How Increasing Incidence of Data Breaches are leading to the mounting need for Data Encryption Services?

Data Encryption helps secure data and maintain its confidentiality. It involves converting plain text into encoded information, known as ciphertext. This encoded information can only be accessed and read by the authorized individual. Data Encryption can be used while storing or transmitting the data.

Besides the clear benefits of data encryption, it also helps ensure data integrity, protects data from undocumented modification, and reduces the risk of accessing data from unauthorized sources. The proliferation of the internet & mobile device usage, coupled with the rising value of the data, is making it more vulnerable to malicious attacks, thereby driving the data encryption industry.

In addition to this, the rising need for businesses to meet data protection regulations requirements, including using encryption, is another crucial aspect infusing the demand for data encryption services worldwide. Based on these aspects, a recent research study has indicated that the Global Data Encryption Market is expecting around 18.1% CAGR during 2022-27. The leading industry players include HP, IBM Corporation, Microsoft Corporation, Symantec Corporation, Intel Security, Oracle, Gemalto, Netapp Inc., Trend Micro Inc., FireEye Inc., & Dell Technologies, Inc.

Get a free sample report: https://www.marknteladvisors.com/query/request-sample/data-encryption-market.html

The outbreak of the COVID-19 pandemic has positively impacted the Global Data Encryption Market. The rising trend of work from home boosted the amount of data generated, stored, and transferred online. Therefore, the increase in the data produced resulted in surging the threat of data breach, which, in turn, propelled the need for data encryption platforms.

Based on the End-User, the market bifurcates into Government Organization, BFSI, Healthcare, Manufacturing, Automotive, IT & Telecom, Aerospace & Defense, and Energy & Utilities. Among these segments, the BFSI segment is expected to attain the largest share of the Data Encryption Market in the forecast period. The demand for Data Encryption is increasing significantly due to the rapid digitization of banks and financial firms. The BFSI sector is responsible for storing crucial information, including financial information and contact details of their customers. Hence, the threat of cyberattack is very high for this sector as misuse of any data can lead to cause huge losses to banks and financial firms.

The Database Encryption market is expected to witness robust growth and offer many profitable opportunities for the industry players. The mounting number of businesses and data generated by the organizations are propelling the demand for data encryption platforms to secure critical information and reduce the threat of theft or being hacked. Hence, based on the aspects cited above, the Global Data Encryption Market is set to grow significantly in the coming years.

Comments

Post a Comment

Popular posts from this blog

Rising Demand for Energy Efficient Glass in the Construction Industries fuels the Growth of the Global Energy Efficient Glass Market

Energy-Efficient Glass is the low-emissivity coated glass beneficial for preventing heat exchange through the glass surface, making it highly thermally insulating, thereby enhancing the energy efficiency of the building and results in cost-saving energy bills.   Since the previous few years, the global glass industry is astronomically growing due to the gradual shift of consumers toward energy-efficient glass technologies. The demand for energy-efficient glasses is surging rapidly in the market and shall continue to increase over the forthcoming years.   Further, the demand for energy-efficient glass products in the developed countries like the US, UK, Germany, and France is substantially increasing. In the developing countries, especially in China, India, and Brazil, a rapidly expanding construction & transportation industry due to high population growth is crucially boosting the energy-efficient glass market growth. Besides, mounting urbanization and snowba...
Read more

Global Secure Access Service Edge Market Size, Future Trends, Growth Challenges and Demand Forecast to 2027

Image
The  Global Secure Access Service Edge Market is expecting to grow around  31.2%  CAGR during  2022-27, says MarkNtel Advisors . The research report on the Global Secure Access Service Edge Market provides an extensive study on the market size, prominent shareholders, growth projection, market segments, competitive landscape, value chain analysis, historical data, and strategic performance indicators, among other information. Furthermore, Global Secure Access Service Edge Market report comprise growth drivers and challenges, major developments by market leaders and their research & development activities, and revenue forecasts, among other information. Get a sample copy of the market report: https://www.marknteladvisors.com/query/request-sample/secure-access-service-edge-market.html   Analysis of Covid-19 Impact on the Global Secure Access Service Edge Market The Covid-19 pandemic in 2020 caused a massive deterioration to the global economy, w...
Read more

Global Artificial Intelligence (AI) in 3D Printing Market Size, Growth and Trends Forecast, 2027- MarkNtel Advisors

The research report on the Global Artificial Intelligence (AI) in 3D Printing Market   provides a comprehensive analysis of the industry size, share, growth projection, segments, key competitors, recent developments, value chain optimization, historical data, key performance indicators, and strategic market growth analysis.   Integration of AI in 3D Printing has helped with reduced manpower & increased automation. There is an increase in demand for AI integration 3D printing which has eventually resulted the  Global Artificial Intelligence in 3D Printing Market  to grow at a considerable CAGR during the forecast period, i.e., 2022-2027. The research report also cites the prominent market drivers, growth opportunities, potential challenges, and key trends.     Get a sample copy of the report:  https://www.marknteladvisors.com/query/request-sample/artificial-intelligence-3d-printing-market.html     Unique Features of the Research ...
Read more