PUBLISHER: IMARC | PRODUCT CODE: 1468113
PUBLISHER: IMARC | PRODUCT CODE: 1468113
Banking Encryption Software Market by Component, Deployment Mode, Enterprise Size, Function, and Region 2024-2032
The global banking encryption software market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 10.21% during 2024-2032. The growing utilization of digital payment technologies, increasing number of cyberattack cases, and rising demand for data security and safety among banks and financial institutions represent some of the key factors driving the market.
Banking encryption software is designed to exchange the transaction detail document with the customers confidentially. It comprises various encryptions, such as disk, communication, file, folder, and cloud. It provides high security of transactions, hassle-free services, privacy protection, and real-time notifications. It prevents the leakage of sensitive information and reduces the risks of fraudulent activities, such as hacking and threats. It assists in lowering the risk of losses and enhancing business operations in a cost-effective and efficient manner. It aids in maintaining confidential data, improving data integrity, and increasing consumer trust. Besides this, it is beneficial in streamlining the process and meeting potential compliance and legal requirements. As a result, banking encryption software is widely employed in small and medium-sized enterprises (SMEs) and large-sized enterprises around the world.
Banking Encryption Software Market Trends:
At present, the increasing demand for banking encryption software due to the growing utilization of digital payment technologies, such as credit and debit cards and mobile banking across the globe, represents one of the major factors influencing the market positively. Moreover, the rising employment of banking encryption software among various businesses to generate more valuable insights and better data management is strengthening the growth of the market. Apart from this, the growing adoption of banking encryption software due to the increasing number of cyberattack cases among fintech institutes around the world is offering a positive market outlook. Additionally, the rising adoption of banking encryption software to prevent the misuse of client information is contributing to the growth of the market. Besides this, governing agencies of various countries are encouraging the adoption of banking encryption software by implementing several data privacy laws for the banking sector to protect against thefts, which is offering lucrative growth opportunities to industry investors. In addition, there is a rise in the demand for data security and safety among banks and financial institutions across the globe. In line with this, the increasing adoption of artificial intelligence (AI)-based banking software that assists in enhancing efficiency and effectiveness is bolstering the growth of the market. Furthermore, the rising utilization of cloud-based encryption among businesses that allows easy access to information from remote deposit places while maintaining high security is supporting the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global banking encryption software market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on component, deployment mode, enterprise size, and function.
Component Insights:
Software
Services
The report has provided a detailed breakup and analysis of the banking encryption software market based on the component. This includes software and services. According to the report, software represented the largest segment.
Deployment Mode Insights:
On-premises
Cloud-based
A detailed breakup and analysis of the banking encryption software market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, on-premises accounted for the largest market share.
Enterprise Size Insights:
Large Enterprises
Small and Medium-sized Enterprises
A detailed breakup and analysis of the banking encryption software market based on the enterprise size has also been provided in the report. This includes large enterprises and small and medium-sized enterprises. According to the report, large enterprises accounted for the largest market share.
Function Insights:
Disk Encryption
Communication Encryption
File/Folder Encryption
Cloud Encryption
A detailed breakup and analysis of the banking encryption software market based on the function has also been provided in the report. This includes disk encryption, communication encryption, file or folder encryption, and cloud encryption. According to the report, disk encryption accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for banking encryption software. Some of the factors driving the North America banking encryption software market included the growing demand by private and public banks to safeguard and secure data privacy, rising cyberattacks, favorable government initiatives for data security technologies, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global banking encryption software market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Broadcom Inc., ESET spol. s r.o., International Business Machines Corporation, McAfee, LLC, Sophos Ltd., Thales Group, Trend Micro Inc., WinMagic, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global banking encryption software market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global banking encryption software market?
- What is the impact of each driver, restraint, and opportunity on the global banking encryption software market?
- What are the key regional markets?
- Which countries represent the most attractive banking encryption software market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the banking encryption software market?
- What is the breakup of the market based on the deployment mode?
- Which is the most attractive deployment mode in the banking encryption software market?
- What is the breakup of the market based on the enterprise size?
- Which is the most attractive enterprise size in the banking encryption software market?
- What is the breakup of the market based on the function?
- Which is the most attractive function in the banking encryption software market?
- What is the competitive structure of the global banking encryption software market?
- Who are the key players/companies in the global banking encryption software market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Banking Encryption Software Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Software
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Services
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Deployment Mode
- 7.1 On-premises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cloud-based
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Enterprise Size
- 8.1 Large Enterprises
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Small and Medium-sized Enterprises
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Function
- 9.1 Disk Encryption
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Communication Encryption
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 File/Folder Encryption
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Cloud Encryption
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 Drivers, Restraints, and Opportunities
- 11.1 Overview
- 11.2 Drivers
- 11.3 Restraints
- 11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Broadcom Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 ESET spol. s r.o.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 International Business Machines Corporation
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 McAfee, LLC
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Sophos Ltd.
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Thales Group
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 Trend Micro Inc.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 WinMagic
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.1 Broadcom Inc.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Banking Encryption Software Market: Major Drivers and Challenges
- Figure 2: Global: Banking Encryption Software Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Banking Encryption Software Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Banking Encryption Software Market: Breakup by Component (in %), 2023
- Figure 5: Global: Banking Encryption Software Market: Breakup by Deployment Mode (in %), 2023
- Figure 6: Global: Banking Encryption Software Market: Breakup by Enterprise Size (in %), 2023
- Figure 7: Global: Banking Encryption Software Market: Breakup by Function (in %), 2023
- Figure 8: Global: Banking Encryption Software Market: Breakup by Region (in %), 2023
- Figure 9: Global: Banking Encryption Software (Software) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Banking Encryption Software (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Banking Encryption Software (Services) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Banking Encryption Software (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Banking Encryption Software (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Banking Encryption Software (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Banking Encryption Software (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Banking Encryption Software (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Banking Encryption Software (Large Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Banking Encryption Software (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Banking Encryption Software (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Banking Encryption Software (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Banking Encryption Software (Disk Encryption) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Banking Encryption Software (Disk Encryption) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Banking Encryption Software (Communication Encryption) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Banking Encryption Software (Communication Encryption) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Global: Banking Encryption Software (File/Folder Encryption) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Global: Banking Encryption Software (File/Folder Encryption) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Global: Banking Encryption Software (Cloud Encryption) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Global: Banking Encryption Software (Cloud Encryption) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: North America: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: North America: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: United States: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: United States: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Canada: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Canada: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Asia-Pacific: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Asia-Pacific: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: China: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: China: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Japan: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Japan: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: India: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: India: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: South Korea: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: South Korea: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Australia: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Australia: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Indonesia: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Indonesia: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Others: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Others: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Europe: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Europe: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Germany: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Germany: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: France: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: France: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: United Kingdom: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: United Kingdom: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Italy: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Italy: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Spain: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Spain: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Russia: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Russia: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Others: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Others: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Latin America: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Latin America: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Brazil: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Brazil: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Mexico: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Mexico: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Others: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 74: Others: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Middle East and Africa: Banking Encryption Software Market: Sales Value (in Million US$), 2018 & 2023
- Figure 76: Middle East and Africa: Banking Encryption Software Market: Breakup by Country (in %), 2023
- Figure 77: Middle East and Africa: Banking Encryption Software Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Global: Banking Encryption Software Industry: Drivers, Restraints, and Opportunities
- Figure 79: Global: Banking Encryption Software Industry: Value Chain Analysis
- Figure 80: Global: Banking Encryption Software Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Banking Encryption Software Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Banking Encryption Software Market Forecast: Breakup by Component (in Million US$), 2024-2032
- Table 3: Global: Banking Encryption Software Market Forecast: Breakup by Deployment Mode (in Million US$), 2024-2032
- Table 4: Global: Banking Encryption Software Market Forecast: Breakup by Enterprise Size (in Million US$), 2024-2032
- Table 5: Global: Banking Encryption Software Market Forecast: Breakup by Function (in Million US$), 2024-2032
- Table 6: Global: Banking Encryption Software Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Global: Banking Encryption Software Market: Competitive Structure
- Table 8: Global: Banking Encryption Software Market: Key Players
