Mobile Encryption Market - Overview
The global Mobile Encryption Market is expected to exhibit a solid 27.75% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global mobile encryption market was valued at USD 705.2 million in 2017 and is expected to undergo robust growth over the forecast period to reach a valuation of more than USD 3 billion by 2023, according to the report.
The global mobile encryption market Trends is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition.
Major trends operating in the global mobile encryption market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report. Leading drivers and restraints operating on the global mobile encryption market are examined in the report.
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The impact of these major drivers and restraints on the global mobile encryption market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global mobile encryption market are also profiled in the research report. The competitive landscape of the global mobile encryption market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global mobile encryption market.
Mobile encryption is a way of keeping mobile data secure by scrambling it between transmissions. A key is needed to decipher the data at the receiver’s end, making it useless without the key. The growing threat of data theft has been a major driver for the global mobile encryption market over the last few years. The increasing proliferation of consumer electronics such as smartphones and tablets is likely to remain a major driver for the global mobile encryption market over the forecast period. The increasing user base of smartphones and tablets has led to an increasing usage of the same for conducting online transactions of various kinds. This has made mobile devices a prime target for data thiefs and other online attackers. This has led to various mobile manufacturers investing heavily in mobile encryption technology in recent years. Apple Inc. has been a leader in this regard. Apple, in fact, has even based their recent ad campaign on the enhanced security offered in their mobile phones, making good use of their investment in mobile encryption. This is likely to remain a major driver for the global mobile encryption market over the forecast period.
Leading players in the global mobile encryption market include T-Systems International GmbH, DataMotion Inc., Check Point Software Technologies Ltd., Adeya SA, Communication Security Group, Alertboot Data Security, Mobileiron Inc., Sophos Ltd., Certes Networks Inc., Symantec Corporation, Intel Corporation, Blackberry Ltd., IBM, and Dell Technologies Inc.
The global mobile encryption market is segmented on the basis of component, application, deployment, enterprise size, vertical, and region.
By component, the global mobile encryption market is segmented into solutions and services. The services segment is further sub-segmented into managed services and professional services.
By application, the global mobile encryption market is segmented into disk encryption, communication encryption, file/folder encryption, and cloud encryption.
By deployment, the global mobile encryption market is segmented into on-premise and cloud.
By enterprise size, the global mobile encryption market is segmented into large enterprises and SMEs.
By end use vertical, the global mobile encryption market is segmented into BFSI, aerospace and defense, healthcare, telecom, retail, government, and others.
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North America is likely to dominate the global mobile encryption market over the forecast period due to the growing awareness among consumers about the threat of data theft from their mobile devices. Players such as Apple Inc., which are major players in the mobile encryption market, are headquartered in the U.S., leading to steady growth of the mobile encryption market in North America.