GITNUX MARKETDATA REPORT 2024

Data Encryption Industry Statistics

The data encryption industry is expected to continue to grow rapidly due to increasing cybersecurity threats and stringent regulations.

Statistic 1

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

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Statistic 2

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

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Statistic 3

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

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Statistic 4

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

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Statistic 5

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

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Statistic 6

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

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Statistic 7

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

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Statistic 8

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

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Statistic 9

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

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Statistic 10

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

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Statistic 11

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

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Statistic 12

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

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Statistic 13

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

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Statistic 14

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

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Statistic 15

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

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Statistic 16

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

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Statistic 17

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

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Statistic 18

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

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