Global Mobile Encryption Market was valued at USD 688.45 Million in the year 2017. Global Mobile Encryption Market is further estimated to grow at a CAGR of 27.89% from 2018 to 2023 to reach USD 3,011.87 Million. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. holds the notable market share in 2017 and it is projected to grow strongly in the coming years.

Dell Inc. (US), BlackBerry Limited (Canada), MobileIron Inc. (US),IBM Corporation (US), Sophos Ltd. (UK), McAfee, Inc. (US) are some of the key players in the Mobile Encryption Market with IBM Corporation holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:


Increase in cyber-attacks

The Rise in the number of smartphone users


Restraints:


Increased operational cost


Opportunities:


Rising Demand for Cloud-Based Mobile Encryption along with Integrated Solutions


Challenges:

Security systems have to be updated regularly


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Between Solutions, Support and Maintenance, Training and Education and Consulting falling under the component segment; because of the growing popularity and easy availability solution component is expected to be the highest market share during the forecast period.

On the other hand Cloud-based segment for this market is expected to grow at the highest CAGR during the year 2018-2023.


Key Benefits for Stakeholders

Mobile Encryption service providers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End use industries

Regulatory bodies, policy actors and consumers.


By Component

Solutions

Support and Maintenance

Training and Education

Consulting


By Deployment

Cloud-based

On-Premises


By Industry

IT & Telecom

Healthcare

Retail

Media & Entertainment

Manufacturing

Banking, Financial Services, and Insurance

Others


By Region

North America

Europe

Asia-Pacific

ROW


Key Market Players

Dell Inc. (US)

BlackBerry Limited (Canada)

MobileIron Inc. (US)

IBM Corporation (US)

Sophos Ltd. (UK)

McAfee, Inc. (US)

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