The mobile encryption market is expected to grow from USD 761.4 Million in 2017 to USD 2,917.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.8%. Proliferation of smartphones and tablets across enterprises,need for stringent compliance and regulatory requirements, and increased concerns for data security and privacy issues have led to the increased demand for mobile encryption solutions.
The mobile encryption market has been segmented based on components (solutions and services), applications, end-user types, deployment types, verticals, and regions. The services segment in components is expected to grow at the highest CAGR during the forecast period, while solutions are projected to have the largest market size in 2017, in the market. Security systems have to be upgraded on a regular basis to counter the newly available threats, attacks, ransomware, and sophisticated cyber criminals. As a result, companies are rapidly outsourcing their network security concerns to specialized service providers known as Managed Security Service Providers (MSSPs). Thus, among the services, managed services are expected to grow at the highest CAGR during the forecast period.
Cloud encryption is expected to grow at the highest CAGR during the forecast period in the applications segment owing to the ongoing expansive adoption of the cloud among companies across the world. Increase in the intensity and volume of cyber-attacks has further amplified data security concerns for organizations that have adopted cloud for data storage. This has encouraged the adoption of cloud encryption to safeguard sensitive information from security breaches and thefts. Disk encryption is estimated to have the largest market size in 2017. The increasing BYOD trend needs adoption of strong encryptions, which can protect confidential data, even if the device is lost or stolen.
The Small and Medium Enterprises (SMEs) segment is expected to grow at the highest CAGR in the mobile encryption market during the forecast period. The medium-sized companies are significantly growing in this market since mobile encryption solutions allow SMEs to protect their data and business information and provide secure real-time access facilities. Moreover, these solutions are available at economical pricings through the cloud.
AlertBoot Data Security
Certes Networks, Inc.
Check Point Software Technologies, Ltd.
Dell Technologies, Inc.
Gold Line Group Ltd.
Hewlett Packard Enterprise
Open Whisper Systems
Silent Circle, LLC
T-Systems International GmbH
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Mobile Encryption Market Analysis, By Component
7 Mobile Encryption Market Analysis, By Application
8 Mobile Encryption Market Analysis, By Deployment Type
9 Mobile Encryption Market Analysis, By End-User Type