Global Encryption Software Market Is Expected to Reach $2.16 Billion by 2020 - Allied Market Research

According to a new report by Allied Market Research titled, "Global Encryption Software Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global encryption software market is expected to reach $2.16 billion by 2020, registering a CAGR of 14.27% during 2014 - 2020. Software based encryption is gaining prominence as one of the end point security solutions, as it is increasingly being adopted by the organizations worldwide. With data protection and data privacy compliance becoming a high priority, organizations have started viewing encryption as an enabler to achieve compliance and data security and at the same time mitigate the data breach risks associated with the adoption of advanced technologies, particularly cloud services and mobility.

To view the report, visit the website at http://www.alliedmarketresearch.com/encryption-software-market

From the application perspective, encryption is used across all the industries to secure both data-at-rest (data stored in data stored in files/folders and disks); and data-in-transit (email messages travelling over the network). The adoption of software-based encryption for protecting data-at-rest is higher as compared to the adoption of the same for data-in-transit. Data-at-rest encryption software accounts for approx. 93.5% of the total encryption software market by value. For data-at-rest, the two most commonly used encryption software methods include Full Disk Encryption (FDE) and File Level Encryption (FLE), with Full Disk Encryption software being the most widely deployed method for protecting data against theft and ensuring compliance with the data privacy and data breach notification laws. Full Disk Encryption is preferred over the File Level Encryption, primarily due to the two major advantages such as ease of deployment and management and complete security.

Presently, software based encryption enjoys the highest adoption in the Financial Services sector with a...