Global Mobile Encryption Market Scope Report

Global Mobile Encryption Market Highlights Over 2023 - 2033

The global mobile encryption market is estimated to garner a revenue of USD 12.0 Billion by the end of 2033 by growing at a CAGR of ~25% over the forecast period, i.e., 2023 – 2033. Further, the market generated a notable revenue in the year 2022. The growth of the market can be attributed to the increasing adoption of cloud-based technology. Approximately, more than 65 per cent of enterprises across the globe have cloud-based infrastructure by 2021

GET A SAMPLE COPY OF THIS REPORT

Mobile encryption ensures that all data stored on a device is safe from unauthorized access. It would prevent someone from accessing your data, if the mobile was lost or stolen and protected with an encryption PIN or password. Therefore, an increasing number of mobile users is anticipated to surge the growth of the global mobile encryption market. More than 60 per cent of the total world’s population uses a mobile phone in the year 2021.

Global Mobile Encryption Market: Growth Drivers and Challenges

Growth Drivers

• Growth in Digitalization – Worldwide, there has been a shift going on from traditional platforms to digital platforms that is surging the concern for cybersecurity. Therefore, it is projected to rise the growth of the global mobile encryption market. According to the World Bank, the global digital economy accounted to 15.5 per cent of the GDP

• Rising Cyberattacks Cases– For instance, internet users across the globe witnessed data breaches of more than 50 million in the second quarter of the year 2022.

• High Adoption of Encryption Technologies- More than 55 per cent of the enterprises across the globe have their internet communications encrypted.

• Growing Bring Your Devices Trend– More than 60 per cent of organizations worldwide have adopted bring your own devices in 2022.

• Surging Penetration of Internet of Things – In the advancement of technology era, there is a growing concern related to the increasing cyber-attacks. Hence, it is expected to rise the growth of the global mobile encryption market. As per the National Council on Identity Theft Protection, the number of identity fraud cases in the United States has increased from 3.16 Million in 2018 to 5.74 Million in 2021.

Challenges

• High Cost for the Operation of Mobile Encryption

• Scarcity of Technical Professionals

• Lack of Awareness Among the End Users

The global mobile encryption market is segmented and analyzed for demand and supply by end user into aerospace, BFSI, government, healthcare, and others. Out of these, the healthcare segment is anticipated to hold the largest share over the forecast period owing to the increasing threat to patients’ health records, and surging medical fraud cases across the globe. For instance, more than 50 per cent of the healthcare organizations have more than 5 breaches in the United States.

Global Mobile Encryption Market Regional Synopsis

Regionally, the global mobile encryption market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 on the back of rising initiatives taken by the government for digital transformation and increasing adoption of cloud-based services.

Furthermore, the market in the Asia Pacific region is anticipated to witness fastest growth over the forecast period owing to the rising cybercrimes cases, and advancement in the technology. For instance, there was nearly 12 per cent upsurge in cybercrimes cases in India in 2020 from the previous year.

Market Segmentation

Our in-depth analysis of the global mobile encryption market includes the following segments:

Key Companies Dominating the Global Mobile Encryption Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global mobile encryption market that are included in our report are IBM Corporation, Oracle Corporation, Intel Corporation, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Check Point Software Technologies Ltd., Zix Corporation, Becrypt Limited, Symantec Corp. (Broadcom), Dell Technologies, Inc., and others.

Global Mobile Encryption Market: Latest Developments

• October, 2018: Oracle Corporation, announced the new cloud security technologies in order to help secure customer data and combat sophiscated cyber threats with the layers of defense

• December, 2020: IBM Corporation announced the launch of a new series that allows data to remain encrypted while being processed in third part environment.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.