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Encryption Software Market – Size And Growth Prospects|2024

by rajsingh50901 · November 16, 2018


16 Nov 2018 –聽By 2024 the global Encryption Software Market size is expected to reach $ 8 Wholesale Marvin Williams Jersey ,402.9 million, which is growing at a CAGR of more than 14% from 2016-2024. With the growth in the trends like Internet of Things (IoT) and Bring Your Own Device (BYOD), concerns about data security are on all-time high. These trends have further caused cyber-attacks, thefts Wholesale Marco Belinelli Jersey , data breaches and commercial espionage which will drive the demand for protective software.




Developments in the terms of hardware and software in the fields of mobile technology and their increased penetration are further estimated to fuel the demand over the forecast period. The inclination of firms towards cloud computing, demand for sensitive data protection, high data volume requirements has led to increase in the demand of encryption software.


Verticals such as BFSI and healthcare are required to comply with stringent regulations set by authorities such as the PCI, HIPPA and DSS who have formulated data security solutions which has led to application of security solutions all over the world. Intellectual properties of enterprises and users have become prone to infringement and theft on account of increase in usage of internet and rapid digitization. These risks make companies implement the security solutions. Protection provided to the sensitive data and intellectual properties of enterprises is expected to drive the market over the next few years.


However implementation of such solutions which are fairly expensive can cause challenges in the fields of budgets. Furthermore Wholesale P.J. Hairston Jersey , application of these provisions is considerably time-consuming and complex, though the kind of security and safety provided balance-out the challenges such as time-consumption.


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Due to well-established telecom and IT sector, North America consumed a major share. Generation of huge amounts of data that needs to be protected was the major reason behind this hiked consumption. Furthermore, increased usage of personal computers and the internet are expected to raise the demand of encryption software over the forecast period.


By 2024 Wholesale Miles Plumlee Jersey , the segment that is expected to witness a growth at CAGR of 19% is the cloud computing segment. Data storage being major resource of information for industries such as retail, finance and bank. Cheap Jerseys China Cheap Jerseys Wholesale Cheap Jerseys From China Cheap Wholesale Jerseys Cheap Authentic Jerseys Cheap Jerseys China Wholesale Cheap NCAA Football Jerseys Cheap Wholesale Soccer Jerseys Cheap New NFL Jerseys Cheap New NBA Jerseys