Mobile Encryption Market by Component
(Solution and Services), Application (Disk
Encryption, File/Folder Encryption,
Communication Encryption, and Cloud
Encryption), End-User Type, Deployment Type,
Vertical, and Region - Global Forecast to 2022
No of Pages – 150
Publishing Date - May 10, 2017
Browse detailed TOC, Tables, Figures, Charts in Mobile Encryption Market by Component
(Solution and Services), Application (Disk Encryption, File/Folder Encryption, Communication
Encryption, and Cloud Encryption), End-User Type, Deployment Type, Vertical, and Region -
Global Forecast to 2022 at - https://www.absolutereports.com/10794761
“Need for stringent compliance and increasing concern for data security are driving the mobile
encryption market.”
The mobile encryption market size is expected to grow from USD 761.4 million in 2017 to USD
2,917.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.8%. The market is
driven by factors such as increased concerns for data security and privacy issues, the proliferation of
smartphones and tablets across enterprises, and the need for strict compliance and regulatory
requirements. However, increased operational expenditure and budget constraints are some of the
major factors hindering the growth of the global mobile encryption market.
“Cloud encryption application is expected to grow at the highest rate during the forecast period.”
The cloud encryption segment among the mobile encryption applications is projected to grow at the
highest rate during the forecast period, due to the increased adoption of cloud-based storage and
applications across various business processes. Organizations are categorically embracing diverse
cloud environments, ranging from private and hybrid to public, for the storage of vast amounts of
data. However, risks associated with content protection and data compliance remain to be the prime
impediments for cloud embracement across businesses. Thus, it encourages the adoption of cloud
encryption to safeguard sensitive information from security breaches and thefts.
“BFSI sector in the mobile encryption market is expected to have the largest market share in 2017.”
The Banking, Financial Services, and Insurance (BFSI) sector represents the highest adoption of
mobile encryption out of all the industry verticals. The increasing usage of mobile technology has
enhanced the adoption of encryption solutions and services in financial organizations. Pressure from
regulatory standards, such as Advanced Encryption Standard (AES) and Payment Card Industry Data