Market Share of Encryption Software Industry
The encryption software market is moderately fragmented and has significant players. Few of the key companies currently hold a significant portion of the market such as IBM, Microsoft, Broadcom Inc., Sophos Ltd., Thales, etc. The encryption software market firms are growing their consumer bases internationally. These companies are advancing encryption technologies in software to raise their market share and profitability.
- June 2022 - Atos and IBM announced an expansion of their partnership around IBM Cloud for Financial Services to help financial services companies reach optimum data and systems security with EU trusted third-party cybersecurity monitoring supplied by Atos. As a result, businesses, notable operators of vital importance (OIV), and operators of essential services (OES) will be allowed to advance in their use of cloud computing. With these new tools, they will be able to strengthen data and system security and ensure that they are being monitored in accordance with French national military programming legislation and the EU Network and Information Security Directive (NIS).
- May 2022 - Broadcom will combine the USD 1.6 billion Symantec and USD 1 billion VMware security practices with the agreement to buy VMware for USD 61 billion. The giant semiconductor company from San Jose, California, claims it intends to promote its current security products under the VMware name and add them to the VMware portfolio. Broadcom's Symantec division focuses on an endpoint, network, information, identity, and email security, whereas VMware's security division is concerned with endpoint, workload, and container security.
Encryption Software Market Leaders
IBM
Microsoft
Broadcom Inc.
Sophos Ltd.
Thales
*Disclaimer: Major Players sorted in no particular order
