Endpoint Encryption Market - Introduction
- Endpoint encryption software is used by companies to protect the stored database and for transmitting data from one endpoint system to another. All the data is stored in encrypted format and cannot be accessed without the right encryption key or authority.
- Endpoint encryption software is mostly applicable in transmitting the data over portable USB, cloud storage platforms, browsers, emails, and network drives. Employees share volumes of valuable information over the internet or in internal networks, which are vulnerable to data security breaches.
- Endpoint encryption software is majorly adopted by healthcare, banking and insurance sectors, and data centers to protect confidential information from unauthorized users. The information pertains to bank accounts, healthcare records, home address, social security numbers, and other confidential information.
- Manufacturing, automobile, transportation & logistics, and other major industries are also increasing the adoption of endpoint encryption software for providing network security solutions for enterprise networks.
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Key Drivers of the Endpoint Encryption Market
- Increasing adoption of encrypted data storage to provide security while transmitting the data through any transmitting media is expected to drive the growth of the endpoint encryption market. Increasing adoption of cloud based services among enterprises is also expected to boost the growth of the endpoint encryption market.
- Companies are investing in cloud storage services to protect data from cyber-attacks, which is expected to create better business opportunities for providers of endpoint encryption software.
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Lack of awareness of the software and low investment on security of endpoint systems in several companies expected to hinder the market
- Lack of awareness of endpoint encryption among small and medium size companies may restrain the growth of the endpoint encryption market.
- Several companies are not investing in security of endpoint systems to prevent unauthorized user login and harmful cyber-attacks, which is also expected to hamper the growth of the endpoint encryption market.
Impact of COVID-19 on the Global Endpoint Encryption Market
- Companies are expanding their geographical presence to capture more market share in Asia Pacific due to increasing impact of COVID-19 on business growth. Most new start-ups and market leading companies are adopting the work from home business model to operate all business operations. In such a scenario, cloud data is an easier platform to access and store all necessary information of the company.
- Companies and cloud data service providers are adopting endpoint encryption solutions or data security to provide security during data transmission. Demand for endpoint control is expected to increase during the forecast period and during lockdown conditions.
North America to Hold Major Share of the Global Endpoint Encryption Market
- North America holds prominent share of the endpoint encryption market due to presence of key network security solution providers and enterprise security solution providers in the region.
- The endpoint encryption market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing adoption of network security solutions among healthcare and IT companies and also increasing investment by major players to provide security solutions and services in these regions.
Key Players Operating in the Global Endpoint Encryption Market
- McAfee LLC
McAfee LLC is a cyber-security company that develops and sells computer security solutions and software to various government agencies, home users, and businesses. It offers products for data protection & encryption, database security, network security, security management, security analytics, and web security, and has approximately 125,000 corporate customers in over 190 countries. The company’s products protect consumers from identity theft, phishing scams, spyware, malicious websites, and other threats that endanger the online experience of users.
- Sophos Ltd.
Sophos Ltd. operates as a subsidiary of Sophos Holdings Ltd. It offers IT security solutions and data protection. The company offers solutions in network protection, web protection, e-mail protection, user protection, cloud security, server protection, and security solutions for mobile devices. Sophos Ltd. offers solutions for applications in various verticals including education, healthcare, government, and BFSI.
Other key players operating in the global endpoint encryption market include International Business Machines Corporation, Dell Technologies Inc., NortonLifeLock Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, and Thales Group.
Global Endpoint Encryption Market: Research Scope
Global Endpoint Encryption Market, by Deployment
- Cloud Based
Global Endpoint Encryption Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Endpoint Encryption Market, by Industry
- Transportation & Logistic
Global Endpoint Encryption Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.