ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET 2022-2028

ICT | Security

ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET 2022-2028

Market by Component, Deployment Mode, Enterprise Type, Encryption Type, and Country Outlook | Forecast 2022-2028

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According to Triton Market Research’s report, the bank encryption software market in Asia-Pacific is anticipated to register growth at a CAGR of 14.85% during the forecasted period 2022-2028.


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The countries explored in the studied region include:

•         China

•         Japan

•         India

•         South Korea

•         ASEAN Countries

•         Australia & New Zealand

•         Rest of Asia-Pacific

China captures the largest share in the bank encryption software market. Over the years, the trend of digital payments has taken precedence across the region. This has significantly surged concerns relating to confidential data. In this regard, banking encryption offers numerous benefits, like reducing illegal activities in the banking process. Moreover, the rising security and privacy concerns on account of rising smartphone penetration have influenced the adoption of encryption software. These benefits have led governments to promote encryption across industries, including banking. Thus, all these factors are widening the bank encryption software market’s growth.

China has emerged as the second-largest digital economy globally. Moreover, the country’s population heavily opts for smartphones, leading to approximately 800 million internet users. This has highlighted concerns relating to the personal data of consumers. Besides this, the surge in cyberattacks has sparked privacy concerns across industries, influencing the adoption of encryption software. Therefore, a surge in cybercrimes and growing smartphone penetration are major factors supporting China’s bank encryption software market’s progression.

Japan is among the major countries implementing encryption solutions in the banking and financial sector. The emergence of decentralized technologies and crypto-assets has encouraged various companies to adopt the central bank digital currency concept. Besides, with the expansion of digital payment instruments, the possibility of using information linked to payments has increased privacy issues. Thus, these factors have increased the demand for encryption systems, thereby driving the bank encryption software market.

Encryption software uses complex algorithms to mix the data. The effectiveness of encryption technology is established by the algorithm’s strength, key length, and encryption system. Since encryption renders data unreadable to an unauthorized party, the information remains confidential. The bank encryption software market is segmented into component, encryption type, enterprise type, and deployment mode. The component section is divided into software and services.

Major companies in the market include IBM, Trend Micro Inc, Broadcom Inc, McAfee Corp, Thales Group, ESET, and Dell Technologies Inc.

Trend Micro Inc is a cyber-security software company involved in developing server security, cloud security, and small business content solutions. It provides information deployment and attack-specific policies that minimize the impact of network vulnerability and attacks. Its product line includes ServerPortect, which identifies malware in real time, eliminating malicious code and repairing system damage. Trend Micro Inc is an American-Japanese multinational enterprise with headquarters in Tokyo, Japan.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies

     Comprehensive information and estimation of the bank encryption software market revenue growth in the Asia-Pacific and its influence on the parent market

      In-depth study of forthcoming trends in consumer behavioral patterns

      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces

     A wide-ranging study of factors that will challenge the APAC bank encryption software market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON BANK ENCRYPTION SOFTWARE MARKET

2.2. KEY INSIGHTS

2.2.1. RISE OF FINTECH ORGANIZATIONS IN MAINSTREAM BANKING AND THE FINANCIAL SECTOR

2.2.2. EMERGENCE OF SOFTWARE SECURITY INFRASTRUCTURE

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. KEY IMPACT ANALYSIS

2.4.1. RELIABILITY

2.4.2. APPLICATION

2.4.3. SUPERIOR TECHNOLOGY

2.5. MARKET ATTRACTIVENESS INDEX

2.6. VENDOR SCORECARD

2.7. INDUSTRY COMPONENTS

2.8. REGULATORY FRAMEWORK

2.9. KEY MARKET STRATEGIES

2.9.1. ACQUISITIONS

2.9.2. PRODUCT LAUNCHES

2.9.3. AGREEMENTS

2.9.4. BUSINESS EXPANSIONS

2.10. MARKET DRIVERS

2.10.1. GROWING CYBERATTACKS ON BANKS AND FINANCIAL INSTITUTIONS

2.10.2. SURGE IN DEMAND FOR DATA SECURITY TECHNOLOGY

2.10.3. INCREASING DATA PROLIFERATION

2.11. MARKET CHALLENGES

2.11.1. LACK OF AWARENESS REGARDING ENCRYPTION SOFTWARE

2.11.2. IMPLEMENTATION CHALLENGES

2.11.3. COMPROMISED SOFTWARE INTEGRITY IN ENCRYPTED DATA SECURITY

2.12. MARKET OPPORTUNITIES

2.12.1. PENETRATION OF BANKING SOFTWARE GLOBALLY

2.12.2. RISING USE OF DIGITAL PAYMENT TECHNOLOGY

2.12.3. INCREASED ACCEPTANCE OF MOBILE PAYMENT SERVICES

3. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY COMPONENT

3.1. SOFTWARE

3.2. SERVICES

4. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY DEPLOYMENT MODE

4.1. ON-PREMISE

4.2. CLOUD

5. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY ENTERPRISE TYPE

5.1. LARGE ENTERPRISES

5.2. SMALL & MEDIUM ENTERPRISES

6. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY ENCRYPTION TYPE

6.1. DISK ENCRYPTION

6.2. COMMUNICATION ENCRYPTION

6.3. FILE/FOLDER ENCRYPTION

6.4. CLOUD ENCRYPTION

7. ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET – COUNTRY OUTLOOK

7.1. CHINA

7.2. JAPAN

7.3. INDIA

7.4. SOUTH KOREA

7.5. ASEAN COUNTRIES

7.6. AUSTRALIA & NEW ZEALAND

7.7. REST OF ASIA-PACIFIC

8. COMPETITIVE LANDSCAPE

8.1. MICROSOFT CORP

8.2. IBM

8.3. BROADCOM INC

8.4. MCAFEE CORP

8.5. THALES GROUP

8.6. DELL TECHNOLOGIES INC

8.7. ESET

8.8. TREND MICRO INC

8.9. INTEL CORP

8.10. WINMAGIC DATA SECURITY SOLUTION

8.11. BITDEFENDER PVT

8.12. LOOKOUT SECURITY

8.13. NETSKOPE INC

8.14. PROTEGRITY PVT LTD

9. RESEARCH METHODOLOGY & SCOPE

9.1. RESEARCH SCOPE & DELIVERABLES

9.2. SOURCES OF DATA

9.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: REGULATORY FRAMEWORK

TABLE 4: LIST OF ACQUISITIONS

TABLE 5: LIST OF PRODUCT LAUNCHES

TABLE 6: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 7: LIST OF BUSINESS EXPANSIONS

TABLE 8: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE, 2022-2028 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY ENTERPRISE TYPE, 2022-2028 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY ENCRYPTION TYPE, 2022-2028 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: KEY BUYING IMPACT ANALYSIS

FIGURE 2: MARKET ATTRACTIVENESS INDEX

FIGURE 3: INDUSTRY COMPONENTS

FIGURE 4: WORKING OF SECURITY ENCRYPTION MODEL

FIGURE 5: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, COMPONENT OUTLOOK, 2021 & 2028 (IN %)

FIGURE 6: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, DEPLOYMENT MODE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 9: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY ON-PREMISE, 2022-2028 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, ENTERPRISE TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 12: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY LARGE ENTERPRISES, 2022-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY SMALL & MEDIUM ENTERPRISES, 2022-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, ENCRYPTION TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 15: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY DISK ENCRYPTION, 2022-2028 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY COMMUNICATION ENCRYPTION, 2022-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY FILE/FOLDER ENCRYPTION, 2022-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD ENCRYPTION, 2022-2028 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)

FIGURE 20: CHINA BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: JAPAN BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 22: INDIA BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: SOUTH KOREA BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 24: VIETNAM BANKING SHARE BY ASSET (IN 2019)

FIGURE 25: SOUTHEAST ASIAN ADULT POPULATION AND BANKING PENETRATION (IN 2018)

FIGURE 26: ASEAN COUNTRIES BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 27: AUSTRALIA & NEW ZEALAND BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

FIGURE 28: REST OF ASIA-PACIFIC BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)

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