Mobile Encryption Market Size, Opportunities, Trends, Growth Factors, Revenue Analysis, For 2020

The global mobile encryption market is forecast to reach USD 7.39 Billion by 2026, according to a new report by Reports and Data. With the rise in usage of mobile devices, more businesses are using mobile devices to store, process, and transmit card data.

The rise in technology also increases security concerns. Encryption offers protection to data that are saved on a device by converting the data into a format that people are unable to read without a key. Mobile security breaches happen in many different forms, and not only just through the cloud. Other external resources, such as Wi-Fi, charging stations, and third-party apps, are also sources of breaches.

An example of security risk is a popular app called Pokemon Go. The first version of the online game put user's data at risk by signing away their personal data, as the iOS app gave users permission to play if only they agreed to provide full access to all of their Google account information.

With the advent of IoT, more and more people are connecting their security cameras and lighting systems to their mobile phones through apps without really understanding that they are opening up a new line of access for hackers. The benefit of strong encryption is the extra level of protection it provides for one’s personal information.

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Further key findings from the report suggest

BFSI dominated the market and is forecasted to grow with a CAGR of 29.8% during the forecast period. With banking going digital, more of the bank account information and passwords of the customers are coming on mobile devices, such as personal pictures.
Secure Sockets Layer (SSL) and Transport Layer Security (TLS) are being used by banks to encrypt their traffic to address issues such as confidentiality, controlling access, and reducing exposure to protocol-specific attacks.
Service systems need to be upgraded on a regular basis to fight against the attacks, threats, and sophisticated cybercriminals. Companies are increasingly outsourcing their network security concerns to specialized service providers, also known as Managed Security Service Providers (MSSPs).
Disc encryption encrypts all the files stored on the drives, including the operating system/file system. It encrypts everything on the drive, including temporary files and swap space, increasing the security of all your data, and not just card data. If deployed on all in-scope systems, the card data would be guaranteed encryption.
Small and Medium-sized enterprises are growing at a CAGR of 29.1% during the forecast period. Mobile encryption allows enterprises to protect their data and business information and provide secure real-time access facilities. They are also available at economical pricing.
Cloud deployment requires less capital investment, provides high scalability, and is also available through subscription-based pricing models. The segment held a market share of 59.2% in the year 2018.
North America led the market for mobile encryption. Approximately 47% of the mobile devices in the United States have complete disk encryption. With the rise in encryption, these devices could become inaccessible to law enforcement. Thus the government is regulating the encryption market. Tech giants such as Google are facing obstacles and restrictions.
Key participants include IBM, Sophos, Alertboot, Blackberry, McAfee, Dell, Eset, Certes Networks, Symantec, and Mobileiron, among others.

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Mobile Encryption Market Segmentation:

Component Outlook (Revenue: USD Billion; 2016-2026)

Software
Services

Application Outlook (Revenue: USD Billion; 2016-2026)

Disk Encryption
File/Folder Encryption
Cloud Encryption
Communication Encryption

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

Small and Medium enterprises
Large Enterprises

Deployment Mode Outlook (Revenue: USD Billion; 2016-2026)

On-Premises
Cloud

Industry Verticals Outlook (Revenue: USD Billion; 2016-2026)

BFSI
Healthcare
Telecom
Aerospace and Defense
Retail
Government and Public Sector

Regional analysis covers:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In addition to corporate strategy, Mobile Encryption market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.

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Market Report includes major TOC points:

Global Mobile Encryption market Overview
Global Economic Impact on Industry
Global Market Analysis by Application
Global Market Competition by Manufacturers
Global Production, Revenue (Value) by Region
Industrial Chain, Sourcing Strategy and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders, Sales Statistics
Industrial Chain, Sourcing Strategy and Downstream Buyers
Global Supply (Production), Consumption, Export, Import by Regions
Global Production, Revenue (Value), Price Trend by Type
Manufacturing Cost Analysis, Market Revenue, Industry Sales, Suppliers
Market Effect Factors Analysis
Global Mobile Encryption market Forecast

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Finally, all aspects of the Mobile Encryption market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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