Data Encryption is a security method where information is encoded and can only be accessed or decrypted by a user with the correct encryption key. Modern businesses have a wealth of data, from financial information to customer demographics, most of which they wish to keep private. Data encryption allows them to protect data privacy while keeping it accessible to legitimate users. The data encryption market demand is gaining momentum due to quick adoption of the concept of internet of things and is predicted to grow at a CAGR of 25.5% between 2020 & 2025, reaching the market size of $3,445 million.
