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Mobile Encryption Market: Global Forecast until 2022

  • May 2017
  • 145 pages
  • ID: 5184194
In this report:
Europe is projected to account for the second largest market share of ##.##% of the overall mobile encryption market in 2017 and is expected to grow at a CAGR of ##.##% during the forecast period, as companies in this region are pushing for higher adoption of mobile encryption technologies owing to stringent compliances in various industries.

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"Need for stringent compliance and growing concern for data security are driving the mobile encryption market."

The mobile encryption market size is forecasted to grow from $761.40M in 2017 to $2917.90M by 2022, at a CAGR of 30.80 percent. The sector is influenced by Elements such as increased concerns for data security and privacy issues, the proliferation of smartphones and tablets across companies, and the need for strict compliance and regulatory requirements. On the other hand, rised operational expenditure and budget constraints are some of the main factors hindering the increase of the overall mobile encryption market.

"Cloud encryption application is anticipated to rise at the highest level rate during the outlook period."

The cloud encryption segment among the mobile encryption applications is expected to rise at the maximal rate during the estimate period, due to the increased adoption of cloud-based storage and applications across several business processes. Institutions are categorically embracing diverse cloud environments, ranging from private and hybrid to public, for the storage of vast amounts of info. Nevertheless, risks combined with content protection and data compliance remain to be the prime impediments for cloud embracement across businesses. Therefore, it encourages the adoption of cloud encryption to safeguard sensitive information from security breaches and thefts.

"BFSI market in the mobile encryption market is intended to have the biggest market share in 2017."

The Banking, Financial Services, and Insurance industry represents the more considerable adoption of mobile encryption out of all the industry verticals. The rising usage of mobile technology has enhanced the adoption of encryption solutions and services in financial organizations. Pressure from regulatory standards, including Advanced Encryption Standard and Payment Card Industry Data Security Standard has led firms in this industry to deliver security solutions with encryption software. Mobile encryption technology benefits banking and financial firms to cater to financial security, online fund transfer security, and data security by encrypting files, info, and emails.

"Asia-Pac is expected to grow at the highest CAGR (Compound annual growth rate)."

Asia Pacific (APAC) includes emerging economies, such as china (CN), Australia (AU), Singapore (SG), and India (IN), which are quickly deploying mobile encryption solutions. Asia-Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period. This is primarily due to the growing adoption of BYOD trends and strict compliance across various industry verticals, including BFSI, aerospace and defense, government, telecom, retail, and others. Moreover, North America (NA) is forecasted to have the biggest industry size in 2017

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, innovative products and technology directors, and executives from numerous main institutions operating in the mobile encryption market.

The breakup of the profiles of the primary participants is presented below:

• By Organization: Tier 1 - 18.0 percent, Tier 2 - 47.0 percent, and Tier 3 - 35.0 percent

• By Description: C-suite - 54.0 percent, D-level - 39.0 percent, Others - 7.0 percent

• By Area: North America continent - 69.0 percent, Europe (EU) - 15.0 percent, Asia-Pac - 9.0 percent, RoW - 7.0 percent

Segment Research

The mobile encryption market has been divided on the basis of components (solutions and services), applications, end-user types, deployment types, verticals, and localities. An in-depth study of the top industry actors has been done to furnish key aspects into their sector overview; products and services; top strategies; recent product launches; alliances, strategic agreements, and collaborations; business developments; and competitive landscapes combined with the mobile encryption market.

Reasons to Buy the Report

The market research will facilitate the market top players/new sector entrants in this sector in these ways:

• This document breaks down the mobile encryption market comprehensively and offers the best approximations of the revenue data for the global market and the sub-segments across different areas.

• The report benefits partners to apprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

• this business report is expected to benefit partners to comprehend the players better and acquire additional insights to better their rank in the business sector. The competitive outlook section includes competitor ecosystems, new industry product developments, alliances, and mergers and acquisitions.

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