Dublin, March 23, 2018 (GLOBE NEWSWIRE) -- The "Encryption Software Market by Component (Solution and Services), Application, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The encryption software market size is expected to grow from USD 3.87 billion in 2017 to USD 12.96 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.4%.
Stringent regulatory compliances and the increasing concern for data security are expected to be driving the growth of the encryption software market.
The market is expected to be driven by factors, such as the rising concerns of critical data loss in the on-premises environment, risk on cloud environment due to exploitation of big data analytics, and the regulations to increase the adoption of the encryption solutions.
However, the major hindrance faced by the enterprises while adopting the encryption software are believed to be the lack of budget for the adoption of the best-in-class encryption solutions, lack of awareness about encryption, and the performance concerns among enterprises. Cloud encryption application is expected to have the fastest growth rate during the forecast period
The cloud encryption application in the encryption software market is expected to grow at the fastest rate, during the forecast period. The major reason for the high growth rate of the cloud encryption application is said to be the ongoing expansive adoption of cloud among companies across the world.
The increasing usage of mobile technology has enhanced the adoption of encryption solutions and services in the financial organizations. The financial sector uses encryption solutions to control and secure the sensitive data of customers and protect the data from the internal and external risks of theft.
Type Of Encryption Algorithms
For more information about this report visit https://www.researchandmarkets.com/research/f3skkt/12_96_bn?w=12
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Software AG