MarkNtel Advisors recently published a detailed industry analysis of the Global Data Encryption Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Data Encryption Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2027

The Data Encryption Market is anticipated to grow at a CAGR of around 18.1% during the forecast period, i.e., 2022-27, says MarkNtel Advisors.

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What are the major Driver the Global Data Encryption Market?

Mounting Number of Data Breaches to Drive the Global Data Encryption Market during 2022-27 - The burgeoning incidences of public data breaches are the primary factors driving the Global Data Encryption Market through 2027. For instance, In June 2020, the Chartered Professional Accountants of Canada website has witnessed a cyberattack that affected the personal information of more than 329,000 members & stakeholders.

The personal information included names, e-mail IDs, and addresses. However, the credit card numbers and passwords were safe due to encryption. Hence, the rising data breaches across several industry verticals have increased the demand for data encryption solutions that can help businesses store & secure their critical information.

The other prominent market drivers include:

• Mounting adoption of cloud-based data storage solutions
• Rapid digitalization and outsourcing of databases

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What segments define the Global Data Encryption market from 2022 to 2027? How do these segments contribute to market dynamics and growth?

•  By Solutions
• Types of Data Encryption
• Data in Rest
• Data in Transit
• Data in Use
•  By Method
• Symmetric Encryption
• Asymmetric Encryption
• Hashing
•  By Deployment
• On-Premises
• Cloud

According to report, Here, the demand for Cloud-based Data Encryption services is expected to register the fastest growth in the coming years, mainly due to its cost-effectiveness, efficient data management, and scalability

•  By Application
• Disk Encryption
• Folder Encryption
• Database Encryption
• Cloud Encryption
• Others (End-to-End Encryption, Communication Encryption, etc.)
• By Enterprises
• Small & Medium-Sized Enterprises (SMEs)
• Large Enterprises
•  By End-User
• Government Organization
• BFSI
• Healthcare
• Manufacturing
• Automotive
• IT & Telecom
• Aerospace & Defence
• Energy & Utilities

According to report, Of them all, the BFSI sector is projected to dominate the Global Data Encryption Market with the Largest Share during 2022-27.

Explore the Complete Global Data Encryption Market Analysis Report –

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Geographical Analysis: Global Data Encryption Market

North America

South America

Europe

The Middle East & Africa

Asia-Pacific

Global Data Encryption Market Share & Competitive Landscape:

The Data Encryption Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Global Data Encryption Market are:

•  HP
•  IBM Corporation
•  Microsoft Corporation
•  Symantec Corporation
•  Intel Security
•  Oracle
•  Gemalto
•  Netapp   Inc.
•  Trend Micro Inc.
•  FireEye Inc.
• Dell Technologies, Inc.
• Thales e-Security, Inc.
• McAfee, Inc.
• Bitdefender
• CipherCloud

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Questions Addressed in this Study

1.What factors are driving the Global Data Encryption Market growth?

2.How is the Global Data Encryption Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Global Data Encryption Market?

4.What is the current size of the Global Data Encryption Market, and how is it projected to change in the future?

6.What is the future outlook for the Global Data Encryption Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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