The Europe Mobile Encryption Market would witness market growth of 22.6% CAGR during the forecast period (2023-2029).
Data protection for mobile devices like smartphones and tablets is accomplished through encryption technology. Several factors, such as the increased incidence of cyber risks and data breaches, the rising use of mobile devices for personal & professional purposes, and the expanding uptake of mobile encryption solutions by enterprises and government agencies, are driving the market. One of the main drivers of the market is the rising concern for data security.
Data security is becoming increasingly important as mobile devices are utilized for both personal and professional purposes, and the frequency of high-profile data breaches and cyber-attacks has increased in recent years. Mobile devices, such as smartphones and tablets, frequently include sensitive data, including financial and personal information, which can be compromised if the device is in the wrong hands. Many industries, like healthcare and banking, are subject to stringent data privacy rules and regulations and worries about personal data security. To achieve compliance with these rules, mobile encryption is frequently required.
Some of the major competitors are concentrated on providing modern solutions that can improve customer experience quickly and conveniently in European nations. As a result, the second-leading market is said to be Europe, and this ranking is expected to continue true for the duration of the prediction. Increased use of cloud-based platforms for digital payments, data storage, and online trade, combined with the quick uptake of smart technologies like cloud computing, artificial intelligence (AI), and the Internet of Things (IoT), significantly boosts the market's revenue growth in this area. Several regional governments are also in favor of contemporary digital currencies like crypto. These elements are anticipated to encourage the expansion of the regional market.
The Germany market dominated the Europe Mobile Encryption Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $715.9 million by 2029. The UK market is estimated to grow at a CAGR of 21.5% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 23.5% during (2023 - 2029).
Based on Application, the market is segmented into Disk Encryption, File/Folder Encryption, Communication Encryption, Cloud Encryption and Others. Based on Solution, the market is segmented into Software and Service. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & medium-sized Enterprises. Based on Vertical, the market is segmented into IT & Telecom, BFSI, Transportation & Logistics, Educational Purpose, Healthcare & Dental, Retail, Manufacturing, Government and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Mobile Encryption Market is Projected to reach USD 11.1 Billion by 2029, at a CAGR of 23.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BlackBerry Limited, Broadcom, Inc., McAfee Corp., IBM Corporation, Thales Group S.A., Cisco Systems, Inc., Microsoft Corporation, Sophos Group PLC (Thoma Bravo), Cellebrite DI Ltd., and Amazon Web Services, Inc. (Amazon.com, Inc.)
By Application
By Solution
By Deployment
By Enterprise Size
By Vertical
By Country
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