With an increasing number of users connected through communication devices, the need for security over wireless communication is more imperative than ever before. A device can be encrypted for security by setting a certain numeric pin or password to decrypt. Companies are focusing on developing solutions to bridge the gap between mobile device security and desktop security. For instance, recently on Safer Internet day, 5 February 2019, Google launched Adiantum, a new encryption standard for mobile devices, which offers storage encryption using Advanced Encryption Standard (AES).
Introduction of BYOD & CYOD concepts, which offer freedom of work to employees, also brings security risks in the form of stolen passwords and firewall intrusions, necessitating data encryption for security. Implementing biometric authentication using data encryption for applications is one of the preventive measures that may be employed to lock down devices.
The global mobile encryption market can be segmented by component, application, deployment mode, end user, and region.
On the basis of component, the mobile encryption market can be segmented into services and solutions. Rising adoption of IoT and growing demand for cloud solutions are expected to fuel the growth of the component segment in mobile encryption market.
Based on application, the mobile encryption market can be segmented into disk encryption, file/folder encryption, cloud encryption, and others. Increasing adoption of cloud infrastructure services among enterprises is likely to drive the mobile encryption market in application segment.
By deployment mode, the mobile encryption market can be segmented into on-premises and cloud-based. Rapid adoption of cloud-based technology due to its ease of use and low-cost is likely to fuel the growth of the deployment mode in mobile encryption market.
Based on end user, the mobile encryption market can be segmented into IT & Telecom, banking and financial services, aerospace and defense, healthcare, and others. Stringent rules and regulations for secure communication technology across these verticals is projected to boost the mobile encryption market.
Geographically, the mobile encryption market has been segmented into North America, Asia Pacific, Europe, and Latin America, Middle East & Africa (LAMEA).
North America is expected to witness dynamic growth in the mobile encryption market with the rising threat from malicious attackers exploiting cyberspace. Additionally, motivations including espionage, and political and ideological interests, among others are likely to drive market growth in the region.
Europe is expected to witness significant growth in the mobile encryption market, due to rising data security concerns such as data breaches, cyber-attacks, and several others. In Asia Pacific, growing digitization initiatives along with the adoption of advanced security solutions, owing to the introduction of BYOD and CYOD concepts are expected to boost the mobile encryption market.
The LAMEA region is expected to witness considerable growth in the mobile encryption market, owing to the stringent regulations pertaining to security in the region.
Some of the prominent players in the mobile encryption market include International Business Machines Corporation (U.S.), DELL (U.S.), McAfee, LLC (U.S.), Symantec Corporation (U.S.), and others.