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Data breach and recovery is a costly affair today. Companies have to spend billions of dollars to regain hacked customer data and brand image. The cost of managing data breaches has significantly risen in the last few years. Therefore, to protect brand image and customers? data companies are investing heavily on encryption technologies. Encryption is simple yet a formidable platform to protect the system from external attacks. Encryption offer security of the data right from file to disk to network communications. Encryption has proved to be a fairly effective security mechanism at keeping hackers at bay. In addition to the region wide data privacy laws, industry-wide regulations are also prevalent, most prominent among them would be Payment Card Industry Data Security Standards (PCI DSS), which mandates protection and security of cardholder data. The laws that are in practice are those that cover the sensitive information which is more susceptible to identity theft or fraud.
The obligation to comply such laws has become a major factor that is driving the adoption of Encryption market. While region wide regulations such as the HIPAA in the US continue to be the leading drivers of encryption, the industry-wide standards such as PCI DSS standards, are also driving the market. Based on the Application type, the Encryption Software market is segmented into Disk Encryption, File/Folder Encryption, Database Encryption, Communication Encryption and Cloud Encryption. Based on Organization Size, the market is segmented into Small & Medium Sized Enterprises and Large Enterprises. Based on deployment Type, the market is segmented into cloud based and On-premise. The Verticals highlighted in this report include BFSI, Healthcare, Government & Public Utilities, Telecom, Retail, Aerospace & Defence and Others. Based on Country, North America Encryption Software market is segmented into US, Canada, Mexico and Rest of North America. US remained the dominant Country in the North America Encryption Software market in 2015. Canada and Mexico would witness promising CAGR during the forecast period (2016-2022)
The report covers the analysis of key stake holders of the Encryption Software market. Key companies profiled in the report include Symantec Corporation, Check Point Software Technologies, IBM Corporation, Cisco Systems, Inc., Intel Corporation, HP Enterprise Company, FireEye, Inc., Infineon Technologies AG, AT&T Inc. and Dell Inc. (SonicWall Inc.).