Industry Outlook and Trend Analysis
The global Mobile Encryption Market was worth USD 0.36 billion in 2014 and is expected to reach approximately USD 4.00 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 30.69% during the forecast period. The major factors driving the mobile encryption market incorporate the rising usage of cell phones and tablets crosswise over undertakings, requirement for stringent consistence and administrative necessities, and expanded concerns for information security and protection issues. Besides, with the consequent increment in the selection rate of cloud-based mobile encryption arrangements, the mobile encryption advertise is foreseen to develop significantly amid the estimate time frame.
Component Outlook and Trend Analysis
The services section in components is anticipated to develop at the most astounding CAGR amid the estimate time frame, while arrangements are anticipated to have the biggest market measure in the upcoming years, in the market. Security systems must be redesigned regularly to counter the treats that are newly available, ransomware, attacks, and advanced cyber criminals. Hence, organizations are quickly outsourcing their network security issues to specialized service providers recognized as Managed Security Service Providers (MSSPs). Thus, among the services, managed services are foreseen to develop at the most elevated CAGR amid the forecast period.
Application Outlook and Trend Analysis
Cloud encryption is anticipated to develop at the most astounding CAGR amid the figure time frame in the applications portion attributable to the progressing broad implementation of the cloud among organizations over the world. Increment in the force and volume of cyber-attacks has additionally enhanced the concerns related to the security of data for companies that have implemented cloud for information storage. This has empowered the usage of cloud encryption to shield delicate data from security ruptures and burglaries. Plate encryption is assessed to have the biggest market estimate in 2017. The expanding BYOD slant needs usage of solid encryptions, which can ensure secret information, regardless of whether the gadget is lost or stolen.
End User Outlook and Trend Analysis
The Medium and Small Enterprises (SMEs) portion is anticipated to develop at the most astounding CAGR in the mobile encryption market amid the figure time frame. The medium-sized organizations are fundamentally developing in this market since mobile encryption arrangements enable SMEs to ensure their information and business data and give secure continuous access. In addition, these arrangements are accessible at temperate pricings through the cloud.
Deployment Outlook and Trend Analysis
The cloud deployment type is foreseen to develop at the most astounding rate in the mobile encryption market amid the estimate time frame. This kind of deployment requires less capital venture, offers high adaptability, and is accessible through membership based valuing models, along these lines, having the quickest development rate and the biggest share of the market.
Vertical Outlook and Trend Analysis
On the basis of vertical Telecom and healthcare sectors are foreseen to develop at highest CAGRs in the upcoming years owing to the rising amount of personal and health-related information stored tablets, on cell phones and the Internet. Most of the telecom companies depend on communication encryption for safeguarding the information in motion, like calls and messages for their clients.
Regional Outlook and Trend Analysis
North America is foreseen to have the biggest share of the market in 2017, while the Asia Pacific (APAC) is anticipated to develop at the most astounding CAGR from 2017 to 2022, in the market. This is primarily in light of the fact that the associations in the developed countries of the United States and Canada are exceptionally engaged toward the early implementation of inventive arrangements acquired from innovative work in security advances.
The leading players in the market are Open Whisper Systems, AlertBoot Data Security, Inc, BlackBerry Limited, Certes Networks, Gold Line Group Ltd, MobileIron, Hewlett-Packard and IBM.These organizations have implemented different methods such as development of new products; mergers and acquisitions; agreements, partnerships, collaborations and contracts; and business expansions to cater to the mobile encryption market.
The Mobile Encryption Market is segmented as follows-
By End User:
Small and Medium Enterprises (SMEs)
By Deployment Type:
Government and public sector
Banking, Financial Services, and Insurance (BFSI)
Aerospace and Defense
Aerospace and Defense
Telecommunications and IT
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?