Global Encryption Software Market to Grow at 13.1% During 2025-2033, Impelled by the Increasing Incidences of Data Theft

December 26, 2024 | Technology & Media

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According to the latest report by IMARC Group, titled "Encryption Software Market Report by Component (Software, Services), Deployment Model (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium Enterprises), Function (Disk Encryption, Communication Encryption, File and Folder Encryption, Cloud Encryption), Industry Vertical (BFSI, Aerospace and Defence, IT and Telecom, Media and Entertainment, Government and Public, Retail, Healthcare, and Others), and Region 2025-2033," the global encryption software market reached a value of USD 15.9 Billion in 2024. Encryption software refers to a software application that utilizes data encryption algorithms to protect crucial and confidential data at rest or in transit. It includes the conversion of data from a readable format to an encoded format that can only be read or processed with the use of a decryption key. It is widely used by numerous organizations to protect their data while transferring from one remote location to another. The deployment of these programs aids in enhancing the security of the data from unauthorized users while offering enhanced data protection, maintaining data integrity as well as ensuring security across various devices.

Global Encryption Software Market Trends:

The global market is majorly driven by the increasing incidences of data breaches and theft across the corporate segment. This has impelled numerous organizations to address their rising concerns regarding data safety by deploying encryption software solutions. Additionally, various stringent data privacy compliance regulations across multiple workplaces are also creating a positive outlook for the market. Moreover, the increasing popularity of Bring Your Own Device (BYOD) and the widespread adotion of remote working across the corporate segment have also created a rising need for the deployment of encryption solutions. The market is further driven by the widespread integration of these solutions with the Internet of Things (IoT) and the escalating preference for cloud-based encryption software. Some of the other factors contributing to the market include significant growth in the IT sector, penetration of high-speed internet connectivity and extensive research and development (R&D) activities. Looking forward, the market value is projected to reach USD 47.9 Billion by 2033, expanding at a CAGR of 13.1% during 2025-2033.

Market Summary:

On the basis of the component, the market has been bifurcated into software and services.
Based on the deployment model, the market has been divided into on-premises and cloud-based.
On the basis of the organization size, the market has been classified into large enterprises, and small and medium enterprises.
Based on the function, the market has been segmented into disk encryption, communication encryption, file and folder encryption, and cloud encryption.
On the basis of the industry vertical, the market has been categorized into BFSI, aerospace and defence, IT and telecom, media and entertainment, government and public, retail, healthcare, and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amazon Web Services Inc. (Amazon.com Inc), Check Point Software Technologies Ltd., Cisco System Inc., Fortinet Inc., F-Secure, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Palo Alto Networks Inc. and Trend Micro Incorporated.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Deployment Model, Organization Size, Function, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Amazon Web Services Inc. (Amazon.com Inc), Check Point Software Technologies Ltd., Cisco System Inc., Fortinet Inc., F-Secure, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Palo Alto Networks Inc. and Trend Micro Incorporated
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Encryption Software Market to Grow at 13.1% During 2025-2033, Impelled by the Increasing Incidences of Data Theft

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