Banking Encryption Software Market by Component (Software and Service) Deployment Model (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Sized Enterprises), and Function (Disk Encryption, Communication Encryption, File/Folder Encryption, and Cloud Encryption): Global Opportunity Analysis and Industry Forecast, 2021–2030
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Banking Encryption Software Market by Component Deployment Model, Enterprise Size, and Function : Global Opportunity Analysis and Industry Forecast, 2021–2030" - https://www.reportlinker.com/p06126676/?utm_source=GNW
Banking encryption software is an information protection technology which helps financial institution to protect their client’s information from cyber-attacks. The banking encryption software provide high security features while transferring payment from one account to another, which increases the demand for banking encryption software among its users. Furthermore, encryption software delivers numerous benefits to banks, which include optimizing database performance of the organization, delivering real-time updates on fraudulent activities, and increasing security to user’s financial details.
Increase in use of digital payment technology among the people and rise in cyberattacks among the fintech institutes across globe boost the growth of the global banking encryption software market. In addition, rise in demand of data security technology among the banks and financial institutions positively impacts the growth of the market. However, factors, such as implementation issues and lack of awareness toward encryption software among the banks of developing nations, is expected to hamper the market growth. On the contrary, penetration of AI based banking software across the developing nations of Asia-Pacific and LAMEA regions is expected to offer remunerative opportunities for the expansion of the market during the forecast period.
The banking encryption software market is segmented into component, deployment model, enterprise size, function, and region. In terms of component, the market is fragmented into software and service. Depending on deployment model, it is bifurcated into on-premise and cloud. On the basis of enterprise size, it is categorized into large enterprises and small and medium sized enterprises. According to function, it is classified into disk encryption, communication encryption, file / folder encryption and cloud encryption. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global banking encryption software industry include Broadcom, ESET, IBM Corporation, Intel Corporation, McAfee, LLC, Microsoft Corporation, Sophos Ltd., Thales Group, Trend Micro Incorporated and WinMagic. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the banking encryption software industry.
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of global banking encryption software market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the market from 2021 to 2027 is provided to determine the market potential.
Key Market Segments
By Deployment Model
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises
By Industry Vertical
• Disk Encryption
• Communication Encryption
• File / Folder Encryption
• Cloud Encryption
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
KEY MARKET PLAYERS
• IBM Corporation
• Intel Corporation
• McAfee, LLC
• Microsoft Corporation
• Sophos Ltd.
• Thales Group
• Trend Micro Incorporated
Read the full report: https://www.reportlinker.com/p06126676/?utm_source=GNW
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