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(Hosting-NewsWire.com, October 29, 2019 ) According to new market research report on "Mobile Encryption Market by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, and Cloud Encryption), End-User Type, Deployment Type, Vertical, and Region - Global Forecast to 2022", The mobile encryption market size 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%.
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The key forces driving the mobile encryption market include the proliferation of smartphones and tablets across enterprises, need for stringent compliance and regulatory requirements, and increased concerns for data security and privacy issues. Moreover, with the subsequent increase in the adoption rate of cloud-based mobile encryption solutions, the mobile encryption market is expected to gain a major traction during the forecast period.
“Telecom sector is expected to grow at the highest rate during the forecast period.”
Telecom and healthcare sectors are expected to grow at the highest CAGRs from 2017 to 2022, in the mobile encryption market, due to the increase in the amount of personal and health-related data being stored on cell phones, tablets, and the Internet. The majority of the telecom companies rely on communication encryption for securing the data in motion, such as calls and messages for their customers.
“Disk encryption application is expected to have the largest market share in 2017.”
Disk encryption is expected to have the largest market share and dominate the mobile encryption market from 2017 to 2022, due to growing demands for hardware-based encryptions that ensure data security at the source. With the increase in the BYOD trend, employees have the freedom to carry personal devices and exchange of critical data via personal devices is made possible. Adoption of strong encryptions can protect the confidential data, even if an employee’s device is lost or stolen.
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“North America is expected to contribute to the largest market share; Asia Pacific to grow the fastest during the forecast period.”
North America is expected to have the largest market share and dominate the mobile encryption market from 2017 to 2022, owing to the early adoption of new and emerging technologies and the presence of a large number of players in this region. APAC offers extensive growth avenues in the mobile encryption market, owing to a widespread presence of SMEs that are implementing enhanced mobile encryption solutions to prevent unauthorized access to critical business data and unethical use of confidential information.
The major vendors providing mobile encryption solutions are Adeya SA (Morges, Switzerland), AlertBoot Data Security (Las Vegas, US), Becrypt, Ltd. (London, UK), BlackBerry Ltd. (Ontario, Canada), CSG, Inc. (Washington, US), Certes Networks, Inc. (Pennsylvania, US), Check Point Software Technologies, Ltd. (Tel Aviv, Israel), DataMotion, Inc. (New Jersey, US), Dell Technologies, Inc. (Texas, US), ESET (Bratislava, Slovakia), Gold Line Group Ltd. (Israel), Hewlett Packard Enterprise (California, US), Huawei Technologies Co. Ltd. (Shenzhen, China), IBM Corporation (New York, US), Intel Corporation (California, US), KoolSpan, Inc. (Maryland, US), MobileIron, Inc. (California, US), Open Whisper Systems (California, US), Proofpoint, Inc. (California, US), SecurStar (Munich, Germany), Silent Circle, LLC (Le Grand-Saconnex, Switzerland), Sophos Ltd. (Abingdon, UK), Symantec Corporation (California, US), T-Systems International GmbH (Frankfurt, Germany), and Zix Corporation (Texas, US).
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