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Cloud Encryption Software Market Share

Report ID: GMI7225
Published Date: Jul 2024
Report Format: PDF

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Cloud Encryption Software Market Share

Companies within the cloud encryption software industry are proactively engaging in strategic endeavors to strengthen their market presence. These initiatives encompass the adoption of cutting-edge AI and cloud technologies, forging crucial partnerships, diversifying their service portfolios, and reinforcing data security measures. The primary objective is to effectively meet the evolving needs of clients while ensuring compliance with dynamic regulatory requirements.

Cloud Encryption Software Market Companies

The major players operating in the cloud encryption software industry are:

Check Point Software Technologies Ltd.
Dell Technologies Inc.
Hewlett Packard Enterprise
Intel Corp.
Proofpoint Inc.
Sophos Ltd.
Symantec (Broadcom)
Thales Group
Trend Micro Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of cloud encryption software reached USD 4.9 billion in 2023 and will witness 23.3% CAGR between 2024 and 2032, led by the increasing adoption of cloud services across various industries, heightened awareness of data security, and stringent regulatory compliance requirements.

The BFSI segment captured 26% of the cloud encryption software industry share in 2023, primarily due to the critical need for robust data security measures, the increasing digitization of financial services, along with stringent regulatory compliance requirements.

North America market captured 46% share in 2023, propelled by advanced technological infrastructure, high adoption of cloud services, and stringent data protection regulations.

Some of the key industry players are Check Point Software Technologies Ltd., Dell Technologies Inc., Hewlett Packard Enterprise, Intel Corp., Proofpoint Inc., Sophos Ltd., Symantec (Broadcom), Thales Group, and Trend Micro Inc., among others.