Global Encryption Software Market is expected to reach USD 8.402.9 million by 2024, according to a new study by Grand View Research, Inc. Organization vulnerabilities are on a rise with enterprises working through the disaggregated point solutions and a multitude of management platforms, which is anticipated to drive the encryption software market over the forecast period.
Encryption software enables the protection of confidentiality of the information stored in the database and data in transit as per the compliance and security requirements of any organization. This renders the data unreadable even to the authorized person, thereby enhancing the security of confidential data. Publicized data loss together with new governance and compliance regulations is expected to drive the need for customers to encrypt data. Organizational best practices point towards data encryption as a key solution for data privacy. However, the lack of budget is the key reason cited by organizations for being unable to make extensive investments in encryption solutions and this is presumed to challenge the industry demand.
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Further key findings from the study suggest:
View Research Insight on Encryption Software by Grand View Research: http://www.grandviewresearch.com/research-insights/encryption-software-market-insights-brand-reputation-privacy-concerns-key-drivers
Grand View Research has segmented the global encryption software market on the basis of deployment, application, end-use, and region:
Deployment Outlook (Revenue, USD Million, 2013 – 2024
Application Outlook (Revenue, USD Million, 2013 – 2024)
End-Use Outlook (Revenue, USD Million, 2013 – 2024)
Regional Outlook (Revenue, USD Million, 2013 – 2024)
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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