Europe Bank Encryption Software Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report suggests that the bank encryption software market in Europe will advance at a compound annual growth rate of 13.69% in revenue during 2022-2028. Italy, the United Kingdom, Germany, Spain, France, and the Rest of Europe form the market in the considered region.
France has developed encryption software for banking, government, and other sectors. The Tchap project, for instance, was introduced to establish an open-source encrypted communication for public agents, improving information dissemination and ensuring security. Presently, only agents of the central administration can open an account of Tchap, but the code source is accessible to people under an open-source license. It is expected to be extended to all members, including regional and local administration. Therefore, such security measures augment the growth of the bank encryption software market.
On the other hand, several banks are thriving in providing encryption services to users in Spain. In this regard, the compliance departments of various large financial institutions have commenced the study of whether they must provide encryption services. For instance, BBVA, a Spanish bank, has provided encrypted asset trading services in Switzerland. Such steps to include encryption is expected to support the bank encryption software market over the upcoming years.
COMPETITIVE OUTLOOK
Leading enterprises in the bank encryption software market include McAfee Corp, Thales Group, Microsoft Corp, IBM, and Dell Technologies Inc.
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