Product Code: GVR-4-68039-964-0
Banking Encryption Software Market Growth & Trends:
The global banking encryption software market size is expected to reach USD 5.03 billion by 2030, expanding at a CAGR of 13.0% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing need for modern security solutions worldwide is anticipated to drive the growth of the industry. In addition, the rising incidences of cyber-attacks also bode well for growth.
Banking encryption software facilitates the confidential exchange of vital data by encrypting the data at the sender's end in a form not readable without a proper authentication key, which is usually in the form of a password. The receiver can use the authentication key to decrypt the data and read it. The strong emphasis banks and other financial institutions are putting on securing data transactions is driving the adoption of banking encryption software.
The growing partnerships among the encryption software providers are expected to drive market growth. For instance, In April 2021, Google Cloud and Broadcom collaborated. This collaboration increased the integration of cloud services into Broadcom's primary software franchises. In this partnership, Broadcom was able to make enterprise operations software and its security suite available on Google Cloud, enabling organizations to encrypt and decrypt data at the column level.
The COVID-19 pandemic impacted the banking encryption software market growth positively. Due to the pandemic, the transfer of data increased as offices and businesses adopted the work-from-home model. Remote applications got overloaded with crucial data, and cloud deployment gained more popularity. Due to the increase in online data transfer, the need for encryption software that facilitated secure data transfer increased.
Banking Encryption Software Market Report Highlights:
- The software segment is expected to dominate the segment over the forecast period. This is due to its offered benefits such as security and privacy protection to the financial institutes
- The cloud segment is anticipated to witness the fastest growth over the projection period. The growth of the segment can be attributed to the inexpensive deployment and customization options
- The large enterprise segment dominated the market in 2021. Large organizations are adopting encryption solutions to meet the changing security needs owing to the rising incidences of cybercrimes
- The cloud encryption segment is anticipated to witness the fastest growth because of its capability to facilitate a cost-effective and scalable encryption model
- The Asia Pacific regional market is expected to witness the fastest growth over the projection period due to an increase in demand for encryption software among banks in developing countries in the Asia-Pacific, including China and India, to safeguard and ensure the privacy of data
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Banking Encryption Software Market - Industry Snapshot & Key Buying Criteria, 2017 - 2030
- 2.2 Global Banking Encryption Software Market, 2017 - 2030
- 2.2.1 Global banking encryption software market, by region, 2017 - 2030
- 2.2.2 Global banking encryption software, by component, 2017 - 2030
- 2.2.3 Global banking encryption software, by deployment, 2017 - 2030
- 2.2.4 Global banking encryption software, by enterprise size, 2017 - 2030
- 2.2.5 Global banking encryption software, by function, 2017 - 2030
Chapter 3 Banking Encryption Software Industry Outlook
- 3.1 Market Segmentation and Scope
- 3.2 Market Size and Growth Prospects
- 3.3 Banking Encryption Software Market - Value Chain Analysis
- 3.4 Banking Encryption Software Market - Market Dynamics
- 3.4.1 Market driver analysis
- 3.4.1.1 Increasing demand for security solutions among banks
- 3.4.1.2 Growing emphasis on digitalization
- 3.4.2 Market challenge analysis
- 3.4.2.1 Technicalities of implementation and lack of skilled professionals
- 3.5 Penetration and Growth Prospect Mapping
- 3.6 Banking Encryption Software Market - Porter's Five Forces Analysis
- 3.7 Banking Encryption Software Market - PESTEL Analysis
Chapter 4 Investment Landscape Analysis
- 4.1 Investor Strategies
- 4.2 Investor Vision & Goal Analysis
- 4.3 Funding Raised in Encryption Software
- 4.4 Investments Made in Banking Sector
Chapter 5 FinTech Industry Highlights
- 5.1 FinTech Ecosystem Overview
- 5.2 FinTech Services Overview
- 5.3 Total FinTech Investment, 2017 - 2021 (USD Billion)
- 5.4 FinTech Regulatory Outlook
- Government Regulations
- Private/Association Regulations
- 5.5 FinTech Company Analysis - GVR DashBoard (Top 50 companies)
Chapter 6 Banking Encryption Software Component Outlook
- 6.1 Banking Encryption Software Market Share By Component, 2021
- 6.2 Software
- 6.2.1 Banking encryption software market, 2017 - 2030
- 6.3 Service
- 6.3.1 Banking encryption service market, 2017 - 2030
Chapter 7 Banking Encryption Software Deployment Outlook
- 7.1 Banking Encryption Software Market Share By Deployment, 2021
- 7.2 Cloud
- 7.2.1 Cloud banking encryption software market, 2017 - 2030
- 7.3 On-Premise
- 7.3.1 On-Premise banking encryption software market, 2017 - 2030
Chapter 8 Banking Encryption Software Enterprise Size Outlook
- 8.1 Banking Encryption Software Market Share By Enterprise Size, 2021
- 8.2 Large Enterprises
- 8.2.1 Banking encryption software market in large enterprises, 2017 - 2030
- 8.3 Small & Medium Enterprises
- 8.3.1 Banking encryption software market in small & medium enterprises, 2017 - 2030
Chapter 9 Banking Encryption Software Function Outlook
- 9.1 Banking Encryption Software Market Share By Function, 2021
- 9.2 Disk Encryption
- 9.2.1 Disk banking encryption software market, 2017 - 2030
- 9.3 Communication Encryption
- 9.3.1 Communication banking encryption software market, 2017 - 2030
- 9.4 File/Folder Encryption
- 9.4.1 File/folder banking encryption software market, 2017 - 2030
- 9.5 Cloud Encryption
- 9.5.1 Cloud banking encryption software market, 2017 - 2030
Chapter 10 Banking Encryption Software Regional Outlook
- 10.1 Banking Encryption Software Market Share By Region, 2021
- 10.2 North America
- 10.2.1 North America banking encryption software market, 2017 - 2030
- 10.2.2 North America banking encryption software market, by component, 2017 - 2030
- 10.2.3 North America banking encryption software market, by deployment, 2017 - 2030
- 10.2.4 North America banking encryption software market, by enterprise size, 2017 - 2030
- 10.2.5 North America banking encryption software market, by function, 2017 - 2030
- 10.2.6 U.S.
- 10.2.6.1 U.S. banking encryption software market, 2017 - 2030
- 10.2.6.2 U.S. banking encryption software market, by component, 2017 - 2030
- 10.2.6.3 U.S. banking encryption software market, by deployment, 2017 - 2030
- 10.2.6.4 U.S. banking encryption software market, by enterprise size, 2017 - 2030
- 10.2.6.5 U.S. banking encryption software market, by function, 2017 - 2030
- 10.2.7 Canada
- 10.2.7.1 Canada banking encryption software market, 2017 - 2030
- 10.2.7.2 Canada banking encryption software market, by component, 2017 - 2030
- 10.2.7.3 Canada banking encryption software market, by deployment, 2017 - 2030
- 10.2.7.4 Canada banking encryption software market, by enterprise size, 2017 - 2030
- 10.2.7.5 Canada banking encryption software market, by function, 2017 - 2030
- 10.3 Europe
- 10.3.1 Europe banking encryption software market, 2017 - 2030
- 10.3.2 Europe banking encryption software market, by component, 2017 - 2030
- 10.3.3 Europe banking encryption software market, by deployment, 2017 - 2030
- 10.3.4 Europe banking encryption software market, by enterprise size, 2017 - 2030
- 10.3.5 Europe banking encryption software market, by function, 2017 - 2030
- 10.3.6 Germany
- 10.3.6.1 Germany banking encryption software market, 2017 - 2030
- 10.3.6.2 Germany banking encryption software market, by component, 2017 - 2030
- 10.3.6.3 Germany banking encryption software market, by deployment, 2017 - 2030
- 10.3.6.4 Germany banking encryption software market, by enterprise size, 2017 - 2030
- 10.3.6.5 Germany banking encryption software market, by function, 2017 - 2030
- 10.3.7 U.K.
- 10.3.7.1 U.K. banking encryption software market, 2017 - 2030
- 10.3.7.2 U.K. banking encryption software market, by component, 2017 - 2030
- 10.3.7.3 U.K. banking encryption software market, by deployment, 2017 - 2030
- 10.3.7.4 U.K. banking encryption software market, by enterprise size, 2017 - 2030
- 10.3.7.5 U.K. banking encryption software market, by function, 2017 - 2030
- 10.4 Asia Pacific
- 10.4.1 Asia Pacific banking encryption software market, 2017 - 2030
- 10.4.2 Asia Pacific banking encryption software market, by component, 2017 - 2030
- 10.4.3 Asia Pacific banking encryption software market, by deployment, 2017 - 2030
- 10.4.4 Asia Pacific banking encryption software market, by enterprise size, 2017 - 2030
- 10.4.5 Asia Pacific banking encryption software market, by function, 2017 - 2030
- 10.4.6 China
- 10.4.6.1 China banking encryption software market, 2017 - 2030
- 10.4.6.2 China banking encryption software market, by component, 2017 - 2030
- 10.4.6.3 China banking encryption software market, by deployment, 2017 - 2030
- 10.4.6.4 China banking encryption software market, by enterprise size, 2017 - 2030
- 10.4.6.5 China banking encryption software market, by function, 2017 - 2030
- 10.4.7 India
- 10.4.7.1 India banking encryption software market, 2017 - 2030
- 10.4.7.2 India banking encryption software market, by component, 2017 - 2030
- 10.4.7.3 India banking encryption software market, by deployment, 2017 - 2030
- 10.4.7.4 India banking encryption software market, by enterprise size, 2017 - 2030
- 10.4.7.5 India banking encryption software market, by function, 2017 - 2030
- 10.4.8 Japan
- 10.4.8.1 Japan banking encryption software market, 2017 - 2030
- 10.4.8.2 Japan banking encryption software market, by component, 2017 - 2030
- 10.4.8.3 Japan banking encryption software market, by deployment, 2017 - 2030
- 10.4.8.4 Japan banking encryption software market, by enterprise size, 2017 - 2030
- 10.4.8.5 Japan banking encryption software market, by function, 2017 - 2030
- 10.5 Latin America
- 10.5.1 Latin America banking encryption software market, 2017 - 2030
- 10.5.2 Latin America banking encryption software market, by component, 2017 - 2030
- 10.5.3 Latin America banking encryption software market, by deployment, 2017 - 2030
- 10.5.4 Latin America banking encryption software market, by enterprise size, 2017 - 2030
- 10.5.5 Latin America banking encryption software market, by function, 2017 - 2030
- 10.5.6 Brazil
- 10.5.6.1 Brazil banking encryption software market, 2017 - 2030
- 10.5.6.2 Brazil banking encryption software market, by component, 2017 - 2030
- 10.5.6.3 Brazil banking encryption software market, by deployment, 2017 - 2030
- 10.5.6.4 Brazil banking encryption software market, by enterprise size, 2017 - 2030
- 10.5.6.5 Brazil banking encryption software market, by function, 2017 - 2030
- 10.6 MEA
- 10.6.1 MEA banking encryption software market, 2017 - 2030
- 10.6.2 MEA banking encryption software market, by component, 2017 - 2030
- 10.6.3 MEA banking encryption software market, by deployment, 2017 - 2030
- 10.6.4 MEA banking encryption software market, by enterprise size, 2017 - 2030
- 10.6.5 MEA banking encryption software market, by function, 2017 - 2030
Chapter 11 Competitive Analysis
- 11.1 Recent Developments & Impact Analysis, By Key Market Participants
- 11.2 Company Categorization
- 11.3 Vendor Landscape
- 11.3.1 Key company market share analysis, 2021
- 11.4 Company Analysis Tools
- 11.4.1 Company market position analysis
- 11.4.2 Competitive dashboard analysis
Chapter 12 Competitive Landscape
- 12.1 Broadcom
- 12.1.1 Company overview
- 12.1.2 Financial performance
- 12.1.3 Product benchmarking
- 12.1.4 Strategic initiatives
- 12.2 ESET North America
- 12.2.1 Company overview
- 12.2.2 Financial performance
- 12.2.3 Product benchmarking
- 12.2.4 Strategic initiatives
- 12.3 IBM Corporation
- 12.3.1 Company overview
- 12.3.2 Financial performance
- 12.3.3 Product benchmarking
- 12.3.4 Strategic initiatives
- 12.4 Intel Corporation
- 12.4.1 Company overview
- 12.4.2 Financial performance
- 12.4.3 Product benchmarking
- 12.4.4 Strategic initiatives
- 12.5 McAfee, LLC
- 12.5.1 Company overview
- 12.5.2 Financial performance
- 12.5.3 Product benchmarking
- 12.5.4 Strategic initiatives
- 12.6 Microsoft
- 12.6.1 Company overview
- 12.6.2 Financial performance
- 12.6.3 Product benchmarking
- 12.6.4 Strategic initiatives
- 12.7 Sophos Ltd.
- 12.7.1 Company overview
- 12.7.2 Financial performance
- 12.7.3 Product benchmarking
- 12.7.4 Strategic initiatives
- 12.8 Thales Group
- 12.8.1 Company overview
- 12.8.2 Financial performance
- 12.8.3 Product benchmarking
- 12.8.4 Strategic initiatives
- 12.9 Trend Micro Incorporated
- 12.9.1 Company overview
- 12.9.2 Financial performance
- 12.9.3 Product benchmarking
- 12.9.4 Strategic initiatives
- 12.10 WinMagic
- 12.10.1 Company overview
- 12.10.2 Financial performance
- 12.10.3 Product benchmarking
- 12.10.4 Strategic initiatives