Global Disk Encryption Market Segmentation, By Organization Size (Large Enterprises, SMEs), Industry Verticals (BFSI, Telecom and IT, Government and Public Utilities, Healthcare, Retail, Aerospace and Defense, Others) – Industry Trends and Forecast to 2031
Disk Encryption Market Analysis
Disk encryption is computer software used for security purpose to cover the sequestration of a data stored on computer media by using fragment encryption. It facilitates the encryption of the content of a data object, train, and network package or operation, so that it's secured and un-viewable by unapproved druggies. Encryption software encodes data or lines by working with one or further encryption algorithms. The role of disk encryption is to incorporate the modern technologies such as big data analytics, data intelligence and artificial intelligence into improving the organizational efficiency and effectiveness. Rising number of small and medium scale end users are increasingly understanding the importance of disk encryption.
Disk Encryption Market Size
Global disk encryption market size was valued at USD 13.42 billion in 2023 and is projected to reach USD 30.84 billion by 2031, with a CAGR of 10.96% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Disk Encryption Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Players
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IBM (US), Microsoft (US)Broadcom. (US),Sophos Ltd. (UK),Thales (France),McAfee (US),Trend Micro Incorporated. (Japan),Dell (US),Check Point Software Technologies Ltd. (Israel),Micro Focus (UK)PKWare (US),ESET (Slovakia),Secomba GmbH (Germany),WinMagic. (US),Cryptomathic .(Denmark),Bitdefender (Romania) ,Cisco Systems, Inc. (US),HPE (US),Bitglass (US) ,Baffle (US),Fortanix (US),Enveil (US),Nord Security .(Panama),PreVeil. (US)
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Market Opportunities
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Disk Encryption Market Definition
Disk encryption can be defined as a method of converting sensitive data into inaccessible drives that cannot be accessed without proper authorizations. This process of encryption requires installation of a software or hardware on the disk that requires the encryption service.
Disk Encryption Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Stringent regulatory standards and data privacy compliances
The majority of today's standards and compliance rules are primarily concerned with the protection of private data at rest, during transactions and while it traverses network connections. The utilisation of proper encryption technology improves overall security while being compliant with data security and privacy requirements. Moreover, there are various government mandates and regulatory compliances on regional level that basically push organizations to deploy encryption software and services. As a result, various stringent regulatory standards and data privacy compliances are estimated to carve a way for the market growth over the forecasted period, which boosts the market demand.
- Increased number of industries globally to induce greater demand and supply in emerging nations
Growing number of small and medium scale enterprises all around the globe is one of the major factors fostering the growth of the market. In other words, increased number of banking, financial services, and insurance (BFSI), government and public sector, healthcare and life sciences, manufacturing, retail and e-commerce, telecommunication, and IT industries, is directly influencing the growth rate of the market.
Opportunities:
- Surge in Bring your own device (BYOD) usage and IoT trends
The growing trend of BYOD programs at work and the increased penetration of mobile and IoT bias across enterprises have stoked the threat of data loss among associations. This has, in turn, made enforcing encryption software imperative for secure data transmission. The use of BYOD has redounded in issues related to data loss and increased unauthorized access to critical data, which encourages the demand for encryption software. The rising demand for encryption software in enterprises is enhancing the encryption software request profit. Organizations are largely embracing social media, IoT, and the internet of everything (IoE) – this has redounded in further data being generated and recaptured through mobile bias. The growing incidents of BYOD device thefts and physical intrusion on enterprise means have increased the uptake of on- demesne encryption software. Encryption software ensures data-at-rest is shielded against vicious attacks. This is estimated to fuel the demand for both on- demesne and pall- grounded encryption software deployment over the coming many times
Restrictions/ challenges:
- High costs of encryption software solutions
The major challenge faced by companies while espousing encryption software results is the high cost associated with planting these results. Encryption software results help associations and druggies reduce the threat of data loss. For illustration, the average yearly charge of a dispatch encryption result is anything between USD 4 and USD 10 per account, depending on the conditions. The result's price scales up as per the size of the train to be translated.
Free platforms available on the internet don't retain high capabilities to guard sensitive data efficiently. The encryption software result proves to be a expensive result for SMEs due to budget restrictions. Also, the conservation and timely upgradation costs add to the overall increase in an association’s charges. The software licensing costs charged per stoner; software conservation cost; and other associated soft costs, similar as conservation of the encryption software and specialized support for druggies; are precious results for low- budget enterprises to emplace. Also, these encryption results need to be compatible with being IT systems. Therefore, all these factors hamper the relinquishment of encryption software.
- Lack of skilled workforce among enterprises
The growing trouble to on- demesne and cloud data has increased IT spending. The incapability of in- house enterprise security brigades to guard on- demesne data has forced enterprises to move their data to the cloud. The lack of encryption knowledge may lead to crimes, performing in a huge loss for enterprises. The biggest challenge associations face moment is the lack of encryption chops, which is hampering their capability to meet evolving IT security requirements. Stoner miscalculations and lack of mindfulness has forced enterprises to concentrate on pool training and education. Security officers play an important part by icing that enterprises are well- equipped with stylish-in- class data protection results and workers don't fall prey to adversaries, similar as malware, ransomware, and APTs.
This disk encryption market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the disk encryption market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Disk Encryption Market
Adopting rapid-fire digital metamorphosis strategies due to COVID-19 has incontinently increased the quantum of data stored in the shadows, followed by other issues similar as performance, vacuity, security, challenging encryption software results and services. COVID-19 has increased the focus of associations on centrally managing multiple pall coffers. This is adding the significance of data security. Adding use of byod trend and presence of nonsupervisory obedience’s to drive growth of encryption software request during the epidemic.
With outside companies still working in work from home and hybrid work models, the demand for encryption software for security assessments is further anticipated to increase for trouble intelligence across the globe.
Disk Encryption Market Scope
The disk encryption market is segmented on the basis of organization size, industry verticals. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Organization size
- Large Enterprises
- Small and Medium-Sized Enterprises
Industry Verticals
- BFSI
- Telecom and IT
- Government and Public Utilities
- Healthcare
- Retail
- Aerospace and Defense
- Others
Disk Encryption Market Regional Analysis
The disk encryption market is analysed and market size insights and trends are provided by country, component, organisation size and industry verticals as referenced above.
The countries covered in the disk encryption market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market owing to the prevalence of advanced IT infrastructure and quick adoption of modern technologies in developed countries comparing to the developing nations. Asia-Pacific will continue to undergo substantial gains during the forecast period and will score the highest growth rate. This is because of the increasing rate of digitization of the economies, rising application by the BFSI industry and surging investments towards the development of IT infrastructure in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Disk Encryption Market Share
The disk encryption market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to disk encryption market.
Disk Encryption Market Leaders Operating in the Market Are:
- IBM (US)
- Microsoft (US)
- Broadcom. (US)
- Sophos Ltd. (UK)
- Thales (France)
- McAfee (US)
- Trend Micro Incorporated. (Japan)
- Dell (US)
- Check Point Software Technologies Ltd. (Israel)
- Micro Focus (UK)
- PKWare (US)
- ESET (Slovakia)
- Secomba GmbH (Germany)
- WinMagic. (US)
- Cryptomathic .(Denmark)
- Bitdefender (Romania)
- Cisco Systems, Inc. (US)
- HPE (US)
- Bitglass (US)
- Baffle (US)
- Fortanix (US)
- Enveil (US)
- Nord Security .(Panama)
- PreVeil. (US)
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