Global Document Encryption Software Market by Type (IDEA Algorithm, RSA Algorithm, AES Algorithm), By Application (Confidential Document, Meeting minutes, Technical Information, Financial Statements, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Document Encryption Software Market Size is poised to grow from US$362.6 Mn in 2020 to US$1,588.2 Mn by 2028, at a CAGR of 25% during the forecast period 2021-2028. The growth of this market can be attributed to factors such as the increasing number of data breaches and cyberattacks on organizations due to various reasons like hacking or social engineering which has led companies across industries to rely on encryption solutions for their confidential documents and other sensitive information stored electronically.
Document encryption software is a secure method for protecting sensitive data like confidential documents, meeting minutes, technical information, and financial statements. It provides end-to-end protection for the content of files that are stored electronically without any need to change or modify them in order to encrypt or decrypt their contents. This type of security measure ensures confidentiality by converting clear text into code that can only be read with the use of decryption keys. The document encryption process starts when plaintext goes through an encoding function called ciphering before being converted into unreadable encrypted codes known as ciphers. These bytes form blocks that represent characters from the readable English language alphabet (A-Z). To decipher these messages back to their original format, it needs decoding keys such as public keys or private keys.
On the basis of Types, the market is segmented into IDEA, RSA, and AES algorithms. IDEA algorithm type segment is anticipated to account for the largest market share in 2021.
IDEA Algorithm:
IDEA is a symmetric key algorithm and uses the cipher feedback mode of operation. It was designed by Xuejia Lai in 1991 to be easy for users without any crypto-mathematics knowledge or skills, which makes it easier than other algorithms to use. IDEA stands for International Data Encryption Algorithm; it was proposed as a global standard but lost its place when AES became popular as an encryption method worldwide.
RSA Algorithm:
RSA algorithm is the most popular and well-known public-key cryptography algorithm. RSA algorithms are used to encrypt messages or decrypt a message that has been encrypted by another party (message sender) using their private key, which only they have access to. The general use of this encryption type can be applied as long as there is no need for a secure channel between parties at any given time.
AES Algorithm:
AES is a type of algorithm which encrypts and decrypts data by using various keys. It was developed to replace Data Encryption Standard (DES) as the United States adopted it for its standards in 2001. AES has been found to be secure from brute-force attacks with key lengths at 128, 192, or 256 bits; however, there are some concerns that quantum computers could compromise encrypted communications if they become functional before new encryption algorithms can sufficiently replace AES.
On the basis of the Application, the market is segmented into Confidential Document, Meeting Minutes, Technical Information, Financial Statements, and Others.
Confidential Document:
In confidential documents, the encryption of data is done to ensure that only authorized personnel has access. Encryption usually involves using a public key and private key which are matched keys. The sender uses their private key to encrypt information and sends it in an encrypted document or password-protected message via email/Internet protocol (IP). To decrypt such messages, the receiver needs the matching public key as well as detailed knowledge about how encryption was carried out so they can reverse the process by using this same set of procedures for decryption.
Meetings Minutes:
Document encryption software is used for meeting minutes so that the content of meetings can be kept private. Meeting minutes are often confidential and contain sensitive information such as drafts, discussions on current campaigns, or corporate strategy. This type of company-wide communication should not be freely available to anyone who has access to a particular computer system within an organization. These documents need protection from unauthorized individuals before they are sent out externally or internally in order to maintain confidentiality.
Technical Information:
The use of Document Encryption Software in technical information is quite high. The reason behind this is that the tech companies usually store a lot of data and they need to make sure that it will be appropriately secured by encryption software, so documents protected with an encryption algorithm can only be decrypted by authorized personnel or out-of-the-box tools. For instance, when technicians collect customer service feedbacks on daily basis via remote channels like chat sessions or email threads, these documents should also be encrypted if sensitive information has been shared among them. Thus, in order for a security measure to work smoothly without any problem, more than one type of algorithm is used to encrypt the files (e.g., IDEA Algorithm + AES Algorithm).
Financial Statements:
The use of Document Encryption Software in financial statements is increasing as it can be used to safeguard access to these documents. The software has been widely adopted by organizations for email encryption, file encryption, and data protection. This allows employees to share sensitive information with each other without having a fear that it will be leaked outside the company which may lead them into legal or compliance issues. It also helps protect intellectual property because once a document is encrypted, only those who have authorized access can open it. Financial institutions are using this software for business continuity planning where they need an electronic copy of their crucial files such as customer records and account details at all times when there's an event like fire or power outage so that their staff can continue working from another location.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America is expected to have the highest market share. The growth is attributed to increasing use of encryption software in email communication, quick adoption among small and medium-sized enterprises (SMEs) for data privacy, rising regulations on new business models due to high cybercrimes risk as well as flexible pricing methods adopted by vendors.
Growth Factors For The Global Document Encryption Software Market:
- The growth factors for the global document encryption software market are increasing focus on data privacy and security, government regulations related to IT services.
- Development of new technologies that allow companies to meet compliance requirements while lowering costs by taking advantage of cloud-based solutions
- Growing demand from enterprises in North America and Europe for secure systems with scalable infrastructure alternatives.
Up Market Research published a new report titled “Document Encryption Software Market research report which is segmented by Types (IDEA Algorithm, RSA Algorithm, AES Algorithm), By Applications (Confidential Document, Meeting minutes, Technical Information, Financial Statements, Others), By Players/Companies Thales, Fuji Xerox, Dell Technology, Macro Systems, Axcrypt, NewSoftwares Net, Esafenet, Tipray, Eetrust Technology, Bluedon, Venustech”.
Report Scope
Report Attributes | Report Details |
Report Title | Document Encryption Software Market Research Report |
By Type | IDEA Algorithm, RSA Algorithm, AES Algorithm |
By Application | Confidential Document, Meeting minutes, Technical Information, Financial Statements, Others |
By Companies | Thales, Fuji Xerox, Dell Technology, Macro Systems, Axcrypt, NewSoftwares Net, Esafenet, Tipray, Eetrust Technology, Bluedon, Venustech |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 232 |
Number of Tables & Figures | 163 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Document Encryption Software Market Report Segments:
The market is segmented by Type IDEA Algorithm, RSA Algorithm, AES Algorithm and By Application Confidential Document, Meeting minutes, Technical Information, Financial Statements, Others.
Some of the companies that are profiled in this report are:
- Thales
- Fuji Xerox
- Dell Technology
- Macro Systems
- Axcrypt
- NewSoftwares Net
- Esafenet
- Tipray
- Eetrust Technology
- Bluedon
- Venustech
Document Encryption Software Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Document Encryption Software Market
Overview of the regional outlook of the Document Encryption Software Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Document Encryption Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Document Encryption Software Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. IDEA Algorithm
2. RSA Algorithm
3. AES Algorithm
7. By Application:1. Confidential Document
2. Meeting minutes
3. Technical Information
4. Financial Statements
5. Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Document Encryption Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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Reasons to Purchase the Document Encryption Software Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Document Encryption Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Document Encryption Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Document Encryption Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Document Encryption Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Document Encryption Software Market Size & Forecast, 2018-2028
4.5.1 Document Encryption Software Market Size and Y-o-Y Growth
4.5.2 Document Encryption Software Market Absolute $ Opportunity
Chapter 5 Global Document Encryption Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Document Encryption Software Market Size Forecast by Type
5.2.1 IDEA Algorithm
5.2.2 RSA Algorithm
5.2.3 AES Algorithm
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Document Encryption Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Document Encryption Software Market Size Forecast by Applications
6.2.1 Confidential Document
6.2.2 Meeting minutes
6.2.3 Technical Information
6.2.4 Financial Statements
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Document Encryption Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Document Encryption Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Document Encryption Software Analysis and Forecast
9.1 Introduction
9.2 North America Document Encryption Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Document Encryption Software Market Size Forecast by Type
9.6.1 IDEA Algorithm
9.6.2 RSA Algorithm
9.6.3 AES Algorithm
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Document Encryption Software Market Size Forecast by Applications
9.10.1 Confidential Document
9.10.2 Meeting minutes
9.10.3 Technical Information
9.10.4 Financial Statements
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Document Encryption Software Analysis and Forecast
10.1 Introduction
10.2 Europe Document Encryption Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Document Encryption Software Market Size Forecast by Type
10.6.1 IDEA Algorithm
10.6.2 RSA Algorithm
10.6.3 AES Algorithm
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Document Encryption Software Market Size Forecast by Applications
10.10.1 Confidential Document
10.10.2 Meeting minutes
10.10.3 Technical Information
10.10.4 Financial Statements
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Document Encryption Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Document Encryption Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Document Encryption Software Market Size Forecast by Type
11.6.1 IDEA Algorithm
11.6.2 RSA Algorithm
11.6.3 AES Algorithm
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Document Encryption Software Market Size Forecast by Applications
11.10.1 Confidential Document
11.10.2 Meeting minutes
11.10.3 Technical Information
11.10.4 Financial Statements
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Document Encryption Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Document Encryption Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Document Encryption Software Market Size Forecast by Type
12.6.1 IDEA Algorithm
12.6.2 RSA Algorithm
12.6.3 AES Algorithm
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Document Encryption Software Market Size Forecast by Applications
12.10.1 Confidential Document
12.10.2 Meeting minutes
12.10.3 Technical Information
12.10.4 Financial Statements
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Document Encryption Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Document Encryption Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Document Encryption Software Market Size Forecast by Type
13.6.1 IDEA Algorithm
13.6.2 RSA Algorithm
13.6.3 AES Algorithm
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Document Encryption Software Market Size Forecast by Applications
13.10.1 Confidential Document
13.10.2 Meeting minutes
13.10.3 Technical Information
13.10.4 Financial Statements
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Document Encryption Software Market: Competitive Dashboard
14.2 Global Document Encryption Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thales
14.3.2 Fuji Xerox
14.3.3 Dell Technology
14.3.4 Macro Systems
14.3.5 Axcrypt
14.3.6 NewSoftwares Net
14.3.7 Esafenet
14.3.8 Tipray
14.3.9 Eetrust Technology
14.3.10 Bluedon
14.3.11 Venustech