Encryption Software Market – Size And Growth Prospects|2024 by rajsingh50901 · November 16 Clayton Thorson Eagles Jersey , 2018
rease in adoption of cloud computing, the need to protect the data has also escalated. Additionally Andre Dillard Eagles Jersey , the propagation of expert data analytics has caused raise in the rate of internet usage leading to increased use of cloud encryption software. The regulated standards are set owing to the increase in the rate of growing cyber-attacks and mobile-theft.
“BFSI dominated the application segment”
BFSI segment in 2015 captured considerable market share consuming over $600 million and is expected to grow at CAGR of 15 % by 2024. Sudden spike in the number of cyber-attacks and the ever changing nature of the industry has resulted into increase in demand of security of financial data that is sensitive from theft and infringements by lowering risks and maximizing returns. The growth in adoption of cloud technologies in banking sector is expected to drive the market for next few years.
Traditional data transfer techniques such as DVDs, email and other data transfer techniques are adopted by banks for transferring the data which are highly risky keeping in mind the level at which the infringers operate. Increase in demand of such software is expected due to implementation of such techniques. Furthermore, rise in dependency on the online method of banking and the need to protect the transactions will fuel the need of encryption software over the forecast period.
“Asia Pacific to experience robust growth; China exhibits growth potential”
In 2015, the Asia-Pacific region accounted for $500 million which is expected to increase due to organizations shifting to cloud storage facilities due to their incapacity to develop data storage infrastructures DeSean Jackson Eagles Jersey , which will surely increase the risks of losses of data, infringements and thefts escalating the demand. Countries like China and India have tremendous rate of development manufacturing sector as well as IT and telecom sector which will drive the market in the forecast period.
“The encryption software market fragmented in nature”
The key players in the market are firms like Microsoft Corporation, Cisco Systems, Symantec Dallas Goedert Eagles Jersey , EMC Corporation, Bloombase, Sophos, IBM Corporation Carson Wentz Eagles Jersey , Intel Security and Trend Micro. These firms offer solutions to both large scale businesses and small & medium scale businesses at the same time focusing on the research and development of newer techniques of cryptography to provide optimum solutions to the clients.
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02.11.2019 06:29
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