Increasing numbers of data breaches to propel the market growthĭata and security breaches have become more commonplace in recent years. Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review Future years will see the industry grow even more due to the advancement of digital technology, making the telecommunications and IT sectors more susceptible to data loss or cyberattacks. The key market drivers accelerating the data encryption industry's growth are the advancements in digital data transfer via smartphones and changing network security. The data encryption market industry is projected to grow from USD 13.4 billion in 2022 to USD 38.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.30% during the forecast period (2022 - 2030). Ice, Electric, Hybrid, Autonomous Vehiclesĭata Encryption Market Size was valued at USD 11.5 billion in 2021.Information And Communications Technology ↠.
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