What are the major drivers of the Encryption Software market?
Best encryption software provides a broad way to mitigate the risks of accidental and deliberate data breaches. Encryption is a process through which data is encoded so that it is unreachable to unsanctioned users. It helps protect sensitive information and improves the security of communication between 2 parties. The global encryption software market size is likely to reach USD 20.1 billion by 2025 from USD 9.8 billion in 2020 to, at a CAGR of 15.5%. Extensive digital transformation has augmented the demand for data security and confidentiality in organizations. IBM Security Guardium Data Encryption, IBM Security Key Lifecycle Manager.With the help of the best encryption software, enterprises can efficiently protect the data stored in storage devices, networks, applications, databases, and cloud environment from advanced cyberattacks and threats. Symmetric key algorithm makes use of only one key for encryption, whereas the asymmetric key algorithm makes use of a pair of keys comprising public and private keys. Confidentiality, integrity, and non-repudiation of data can be achieved by encryption supported with efficient key management. Encryption is used to protect the data at rest, in transit, or in process, in on-premises and cloud environments. Encryption is the procedure of transforming plain text to code text using an encryption algorithm, which may be symmetric or asymmetric. The data encrypted can be decrypted only with an encryption key.