Data Protection Laws Act as a Catalyst to the European Encryption Software Market

European encryption software market is projected to grow at a significant CAGR during the forecast period (2020-2026). The significant presence of data protection laws in the region further encourages the demand for encryption software and further propels the market growth.  Several regulations were imposed in the region regarding the protection of data. For instance, the EU introduced GDPR on 25 May 2018, after the approval in April 2016 after the 4-year preparation and debate. It has replaced the Data Protection Directive 95/46/EC. The aim of the new law is to provide equal data privacy and protect the personal data of users and customers of companies all across Europe. 

Browse the full report description European Encryption Software Market Size, Share & Trends Analysis Report by Deployment Type (On-Premises and Cloud-Based), By Application (Database Encryption, Disk Encryption, Communication Encryption, File Encryption, and Others), By Industry (BFSI, IT & Telecom, Government, Retail & E-commerce, and Other) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/europe-encryption-software-market

Authoritative bodies comprise the European Commission, the European Parliament, and the Council of Ministers of the European Union. Under the law, the companies/organization which are gathering the data has to ensure that it should be gathered legally, and it is mandatory to protect it from misuse and exploitation or have to face penalties for not following it. The law applies to each company or entity which processes personal data at its branches in the European Union, irrespective of the location of the data process. It is also applied to the companies situated outside the EU and providing goods or services or monitoring customer behavior in the EU. 

  Market Coverage

Key Questions Addressed by the Report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and the coming years?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected region/segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

European encryption software Market – Segmentation

By Deployment Type

• On-Premises
• Cloud-Based

By Application

• Database Encryption
• Disk Encryption
• Communication Encryption
• File Encryption
• Others (Cloud Encryption)

By Industry

• BFSI
• IT & Telecom
• Government 
• Retail & E-commerce
• Other (Healthcare)

European Encryption Software Market – Segmentation by Region

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe