The mobile encryption market is expected to grow at a CAGR of 25% to reach a valuation of $8.5 billion between 2022 and 2030, Contrive Datum Insights

The mobile encryption market is expected to grow at a CAGR of 25% to reach a valuation of $8.5 billion between 2022 and 2030, Contrive Datum Insights

Contrive Datum Insights Pvt Ltd.

Farmington, January 13, 2023 (GLOBE NEWSWIRE) — Mobile encryption market estimated at US$8.5 billion by 2030, increasing by 25% per year during the 2022-2030 assessment period. Mobile encryption protects the information on your smartphone by making it so that people who shouldn’t be able to access it can’t access it. The number of people using the Internet and buying smart devices around the world has increased. This also increased the possibility of data fraud.

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As such, businesses, organizations, and individuals need to keep personal information safe on their devices. 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 (such as a mobile phone) using a key. If your phone is lost or stolen, encryption will help keep your information safe. As the number of smartphone users around the world grows, so does the market.

Mobile encryption market Recent improvements:

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

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

Mobile encryption market Segment analysis:

Disk encryption, file/folder encryption, communication encryption, and cloud encryption are the four main market segments. Due to the increase in the number and severity of cyberattacks around the world, the cloud encryption segment is expected to have the highest CAGR over the next few years.
Most of the market is likely to be in the BFSI segment. Because of these things, online transactions are becoming more complex, which allows payment providers to embrace new technologies and provide a higher level of security.

Regional overview:

The US is one of the largest mobile encryption markets in the world. IT and telecommunications companies in the US and Canada will be the ones who want to use mobile encryption. In addition, mobile shopping, electronic banking and online shopping are becoming more popular, driving demand for mobile devices in North America. This, in turn, drives the growth of mobile encryption. In addition, mobile encryption solutions in the US are likely driven by the US government’s focus on data protection and integrity regulations. Mobile encryption solution providers put great effort into R&D and new product creation to offer new security solutions and attract more customers.
Small and medium-sized businesses (SMEs) across Europe are expected to use mobile technologies more and more. In addition, mobile encryption solutions in the European market are integrated with artificial intelligence and cloud computing technologies. This provides organizations with actionable insights so they can focus on mitigating BYOD risks.

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Report Scope:

Report Attributes

Details

growth rate

25% from 2023 to 2030

Revenue forecast by 2030

US$8.5 billion

Type

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

Applications

BFSI, Healthcare & Retail, Government & Public Sector, Telecom & 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. other

Base year

2022

historical year

from 2017 to 2021

Projected year

from 2023 to 2030

Dynamics of the mobile encryption market:

Drivers:

The mobile encryption market is growing for a number of reasons. The government and private business have put in place strict rules to keep people from abusing the Internet and to prevent cyberattacks and other threats. In addition, the demand for smartphone encryption solutions is growing as more people use the Internet and smartphones.

Opportunities:

Encrypted mobile phones help prevent data leaks and leaks. As cloud workspaces become more popular, there are more opportunities to sell mobile encryption. People also choose encryption for unsurpassed security and FDE (Full-Disk Encryption). This will help keep personal and sensitive information on your phone safe in case it gets lost or stolen. Since hackers and intruders mainly prey on smartphones, it is important to have encryption. The encryption market is growing because of these things. Restrictions. There are several things that could stop the growth of the global smartphone encryption market.

Problems:

Several things can make it difficult for mobile encryption providers to work. Smartphone users need encryption that makes it impossible to recover data that has been deleted. But you can recover data even after deleting it. With data encryption, you can get them back by resetting your phone to factory settings. Thus, encryption providers must come up with solutions that make it impossible to return data, which can be difficult to do. Also, encryption can be expensive, making it difficult for ISPs to get people to encrypt their phones.

Key segments of the mobile encryption market:

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. other.

Type

  • Disk Encryption

  • File/folder encryption,

  • Encryption

  • Cloud Encryption

  • Another

By application

  • BFSI

  • Healthcare and Retail

  • Government and public sector

  • Telecommunications and IT,

  • Another

Regions and countries covered

  • North America: (USA, Canada, Mexico and the rest of North America)

  • Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux, rest of Europe)

  • Asian-Pacific area: (Japan, China, India, Australia, South Korea, Southeast Asia, the rest of the Asia-Pacific region)

  • Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, rest of the Middle East and Africa)

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

  • Rest of the world

Check out other studies published by Contrive Datum Insights:

  • Optical Encryption MarketThe size of the global optical encryption market was estimated at $3.09 billion in 2020 and is projected to reach $5.96 billion by 2028, growing by an average of 8.54% between 2021 and 2030. Asia-Pacific held the highest market share with 33.1% in 2020. Market growth in this region is mainly driven by large economies such as China, India, Japan and others. India is the second largest telecommunications market in the world with a subscriber base of 1.16 billion and has shown significant growth over the past decade, according to the Indian Brand Equity Foundation (IBEF).

  • Homomorphic Encryption MarketThe homomorphic encryption market is estimated to reach a valuation of $265.85 million by 2030, growing at 7.45% per year during the assessment period from 2022 to 2030. North America has been the market leader since 2018 and may continue to maintain its winning streak throughout the evaluation period. Factors such as the increase in the number of small and medium-sized enterprises and the increased use of homomorphic encryption technology are driving the growth of the market.

  • Mobile virtual network market The global mobile virtual network market reached $73.1 billion in 2022. Looking ahead, the market is expected to reach USD 119.6 billion by 2030, demonstrating a growth rate (CAGR) of 7.36% during 2023-2030. Europe dominated the mobile virtual network operator market in 2019. This growth can be attributed to a favorable regulatory environment, which is expected to play a key role in the development of mobile virtual network operators.

  • Mobile phone camera module marketThe global mobile phone camera module market is valued at $58,390.9 million in 2021 and is expected to have a CAGR of 15.2% during the forecast period 2021-2030. Due to the large number of companies in the sector and the widespread use of consumer electronics, Asia Pacific dominated the camera module market in 2020, followed by Northern Europe and Asia Pacific with a market share of 32.6%.

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