The mobile encryption market is witnessing a radical change in the market demography as it is being more functional than before. The global mobile encryption market possibly can achieve a remarkable CAGR of 27.75% during the forecast period 2018–2023, while being valued USD 3,013.3 million in the same period, says the latest report furnished by Market Research Future (MRFR).
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Market Drivers & Trends
The market for mobile encryption is rising owing to the rising number of data frauds, which has been notably one of the important factors. The increasing data security risks, across the world, is creating a substantial demand for the market with the help of emerging information technology.
At the same time, one of the most important factors for rising demand for mobile encryption is the growth of mobile devices such as smartphones and tablets. With this, the rising internet penetration is also making smartphones to target for data frauds. Apart from this, the public and private organizations have also laid some stringent regulations regarding data protection which is further creating the need for mobile encryption, thus contributing in the market growth.
As an add-on, the mobile encryption has enormous opportunities owing to rising trend of cloud-based mobile encryption solutions. In case of point, among major smartphone operating system provider, Apple iOS is the largest provider of mobile FDE across the globe, which is making the market more reliable and thus growing rapidly each year passing by.
On the flip side, the factors such as lack of awareness, budget constraints and encryption key management can hamper the growth of the global mobile encryption market during its growth period.
The vital players in the Mobile Encryption Market are listed as Inc. (US), IBM (US), Certes Networks, Intel Corporation (US), Mobileiron, Inc. (US), Dell Technologies, Inc. (US), Sophos Ltd. (UK), Blackberry Limited (Canada), Alertboot Data Security (US), Symantec Corporation (US), and Communication Security Group (US). These players actively contribute a major share in the growth of Mobile encryption market.
Apart from the above top key players, there are other players that contribute to the market growth. They are Check Point Software Technologies, Ltd. (Israel), DataMotion, Inc. (US) and T-Systems International GmbH (Germany), Adeya SA (Switzerland), and to name a few.
The segmental analysis of the global mobile encryption market has been conducted among the elements of component, application, deployment type, enterprise size and vertical.
Among the component segments, the market comprises of solution and services. The services segment is further bifurcated into managed services and professional services, whereas, the solution segment is recorded to be the largest revenue generating segment. At the same time, this segment is anticipated to continue its leadership throughout the forecast period.
Among the application type, the market involves disk encryption, communication encryption, file/folder encryption, and cloud encryption.
Among the deployment type, the market involves on-premises and cloud.
Among the enterprise size, the market involves SMEs and large enterprises.
Among the vertical, mobile encryption market includes BFSI, aerospace and defense, healthcare, telecom, retail, government and public sector and many more.
Beachhead Solutions, provider of cloud-managed PC & mobile device encryption, security, and data access control for Managed Service Providers (MSPs), announced the 6.5 release of SimplySecure for MSPs. It allows its partners to easily implement and manage device security on their the PCs, Macs, USB storage devices, mobile phones, tablets, and servers of their clients.
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The regional analysis of mobile encryption market is studied for the key regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among the above regions mentioned, North America is likely to lead the mobile encryption market in support of a number of factors such as adoption of large number of smartphone, rising internet penetration, advanced IT infrastructure. These are creating demand for mobile encryption the North America region. Besides, as US and Canada are developed economies, they primarily focus on adopting new and innovative solutions in security segment, which leads to a surged demand for mobile encryption.
The Asia Pacific region is also likely to observe a soaring growth rate in support of the rising implementation of BYOD and stern compliance throughout various industry verticals, such as government, retail, BFSI, aerospace & defense, and telecom. Countries, such as Australia, China, India, Japan, and Singapore. These countries are progressively adopting mobile encryption solutions owing to the surging need to safeguard data & information against advanced cyber threats. With this, the growing implementation of cloud-based solutions are also thereby driving the industry size considerably.
LIST OF TABLES
Table 1 Mobile Encryption Market, By Region, 2018–2023
Table 2 North America: Mobile Encryption Market, By Country, 2018–2023
Table 3 Europe: Mobile Encryption Market, By Country, 2018–2023
Table 4 Asia-Pacific: Mobile Encryption Market, By Country, 2018–2023
Table 5 Middle East & Africa: Mobile Encryption Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Mobile Encryption Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Mobile Encryption Market
FIGURE 4 Value Chain Of Global Mobile Encryption Market
FIGURE 5 Share Of Global Mobile Encryption Market In 2017, By Country (In %)
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