The North America bank encryption software market is expected to register a CAGR of 13.41% during the forecast period, 2022-2030, and is projected to garner a revenue of $13389.40 million by 2030.

NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET FORECAST 2022-2030

North America Bank Encryption Software Market by Deployment Model (on-premise Bank Encryption Software, Cloud Bank Encryption Software) Market by Enterprise Size (Large Enterprises, Small & Medium Enterprises) Market by Component (Software, Services) Market by Function (Disk Encryption, Communication Encryption, Cloud Encryption, File/ Folder Encryption) by Geography

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The North America bank encryption software market is expected to register a CAGR of 13.41% during the forecast period, 2022-2030, and is projected to garner a revenue of $13389.40 million by 2030.

North America Bank Encryption Software Market

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The growing market demands in the region are attributed to the surging cybersecurity awareness and favorable policies. Also, the increased adoption of several advanced technologies offers growth opportunities. In addition, many market players are investing heavily in the security and safety of their data.

The North America bank encryption software market growth analysis includes the assessment of the United States and Canada. In the United States, the banking encryption software automated the encryption process in the banking sector. Also, it maintains the data protection levels at par with the high-level security levels in financial institutions and banks. Data privacy and security have a central role in bank operations and sectors to maintain the enterprise level of data protection. In addition, the need for data encryption and protection in the banking, the rising number of data credential thefts, and issues associated with unauthorized access promote market growth. Besides, the country has the presence of several key market players.

Further, the US is a hub for banking encryption software manufacturing and cloud services for this software. For instance, almost 34% of the global bank encryption software revenue is generated in the country. Moreover, there are several favorable policies like GLBA and FIPS that contribute to market growth. Additionally, the analytical study of costs, given the ransomware and data breaches, has increased the investments in encryption solutions.

The segmentation evaluation of the North America bank encryption software market includes component, enterprise size, function, and deployment model. The component category is sub-divided into services and software. Software is the major revenue generating component. Encryption entails data encoding, accessible only to authorized parties. The encryption software uses complex algorithms to encrypt the data. The data is then decrypted through a key provided by the message originator. The length of the key, the appropriateness of the encryption system, and the algorithm strength determine the efficiency of encryption technology.

Also, the information remains confidential since encryption renders the information unreadable to unauthorized parties. In addition, encryption technology offers data integrity assurance since algorithms provide protection against tampering and forgery. Besides, encryption software requires a regulatory framework for the smooth functioning of software for the banking sector. With regard to the services segment, the banking encryption software services’ objectives are to ensure the confidentiality and security of consumer information and records.

Some of the important firms operating in the North America bank encryption software market include IBM, Broadcom Inc, Intel Corporation, Dell Technologies Inc, ESET, etc.

International Business Machine is a leading Internet of Things (IoT) and artificial intelligence solutions-based company. It caters to several industries, including chemicals, aerospace & defense, healthcare, and automotive. The company operates through five segments, global financing, systems, global technology services, global business services, and cloud & cognitive software. The global business services segment provides delivery system integration, business process outsourcing services, business consulting services, application management, support services, and maintenance.

One of its key products, IBM Z, delivers an open, cloud-native experience, along with the resiliency, security bank, and AI needs.

Report Synopsis:

Report ScopeDetails
Market Forecast Years2022-2030
Base Year2021
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million)
Segments AnalyzedDeployment Model, Enterprise Size, Component, and Function
Countries AnalyzedThe United States and Canada
Companies Analyzed

Bitdefender Pvt, Broadcom Inc, Dell Technologies Inc, ESET, IBM, Intel Corporation, Lookout Security, McAfee Corp, Microsoft Corporation, Netskope Inc, Protegrity Pvt, Thales Group, Trend Micro Inc, WinMagic Data Security Solution

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • INCREASING DATA PROLIFERATION
        • GROWING THREAT OF CYBER-ATTACKS ON BANKS AND FINANCIAL INSTITUTIONS
        • RISING DEMAND FOR DATA SECURITY TECHNOLOGY AMONG BANKS AND FINANCIAL INSTITUTIONS
      • KEY RESTRAINTS
        • IMPLEMENTATION ISSUES OF BANK ENCRYPTION SOFTWARE
        • COMPROMISED SOFTWARE INTEGRITY IN ENCRYPTED DATA SECURITY
        • LACK OF AWARENESS REGARDING ENCRYPTION SOFTWARE
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON BANK ENCRYPTION SOFTWARE MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • RELIABILITY
        • APPLICATION
        • SUPERIOR TECHNOLOGY
      • REGULATORY FRAMEWORK
    2. MARKET BY DEPLOYMENT MODEL
      • ON-PREMISE BANK ENCRYPTION SOFTWARE
      • CLOUD BANK ENCRYPTION SOFTWARE
    3. MARKET BY ENTERPRISE SIZE
      • LARGE ENTERPRISES
      • SMALL & MEDIUM ENTERPRISES
    4. MARKET BY COMPONENT
      • SOFTWARE
      • SERVICES
    5. MARKET BY FUNCTION
      • DISK ENCRYPTION
      • COMMUNICATION ENCRYPTION
      • CLOUD ENCRYPTION
      • FILE/ FOLDER ENCRYPTION
    6. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • BITDEFENDER PVT
        • BROADCOM INC
        • DELL TECHNOLOGIES INC
        • ESET
        • IBM
        • INTEL CORPORATION
        • LOOKOUT SECURITY
        • MCAFEE CORP
        • MICROSOFT CORPORATION
        • NETSKOPE INC
        • PROTEGRITY PVT
        • THALES GROUP
        • TREND MICRO INC
        • WINMAGIC DATA SECURITY SOLUTION

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – BANK ENCRYPTION SOFTWARE

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODEL, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 4: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODEL, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 5: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY ENTERPRISE SIZE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY ENTERPRISE SIZE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY COMPONENT, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY FUNCTION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY FUNCTION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 12: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 13: LEADING PLAYERS OPERATING IN NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET

    TABLE 14: LIST OF MERGERS & ACQUISITIONS

    TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 17: LIST OF BUSINESS EXPANSIONS & DIVESTITURES                        

    LIST OF FIGURES

    FIGURE 1: WORKING OF SECURITY ENCRYPTION MODEL

    FIGURE 2: KEY MARKET TRENDS

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: VALUE CHAIN ANALYSIS

    FIGURE 7: KEY BUYING CRITERIA

    FIGURE 8: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY DEPLOYMENT MODEL, IN 2021

    FIGURE 9: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY ON-PREMISE, 2022-2030 (IN $ MILLION)

    FIGURE 10: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD, 2022-2030 (IN $ MILLION)

    FIGURE 11: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY ENTERPRISE SIZE, IN 2021

    FIGURE 12: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY LARGE ENTERPRISES, 2022-2030 (IN $ MILLION)

    FIGURE 13: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY SMALL & MEDIUM ENTERPRISES, 2022-2030 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

    FIGURE 15: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY SOFTWARE, 2022-2030 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY SERVICES, 2022-2030 (IN $ MILLION)

    FIGURE 17: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY FUNCTION, IN 2021

    FIGURE 18: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY DISK ENCRYPTION, 2022-2030 (IN $ MILLION)

    FIGURE 19: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY COMMUNICATION ENCRYPTION, 2022-2030 (IN $ MILLION)

    FIGURE 20: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD ENCRYPTION, 2022-2030 (IN $ MILLION)

    FIGURE 21: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, BY FILE/ FOLDER ENCRYPTION, 2022-2030 (IN $ MILLION)

    FIGURE 22: NORTH AMERICA BANK ENCRYPTION SOFTWARE MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 23: UNITED STATES BANK ENCRYPTION SOFTWARE MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 24: CANADA BANK ENCRYPTION SOFTWARE MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY DEPLOYMENT MODEL
      • ON-PREMISE BANK ENCRYPTION SOFTWARE
      • CLOUD BANK ENCRYPTION SOFTWARE
    2. MARKET BY ENTERPRISE SIZE
      • LARGE ENTERPRISES
      • SMALL & MEDIUM ENTERPRISES
    3. MARKET BY COMPONENT
      • SOFTWARE
      • SERVICES
    4. MARKET BY FUNCTION
      • DISK ENCRYPTION
      • COMMUNICATION ENCRYPTION
      • CLOUD ENCRYPTION
      • FILE/ FOLDER ENCRYPTION

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