Mobile Data Protection Market Segmented By Mobile Data Protection (MDP), Data Loss Prevention (DLP), Mobile Device Management (MDM) Solution on Cloud, On-Premises Development Type
Industry: IT and Telecommunication
Published Date: April-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 334
Report ID: PMRREP33064
The mobile data protection market is likely to strengthen its hold in the global market at a promising CAGR of 20.2% between 2022 and 2032.
The mobile data protection market share is valued at US$ 6.5 Bn in 2022 and is likely to reach US$ 40.8 Bn by 2032. Previously, the market was thriving at a much higher CAGR of 22.3% (2015-2021), resulting in the market size of US$ 5.1 Bn in 2021.
| Attributes | Details |
|---|---|
|
Mobile Data Protection Market CAGR (2022-2032) |
20.2% |
|
Mobile Data Protection Market Value (2022) |
US$ 6.5 Bn |
|
Mobile Data Protection Market Value (2032) |
US$ 40.8 Bn |
Several well-established industry giants as well as rising organisations operating throughout the world dominate the mobile data protection market. This feature has enhanced market competition, resulting in significant growth in the mobile data protection market.
Furthermore, several governments around the world are developing and adopting tough policies to safeguard mobile data from cyber-attacks, which is boosting the demand for mobile data protection.
The world is seeing a large increase in mobile payment platforms, which necessitates increased data security, and this factor is pressuring mobile data platform market participants to consistently innovate software, which is expected to boost the mobile data protection market adoption trends in the approaching years.
As more commercial and social activities move online, data privacy and protection are becoming increasingly important, not least in the context of international trade, which is helping the mobile data protection market flourish. Many firms have adopted cloud computing (healthcare), which has resulted in a rise in data management concerns.
Furthermore, data transfer has increased the risk of data loss, unauthorised data processing, and theft. With all of the above concerns, it's more important than ever to discover strategies to protect data as the mobile data protection market outlook is being negatively impacted.
Expanding usage patterns of small devices among businesses have resulted in a significant risk of data loss, prompting the adoption of mobile data protection measures. Likewise, the evolving work culture in businesses of all sizes is typically embracing trends such as bring your own device, cloud, and online media, as well as strict standards for mobile data protection, which are predicted to aid in the growth of sales of mobile data protection.
As per the mobile data protection market study, several firms are employing numerous biometric authentication methods in mobile devices, which is expected to boost the market due to the increased usage of cloud computing and growing worries about the surface transmission of the coronavirus illness (COVID-19).
The rising use of mobile devices like cell phones, laptops, and portable Universal Serial Bus (USB) memory sticks is raising network security concerns. This, along with the growing popularity of the Internet of Things (IoT) and the emerging Bring Your Own Device (BYOD) trend, is one of the primary causes driving up demand for mobile data protection. They're also outperforming existing network security solutions in terms of remotely managing users and their devices and combating the growing threat of cyberattacks and data breaches.
Aside from that, the growing popularity of smart electronic gadgets like netbooks and wearables is boosting the mobile data protection market share growth.
As per the mobile data protection market study by Persistence Market Research, the rise in the number of mobile payments is expected to create attractive industry prospects. The rise in mobile payments has resulted in a significant increase in mobile data breaching instances, propelling the mobile data security industry forward.
All payment modalities are increasing at a faster rate than mobile payments. Mobile data usage has increased as a result of this development. Furthermore, as the number of mobile wallets such as Apple Pay, Android Pay, and Walmart Pay develops, the market for mobile data protection is expected to expand. Because of the growing use of smartphones for payments, the demand for mobile data protection is expected to increase over the forecast period.
The increasing amount of personal data available is expected to drive the mobile data protection industry expansion. Personal data now powers most of the new online activity in the global information economy.
Huge amounts of data are exchanged, saved, and acquired every day around the world, allowing for incredible advancements in computer and communication capacity. In developing countries, the usage of mobile phones and improved Internet access have enabled online social, economic, and financial activity. This trend has significantly changed the mobile data protection market outlook.
The growing use of mobile devices in businesses has resulted in serious risk of data loss, prompting the development of mobile data protection solutions.
Furthermore, the changing work culture in various industries is widely adopting the trends of bringing your own device, cloud, and social media, as well as stringent regulations in regards to data protection solutions, all of which are expected to support the growth of the mobile data protection market.
However, some additional spending on deployment, training and IT infrastructure maintenance may prevent small and medium businesses with limited budgets from adopting the solution, acting as a restraint for the mobile data protection market.
| Attributes | Mobile Data Protection Market |
|---|---|
|
CAGR (2022-2032) |
20.2% |
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Market Value (2026) |
US$ 18.3 Bn |
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Growth Factor |
The increasing amount of personal data available is expected to drive industry expansion. |
|
Opportunity |
Increasing use of banking and other financial applications on mobile phones is leading to the growth of the mobile data protection market. |
|
Key Trends |
The emerging trends of bring your own device and widespread use of social media is driving the market. |
| Attributes | Cybersecurity Market |
|---|---|
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CAGR (2022-2032) |
9.7% |
|
Market Value (2026) |
US$ 345 Bn |
|
Growth Factor |
Demand for cybersecurity mesh is increasing, as is demand for cyber-savvy boards which is driving the cybersecurity market. |
|
Opportunity |
As SMEs seek to handle data and information security concerns via the cloud, demand for cloud-based cybersecurity solutions is likely to rise, creating market potential prospects. |
|
Key Trends |
For some small and medium-sized businesses, a lack of capital resources can be a key impediment to embracing the cybersecurity approach. |
| Attributes | Mobile Device Management Market |
|---|---|
|
CAGR (2022-2032) |
29.8% |
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Market Value (2026) |
US$ 20.4 Bn |
|
Growth Factor |
New mobile devices are being introduced to the market which is leading to a growth in the mobile device management market. |
|
Opportunity |
The use of the cloud and BYOD cuts the company's IT infrastructure and maintenance costs indirectly and thus gives new opportunities for the mobile device management market to prosper. |
|
Key Trends |
The presence of multiple important enterprises in the ecosystem has resulted in a robust and diverse market. |
Growth in the number of mobile payments has resulted in a considerable increase in mobile data breaching cases, which is driving the mobile data protection market. Among all payment options, mobile payments are growing at the fastest rate.
Furthermore, the market for mobile data protection is predicted to grow as the number of mobile wallets such as Apple Pay, Android Pay, and Walmart Pay grows. The demand for mobile data protection is predicted to rise over the forecast period, owing to the increased popularity of smartphones for payments.
The growing usage of augmented reality (AR) and contactless payments among smartphones are likely to drive up the need for mobile data protection solutions.
Data privacy and protection are becoming increasingly crucial as more commercial and social activities shift online, not least in the context of international trade, which is assisting the market's development.
Cloud computing has been adopted by many businesses, resulting in an increase in data management issues. Data transfer has also increased the risk of data loss, unlawful data processing, and theft. Given the aforementioned dangers, developing data security solutions is more critical than ever, and the demand for mobile data protection is getting stronger.
The solution, deployment type, industry type verticals, and geography can all be used to segregate the demand for mobile data protection. The market can be divided into mobile data protection, data loss prevention, and mobile device management based on the solution segment.
Retail, manufacturing, BFSI, healthcare, consumer goods, IT and telecommunication, media and entertainment, aerospace & defense, and other verticals can be used to segment the mobile data protection market. North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, the Middle East, and Africa make up the regional mobile data protection market.
Manufacturing, Defence & Aerospace, IT & Telecom, BFSI, Healthcare, and Others are the industry verticals in which the mobile data protection market is divided. BFSI is the industry leader with the biggest market share. Banks and financial institutions work in an industry that is heavily regulated.
Over the last few years, the BFSI (banking, financial services, and insurance) sector has seen a number of technological changes. Because of the perceived worth of the underlying data, the digitization of financial services, insurance claims, and information gathering have resulted in vast data possession, making it one of the top data breach targets. This has changed the mobile data protection market adoption trends.
The mobile data protection market is divided into three categories: Mobile Data Protection (MDP), Data Loss Prevention (DLP), and Mobile Device Management (MDM). Mobile Data Protection (MDP) is a method of obtaining data from mobile storage systems such as portable media, cell phones, and personal computers, and it leads the mobile data protection market’s solution segment.
It also provides tethered assurance methodologies for a variety of stages. To ensure the security of portable data, data innovation managers must understand the intricacies of the mobile security system, determine which devices to allow in the workplace, and be familiar with local data insurance.
Any business must safeguard its data against theft or disaster. Data breaches are costly and painful, and the consequences can range from regulatory approvals to brand damage. The support for secure device wipes and local device-level encryption is different.
North America is predicted to dominate the worldwide mobile data protection market due to early acceptance of data security by businesses in the United States and the existence of a large number of mobile data protection vendors in the region. The majority sales of mobile data protection will be consolidated as a result of this.
Furthermore, cloud technology usage is high in this region. North America is also the most important contributor to the global IT BFSI business, which is the largest market for mobile data security. Furthermore, as a result of stringent regulatory requirements, businesses are attempting to provide security services.
| Regions | CAGR (2022-2032) |
|---|---|
|
United States |
19.9% |
|
United Kingdom |
20.3% |
|
China |
22.1% |
|
Japan |
22% |
|
India |
22.2% |
The global market for mobile data protection solutions is a highly fragmented, niche sector with a small number of players. For the creation of novel products, the leading industry players are primarily forming alliances and acquiring companies. The market is extremely fragmented and fiercely competitive, with the technology landscape and norms continually changing. Manufacturers are increasingly offering data and information management solutions based on their resources and capabilities. They are expanding their product portfolios through mergers and acquisitions.
The key companies profiled in the mobile data protection market are Symantec Corporation, Sophos Ltd, Microsoft Corporation, McAfee LLC, Kaspersky Lab, Intel Corporation, Hewlett Packard Enterprise, Thales Group, Dell Inc, and Cisco Systems Inc.
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2015-2021 |
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Market analysis |
USD Bn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
By Solution
By Development Type
By Industry Vertical
By Region
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The mobile data protection market is projected to have a CAGR of 20.2% through 2032.
The U.S. mobile data protection market is expected to be valued at US$ 9.7 Bn by 2032, growing at a rate of 19.9% through the forecast period.
BFSI is anticipated to lead the mobile data protection market’s industry vertical segment with a high growth rate of 21.5% throughout the forecast period.
The mobile data protection market is predicted to grow US$ 40.2 Bn by 2032.
Android is the leading platform of the mobile data protection market with a growth rate of 20.4% throughout the forecast period.
