Mobile Encryption Market Size & Share - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The global mobile encryption market is segmented by Component (Solution and Services), Application (Disk Encryption, File/Folder Encryption, Web Communication Encryption, Cloud Encryption), Deployment type(On-premise, Cloud), Enterprise Size (SMEs and Large Enterprises), End-user Industry, and Region.

Mobile Encryption Market Size

Mobile Encryption Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 30.55 %

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and it's growth?

Mobile Encryption Market Analysis

The Global Mobile Encryption Market is valued at USD 1198.45 million in 2020 and is expected to reach a value of USD 5,931.23 million by 2026 at a CAGR of 30.55%, during the forecast period of (2021 - 2026). As organizations have adapted to increasingly pervasive regulatory and compliance mandates and more stringent internal policies, encryption deployments have risen in number and scope in major enterprises.

  • Increasing, and evolution of, advanced threats, the enhanced adoption of cloud services, mobile device proliferation, and virtualization are the major factors creating disrupting changes in the mobile encryption market. The need for stringent compliance and regulatory requirements, and increasing concern for data security and privacy of intellectual property are the major factors driving the market. Also, the rising trend of Internet of Things among various end-user verticals is a crucial factor facilitating the expansion of mobile encryption market.
  • For Instance, in India, the government declared a 400-1000% increase in digital transactions after demonetization. The increasing number of online transactions is likely to fuel the growth of the global mobile encryption market during the forecast period.
  • The “bring your own device” (BYOD) phenomenon, and its incredibly fast and pervasive adoption by almost every organization necessitated a fundamental rethinking of security approaches, and it is found that organizations are deploying many disparate encryption platforms. As a result, managing policies and keys, both efficiently and securely, is an increasingly troublesome challenge.
  • The comprehensive use of encryption varies considerably by industry segment. Specifically, heavily regulated and mobile-dependent industries, such as financial services and IT services, have the highest use rate; and less regulated industries, such as manufacturing and consumer products have the lowest use rate.

Mobile Encryption Industry Segmentation

Encryption protects the information saved on a device by scrambling the data into a format that cannot be read by a computer or people without a key. This can be as simple as a scrambled pin code or fingerprint scan. Mobile security breaches can happen in various forms, not just through the cloud which is a common misconception. Other external resources, such as free wi-fi, charging stations and third-party apps should be treated with a degree of suspicion.

Component
Solutions
Services
Application
Disk Encryption
File/Folder Encryption
Web Communication Encryption
Cloud Encryption
Other Applications
Deployment Type
On-premise
Cloud
Enterprise Size
SMEs
Large Enterprises
End Users
BFSI
Aerospace and Defense
Healthcare
Government and Public Sector
Telecom
Retail
Other End Users
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Report scope can be customized per your requirements. Click here.

Mobile Encryption Market Trends

This section covers the major market trends shaping the Mobile Encryption Market according to our research experts:

BFSI is Expected to Hold a Major Market Share

Among the current identified trends influencing this segment of the market, the usage of encrypted OTP SMS is one of them, along with a PIN to avoid any possible attacks, like phishing, man-in-the-middle attack, malware Trojans.
As more of the bank account information and passwords of customers come on mobile devices, even personal pictures (while application of loans, online) has become a major security concern. SSL/TLS enables secure transmissions of private data over the internet, including credit card details, passwords, and sensitive personal information.
Banks and financial institutions use SSL/TLS to encrypt their traffic to address these multiple issues, including controlling access, confidentiality, and reducing exposure to protocol-specific attacks.
With the increased sophistication of online transactions, payment providers are catching up with the technologies to provide better security. The majority of online payments are now on the mobile/in-app payments; the traditional PCI-DSS standards have to be suitably upgraded.
New initiatives, such as EMV Three-Domain Secure (3DS), a messaging protocol to enable consumers to authenticate themselves with their card issuer when making card-not-present e-commerce purchases, are not possible on the old SSL standards. Communication that uses two algorithms for encryption that work side-by-side is currently considered as the strongest encryption, with cryptologist predicting double cell encryption to remain such over the forecast period.
With the increasing amount of data breaches occurring in the banking sector, new reforms are being initiated to the breaches arising. As new payment card industry data security standard requirements went into effect starting June 2018, payment card acquirers, processors, gateways, and services providers worldwide are working to implement more secure encryption protocols for transactions. They're required to discontinue the use of Secure Sockets Layer and early versions of Transport Layer Security, and implement, instead, a more secure encryption protocol - TLS v1.1 or higher.
Mobile Encryption Market: Number of data breaches in the United States from 2014 to 2018 (Banking, Credit, Financial)

North America is Expected to Hold a Major Market Share

In the North American region, the United States businesses sector increasingly depend on computer networks and electronic data to conduct its daily operations, and growing pools of personal and financial information are also transferred and stored in the cloud using phones.
Furthermore, a significant increase in BYOD trend is also favoring the conditions for advanced authentication methods, such as smart cards, physical tokens, KPI’s to access the sensitive information or to log in to the client servers.
It was estimated that, in the past three years, in the United States, there has been an increase of 44.42% of BYOD, which depicts the adoption patterns of encryption solutions in the country.
It is estimated that around 47% of the mobile devices in the United States have full disk encryption, and this number is expected to go up in coming years. However, with the growth in adoption of full disk encryption, almost all these devices could become inaccessible to law enforcement, and as a result, the government is regulating the encryption market. Companies, like Google and other tech giants, are facing restrictions and obstacles.
Apple is the largest provider of mobile full-disk encryption, and around 44% of the mobile devices in the United States run on iOS. With increased amount of malicious data breaches occurring in the North America region, it becomes the largest market for the encryption services.
 
Mobile Encryption Market: Geographic location of malicious data breach victims in 2017, ranked by share of attacks

Mobile Encryption Industry Overview

The Global Mobile Encryption Market is fragmented as the mobile encryption ecosystem comprises various mobile encryption solution and service providers. The major players deploy various strategies such as new product launches, clinical trials and are also taking market initiatives, innovations through high expense on research and development, entering joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

  • For Instance, in August 2017, Symantec Corporation entered into a partnership with the telecom operator, Bharti Airtel, to serve the increasing cybersecurity requirements of businesses in India. The telecom service provider is now aiming to provide protection and prevent online the threats in an increasingly digitally connected world.
  • Further, in November 2017, For the first time, IBM Z enables organizations to pervasively encrypt data—either in flight or at rest—that is associated with an entire application, cloud service or database.  All of this comes with no changes to the applications. It’s powered by the world’s most powerful and secure transaction system, capable of running more than 12 billion encrypted transactions per day.

Mobile Encryption Market Leaders

  1. Check Point Software Technologies, Ltd .

  2. Hewlett Packard Enterprise

  3. IBM Corporation

  4. KoolSpan, Inc.

  5. MobileIron, Inc.

*Disclaimer: Major Players sorted in no particular order

Mobile Encryption Market Concentration

Mobile Encryption Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Growing demand for secure communication in enterprises

      2. 4.3.2 Increasing concern for data security and privacy of intellectual property

    4. 4.4 Market Restraints

      1. 4.4.1 Lack of awareness and skilled workforce

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Component

      1. 5.1.1 Solutions

      2. 5.1.2 Services

    2. 5.2 Application

      1. 5.2.1 Disk Encryption

      2. 5.2.2 File/Folder Encryption

      3. 5.2.3 Web Communication Encryption

      4. 5.2.4 Cloud Encryption

      5. 5.2.5 Other Applications

    3. 5.3 Deployment Type

      1. 5.3.1 On-premise

      2. 5.3.2 Cloud

    4. 5.4 Enterprise Size

      1. 5.4.1 SMEs

      2. 5.4.2 Large Enterprises

    5. 5.5 End Users

      1. 5.5.1 BFSI

      2. 5.5.2 Aerospace and Defense

      3. 5.5.3 Healthcare

      4. 5.5.4 Government and Public Sector

      5. 5.5.5 Telecom

      6. 5.5.6 Retail

      7. 5.5.7 Other End Users

    6. 5.6 Geography

      1. 5.6.1 North America

      2. 5.6.2 Europe

      3. 5.6.3 Asia Pacific

      4. 5.6.4 Latin America

      5. 5.6.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Check Point Software Technologies, Ltd

      2. 6.1.2 Hewlett Packard Enterprise

      3. 6.1.3 IBM Corporation

      4. 6.1.4 KoolSpan, Inc.

      5. 6.1.5 MobileIron, Inc.

      6. 6.1.6 SecurStar GmbH

      7. 6.1.7 Silent Circle, LLC

      8. 6.1.8 Sophos Ltd.

      9. 6.1.9 Symantec Corporation

      10. 6.1.10 T-Systems International GmbH

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You can also purchase parts of this report. Do you want to check out a section wise price list?

Mobile Encryption Market Research FAQs

The Mobile Encryption Market is studied from 2018 - 2028.

The Mobile Encryption Market is growing at a CAGR of 30.55% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Check Point Software Technologies, Ltd ., Hewlett Packard Enterprise, IBM Corporation, KoolSpan, Inc., MobileIron, Inc. are the major companies operating in Mobile Encryption Market.

Mobile Encryption Industry Report

Statistics for the 2023 Mobile Encryption market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mobile Encryption analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!