The Global Mobile Encryption Market was valued at USD 591.1 million in 2016 and is projected to reach USD 6,720.5 million by 2025, growing at a CAGR of 31.01% from 2017 to 2025.
There are increasing concerns about dealing with the protection of business as well as personal information that is stored on smartphones. Due to this, mobile security has become more prevalent in mobile computing. The process of encryption is a reversible process in which the sensitive data is scrambled into ciphered text. This ensures that unauthorized individuals who are trying to access data are unable to obtain valuable information. Mobile encryption has advantages such as the implementation of the authentication and authorizations, network connection security on the backend, and data security.
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As there is an increasing use of smartphones and tablets across enterprises, there are rising concerns about the security of the data and the privacy of data. There is, therefore an increasing demand for integrated solutions and for cloud-based mobile encryption solutions. These factors lead to the increase in the growth of the mobile encryption market. Lack of technical expertise, high operational costs and the management of encryption keys are factors that are restraining the market for mobile encryption.
The major players in the market are as follows:
- Communication Security Group
- Dell Inc
- IBM Corporation
- Certes Networks
- Symantec Corporation
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