Asia-pacific Bank Encryption Software Market Forecast 2022-2030
KEY FINDINGS
The Asia-Pacific bank encryption software market is anticipated to record a CAGR of 14.27% during the forecast period, 2022-2030. The surging privacy and security concerns in the developing countries of the region and the growing awareness among the financial and banking institutions about bank encryption drive market demands.
MARKET INSIGHTS
Singapore, India, Australia & New Zealand, South Korea, Japan, Thailand, China, Indonesia, and Rest of Asia-Pacific, are analyzed for the Asia-Pacific bank encryption software market growth assessment. Japan has a long-standing history of implementing encryption solutions in the financial and banking sectors. Also, the emergence of decentralized technologies has facilitated more entities towards the concept of Central Bank Digital Currency (CBDC). Similarly, the extending private-based digital payment instruments and the possible utilization of information and data linked to payments raise privacy concerns. Besides, prominent banks like the Sumitomo Mitsui Banking Corporation (SMBC) use encryption cloud software for digital security purposes.
In South Korea, the banks are taking measures to enhance cybersecurity to a new level to match the pace of the advancing financial technologies and respond to new threats. Most banks in the country provide internet banking services based on PKI (Public Key Infrastructure) certificates since the early 2000s.
Whereas in Indonesia, the rising developments in the banking sector and the growing youth population using digital payment gateways are promoting the market growth. Also, initiatives like the Open Banking in the Indonesia Payment System (IPS) 2025 entail promoting digital transformation in the banking sector and establishing interlinks between FinTech and banks. Such developments propel market growth in these countries.
COMPETITIVE INSIGHTS
Some of the leading firms in the market include Trend Micro Inc, Thales Group, WinMagic Data Security Solution, Broadcom Inc, etc.
Our report offerings include:
Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation cater to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Data Proliferation
- 3.1.2. Growing Threat Of Cyber-attacks On Banks And Financial Institutions
- 3.1.3. Rising Demand For Data Security Technology Among Banks And Financial Institutions
- 3.2. Key Restraints
- 3.2.1. Implementation Issues Of Bank Encryption Software
- 3.2.2. Compromised Software Integrity In Encrypted Data Security
- 3.2.3. Lack Of Awareness Regarding Encryption Software
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Bank Encryption Software Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Value Chain Analysis
- 4.7. Key Buying Criteria
- 4.7.1. Reliability
- 4.7.2. Application
- 4.7.3. Superior Technology
- 4.8. Regulatory Framework
- 5. Market By Deployment Model
- 5.1. On-premise Bank Encryption Software
- 5.2. Cloud Bank Encryption Software
- 6. Market By Enterprise Size
- 6.1. Large Enterprises
- 6.2. Small & Medium Enterprises
- 7. Market By Component
- 7.1. Software
- 7.2. Services
- 8. Market By Function
- 8.1. Disk Encryption
- 8.2. Communication Encryption
- 8.3. Cloud Encryption
- 8.4. File/ Folder Encryption
- 9. Geographical Analysis
- 9.1. Asia-pacific
- 9.1.1. Market Size & Estimates
- 9.1.2. Key Growth Enablers
- 9.1.3. Key Challenges
- 9.1.4. Key Players
- 9.1.5. Country Analysis
- 9.1.5.1. China
- 9.1.5.2. Japan
- 9.1.5.3. India
- 9.1.5.4. South Korea
- 9.1.5.5. Indonesia
- 9.1.5.6. Thailand
- 9.1.5.7. Singapore
- 9.1.5.8. Australia & New Zealand
- 9.1.5.9. Rest Of Asia-pacific
- 10. Competitive Landscape
- 10.1. Key Strategic Developments
- 10.1.1. Mergers & Acquisitions
- 10.1.2. Product Launches & Developments
- 10.1.3. Partnerships & Agreements
- 10.1.4. Business Expansions & Divestitures
- 10.2. Company Profiles
- 10.2.1. Bitdefender Pvt
- 10.2.2. Broadcom Inc
- 10.2.3. Dell Technologies Inc
- 10.2.4. Eset
- 10.2.5. Ibm
- 10.2.6. Intel Corporation
- 10.2.7. Lookout Security
- 10.2.8. Mcafee Corp
- 10.2.9. Microsoft Corporation
- 10.2.10. Netskope Inc
- 10.2.11. Protegrity Pvt
- 10.2.12. Thales Group
- 10.2.13. Trend Micro Inc
- 10.2.14. Winmagic Data Security Solution
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