Banking Encryption Software Market to Garner $4.98 Bn, Globally, by 2030 at 12.8% CAGR: Allied Market Research
PORTLAND, Ore., July 28, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "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, 20212030".
- PORTLAND, Ore., July 28, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "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, 20212030".
- Surge in use of digital payment technology, increase in demand for data security technology among banks and financial institutions, and rise in cyberattacks and data proliferation drive the growth of the global banking encryption software market.
- However, lack of awareness toward encryption software and implementation issues of banking encryption software hinder the market growth.
- By component, the software segment held the largest share in 2020, accounting for nearly three-fourths of the global banking encryption software market, as encryption software is cheaper and faster to deploy than services.