Simply said, data encryption is the act of transforming information from its original, human-readable form into an encrypted, machine-inaccessible one. Encrypting data before to sending it over a network is a straightforward and effective method of protecting the privacy of users’ data. Data encryption can be done using either a symmetric key or an asymmetric key.
Encryption is the process of transforming information from its original, human-readable form into an encrypted, machine-inaccessible form using a secret key. Information transferred by users over a network can be kept private using data encryption, which is both straightforward and effective. Data encryption can be done using either a symmetric key or an asymmetric key.
To encrypt and decode data, symmetric key methods employ the same key, while asymmetric key methods require two different keys, one for each end of the communication channel. More than just online safety depends on strong encryption. If you encrypt your desktop, a hacker or laptop thief won’t be able to steal your personal information, hijack your bank account, or do any other damage.
The goal of using encryption software is to augment an organization’s existing cybersecurity protocols, and it can be applied to both live data streaming over the internet or private networks and static data saved on physical devices. Because encrypted data cannot be hacked in the event of data theft or entry into physical devices, businesses need to employ fewer standard cybersecurity measures.
Information in folders and files, as well as data in transit or through channels, can be safeguarded using encryption software to meet the security and compliance standards of each given organization. The program can be used to encrypt or decrypt data while in transit or while stored. Confidential information is further protected by encryption software, which renders it unintelligible even to the authorized user. It is anticipated that the use of encryption programs would rise in response to the rising number of cyber-attacks.
More and more businesses are turning to data encryption solutions in order to stay in compliance with various standards, which is fueling the expansion of the encryption software industry. As a result of the growing concern for the security of personal information, many countries have made data encryption a legal requirement for commercial activities. And as the popularity of big data analytics has grown, so has the need for this kind of software among the world’s largest online firms to protect their customers’ personal information. The proliferation of cyberattacks and mobile theft has prompted authorities to call for uniform regulations covering the transmission and protection of sensitive data.
At a CAGR of 21.6% between 2021 and 2028, the market value of encryption software market is projected to increase from $6.1 billion in 2020 to $29 billion in 2028.