GRC Viewpoint

Top 10 Data Encryption Solution Providers 2023

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The worldwide encryption software market was worth USD 8.82 billion in 2019 and is expected to be worth USD 24.94 billion by 2027, growing at a 14.1% CAGR during the forecast period.

In the twenty-first century, incorporation of encryption software has become a vital component of data protection and safe data transit.

The fundamental objective of encryption software is to secure data from unauthorized users.

Furthermore, many businesses across the world are implementing encryption to meet their rising concerns about data security and privacy compliance norms.

GRC Viewpoint takes an in-depth look at the most crucial players in the data encryption solution providers sector.

Data encryption trends include a focus on homomorphic encryption for secure computation, the emergence of postquantum cryptography in anticipation of quantum threats, and the integration of blockchain for enhanced transaction
security. Multi-cloud encryption addresses the need for consistent data protection across diverse cloud environments,
while zero-trust models emphasize continuous user verification. Endpoint encryption gains importance in the era
of remote work. AI and machine learning enhance encryption algorithms, while quantum key distribution ensures
secure communication. Regulatory compliance fuels adoption, and integrated security platforms offer comprehensive
solutions. Improved usability aims to make encryption more accessible. Stay current for evolving developments.

Based on TrueCrypt 7.1a, VeraCrypt is a free disk encryption program offered by IDRIX. It strengthens the encryption methods used for systems and partitions, making them resistant to advancements in brute-force assaults. It also addresses a number of TrueCrypt’s security flaws and vulnerabilities.

AxCrypt is a leading encryption solutions provider, founded in 2001 to address the need for user-friendly data security on the Internet. With over 20 million downloads worldwide, AxCrypt has become one of the most popular encryption applications.AxCrypt makes data security accessible to individuals and small teams, boasting a highly motivated and creative team focused on simplicity and reliability in encryption solutions.

Bitdefender is a global leader in cybersecurity, offering solutions with high security effectiveness, performance, and user-friendliness. The company caters to small and medium businesses, mid-market enterprises, and individual consumers.Their commitment involves defending organizations and individuals worldwide from cyberattacks, aiming to transform and enhance their digital experiences.

CryptoLab is a pioneering company dedicated to revolutionizing the intersection of artificial intelligence and privacy. Specializing in homomorphic encryption, the firm aims to strike a balance between the convenience of data use and safeguarding personal information. By developing Private AI, CryptoLab envisions a future where individuals can benefit from AI applications without the fear of privacy exposure.

Fortra is a cybersecurity company that positions itself as a positive changemaker in the industry. The company focuses on solving problems, proactively protecting clients, and being a relentless ally against cyber threats. Fortra distinguishes itself by consolidating leading cybersecurity solutions into a best-in-class portfolio, offering a stronger defense from a single provider. They emphasize adaptability in the face of the everevolving threat landscape and prioritize collaboration with customers.

Inpher is a company specializing in Secret Computing®, a cryptographic technology that facilitates advanced analytics and machine learning models while ensuring the privacy, security, and distribution of data. They prioritize privacy and security in computing, offering enterprise products to realize this vision.

NewSoftwares LLC is dedicated to offering robust information security solutions to both immediate customers and long-term partners and clients. The company is actively involved in research and development, with a focus on creating and enhancing products using the latest technological standards. Their primary success lies in providing effective solutions in the areas of data privacy and encryption.

Ubiq allows engineering, security, and compliance teams to easily integrate client-side encryption into their applications, with an emphasis on being a developer-first encryption-as-code solution. Ubiq’s goal is to assist organizations in reducing breach risk, building secure-by-design applications, maintaining development velocity, and ensuring compliance with scalable auditability.

Verimatrix specializes in providing security solutions tailored for the modern connected world. The company focuses on safeguarding digital content, applications, and devices through security measures designed with a people-centered and frictionless approach.The company aims to enable trusted connections for its customers, allowing them to deliver compelling content and experiences to millions of consumers globally

Boxcryptor specializes in providing security solutions for cloud-based storage services such as OneDrive, SharePoint, Dropbox, Google Drive, and others. The company’s primary focus is on safeguarding company data stored in the cloud. Boxcryptor’s services likely include encryption measures to ensure the confidentiality and integrity of the data stored on these cloud platforms. In essence, Boxcryptor enables users and organizations to enhance the security of their files and sensitive information when utilizing various cloud storage services.