Encryption Software Market Segmentation:
Component Segment Analysis
The software segment will have a significant market share during the forecast period, due to rising trend of the Internet of Things (IoT), Bring Your Own Device (BYOD), and Internet of Everything (IoE) among enterprises.
In addition, there has been a rising use of cloud-based encryption software solutions to protect the physical intrusions on the information of corporation assets either by cybercrime groups or any employee. Increasing infringement and theft of huge data stored in the company’s cloud server can lead to financial loss if not protected by encryption software.
Industry Vertical Segment Analysis
The BFSI segment in the encryption software market is anticipated to witness noteworthy growth during the forecast period. The need for data security in the banking, finance, security, and insurance companies is much more compared to other sectors as they withhold confidential and sensitive data of all the customers that cannot be revealed at any cost.
Our in-depth analysis of the market includes the following segments:
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