Mobile Encryption Market to boost its value by year 2023

GLOBAL MOBILE ENCRYPTION MARKET was valued at USD 688.45 Million in the year 2017. Global Mobile Encryption Market is further estimated to grow at a CAGR of 27.89% from 2018 to 2023 to reach USD 3,011.87 Million. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. holds the notable market share in 2017 and it is projected to grow strongly in the coming years.

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Dell Inc. (US), BlackBerry Limited (Canada), MobileIron Inc. (US),IBM Corporation (US), Sophos Ltd. (UK), McAfee, Inc. (US) are some of the key players in the Mobile Encryption Market with IBM Corporation holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

Drivers:

• Increase in cyber-attacks
• The Rise in the number of smartphone users

Restraints:

• Increased operational cost

Opportunities:

• Rising Demand for Cloud-Based Mobile Encryption along with Integrated Solutions

Challenges:

• Security systems have to be updated regularly

Between Solutions, Support and Maintenance, Training and Education and Consulting falling under the component segment; because of the growing popularity and easy availability solution component is expected to be the highest market share during the forecast period.

On the other hand Cloud-based segment for this market is expected to grow at the highest CAGR during the year 2018-2023.

Key Benefits for Stakeholders

• Mobile encryption Manufacturers, Distributors, and Retailers
• Research and Consulting organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries
• Regulatory bodies, policy actors, and consumers.

By Component

• Solutions
• Support and Maintenance
• Training and Education
• Consulting

By Deployment

• Cloud-based
• On-Premises

By Industry

• IT & Telecom
• Healthcare
• Retail
• Media & Entertainment
• Manufacturing
• Banking, Financial Services, and Insurance
• Others

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

Key Market Players

• Dell Inc. (US)
• BlackBerry Limited (Canada)
• MobileIron Inc. (US)
• IBM Corporation (US)
• Sophos Ltd. (UK)
• McAfee, Inc. (US)

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This release was published on openPR.