Market Overview:

The Mobile Encryption Market is estimated to reach a valuation of USD 1.14 Billion by 2023 and projected to USD 8.5 Billion by 2030, growing at 25% CAGR during the assessment period 2023-2030.
Mobile encryption safeguards the data stored on your smartphone by preventing unauthorized users from gaining access to it. Globally, the number of Internet consumers and the prevalence of smart devices have increased. Consequently, the risk of data falsification has also grown. Therefore, businesses, organizations, and individuals must protect sensitive information stored on their devices. These factors have increased the demand for mobile encryption. This method involves encrypting data on a device (cell phone) with an encryption key. Smartphone encryption helps protect your data if your device is lost or stolen. The market is expanding as the number of smartphone consumers increases globally.

Market Dynamics:

Key Trend: North America is expected to have a significant market share

 In North America, U.S. businesses are becoming more and more dependent on computer networks and electronic data to run their daily operations. Phones are also being used to transfer and keep more and more personal and financial information in the cloud. Also, the rise of bring-your-own-device (BYOD) makes it easier for advanced authentication methods like smart cards, physical tokens, and KPIs to be used to access private information or log in to client servers. It was estimated that there has been a 44.42% rise in BYOD in the United States over the past three years. This shows how encryption solutions are being used in the country.

It is thought that about 47% of mobile devices in the US have full disk encryption, and this number is likely to go up in the years to come. But as full disk encryption becomes more popular, almost all of these devices could become inaccessible to law enforcement. Because of this, the government is trying to control the crypto market. There are limits and problems for companies like Google and other tech giants.

Growth of technology and internet use driving demand for mobile encryption 

The growth of cloud-based storage as a way for businesses to protect important electronic data like personal contacts, credit card numbers, and bank passwords is one of the main things driving demand for mobile encryption solutions in many parts of the world. Mobile encryption is likely to grow quickly, which will make it easier to use mobile devices to improve cloud security solutions.

Some of the main things that are driving demand for mobile encryption among businesses are the growth of technology and internet use, as well as the rise of the "bring your own device" (BYOD) trend. Mobile encryption is being used more and more in aerospace and defense to improve system security. This is giving sales of mobile encryption options new ways to grow. So, mobile encryption solutions are being used more and more by end users in different industries around the world to prevent, detect, secure, and respond to crime-prevention actions and to manage traffic.

The market will likely be driven by the rising demand for Bring Your Own Device (BYOD).

Bring Your Own Device (BYOD) services are offered by businesses to facilitate corporate mobility. BYOD is a policy that allows employees to bring their own mobile devices to work, such as laptops, smartphones, and tablets. Additionally, BYOD provides a secure network connection for mobile devices. Increasing employee satisfaction and productivity are the primary motivating factors for the adoption of BYOD. In contrast, unauthorized data access, data leakage/loss, and malware attacks, among others, are significant challenges that organizations face when adopting BYOD. Consequently, the rising demand for improved data privacy and security, as well as network security, is anticipated to increase the adoption of mobile device security solutions. In addition, companies are focusing on the privacy and security of mobile devices and network infrastructure, which will drive the growth of the mobile security market.

Impact of COVID-19 on the mobile encryption market:

The COVID-19 outbreak has had a big impact on almost every industry around the world. Also, lockdown and other restrictions have made more people use their mobile devices than normal. 

COVID-19 has also shown how important it is to have a strong internet backbone. Internet use has grown by leaps and bounds, and there have been a lot more cyberattacks and a huge increase in the amount of data that is collected. As the number of people who use the internet grows, encryption will become more important to protect the data that people share online. So, the call for better encryption standards is more important now than it was before. Encryption is the main driver of growth in the internet economy and in many other areas. If encryption standards were lowered, trust in the digital market would also be hurt.

Also, governments are taking steps to make the present system better. For instance, the Department of Telecom lets ISPs use a 40-bit key value without asking for permission first. But longer key lengths need to be approved. Bulk encryption is also not allowed to be used by telecom service companies. For strong encryption, which includes building in guarantees like strong encryption and de-identification, mobile encryption is a must. So, these are likely to be good ways to make money during and after the pandemic.

Opportunities: Integration of blockchain with protected payments

The use of mobile phones as a payment method has led to a big rise in digital payments. Organizations are working to improve payment technology by combining blockchain with mobile payments. The most important thing about blockchain is that it works well, which sets a norm for safe, encrypted transactions. But cryptocurrencies can help make collaboration possible. The connection would shorten the time it takes to send money and get rid of fees charged by third parties. The blockchain also helps to improve encryption by making it possible to use smart contracts, which can stop payments when the rules of an agreement are broken. So, businesses can expect to see block chain and mobile encryption work together to give the market a lot of new possibilities.  

By Component Insights:

It is likely that network security solutions will dominate the market. Cybercriminals primarily target wireless networks including hot spots and Wi-Fi. However, the majority of unprotected devices that access unauthorized, free public Wi-Fi are met with security. According to the State of Enterprise Mobile Security report published by Zimperium in 2019, the United Kingdom, China, the United States, Japan, and the Republic of Korea faced a large number of network attacks. The increasing frequency of such wireless network intrusions compels businesses to implement the mobile network security solution. As a result of the increasing number of cyberattacks on mobile devices, governments around the globe have tightened their regulations. Government efforts to regulate cybersecurity are anticipated to propel the mobile security market. Visiting untrustworthy websites and downloading untrustworthy applications may result in data theft. Consequently, future demand for application security and web security is anticipated to increase.

The reliance of mobile technology on the infrastructure for cloud-based data storage has made the cloud service an attractive target for cybercriminals. According to a market analysis, the prerequisite to secure the cloud infrastructure drives the adoption of security solutions. Employees are employing the identity-as-a-service platform to authenticate their identities and gain access to corporate systems, which is driving the growth of this market.

Regional Insights:

Geographically, the global Mobile Encryption market has been segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and India, among others. This market will be dominated by the global region in the near future.

The United States is one of the world's greatest markets for mobile encryption. The demand for mobile encryption in the United States and Canada will be driven by the information technology and telecommunications industries. In addition, growing trends in mobile purchasing, e-banking, and online retail are driving mobile demand in North America, which in turn is driving the expansion of mobile encryption.

In addition, the emphasis placed by the United States government on data protection and integrity is likely propelling the development of mobile encryption solutions in the United States. To expand their customer base, mobile encryption solution providers are concentrating on R&D and product innovation in order to introduce innovative security solutions.

Small- and medium-sized enterprises (SMEs) across Europe are anticipated to adopt mobile communication technologies at a significant rate. Moreover, the mobile encryption solutions available on the European market are integrated with AI and cloud computing technologies, allowing organizations to gain actionable insights so they can concentrate on reducing BYOD risks.
scope of Report:

Key Vendor:

• 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.
•  and others.

• Blackberry

The RIM 850 and 857, the first BlackBerry phones, used the DataTAC network. In 2002, the more well-known convergent smartphone BlackBerry came out. It can push email, mobile phone calls, text messaging, Internet faxing, Web viewing, and other wireless information services. BlackBerry grew its share of the smartphone market by putting more effort into email. BlackBerry Connect software made it possible for non-BlackBerry devices, like the Palm Treo, to get email service.

• T-Systems International 

Provides end-to-end IT solutions that help companies in all businesses and the public sector become more digital. Focus businesses include healthcare and the public sector, as well as the auto, logistics, and transportation industries. T-Systems makes software tools for these industries that are tailored to each company. T-Systems work on Cloud Computing, Big Data, ICT Security, Connected Car, M2M, Mobile Enterprise, Systems Integration, Consulting, Networks, Applications Development & Maintenance, Internet of Things, IoT, Industrie 4.0, Cyber Security, and Artificial Intelligence.

• ESET

The company began in Bratislava, Slovakia, in 1992. But its past goes back to 1987, when Miroslav Trnka and Peter Pako, two of the company's founders, made NOD, their first antivirus program. This gave some friends the idea to help PC users stay safe, which soon turned into an antivirus software business. At the moment, ESET is the most successful company in Slovakia and the biggest privately held cybersecurity company in Europe. This is something that is recognized every year. ESET, s.r.o. is a Slovak business that makes software for security. ESET's security products are made in Europe, and its software is available in more than 30 languages and over 200 countries and regions around the world.

• Check Point Software Technologies

Check Point Software Technologies Ltd. is the world's top provider of cyber security solutions to governments and large businesses.  Check Point's solutions protect users from cyberattacks of the 5th generation by catching more malware, ransomware, and advanced targeted threats than any other company. Check Point's Infinity Total Protection with Gen V advanced threat prevention is a multilevel security architecture that protects the cloud, network, and mobile devices of a business. Check Point has the most complete and easy-to-use security management solution with a single point of control. Over 100,000 organizations of all kinds are protected by Check Point.

MobileIron is redefining corporate security with the first mobile-centric security platform for every corporate. In the Everywhere Enterprise, company data flows freely between devices and servers in the cloud. This lets workers be productive wherever they need to work. MobileIron uses a "never trust, always verify" model to secure access and protect data across this company that doesn't have a perimeter. This is based on the idea that bad actors are already in the network.

• Mobileiron

MobileIron’s platform combines award-winning and industry-leading unified endpoint management (UEM) capabilities with passwordless MFA (Zero Sign-On) and mobile threat defense (MTD) to validate the device, establish user context, verify the network, and detect and remediate threats to ensure that only authorized users, devices, apps, and services can access business resources in a “work from everywhere” world. Over 20,000 organizations, including some of the world's biggest financial institutions, intelligence agencies, and other highly regulated companies, have chosen MobileIron to provide a seamless and secure user experience in the Everywhere Enterprise.

Industry Development:

• In 2009, IBM introduced mobile phones with homomorphic encryption. A computational technique that enables data to be processed without decryption.
• In November 2020 Google has implemented end-to-end encryption for Android users. This end-to-end encryption makes it challenging for anyone, including law enforcement agencies, to read the contents of mobile device-shared messages.

Market Segmentation:

By Component 

• Solutions 
• Services

By Application

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

By End Use

• BFSI
• Healthcare & Retail
• Government and Public Sector
• Telecommunications and IT,
• Other

Regional Insights:

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Conclusion:

In the coming years, demand for mobile encryption is likely to rise because of growing worries about data security and privacy, as well as the need for strict compliance and regulatory requirements. The demand for solutions is being driven by the growing number of smartphones and tablets in businesses, the greater use of mobile technology, the growing availability of low-cost mobile encryption solutions, and the progress in technology.

Small and medium-sized companies in many European countries are expected to use mobile communication technology more and more. On the European market, there are also mobile encryption solutions that use AI and cloud computing. This lets businesses get actionable insights and focus on reducing BYOD risks.