Data Encryption Industry Statistics

In this post, we will explore the significant statistics and trends shaping the data encryption industry. From the exponential growth projections in market size to the prevalence of cybersecurity threats, these data points shed light on the crucial role encryption plays in safeguarding sensitive information in today’s digital landscape.

Statistic 1

"Global Encryption Software market size expected to reach $16.5 billion by 2020,"

Statistic 2

"The encryption software market is projected to have a CAGR of 15.5% 2020-2027,"

Statistic 3

"Hardware encryption market to reach $413.85 billion by 2022,"

Statistic 4

"Disk Encryption market is expected to reach $11 billion by 2025,"

Statistic 5

"North America held the largest market share for data encryption in 2020,"

Statistic 6

"74% of organizations have experienced a data breach due to inadequate data encryption,"

Statistic 7

"Only about 48% of companies globally have a comprehensive encryption strategy,"

Statistic 8

"45% of businesses cite complexity as the top barrier to deploying an encryption strategy,"

Statistic 9

"Industry-specific regulations drive encryption strategy for 47% of businesses,"

Statistic 10

"Cybersecurity exploits targeting encrypted traffic grow 260% in 2020,"

Statistic 11

"60% of businesses admit they are failing to decrypt inbound encrypted data,"

Statistic 12

"50% of Internet traffic was encrypted as of 2016, with the trend rapidly increasing,"

Statistic 13

"The Health Care industry is the top sector at 77% to extensively deploy encryption for data,"

Statistic 14

"The Transportation and Manufacturing sector use of encryption stands at 80% and 77% respectively,"

Statistic 15

"About 54% of organizations transfer sensitive or confidential data to the cloud whether it’s encrypted or not,"

Statistic 16

"Encryption software market in the APAC is expected to grow at the highest CAGR during the forecast period,"

Statistic 17

"More than 4,000 ransomware attacks have occurred daily since 2016,"

Statistic 18

"Encryption traffic processing is the second biggest security challenge cited by IT leaders,"

The statistics present a comprehensive overview of the current landscape of the data encryption industry, highlighting significant growth projections and key challenges faced by businesses worldwide. The increasing market size and adoption rate of encryption software indicate a growing awareness of the importance of data security. However, the statistics also shed light on the concerning prevalence of data breaches due to inadequate encryption strategies, with a substantial portion of businesses yet to implement comprehensive encryption measures. The rise in cybersecurity exploits targeting encrypted traffic further emphasizes the critical need for robust encryption practices. Sector-specific trends in encryption deployment and the challenges faced by organizations in implementing encryption strategies underscore the evolving nature of data protection requirements across industries.