Mobile Encryption Market 2019 Global Industry Trends, Statistics, Size, Share, Growth Factors, Emerging Technologies, Regional Analysis, Competitive Landscape Forecast to 2023
Overview
Mobile encryption refers to the protection of sensitive data on the phone such as photos, file, documents, or emails through the use of passcode, password, fingerprint, or pattern. In the event of mobile phone loss, it safeguards data by denying access to the device. The trend of mobile encryption is increasing proliferating among enterprises on account of growing concerns related to data privacy. Market Research Future (MRFR) has recently published a research report on the global mobile encryption market outlining the various key trend and patterns that could affect market growth over the forecast period of 2018-2023. The mobile encryption market was valued at USD 705.2 Mn in 2017 and MRFR projects the market to exhibit steep growth and reach USD 3,013.3 Mn at a CAGR of 27.75% over the forecast period.
The surging incidence rate of data breaches and cyber-attacks has created lucrative opportunities for the growth of the mobile encryption market. The proliferation of cloud technology subjects enterprises to the threat of cyber-attacks, which necessitates encryption to avoid sensitive data breaches. Additionally, regulatory norms such as GLBA, HITECH, HIPAA, and PCI DSS require enterprises to encrypt their sensitive data against potential threats, which further boosts the demand for mobile encryption. Among other obvious factors which are contributing to the market growth include increasing penetration of mobile devices and internet across the globe. The growing trend of BYOD is also inducing the need for encryption to protect enterprise critical data from leakage. Advancement in mobile encryption technology is also likely to push the market forward.
On the other hand, market growth might be hindered by a lack of awareness regarding mobile applications and budgetary constraints.
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Segmentation
The global mobile encryption market has been segmented based on component, application, deployment type, enterprise size, and vertical.
By component, the mobile encryption market is segmented into solution and services. The services segment has been further segmented into professional services and managed services.
By application, the mobile encryption market has been segmented into communication encryption, file/folder encryption, disk encryption, and cloud encryption.
By deployment type, the mobile encryption market has been segmented into cloud and on-premise.
By enterprise size, the mobile encryption market has been segmented into SMEs and large enterprises.
By vertical, the mobile encryption market has been segmented into BFSI, healthcare, telecom, retail, aerospace and defense, government and public sector, and others.
Competitive Landscape
Alertboot Data Security (US), Blackberry Limited (Canada), Intel Corporation (US), Symantec Corporation (US), IBM (US), Dell Technologies, Inc. (US), Certes Networks, Inc. (US), Sophos Ltd. (UK), Mobileiron, Inc. (US), and Communication Security Group (US)v are the notable players in the mobile encryption market.
Other players include Check Point Software Technologies, Ltd. (Israel), DataMotion, Inc. (US), Adeya SA (Switzerland), and T-Systems International GmbH (Germany).
Regional Analysis
Region-wise, the Mobile Encryption Market has been segmented into North America, Rest-of-the-World (RoW), Asia Pacific (APAC), and Europe.
The presence of wide consumer base using mobile phones in the region along with the early adoption of advanced technologies has driven the North America mobile encryption market. Deep internet penetration and established IT infrastructure Alsop favors market growth. North America is likely to capture the largest share of the global mobile encryption market. The North America market will be led the US and Canada since the major market players are based in these regions.
The APAC mobile encryption market is estimated to expand at the highest CAGR over the forecast period. Expanding consumer base of mobile phones, increasing penetration of internet, and the introduction of data privacy regulations in the developing countries of the region such as China, India, Japan are likely to propel the growth of the market.
Industry Updates
June 2019 – MongoDB, a cross-platform document-oriented database program, announced an update of MongoDB 4.2 with field level encryption. Field level; encryption is a more comprehensive and different approach than column encryption generally used in legacy and relational databases.
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
Continued……
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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 %)
Continued……
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