The global Mobile Data Protection market has been valued at USD 1.48 billion in 2017 and is expected to register a CAGR of 29.2% during the forecast period (2018-2023) to reach USD 6.89 billion by 2023. The scope includes different Deployment modes, as well as the Types of mobile data protection solutions available. The regions considered under the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Mobile Data Protection market is now gaining traction in various end-user industries, and has caught the eye of various organizations for better security of mobile data. Some of the prominent trends that the market is witnessing include, increasing mobile data volume, and increasing adoption of BYOD among organizations are some main reasons, owing to growth of mobile data protection market.
However, the increasing cost with rise in complexity is a major hindrance for the growth of mobile data protection market.
Increasing Adoption of Mobile Payment Solutions driving the Mobile Data Protection Market
An increase in the number of mobile payments has led to mobile data breaching cases increasing significantly, hence acting as a significant factor for driving the mobile data protection market. The growth of mobile payments is highest among other payment methods. This growth has also increased the mobile data. In 2017, the mobile data traffic reached 11 Exabyte’s a month, climbing rapidly into the future. Also, with an increasing number of mobile wallets, like Apple pay, android pay, and Walmart pay, the market for mobile data protection is expected to develop further. It is estimated that nearly 2.1 billion consumers worldwide would use a mobile wallet to make a payment or send money by 2019, up by almost 30%, as compared to 2017. With the growing adoption of smartphones for payments, the demand for the mobile data protection is expected to grow over the forecast period. The ever-increasing adoption of AR and contactless payments among smartphones is also expected to increase the demand for mobile data protection solutions further.
Mobile Data Protection Expected to Witness Fastest Adoption through Cloud Solutions
The adoption of mobile data protection solutions is expected to be the fastest on the cloud over the forecast period. The cloud offers many advantages over on-premises as the cloud is more accessible and less costly to deploy and maintain. It provides more flexibility and scalability and delivers product updates more regularly with little to no IT involvement. With the growing advancement in encryption technologies, the security of cloud-based solutions has also increased. Also, due to growing adoption among SME’s, cloud-based mobile data protection is witnessing exponential growth. By moving to the cloud, on-demand solutions sometimes allow you to pay for only the options you want. Hence, the adoption of cloud-based mobile data protection solutions is likely to grow at a faster rate as compared to on-premises, over the forecast period.
North America Anticipated to Dominate the Mobile Data Protection Market
North America market is expected to dominate the global mobile data protection market from 2017 - 2023, owing to its early adoption of data security by companies in the United States, coupled with the presence of a large number of mobile data protection vendors in the region, which would help consolidate the majority of revenues in the mobile data protection market. Additionally, the adoption of cloud technologies, in this region is also very high. North America is also the most significant contributor to the global IT BFSI market, the primary market for mobile data protection. Moreover, stringent government regulations are resulting in companies working to provide security services. The region also has one of the highest adoptions of smartphones among industries, making it a prominent leader in mobile data protection market. Increasing usage of IoT devices, such as BYOD, to access healthcare and banking services is a key trend for the North American market, which shows a great scope for mobile data protection market.
Notable Developments in the Market
- January 2018: Intel Corporation provided its mobile data protection software, McAfee Complete Data Protection, Advanced Suite, and McAfee ePolicy Orchestrator (McAfee ePO) software to UMIVALE, which is a non-profit organization based in Spain, to increase protection against attacks, improve data monitoring and utilization and faster data protection
- March 2018: Druva and Wipro collaborated for Data Management-as-a-Service in Mobile Devices. Along with Druva’s longtime service for Windows devices, this deal enables the service for Apple devices, which are making more and more of an impact in the enterprise
Major Players: Dell Inc., Microsoft Corporation, Hewlett Packard Enterprise Development LP, Symantec Corporation, McAfee LLC, Sophos Ltd, Trend Micro Incorporated, CheckPoint Software Technologies Ltd, Cisco Systems Incorporation, CipherCloud Incorporation, Gemalto NV and Druva, among others.
Mobile Data Protection Market Report Summary
Mobile Data Protection Market
Market Size in 2017
USD 1.48 billion
Market Size in 2023
USD 6.89 billion
The Mobile Data Protection Market offers latest trends, growth prospects, industry competitiveness, major players, regional market share, and forecast until 2023.
Reasons to Purchase the Report
- To understand the impact of mobile data protection applications on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Asia-Pacific is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
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1.1 Key Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Industry Attractiveness- Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of Substitute Products
4.2.4 Threat of New Entrants
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Policies
5. Market Dynamics
5.1 Market Drivers
5.1.1 Globally Growing Government Regulations on Mobile Data Security
5.1.2 Increasing Penetration of Mobile Payments
5.1.3 Growing Number of Mobile Devices being Hacked
5.2 Market Restraints
5.2.1 Cost Increases with Increase in Complexity
5.3.1 Adoption of Augmented Reality and Blockchain into Smartphones
6. Mobile Data Protection - Market segmentation
6.1 By Type
126.96.36.199 Mobile Data Protection
188.8.131.52 Data Loss Prevention
184.108.40.206 Mobile Device Management
6.2 By Deployment
6.3 By Enterprises
6.3.1 Large Enterprises
6.3.2 Small and Medium Enterprises(SME)
6.4 By End-user Industry
6.4.1 Retail & E-commerce
6.4.2 Aerospace & Defense
6.4.4 IT & Telecommunication
6.4.6 Media & Entertainment
6.4.7 Energy & Utilities
6.4.8 Others (Government, Manufacturing, etc.)
6.5 By Geography
6.5.1 North America
6.5.4 Latin America
6.5.5 Middle East & Africa
7. Key Vendors
7.1 Dell Inc.
7.2 Microsoft Corporation
7.3 Hewlett Packard Enterprise Development LP
7.4 Symantec Corporation
7.5 McAfee LLC
7.6 Sophos Ltd
7.7 Trend Micro Incorporated
7.8 CheckPoint Software Technologies Ltd
7.9 Cisco Systems Incorporation
7.10 CipherCloud Incorporation
7.11 Gemalto NV
7.12 "Druva Inc.
*List Not Exhaustive*"
8. Investment Analysis
9. Future of the Market