Westford, USA, Jan. 18, 2023 (GLOBE NEWSWIRE) — Increasing ICT usage across industries and the corresponding necessity to secure service users’ private data has resulted in higher demand for encryption software, which is likely to fuel market revenue growth. Organizations employ encryption software to protect their data while sharing it from one remote place to another. The encryption software’s primary goal is to protect data from unauthorized users. Furthermore, many enterprises worldwide adopt encryption to address their growing worries about data security and privacy compliance standards.
Cyber-attacks and data losses have escalated due to increased reliance on mobile technologies. According to SkyQuest’s market insight, 4G technology occupied 61% of the mobile technology market in 2021, and 5G technology has already started rolling out in several countries. As a result, the integration of encryption software has become a critical component of data security and secure data transfer in the twenty-first century.
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Large Enterprise Segment to Drive High Software Adoption Due to Need for Robust Strategy to Mitigate Security Threats
As per SkyQuest’s market insights, the large enterprise segment accounted for a dominant share of 34.5% in 2021 and is predicted to post a higher CAGR of 17.3% during the forecast period. Encryption software is expected to gain high traction among large enterprises due to increased digitalization coupled with growing online banking services and e-commerce operations. In addition, large enterprises and leading government infrastructures are more resilient to cyber assaults than SMEs, thanks to a sophisticated risk-mitigation plan.
Large organizations are early encryption users because they employ many personal consumer data and have various business applications vulnerable to cyber-attacks. In addition, a diverse workforce’s widespread use of company data has also increased the risk of data misuse, unlawful access, and data theft. North America held the dominant position in the category and is projected to continue in the same position in the coming years.
SkyQuest’s most recent encryption software market report thoroughly examines the industry’s major drivers, restraints, segmentation, trends, competitive landscape, and other critical elements. The report comprehensively analyses the entire market and its segments and sub-segments using accurate classifications. Furthermore, thorough analysis and evaluation are carried out utilizing trustworthy primary and secondary data sources and feedback from industry professionals.
Solution Segment’s Growth to Take a Giant Leap in the Encryption Software Market
As per SkyQuest’s estimates, the solution segment held 54% of revenue share in 2021 and is expected to witness a high revenue share growth to surpass 63% by 2028. The solutions segment is likely to grow at a high rate throughout the forecast period due to the growing requirement to ensure the privacy and data protection of service users and organizations’ information. The solutions provide that enterprises can secure sensitive data while protecting digital information privacy. It is implemented by using complicated algorithms to scramble the data being delivered. After the data has been received, it can be decrypted with the help of a key provided by the originator.
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Solutions for securing extremely sensitive data are widely used in the BFSI and healthcare industries. Furthermore, solutions boost client trust by boosting the integrity of stored data and protecting it from fraudsters. Europe and North America, as IT hubs, are particularly vulnerable to cyber-attacks. As a result, they have made more data security investments to mitigate such disasters.
The encryption software market research examines segment growth. It assists you in identifying different pockets of growth and market approaches to discover your primary application areas and the difference in your target markets. Market research evaluates complex data in simple terms and presents the industry’s past and current position and predicted market size and trends.
Key Developments in Encryption Software Market
- SandboxAQ, a provider of artificial intelligence and quantum computing solutions, announced the acquisition of Cryptosense SA, a provider of cyber security and encryption analysis tools, for an unknown sum. Cryptosense’s service handles compliance issues before deployment, including detecting and remedying potentially dangerous flaws. In addition, the system integrates into continuous integration/continuous delivery and supports software, hardware, and cloud cryptographic services.
- IronCore Labs, the premier provider of data security for modern cloud applications, has announced the release of Cloaked Search 2.0, an encrypted search proxy that safeguards data in Elasticsearch and OpenSearch. Cloaked Search encrypts sensitive information before it is sent to the search service. Only those who have the correct key can search the data. The search index is worthless to unauthorized users who do not have the key, including cloud platform administrators.
- Echoworx, the market leader in cloud-based email and statement encryption, announced a collaboration with Saepio Information Security to provide next-generation safe delivery of confidential and sensitive information to any email recipient. Cybercrime and data breach dangers are continuously evolving; having cyber and information security that changes with it is critical for keeping data safe and meeting client needs and regulatory obligations.
- Dropbox has announced intentions to deliver end-to-end encryption to its corporate users by acquiring “critical assets” from the German cloud security company Boxcryptor. Dropbox can access the keys and view any content that passes through. In addition, Boxcryptor adds an extra layer of protection on the client side with so-called “zero knowledge” encryption, allowing the user complete discretion over who can decode their data.
The research report on the encryption software market includes accessible prospects for stakeholders to invest in micro markets and a complete analysis of key companies’ competitive landscape and product offerings. Furthermore, the researchers conducted a comparative study of the market growth rate with product sales to help business owners identify the success or failure of a particular product or service.
Key Questions Answered in Encryption Software Market Report
- What is the projected market size and CAGR for the encryption software market for the forecast period?
- Which region’s market is likely to take a dominant market share during the forecast period?
- What recent industry developments will impact the market’s future growth?
- What are leading participants considering as the best strategy for their business expansion?
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Prominent Players in Encryption Software Market
- Amazon Web Services, Inc. (AWS)
- Cisco System, Inc.
- Check Point Software Technologies
- IBM Corporation
- Fortinet, Inc.
- Oracle Corporation
- Microsoft Corporation
- Trend Micro Incorporated
- Palo Alto Networks, Inc.
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Confluence former executive joins fintech Premialab
James Carrington, a former executive at Confluence, Investment Metrics, Style Analytics has joined fintech Premialab. He brings extensive client engagement expertise in investment analytics and data for the institutional investment community.
LONDON, Feb. 27, 2024 /PRNewswire/ — Premialab, the financial data and analytics firm, announced today the appointment of James Carrington as Head of Client Engagement. Mr. Carrington, based in London, will spearhead global client engagement, leveraging over 10 years of experience in driving client engagement gained at Investment Metrics, Style Analytics, and most recently at Confluence, part of the Clearlake Capital Group portfolio. His primary focus will be on enabling faster tailor-made investment analytics delivery and data integration for Premialab’s pension funds, foundations, endowments, and insurance clients.
Adrien Geliot, Co-Founder & Chief Executive Officer of Premialab, said, “I am delighted to welcome James to the team. His appointment confirms our commitment to delivering first-class service to our customers across global locations. His experience in maximizing the value derived from investment analytics will be invaluable in serving our clients as we continue scaling our activities worldwide.”
Commenting on his appointment, James Carrington said, “I am delighted to have joined the Premialab team. Their innovative solution makes a real difference to institutional investors looking at quant investments. The evolution of Premialab over the last number of years has been something that I have followed closely, and I am looking forward to working with the team to further support our customer base across our established and emerging demographics.”
The announcement follows recent senior appointments at Premialab, including Philippe Jacson, former BNP Paribas, Merrill Lynch and MSCI executive; Daniel Fields, former Global Head of Markets at Societe Generale; John Macpherson, former Managing Director at Goldman Sachs, Citibank, and Nomura; Marc Fisher, former Managing Director at Citibank with a prior position at Deutsche Bank; and Georgios Sittas, former Managing Director at HSBC, Standard Chartered, and previously a director at Lehman Brothers.
Recognized as the reference for data and risk analytics on quantitative strategies, Premialab’s capital markets infrastructure is currently used by leading asset managers, insurance companies and pensions funds, accelerating their digitalization and enhancing performance and risk control while reducing costs. The platform’s client AUM is representing an estimated USD$10 trillion.
Premialab is an independent platform providing data, analytics and risk solutions on systematic and factor-based strategies in collaboration with leading investment banks and institutional investors globally. Combining intelligent technology with a unique source of information the platform empowers asset allocators to make better investment decisions whilst achieving utmost time and cost efficiency.
With offices in London, Paris, New York, Hong Kong, Sydney, and Dubai, its international team is dedicated to supporting a global client base with the most up-to-date risk premia dataset, advanced portfolio construction, performance and risk analytics. The firm has established strong partnerships with the top 18 investments banks, global asset managers, pensions funds and insurance companies.
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Axon Technologies and Keyrus Announce Strategic Partnership to Elevate Cybersecurity Business
Keyrus Acquires Minority Stake in Axon Technologies, adding Axon’s Cybersecurity Portfolio to Keyrus Solutions, and Expanding Keyrus Reach across Middle East and Africa
PARIS and DUBAI, UAE, Feb. 27, 2024 /PRNewswire/ — In a significant development in the cybersecurity sector, Keyrus, an international leader in data intelligence and digital transformation, has announced the acquisition of a minority stake in Axon Technologies, a premier provider of cybersecurity services based in Dubai, UAE. This strategic investment marks a major milestone in Keyrus’ cybersecurity strategy, signalling an ambitious step towards establishing a global cybersecurity powerhouse.
Strategic Expansion and Enhanced Cybersecurity Solutions
The collaboration between Keyrus and Axon Technologies is set to revolutionize the cybersecurity landscape in the Middle East and Africa, particularly with Keyrus’ entry into the lucrative Saudi Arabian market. This move enables Keyrus to pursue its investment in a newly formed cybersecurity business, offering enhanced data security solutions to both existing and new clients.
Eric Cohen, Founder and CEO of Keyrus, expressed his enthusiasm: “This investment in Axon Technologies marks a significant step in our cybersecurity strategy. We’re embarking on an exciting journey to amplify our cybersecurity capabilities and establish a world-class global player in this domain. Axon Technologies’ innovative approach to consulting and managed services aligns perfectly with our vision and culture. We eagerly anticipate integrating Axon into our ecosystem to bolster our cybersecurity solutions and address the digital security challenges of our clients.”
Hadi Hosn, CEO of Axon Technologies, also shared his thoughts: “This partnership marks a new era for Axon Technologies, propelling us further in our mission to protect organizations from cyber threats. We admire the Keyrus vision and believe that our combined strengths will lead to disruptive data and cybersecurity solutions, addressing critical challenges in digital identity, application security, API, and data security across various environments and industries.”
Hadi Darwiche, Chairman of DIV Capital & Co-founder of Axon Technologies: “It’s gratifying to see Axon Technologies grow from a concept into a key player in the cybersecurity field. With Keyrus joining forces with us, we anticipate a period of sustained growth, leveraging our combined experience and established reputations. We are confident that together, Axon Technologies will continue to extend its market presence and deliver top-tier solutions.”
Comprehensive Cybersecurity Portfolio and Global Reach
In a relatively short period, Axon Technologies, founded in 2020, has emerged as a beacon of excellence and innovation in the cybersecurity field, demonstrating remarkable growth and agility in its operations. With a revenue of $3.2 million USD in 2023 and a projected substantial increase of the activities, it represents a testament to its robust business model, exceptional service delivery, and the trust clients place in Axon Technologies. The team made of 30 dedicated professionals is its most valuable asset. Axon Technologies commits to growing its team, fostering a culture of innovation, collaboration, and continuous learning.
Axon Technologies, renowned for its expertise in cybersecurity, will now be able to leverage Keyrus global presence and capabilities. With headquarters in Dubai and a significant footprint in the Middle East, Europe and Africa, Axon Technologies is well-positioned to monitor threats and support client cybersecurity programs across these regions effectively. With the backing of Keyrus’s global network, Axon Technologies is poised for unprecedented growth and are dedicated to setting new standards in the cybersecurity landscape.
The partnership is also expected to enhance the offerings of both companies. Axon Technologies’ expertise in Data Security, Cloud Security, DevSecOps and Managed Security Services aligns seamlessly with the Keyrus strategic objectives in digital, data, AI and cloud transformation initiatives.
About Axon Technologies
Axon Technologies offers comprehensive cybersecurity services including consulting, managed security services, engineering, and testing. The company is a leader in addressing critical infrastructure customers’ cybersecurity needs, from strategic consulting to hands-on management and technical security engineering support and managed security services, ensuring a robust and comprehensive approach to cybersecurity. The company’s service portfolio includes:
Technical Security Consulting & Advisory: Guidance and expertise for technical cybersecurity programs.Advanced Security Testing: Rigorous cybersecurity testing across the environment to identify and address vulnerabilities.Security Engineering & Architecture: Designing and implementing robust security architectures across on-premises and cloud environments.Managed Security Services: Ongoing management and support of cybersecurity operations. About Keyrus
Keyrus, an international player in the consulting and technology sectors and a specialist in data and digital technology, is dedicated to helping enterprises take advantage of the data and digital paradigm to enhance their performance, facilitate and accelerate their transformation, and generate new drivers of growth and competitiveness.
Placing innovation at the heart of its strategy, Keyrus develops a value proposition that is unique in the market and centred around five major service groups, each comprised of multiple solutions:
Automation and Artificial IntelligenceHuman-Centric Digital ExperienceData and Analytics enablementCloud and SecurityBusiness transformation and InnovationBuilding on the combined expertise of more than 3,500 employees active across 27 countries and 4 continents, Keyrus is one of the leading international experts in data, consulting and technology.
Keyrus is listed on Euronext Growth Paris. (ALKEY – ISIN Code: FR0004029411 – Reuters: KEYR.PA – Bloomberg: ALKEY: FP).
About DIV Capital
DIV Capital, originally starting as a family office, now operating as a strategic investment holding firm, specializing in bespoke advisory services. The firm focuses on fortifying family capital through comprehensive offerings that encompass support for early-stage enterprises, strategic asset allocation, and robust governance infrastructure development. The firm operates out of Geneva and Dubai and provides three core services:
Family Asset Support: Tailored support to construct an asset allocation that meets wealth goals.Family Financial Sponsorship: Reinforcement for family-operated businesses, aimed at fostering enduring value creation.Governance and Reporting: Consultation on governance frameworks and the enhancement of reporting standards for comprehensive asset oversight.Forward Looking Statements
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Axon Technologies, Keyrus or DIV Capital do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will the companies and the affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
Contact: [email protected]
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NDC Group and Valantic form a strategic partnership in EPM solutions
PRAGUE, Feb. 27, 2024 /PRNewswire/ — NDC Group, a leading company in enterprise performance management (EPM) consultancy and data analytics is pleased to announce a strategic partnership with valantic, renowned digital solutions, consulting, and tech innovation company. Through this partnership, the companies aim to offer a joint portfolio of solutions and services in SAP planning and analytics.
Central to this collaboration is the delivery of NDC Financial Consolidation, which offers an automated and streamlined approach to legal and managerial consolidation. While the solution draws inspiration from the concept and functions of previously popular SAP consolidation solutions, it utilizes the modern technologies to enhance automation, performance, user experience, and seamless data integration.
The partnership also gives the chance to offer additional products, including SAC workforce planning content, SAP BusinessObjects migration accelerators, and pre-built content for SAC financial planning. Overall, the combined expertise and product offering enhance the ability of both companies to support customers in driving data-driven transformations within their organizations.
Stefan Blinkmann, Head of SAP Analytics at valantic, emphasizes: “We are very pleased about our new partnership, and we are convinced that our customers will benefit greatly from it. Above all, the NDC Group’s products create added value in the area of consolidation based on SAP Analytics Cloud, and they expand valantic’s range of services. An integrated solution for reporting, planning, and consolidation in SAP Analytics Cloud provides multiple benefits for our customers and enables them to streamline their system landscape.”
Karel Jirik, Head of Products at NDC Group, is also convinced of the benefits of this collaboration: “Our partnership with valantic is an excellent opportunity to leverage the synergies between our teams to streamline and transform our customers’ data landscape. The jointly offered EPM solutions enable precise and swift decision-making and enhance operational efficiency, crucial elements in today’s competitive landscape. I’m particularly pleased we found a lot of commonalities with valantic, and I am convinced together we can deliver better solutions in a shorter time.”
Vladislav Stefanak, CEO of NDC Group, reflects on the partnership’s potential: “This partnership embodies my vision of equipping our clients with advanced functionalities reminiscent of those found in SAP BPC and SAP Financial Consolidation, yet significantly enhanced by leveraging top-tier SAP technologies. Our collaboration with valantic commenced with remarkable synergy from the outset, underpinned by their extensive expertise and knowledge base.”
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