Mobile Encryption Market 2020 Analysis, Size, Share, Strategies and Forecast to 2027: IBM, Sophos, Alertboot, Blackberry, McAfee, etc.

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.

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Key participants include IBM, Sophos, Alertboot, Blackberry, McAfee, Dell, Eset, Certes Networks, Symantec, and Mobileiron, among others.

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.

For the purpose of this report, Reports and Data have segmented into the global Mobile Encryption Market on the basis of component, application, organization size, deployment mode, end-users, and region:

Regional Outlook (Revenue: USD Billion; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

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

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Industry Verticals Outlook (Revenue: USD Billion; 2016-2026)
1. BFSI
2. Healthcare
3. Telecom
4. Aerospace and Defense
5. Retail
6. Government and Public Sector

Further key findings from the report suggest

1. 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.

2. 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.

3. 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.

4. 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.

5. 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).

Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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