliance regulations. With data protection and compliance becoming a high priority, organizations have started to view encryption as an enabler to achieve compliance, data security and flexibility. In addition to the complex regulations, increasing adoption of new technologies such as mobility, cloud and virtualization have also fueled the growth of encryption software market.

Encryption Software Market

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Traditionally, end point security has been associated with antivirus/antimalware. However, with increasing complexity of cybercrimes and demanding compliance requirements for the protection and privacy of personally identifiable information, enterprises are increasingly deploying a layered defense. The portfolio of end point security solutions being adopted by enterprises comprises of a bundle of different solutions such as antimalware, device and media control, data leak protection, with encryption being one of the key solutions.

The main purpose of an encryption software is to protect the confidentiality of the data stored in files/folders and disks or data-at-rest; and the data travelling over wireless network or data-in-transit, depending upon the security and compliance requirements of an organization. This is achieved by converting a message or plain text into coded message called the Cipher text so that only the authorized parties can read it. Software-based encryption uses software to encrypt and decrypt data at-rest as well as data-in-transit. Thus, by rendering the data unreadable by unauthorized persons, encryption software ensures the safety and security of the confidential data. Additionally, several data privacy legislations necessitate the use of encryption or cite encryption as one most appropriate measures of data protection. Thus, the adoption of encryption would continue to grow in response to data protection compliance regulations and the on-going cyber-attacks.

Segment Overview

The encryption software market report covers full disk encryption, and file level encryption which are prominent technologies used for data protection. Full disk and file-level encryption are covered under encryption software for data-at-rest. This report, on a whole, only features information on various types of encryption software along with their adoption in different industry verticals.

The encryption software market is segmented by usage, industry verticals, and geography. Based on usage, it is sub-segmented into data-at-rest and data-in-transit. In 2016, data-at-rest generated the highest revenue in the global encryption software market. However, data-in-transit sub-segment is anticipated to exhibit the highest growth during the forecast period.

Based on industry verticals, the encryption software market is segmented into financial sector, government, healthcare, and others. In 2016, financial sector dominated the encryption software industry, in terms of revenue, and is projected to continue its dominance throughout the forecast period.

The geographical regions considered in the encryption software market report are North America, Europe, Asia-Pacific, and LAMEA. Presently, North America dominates the world encryption software market, followed by Europe. It is expected that the North America would continue to dominate the world encryption software market during, 2014-2022 owing to the burgeoning number of high profile data breaches, stringent data privacy compliance regulations and the increasing adoption of technologies specifically cloud and mobility.

Key Benefits

  • The study provides an in-depth analysis of the encryption software market with current and future trends to elucidate the imminent investment pockets
  • Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold in the encryption software market
  • The report provides information regarding key drivers, restraints, opportunities, and impact analysis
  • Quantitative analysis of the current market and estimations through 20172022 are provided to highlight the financial caliber of the encryption software market and is also impacting the encryption software growth
  • Porters Five Forces model and SWOT analysis of the industry illustrates the potency of the buyers & suppliers participating in the market
  • Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain

Encryption Software Market Key Segments:

By Usage

  • Encryption for Data-at-rest
  • Full Disc Encryption (FDE)
  • File Level Encryption (FLE)
  • Encryption for Data-in-transit

By Verticals

  • Financial Sector
  • Healthcare
  • Public Sector
  • Others (Majorly Retail)

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Key Market Players Profiled

  • Symantec Corporation
  • Sophos Holdings Ltd.
  • McAfee
  • Check Point Software Technologies
  • Proofpoint
  • Trend Micro

Other Companies Mentioned in the Report

Other companies mentioned in the report include Google, Facebook, Microsoft, Apple, Verizon, Yahoo, Silent Circle, Per Damballa, Amazon, SurfRight, JPMorgan, Jafco Ventures, CipherCloud, PerspecSys and San Jose, WhatsApp, Open Whisper Systems, Geeksphone, WhisperSystems, Cyberoam Technologies, ForeScout Technologies, Stonesoft Oyj, KoolSpan and LiveOffice.

 

Chapter: 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segmentation
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

Chapter: 3 MARKET OVERVIEW

3.1 Market definition and scope

3.1.1 Encryption overview

3.2 Encryption software

3.2.1 Drivers

3.2.1.1 Increased compliance regulations
3.2.1.2 Growing number and complexity of number of data breaches
3.2.1.3 Snowden Revelations
3.2.1.4 Increased adoption of cloud and virtualization
3.2.1.5 Increased Mobility

3.2.2 Challenges

3.2.2.1 Management of Encryption Keys: Increased Costs and Complexity
3.2.2.2 Lack of awareness and education
3.2.2.3 Regulatory restrictions on crypto-software

3.2.3 Trends

3.2.3.1 Increasing deployment of enterprise wide encryption strategy
3.2.3.2 Increasing demand for Cloud data encryption

3.3 Key findings

3.3.1 Top factors impacting the market
3.3.2 Top winning strategies
3.3.3 Top investment pockets

3.4 Porters five force analysis

3.4.1 Bargaining power of supplier
3.4.2 Bargaining power of buyer
3.4.3 Threat of substitute
3.4.4 Threat of new entrants
3.4.5 Competition within the industry

3.5 Market share analysis, 2014

Chapter: 4 WORLD ENCRYPTION SOFTWARE MARKET BY USAGE

4.1 Introduction
4.2 Data at rest encryption software market

4.2.1 Market size and forecasts by segments
4.2.2 Full disk/whole disk encryption (FDE)

4.2.2.1 Drivers
4.2.2.2 Challenges

4.2.3 File/folder level encryption (FLE) software

4.2.3.1 Drivers
4.2.3.2 Challenges

4.2.4 Market trends
4.2.5 Market size and forecasts by geography

4.2.5.1 North America

4.2.5.1.1 Drivers
4.2.5.1.2 Challenges
4.2.5.1.3 Trends

4.2.5.2 Europe

4.2.5.2.1 Drivers
4.2.5.2.2 Challenges
4.2.5.2.3 Trends

4.2.5.3 APAC

4.2.5.3.1 Drivers
4.2.5.3.2 Challenges

4.2.5.4 LAMEA

4.2.5.4.1 Drivers
4.2.5.4.2 Challenges

4.2.6 Market size and forecasts by Industry verticals

4.2.6.1 Financial services

4.2.6.1.1 Drivers

4.2.6.2 Healthcare

4.2.6.2.1 Drivers

4.2.6.3 Public sector (Government & other security agencies)

4.2.6.3.1 Drivers

4.2.6.4 Others

4.2.6.4.1 Drivers

4.3 Data in transit encryption software market (Email Encryption)

4.3.1 Drivers
4.3.2 Challenges
4.3.4 Market size and forecasts by Geography
4.3.5 Market size and forecasts by Industry Verticals
4.3.6 Long-term opportunistic Markets for Data in Transit Encryption Software

4.3.3.1 Drivers
4.3.3.2 Challenges
4.3.3.3 Solutions provided for encryption

4.3.3.3.1 VoIP
4.3.3.3.2 Drivers
4.3.3.3.3 Challenges

Chapter: 5 COMPANY PROFILES AND ANALYSIS

5.1 Symantec Corporation

5.1.1 Company overview
5.1.2 Business performance
5.1.3 Strategic moves and developments

5.1.3.1 Organic growth strategies: organizational restructuring & product launches
5.1.3.2 Inorganic growth strategies: Partnerships and Acquisitions

5.1.4 SWOT analysis & strategic conclusions of Symantec Corporation

5.2 Sophos Holdings Ltd.

5.2.1 Company overview
5.2.2 Business performance
5.2.3 Strategic moves and developments

5.2.3.1 Organic growth strategies: Product Launches
5.2.3.2 Inorganic growth Strategies: Partnerships and acquisitions

5.2.4 SWOT analysis & strategic conclusions of Sophos Ltd.

5.3 McAfee

5.3.1 Company overview
5.3.2 Business performance
5.3.3 Strategic moves and developments

5.3.3.1 Organic growth strategies: Product Launches
5.3.3.2 Inorganic growth strategies: Partnerships and Acquisitions

5.3.4 SWOT analysis & strategic conclusions of McAfee

5.4 Check Point Software Technologies

5.4.1 Company overview
5.4.2 Business performance
5.4.3 Strategic moves and developments

5.4.3.1 Organic growth strategies: Product Launches
5.4.3.2 Inorganic growth strategies: Partnerships and acquisitions

5.4.4 SWOT analysis & strategic conclusions of Checkpoint

5.5 Proofpoint

5.5.1 Company overview
5.5.2 Business performance
5.5.3 Strategic moves and developments

5.5.3.1 Organic growth strategies: product launches
5.5.3.2 Inorganic strategies: partnerships and acquisitions

5.5.4 SWOT analysis & strategic conclusions of Proofpoint

5.6 Trend Micro

5.6.1 Company overview
5.6.2 Business performance
5.6.3 Strategic moves and developments

5.6.3.1 Organic growth strategies: organizational restructuring and product launches
5.6.3.2 Inorganic growth strategies: acquisitions and partnerships

5.6.4 SWOT analysis & strategic conclusions of Trend Micro

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP WINNING STRATEGIES IN ENCRYPTION SOFTWARE MARKET
FIG. 3 TOP INVESTMENT POCKETS
FIG. 4 PORTERS FIVE FORCE ANALYSIS
FIG. 5 MARKET SHARE ANALYSIS, 2014
FIG. 6 WORLD ENCRYTION SOFTWARE MARKET BY VALUE, 2014 - 2021 ($MILLION)
FIG. 7 MARKET SHARE ANALYSIS OF THE ENCRYPTON SOFTWARE MARKET SIZE BY INDUSTRY VERTICAL, 2014 & 2021
FIG. 8 MARKET SHARE ANALYSIS OF THE ENCRYPTON SOFTWARE MARKET SIZE BY INDUSTRY VERTICAL, 2014 & 2021
FIG. 9 MARKET SHARE ANALYSIS OF THE ENCRYPTON SOFTWARE MARKET SIZE BY USAGE, 2014 & 2021
FIG. 10 WORLD DATA-AT-REST ENCRYTION SOFTWARE MARKET BY VALUE, 2014 & 2021 ($MILLION)
FIG. 11 MARKET SHARE ANALYSIS OF DATA-AT-REST ENCRYPTON SOFTWARE MARKET SIZE BY USAGE, 2014 & 2021
FIG. 12 WORLD FDE ENCRYPTION SOFTWARE MARKET BY VALUE, 2014 - 2021 ($MILLION)
FIG. 13 WORLD FLE ENCRYPTION SOFTWARE MARKET BY VALUE, 2014 - 2021 ($MILLION)
FIG. 14 REVENUE GENERATED BY SYMANTEC CORPORATION, 2013 - 2015 ($MILLION)
FIG. 15 REVENUE GENERATED BY SYMANTEC CORPORATION BY OPERATING SEGMENT, 2014(%)
FIG. 16 REVENUE GENERATED BY SYMANTEC CORPORATION BY GEOGRAPHY, 2014(%)
FIG. 17 SWOT ANALYSIS OF SYMANTEC CORPORATION
FIG. 18 REVENUE GENERATED BY SOPHOS HOLDING LTD., 2012 - 2014 ($MILLION)
FIG. 19 REVENUE GENERATED BY SOPHOS HOLDINGS LTD. BY GEOGRAPHY, 2014(%)
FIG. 20 SWOT ANALYSIS OF SOPHOS LTD.
FIG. 21 REVENUE GENERATED BY INTELS SSG (MCAFEE) SEGMENT, 2012 - 2014 ($MILLION)
FIG. 22 SWOT ANALYSIS OF MCAFEE
FIG. 23 REVENUE GENERATED BY CHECK POINT SOFTWARE TECHNOLOGIES, 2012 - 2014 ($MILLION)
FIG. 24 REVENUE GENERATED BY CHECK POINT SOFTWARE TECHNOLOGIES BY GEOGRAPHY, 2013(%)
FIG. 25 SWOT ANALYSIS OF CHECK POINT SOFTWARE
FIG. 26 REVENUE GENERATED BY PROOFPOINT, 2012 - 2014 ($MILLION)
FIG. 27 REVENUE GENERATED BY PROOFPOINT BY BUSINESS SEGMENTS, 2014(%)
FIG. 28 REVENUE GENERATED BY PROOFPOINT BY GEOGRAPHIC AREA, 2013(%)
FIG. 29 SWOT ANALYSIS OF PROOFPOINT
FIG. 30 REVENUE GENERATED BY TREND MICRO, 2012 -2014 ($MILLION)
FIG. 31 SWOT ANALYSIS OF TREND MICRO

List of Tables

TABLE 1 KEY COMPLIANCE STANDARDS AND REGULATIONS
TABLE 2 REGULATIONS IN OTHER KEY ASIAN REGIONS
TABLE 3 MOST RECENT AND SIGNIFICANT DATA BREACHES OF 2014
TABLE 4 TABLE OF ACQUISITIONS BY DOMINANT PLAYERS
TABLE 5 WORLD ENCRYPTION SOFTWARE MARKET BY INDUSTRY VERTICALS, 2014 - 2021 ($MILLION)
TABLE 6 WORLD ENCRYPTION SOFTWARE MARKET BY GEOGRAPHY, 2014 - 2021 ($MILLION)
TABLE 7 WORLD DATA-AT-REST ENCRYPTION SOFTWARE MARKET, BY INDUSTRY VERTICAL, 2014 - 2021 ($MILLION)
TABLE 8 WORLD DATA-AT-REST ENCRYPTION SOFTWARE MARKET, BY GEOGRAPHY, 2014 - 2021 ($MILLION)
TABLE 9 WORLD DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 10 NORTH AMERICA DATA-AT-REST ENCRYPTION MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 11 EUROPE DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 12 APAC DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 13 LAMEA DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 14 WORLD FINANCIAL SERVICES DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 15 WORLD HEALTHCARE SECTOR DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 16 WORLD PUBLIC SECTOR DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 17 WORLD OTHER INDUSTRIES DATA-AT-REST ENCRYPTION SOFTWARE MARKET BY SEGMENTS, 2014 - 2021 ($MILLION)
TABLE 18 WORLD DATA-IN-TRANSIT ENCRYPTION SOFTWARE MARKET BY GEOGRAPHY, 2014 - 2021 ($MILLION)
TABLE 19 WORLD DATA-IN-TRANSIT ENCRYPTION SOFTWARE MARKET BY INDUSTRY VERTICAL, 2014 - 2021 ($MILLION)
TABLE 20 SYMANTEC CORPORATION BUSINESS SNAPSHOT
TABLE 21 SOPHOS HOLDING LTD. BUSINESS SNAPSHOT
TABLE 22 MCAFEE BUSINESS SNAPSHOT
TABLE 23 CHECK POINT BUSIESS SNAPSHOT
TABLE 24 PROOFPOINT BUSINESS SNAPSHOT
TABLE 25 TREND MICRO BUSINESS SNAPSHOT

 

With constant growth in number of data breaches, theft and increased usage of mobile devices, end point security has become one of the top priorities of IT security executives worldwide.

Traditionally, end point security is associated with antivirus/antimalware. However, with increase in complexity of cybercrimes and demanding compliance requirements for the protection and privacy of personally identifiable information, enterprises increasingly deploy a layered defense. The portfolio of end point security solutions being adopted by enterprises comprises of a bundle of different solutions such as antimalware, device and media control, data leak protection, with encryption being one of the key solutions.

The increase in government as well as state regulations on data privacy and compliance requires the enterprises to tighten their data security measures. With the growth in number of stringent regulations, the organizations need effective data security technologies to abide by the applicable laws and ensure that sensitive data or the personally identifiable data (PII) pertaining to customers, employees, and the company is protected at all times. Encryption is either mandated or cited by such laws at an appropriate data protection method.

In 2016, financial services sector was the highest contributor to the global encryption software market. Whereas, the government segment is expected to witness the fastest growth during the forecast period (2017–2022).

North America generated the highest revenue for the global encryption software market and is expected to continue to be the highest revenue contributor by 2022. Stringent compliance requirements of both federal and sector-specific data protection laws and the increase in incidence of high profile breaches are projected to be two major growth drivers for the encryption software industry in the region.

Symantec Corporation, Sophos Holdings Ltd., McAfee, Check Point Software Technologies, Proofpoint, and Trend Micro are some of the leading market players that occupy a prominent revenue share.

 

 

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