MarkNtel Advisors analyses the growth rate of the Data Encryption market in the forecast period from 2022 to 2027. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Data Encryption market, helping them make informed decisions.
Market Outlook – 2022-2027:
The Global Data Encryption Market is anticipated to grow at a CAGR of around 18.1% during the forecast period, i.e., 2022-27, says MarkNtel Advisors. The market growth attributes primarily to the mounting incidence of data breaches, cyberattacks, identity thefts, and revenue losses among several organizations globally.
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Key Company Profiles
This report explores recent significant developments in the Data Encryption Market, focusing on the leading companies and their innovative profiles. The major players in the Data Encryption Market, featured in this report, include:
- 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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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the Data Encryption Market to forecast revenues and analyse trends across each of the following sub-markets:
- By Solutions
- Types of Data Encryption
- Data in Rest
- Data in Transit
- Data in Use
- 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
- Types of Data Encryption
Of them all, the BFSI sector is projected to dominate the Global Data Encryption Market with the Largest Share during 2022-27.
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
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.
The other prominent market drivers include:
- Mounting adoption of cloud-based data storage solutions
- Rapid digitalization and outsourcing of databases
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Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
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