Mobile Encryption Market is Expected to Grow at a CAGR of 25%, Reaching a Valuation of US$8.5 Billion from 2022-2030, Contrive Datum Insights

Contrive Datum Insights Pvt Ltd

Farmington, Jan. 13, 2023 (GLOBE NEWSWIRE) — The Mobile Encryption Market is estimated to reach a valuation of USD 8.5 Billion by 2030, growing at 25% CAGR during the assessment period 2022-2030. Mobile encryption protects the information on your smartphone by making it so that people who aren’t supposed to can’t get to it. The number of people who use the Internet and buy smart devices has gone up all over the world. Because of this, the chance of data fraud has also gone up.

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So, businesses, organizations, and people need to keep private information on their devices safe. Because of these things, the number of people who want to encrypt their phones has grown. This is the process of encrypting data on a device (like a cell phone) with a key. If your phone gets lost or stolen, encryption helps keep your information safe. As the number of smartphone users around the world grows, the market grows with it.

Mobile Encryption Market Recent Developments:

  • In 2009, IBM introduced homomorphic encryption for mobile phones. A computational method that allows data to be processed without having to decipher it.

  • In November 2020 Google launched end-to-end encryption for Android users. This end-to-end encryption makes it difficult for anyone, including law enforcement agencies, to read the contents of messages shared via mobile devices.

Mobile Encryption Market Segmentation Analysis:

Disk encryption, file/folder encryption, communication encryption, and cloud encryption are the four main parts of the market. Due to an increase in the number and severity of cyberattacks around the world, it is expected that the Cloud encryption segment will have the highest CAGR over the next few years.
Most of the market is likely to come from the BFSI segment. Because of these things, online transactions are getting more complicated, which is allowing payment providers to catch up with new technologies and offer better security.

Regional Outlook:

The US is one of the largest markets in the world for Mobile Encryption. IT and telecom companies in the US and Canada will be the ones who want to use mobile encryption. Also, mobile shopping, e-banking, and online shopping are becoming more popular, which is driving up the demand for mobile devices in North America. This, in turn, is driving the growth of Mobile Encryption. Also, mobile encryption solutions in the US are likely driven by the US government’s focus on rules for data protection and integrity. Mobile encryption solution providers are putting a lot of effort into research and development and making new products so they can offer new security solutions and get more customers.
Small and medium-sized businesses (SMEs) all over Europe are expected to use mobile communication technologies more and more. Also, the mobile encryption solutions on the European market technologies are integrated with AI and cloud computing. This lets organizations get actionable insights so they can focus on reducing their BYOD risks.

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Scope of Report:

Report Attributes

Details

Growth Rate

25% from 2023 to 2030

Revenue Forecast by 2030

USD 8.5 Billion

By Type

Disk Encryption, File/Folder Encryption,, Encryption, Cloud Encryption, Other

By Applications

BFSI, Healthcare & Retail, Government and Public Sector, Telecommunications and IT, Other

By Companies

McAfee(Intel Corporation), Blackberry, T-Systems International, ESET, Sophos, Symantec Corp, Check Point Software Technologies, Ltd., Dell, IBM, Mobileiron, BeiJing Zhiyou Wang’an Tech. Co. Ltd, CSG, Inc., Hewlett Packard Enterprise, Proofpoint, Inc., Silent Circle, Adeya SA., and others

Base Year

2022

Historical Year

2017 to 2021

Forecast Year

2023 to 2030

Mobile Encryption Market dynamics:

Drivers:

The Mobile Encryption market is growing because of a number of things. Government and private businesses have put in place strict rules to stop people from misusing the internet and to stop cyber-attacks and other threats. Also, the demand for smartphone encryption solutions goes up as more people use the internet and smartphones.

Opportunities:

Mobile phones that are encrypted help stop data breaches and leaks. As cloud-based work environments become more popular, there are more chances to sell Mobile Encryption. People are also choosing encryptions that offer unbreakable security and FDE (Full-Disk Encryption). This will help keep private and sensitive information on the phone safe if it gets lost or stolen. Since hackers and cyberattackers mostly go after smartphones, it is important to have encryption. The market for encryption grows because of these things. Restraints: There are a few things that could stop the global smartphone encryption market from growing.

Challenges:

A few things could make it hard for mobile encryption providers to do their jobs. Users of smartphones need encryption that makes it impossible to get back data that has been deleted. But it is possible to get the data back even after you delete it. With data encryption, you can get it back by putting the phone back to factory settings. So, encryption providers have to come up with solutions that make it impossible to get the data back, which can be hard to do. Also, encryption can be expensive, which makes it hard for providers to get people to encrypt their phones.

Mobile Encryption Market Key Segments Covered:

Top Market Players:
McAfee(Intel Corporation), Blackberry, T-Systems International, ESET, Sophos, Symantec Corp, Check Point Software Technologies, Ltd., Dell, IBM, Mobileiron, BeiJing Zhiyou Wang’an Tech. Co. Ltd, CSG, Inc., Hewlett Packard Enterprise, Proofpoint, Inc., Silent Circle, Adeya SA., and others.

By Type

  • Disk Encryption

  • File/Folder Encryption,

  • Encryption

  • Cloud Encryption

  • Other

By Application

  • BFSI

  • Healthcare & Retail

  • Government and Public Sector

  • Telecommunications and IT,

  • Other

Regions and Countries Covered

  • North America: (US, Canada, Mexico, and Rest of North America)

  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

  • Latin America: (Brazil, Argentina, Rest of Latin America)

  • rest of the world

Check out more related studies published by Contrive Datum Insights:

  • Optical Encryption MarketThe Global Optical Encryption Market size was valued at USD 3.09 Billion in 2020 and is projected to reach USD 5.96 Billion by 2028, growing at a CAGR of 8.54% from 2021 to 2030. Asia Pacific held the highest market share with 33.1% in 2020. Market growth in this region is mainly driven by major economies such as China, India, Japan, and others. According to the Indian Brand Equity Foundation (IBEF), India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion and has recorded strong growth over the past decade.

  • Homomorphic Encryption MarketHomomorphic Encryption Market is estimated to reach a valuation of USD 265.85 Million by 2030, growing at 7.45% CAGR during the assessment period 2022 to 2030. North America remains the market leader since 2018 and may continue to maintain its winning streak throughout the evaluation period. Factors such as an increase in small and medium-sized enterprises and increasing use of homomorphic encryption technology drive the market growth.

  • Mobile Virtual Network Operator Market The global mobile virtual network operator market size reached US$73.1 Billion in 2022. Looking forward, the market expects to reach US$119.6 Billion by 2030, exhibiting a growth rate (CAGR) of 7.36% during 2023-2030. Europe dominated the mobile virtual network operators market in 2019. This growth can be attributed to favorable regulatory frameworks that are expected to play a key role in developing mobile virtual network operators.

  • Mobile Phone Camera Module MarketThe global Mobile Phone Camera Module market is estimated to be valued at US$58,390.9 million in 2021 and is expected to exhibit a CAGR of 15.2% over the forecast period 2021-2030. Owing to a large number of companies in this sector and widespread use of consumer electronics, APAC dominated the camera module market in 2020, followed by Northern Europe and APAC with a market share of 32.6%.

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