Mobile Encryption Market is Expected to Grow at a CAGR of 25%, Reaching a Valuation of US$ 8.5 Billion from 2022-2030, Contrive Datum Insights
Yahoo – Contrive Datum Insights Pvt Ltd
Farmington, Jan. 13, 2023 (GLOBE NEWSWIRE) — The Mobile Encryption Market is estimated to reach a valuation of USD 8.5 Billion by 2030, growing at 25% CAGR during the assessment period 2022-2030. Mobile encryption protects the information on your smartphone by making it so that people who aren’t supposed to can’t get to it. The number of people who use the Internet and buy smart devices has gone up all over the world. Because of this, the chance of data fraud has also gone up.
ue to an increase in the number and severity of cyberattacks around the world, it is expected that the Cloud encryption segment will have the highest CAGR over the next few years. Most of the market is likely to come from the BFSI segment. Because of these things, online transactions are getting more complicated, which is allowing payment providers to catch up with new technologies and offer better security.
The US is one of the largest markets in the world for Mobile Encryption. Small and medium-sized businesses (SMEs) all over Europe are expected to use mobile communication technologies more and more. Also, the mobile encryption solutions on the European market are integrated with AI and cloud computing technologies. This lets organisations get actionable insights so they can focus on reducing their BYOD risks. Drivers:
Government and private businesses have put in place strict rules to stop people from misusing the internet and to stop cyber-attacks and other threats. Also, the demand for smartphone encryption solutions goes up as more people use the internet and smartphones. Opportunities:
As cloud-based work environments become more popular, there are more chances to sell Mobile Encryption. People are also choosing encryptions that offer unbreakable security and FDE (Full-Disk Encryption). Restraints: There are a few things that could stop the global smartphone encryption market from growing. Challenges:
With data encryption, you can get it back by putting the phone back to factory settings. So, encryption providers have to come up with solutions that make it impossible to get the data back, which can be hard to do. Also, encryption can be expensive, which makes it hard for providers to get people to encrypt their phones.
Link: https://ca.sports.yahoo.com/news/mobile-encryption-market-expected-grow-181500816.html?src=rss&guccounter=1