The United Kingdom bank encryption software market growth is anticipated to progress at a CAGR of 13.22%, during the forecast period, 2022-2028, reaching a revenue of $1881.83 million by 2028.

UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET FORECAST 2022-2028

United Kingdom 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)

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The United Kingdom bank encryption software market growth is anticipated to progress at a CAGR of 13.22%, during the forecast period, 2022-2028, reaching a revenue of $1881.83 million by 2028.

United Kingdom Bank Encryption Software Market

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The data generated by the Internet of Things and Bring Your Own Device (BYOD) has raised data security concerns. Also, the rising data breaches, thefts, and losses, cyberattacks, etc., boost encryption solution demands. In addition, financial companies and banks are exposed to security breaches given the large amount of data produced by digital channels and the lack of data security solutions.

The pandemic increased the need for IT infrastructure and enterprise cybersecurity measures. Also, people are becoming increasingly wary of financial security online. There has been a surge in the number of malware, hackers, and ID thieves trying to gain access to secure information like credit card numbers, social security numbers, banking information, log-in credentials, etc. As a result, tracking providers are utilizing bank-level security or encryption to improve their security level.

The development of several technologies for better data encryption and management has led to companies seeking more advanced solutions. In addition, there is a rising requirement for companies to encrypt all the data. Besides, the benefits provided by the banking encryption software influence their adoption among the enterprises, resulting in the deployment of varied solutions. In the United Kingdom, the market demands are driven by communication security and file transfers.

The United Kingdom bank encryption software market scope includes the segmentation analysis of function, component, enterprise size, and deployment model. The function segment is sub-categorized into file/folder encryption, cloud encryption, communication encryption, and disk encryption.

Communication encryption is evaluated to be the upcoming largest function in the market in terms of revenue share. Government agencies globally are pushing for encrypted communication. An information-theoretic security technique ensures the security of wireless communication links through coding and communications techniques. Also, e-mail encryption tools are increasingly available for sending secure attachments and messages. These can be used through handheld devices, desktop computers, and servers. They are also hosted on remote computers. It is also called cloud-based computing or Software as a Service (SaaS).

Whereas disk encryption protects information by converting it into unreadable code that is indecipherable to unauthorized people. It uses disk encryption hardware or software to encode every data that goes on a disk volume or disk. Also, it is used to restrict unauthorized access to data storage. In addition, it is considered the most complete form of computer encryption, owing to its transparency. Moreover, whole disk encryption protects a disk from theft or accidental loss. It also encodes the entire disk, including hibernation files, system files, and swap files.

Some of the eminent companies in the United Kingdom bank encryption software market are Intel Corporation, Microsoft Corporation, Trend Micro Inc, Thales Group, McAfee Corp, etc.

Intel Corporation is an integrated device manufacturer that develops and designs digital technology components and products. The product portfolio includes flash memory, microprocessors, embedded processors & microcontrollers, network & communication, systems management, etc. The company sells its solutions and products to original equipment manufacturers, original design manufacturers, and industrial & communications equipment manufacturers. It has business operations in Taiwan, the US, Singapore, and China, with headquarters in Santa Clara, California, the US.

One of its main products, Intel SGX, offers protection against several active and known threats. Also, it provides another layer of defense by reducing the attack surface of the system

Report Synopsis

Report ScopeDetails
Market Forecast Years2022-2028
Base Year2021
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million)
Segments AnalyzedDeployment Model, Enterprise Size, Component, and Function
Companies Analyzed

Dell Technologies Inc, ESET, IBM, Intel Corporation, McAfee Corp, Microsoft Corporation, Thales Group, Trend Micro Inc

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY DRIVERS
      • KEY RESTRAINTS
    3. 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
      • PESTLE ANALYSIS
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • RELIABILITY
        • APPLICATION
        • SUPERIOR TECHNOLOGY
      • REGULATORY FRAMEWORK
    4. MARKET BY DEPLOYMENT MODEL
      • ON-PREMISE BANK ENCRYPTION SOFTWARE
      • CLOUD BANK ENCRYPTION SOFTWARE
    5. MARKET BY ENTERPRISE SIZE
      • LARGE ENTERPRISES
      • SMALL & MEDIUM ENTERPRISES
    6. MARKET BY COMPONENT
      • SOFTWARE
      • SERVICES
    7. MARKET BY FUNCTION
      • DISK ENCRYPTION
      • COMMUNICATION ENCRYPTION
      • CLOUD ENCRYPTION
      • FILE/ FOLDER ENCRYPTION
    8. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • DELL TECHNOLOGIES INC
        • ESET
        • IBM
        • INTEL CORPORATION
        • MCAFEE CORP
        • MICROSOFT CORPORATION
        • THALES GROUP
        • TREND MICRO INC

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – BANK ENCRYPTION SOFTWARE

    TABLE 2: REGULATORY FRAMEWORK

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

    TABLE 4: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODEL, FORECAST YEARS, 2022-2028 (IN $ MILLION)

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

    TABLE 6: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY ENTERPRISE SIZE, FORECAST YEARS, 2022-2028 (IN $ MILLION)

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

    TABLE 8: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY COMPONENT, FORECAST YEARS, 2022-2028 (IN $ MILLION)

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

    TABLE 10: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY FUNCTION, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 11: LIST OF MERGERS & ACQUISITIONS

    TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 14: 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: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY DEPLOYMENT MODEL, IN 2021

    FIGURE 9: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY ON-PREMISE, 2022-2028 (IN $ MILLION)

    FIGURE 10: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD, 2022-2028 (IN $ MILLION)

    FIGURE 11: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY ENTERPRISE SIZE, IN 2021

    FIGURE 12: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY LARGE ENTERPRISES, 2022-2028 (IN $ MILLION)

    FIGURE 13: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY SMALL & MEDIUM ENTERPRISES, 2022-2028 (IN $ MILLION)

    FIGURE 14: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

    FIGURE 15: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)

    FIGURE 16: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)

    FIGURE 17: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, GROWTH POTENTIAL, BY FUNCTION, IN 2021

    FIGURE 18: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY DISK ENCRYPTION, 2022-2028 (IN $ MILLION)

    FIGURE 19: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY COMMUNICATION ENCRYPTION, 2022-2028 (IN $ MILLION)

    FIGURE 20: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD ENCRYPTION, 2022-2028 (IN $ MILLION)

    FIGURE 21: UNITED KINGDOM BANK ENCRYPTION SOFTWARE MARKET, BY FILE/ FOLDER ENCRYPTION, 2022-2028 (IN $ MILLION)       

    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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