Encryption is a kind of programming technique, which includes the access of a message or data securely in a verified manner through which a third party can access it. Mobile encryption is a rising pattern as it centers around the security side of business or personal data. Increasing concerns about protection and information security are probably going to fuel the mobile encryption market throughout the following couple of years, alongside the spread of tablets and cell phones all over companies. Another factor propelling the growth of mobile encryption is stringent administering necessities. The increasing popularity of Bring Your Own Device (BYOD) and Internet of Things in the firms are significant drivers encouraging the development of mobile encryption market.
Cyber Attacks to Prompt Need of Mobile Encryption in Global Market
Data breaches, cyber attacks, data loss, and commercial espionage are probably going to impact the mobile encryption market. The popularity of cloud computing advancements attributable to the exceptional development of information over the recent couple of years is a key factor likely to drive the demand regarding mobile encryption market in the forthcoming years. Cloud storage capacity and related applications all over different business method is foreseen to upgrade the development of mobile encryption market throughout the years to come. Stringent tenets and guidelines, for example, Advanced Encryption Standard (AES) and Payment Card Industry Data Security Standard (PCI DSS) have been made compulsory for information security solutions all over different industry verticals, for example, healthcare and BFSI. the rising utilization of web and rapid digitalization are probably going to make additional scope for development for the mobile encryption market in the upcoming years.
Cloud Encryption Segment to Lead Global Market
The market is divided on the basis of communication encryption, cloud encryption, disk encryption, and file/folder encryption. Cloud encryption is estimated to lead the mobile encryption market due to surge in popularity of cloud applications and infrastructure across various business processes. Risks and data compliance pertaining to the protection of data stored in cloud fuels this segment. Cloud encryption protects sensitive business information from security breaches and thefts. Disk encryption is estimated to dominate the mobile encryption market in the recent years. On the basis of deployment, the market is classified into the cloud segment and on-premises segment. As per the end-user sector, the mobile encryption market is segmented as telecommunication and IT, banking, financial services & insurance, aerospace & defense, retail, and so on.
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North America Accounts for Key Share of Market
Geographically, in 2016, North America region comprised the major share in the mobile encryption market and is anticipated to hold its position in the forthcoming years. The developing popularity of improved and inventive technologies is foreseen to help the demand for mobile encryption throughout the following couple of years. Asia Pacific is evaluated to grow at a quickening rate because of the rising execution of drift of BYOD alongside stringent guidelines forced all over different industry verticals, for example, healthcare, BFSI, retails, telecom, defense, retail and so on.