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The global encryption software market was valued at $ 9,434.76 million in 2020, and is projected to reach $42,267.99 million by 2030, growing at a CAGR of 16.5% from 2021 to 2030.<br>
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The global encryption software market was valued at $ 9,434.76 million in 2020, and is projected to reach $42,267.99 million by 2030, growing at a CAGR of 16.5% from 2021 to 2030. Download Sample PDF Encryption software is an application used by organizations to protect their data while sharing it from one remote location to another. The key objective of the encryption software is to improve data security from unauthorized users. In addition, increase in number of organizations across the globe use encryption to address their growing concerns of data safety and data privacy compliance regulations.
Impact of Covid-19 The global encryption software market experienced a favorable shift due to the onset of the COVID-19 pandemic. The sudden surge in the adoption of digital transformation strategies led to a substantial increase in the amount of data stored in the cloud. Organizations, in response to the challenges posed by the pandemic, sought to centrally manage various cloud resources. 1 This shift in focus towards streamlined control mechanisms contributed to the heightened importance of data security. Amid the uncertainties of the COVID-19 era, safeguarding sensitive information became a paramount concern for businesses, thereby driving the demand for encryption software solutions. 2
Segmentation By Region U.S., Canada North America U.K., Germany, France, Spain, Italy, Rest of Europe Europe China, Japan, South Korea, India, Australia, Rest of Asia-Pacific Asia-Pacific LAMEA Latin America, Middle East, Africa
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