Data Encryption Market Insight 2022-27 | Industry Detailed analysis and growth prospects for Next 5 Years

Market Overview: Global Data Encryption Market

According to the latest report from MarkNtel Advisors, the Global Data Encryption Market according to which the market is likely to witness a CAGR of around 18.1% during the forecast period, 2022-27. The market research firm is renowned for assessing business performance, product portfolios, operational segments, and developments, providing stakeholders with precise market projections and estimates through a rigorous research process. The report includes a SWOT analysis for ROI feasibility, economic conditions, statistics, and variables supporting strategic market forecasts. Stakeholders receive accurate market insights for informed decision-making.

Key Drivers: Mounting Number of Data Breaches to Drive the Global Data Encryption Market during 2022-27

The burgeoning incidences of public data breaches are the primary factors driving the Global Data Encryption Market through 2027. For instance, In June 2020, the Chartered Professional Accountants of Canada website has witnessed a cyberattack that affected the personal information of more than 329,000 members & stakeholders.

The personal information included names, e-mail IDs, and addresses. However, the credit card numbers and passwords were safe due to encryption. Hence, the rising data breaches across several industry verticals have increased the demand for data encryption solutions that can help businesses store & secure their critical information.

Possible Growth Challenges: Usage of Pirated Data Encryption Solutions Might Hinder Market Growth

Certain drawbacks are restraining the Data Encryption Market growth. In recent years, the use of pirated platforms, i.e., the unauthorized copying of the licensed versions of the encryption software, has increased tremendously, which increases the chances of ransomware attacks on critical business data. Hence, continuing use of such pirated software can hamper the global market growth.

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Our Report on the Data Encryption Market Offers Insights into The Following Segments

Clients seeking to invest in this market must be fully aware of its lucrative segments to leverage maximum gain. Keeping this in mind, our analyst has categorized the market into numerous segments, based on several factors. These segments are usually based on Product or Service Type, Applications, End-Users, and Others, further sub-categorized for extended benefits. Our report covers each sub-segment and also identifies the one that holds the largest share or has dominated the market in the historical period.

-By Solutions

  • Types of Data Encryption

 -By Method

  • Symmetric Encryption
  • Asymmetric Encryption
  • Hashing

-By Deployment

  • On-Premises
  • Cloud

-By Application

  • Disk Encryption
  • Folder Encryption
  • Database Encryption
  • Cloud Encryption
  • Others (End-to-End Encryption, Communication Encryption, etc.)

-By Enterprises

  • Small & Medium-Sized Enterprises (SMEs)
  • Large Enterprises

-By End-User

  • Government Organization
  • BFSI
  • Healthcare
  • Manufacturing
  • Automotive
  • IT & Telecom
  • Aerospace & Defence
  • Energy & Utilities
  • Others

Other than such categorization, our reports also locate the geographical areas that are either dominating the market in terms of size or volume or seem promising for the future. Based on demographics, consumer behavior, market supply and demand, and how the market performed in the past few years, the regional growth of the market among regions such as

-By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia Pacific

Leading Data Encryption Market Players and Their Vision

The report identifies the major players within the market and comprehensively analyses their business approach, patterns, advancements, and factory setup to predict their market presence for the next five years. The data provided after meticulous research has the potential to make even new entrants stand out in the long run. With the right set of data and actionable insights, our research report provides a holistic overview of the market, facilitating investors or stakeholders to put a strong foothold in the Data Encryption market. The major players profiled in the research report, along with their net worth and valuation in USD, are,

  • HP
  • IBM Corporation
  • Microsoft Corporation
  • Symantec Corporation
  • Intel Security
  • Oracle
  • Gemalto
  • Netapp
  • Trend Micro Inc.
  • FireEye Inc.
  • Dell Technologies, Inc.
  • Thales e-Security, Inc.
  • McAfee, Inc.
  • Bitdefender
  • CipherCloud

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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