According to Verified Market Intelligence, the Global Encryption Software Market was valued at USD 3.32 billion in 2016 and is projected to reach USD 30.54 billion by 2025, growing at a CAGR of 27.96% from 2017 to 2025. With growing advancement in technology, cybersecurity risks are also increasing. To overcome that software designers designed an application that can provide end to end encryption which means that the digital information cannot be hacked or accessed by any unauthorized person. Various companies are coming together to develop such encryption software which can prevent the cybercrime threats. These encryption software is based on a platform developed by big data analytics and internet of things (IoT). Increasing risks of cybersecurity threats and growing number of cases of hackers putting down the official sites of various SMEs and larges enterprises is accelerating the global encryption software market as companies are now getting attracted towards end-to-end encrypted tools and applications which can protect their sites and other confidential databases from cybercrimes. Apart from this, high costs of these encryption tools and time to time renewal of these software might hinder the growth of overall growth rate for the global encryption software market.
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Competitive Landscape: The major players in the market are as follows: 1.
Dell Inc
2.
Thales E-Security
3.
Eset
4.
Symantec
5.
IBM Corporation
6.
Sophos
7.
Ciphercloud
8.
Pkware
9.
Mcafee
10.
Gemalto
11.
Trend Micro
12.
Microsoft Corporation