Mobile Data Protection Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Mobile Data Protection Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Mobile Data Protection market was valued at USD 1.94 billion in 2020 and is expected to reach USD 8.93 billion by 2026, at a CAGR of 29% over the forecast period 2021 - 2026. The growth of mobile devices globally, supplemented with the progress of data accessibility techniques has given unprecedented access to data. With the authorization to use smart devices for accessing corporate data ubiquitously, businesses have benefited by taking timely business decisions. Besides, these sweeping advancements in mobile data accessibility have amplified their profitability and augmented their business productivity. But this vast amount of data that resides within the organizations and that which continually travels over the network runs the continual danger of being tampered and misused. To cohesively safeguard this entire data, the enterprises have been broadly considering the usage of Mobile Data Protection solutions.

Mobile Data Protection market is now gaining traction in various end-user industries and has caught the eye of multiple organizations for better security of mobile data. The important trend that the market is witnessing include, increasing mobile data volume and growing adoption of BYOD among organizations are some main reasons, owing to the growth of mobile data protection market.

Key Market TrendsIncreasing Adoption of Mobile Payment Solutions will Drive the Mobile Data Protection Market

• An increase in the number of mobile payments has led to mobile data breaching cases increasing significantly, hence acting as a significant factor for driving the mobile data protection market. The growth of mobile payments is the highest among other payment methods. This growth has also increased mobile data. In 2017, the mobile data traffic reached 11 Exabyte’s a month, climbing rapidly into the future.
• Moreover, with an increasing number of mobile wallets, like Apple pay, android pay, and Walmart pay, the market for mobile data protection is expected to develop further. It is estimated that nearly 2.1 billion consumers worldwide would use a mobile wallet to make a payment or send money by 2019, up by almost 30%, as compared to 2017. With the growing adoption of smartphones for payments, the demand for mobile data protection is expected to grow over the forecast period.
• Furthermore, the ever-increasing adoption of AR and contactless payments among smartphones is also expected to increase the demand for mobile data protection solutions further. For e.g. According to RBI, the Mobile banking services in India witnessed a growth of 92 percent and 13 percent in volume and value terms respectively, while the number of registered customers rose by 54 percent to 251 million at end of March 2018 from 163 million at end of March 2017-RBI.

North America Anticipated to Dominate the Mobile Data Protection Market

• North America market is expected to dominate the global mobile data protection market, owing to its early adoption of data security by companies in the United States, coupled with the presence of a large number of mobile data protection vendors in the region, which would help consolidate the majority of revenues in the mobile data protection market. Additionally, the adoption of cloud technologies, in this region is also very high.
• North America is also the most significant contributor to the global IT BFSI market, the primary market for mobile data protection. Moreover, stringent government regulations are resulting in companies working to provide security services. The region also has one of the highest adoptions of smartphones among industries, making it a prominent leader in the mobile data protection market.
• Furthermore, Increasing usage of IoT devices, such as BYOD, to access healthcare and banking services is a key trend for the North American market, which shows a great scope for mobile data protection market.
• Asia-Pacific will be the fastest growing market owing to the rapid penetration of smartphones and internet connectivity across geographies in Asia. Further countries like India have been developing policy regulations to encourage electronic transactions to bring down the overall cost of delivering last mile banking services.

Competitive Landscape

The Global Mobile Data Protection Solutions Market is a highly fragmented, niche market with the presence of a limited number of vendors. The key industry players are primarily engaging in partnerships and acquisitions for the development of innovative products. The market is highly fragmented and intensely competitive, marked by constantly-evolving technological landscape and standards. There has been a rise in the number of manufacturers who offer data and information management solutions, using their resources and capabilities. They are further extending their product portfolios by undertaking mergers & acquisitions

• April 2019 - Thales S.A. completed the acquisition of Gemalto N.V., creating a global leader in digital identity and security. With Gemalto, Thales will cover the entire critical decision chain in a digital world, from data generation via sensors, to real-time decision support.
• March 2019 - CipherCloud, Inc., a leader in cloud security, announced the availability of its new Secure SaaS Workspace solution as part of its award-winning CASB+ platform. CipherCloud’s new solution leverages contextual and behavior analytics, integrated with identity and mobile security, to secure user access to data in any enterprise cloud application, extending the enterprise security controls all the way to the cloud data on the user devices.
• January 2018 - Intel Corporation provided its mobile data protection software, McAfee Complete Data Protection, Advanced Suite, and McAfee ePolicy Orchestrator (McAfee ePO) software to UMIVALE, which is a non-profit organization based in Spain, to increase protection against attacks, improve data monitoring and utilization and faster data protection.
• March 2018 - Druva and Wipro collaborated for Data Management-as-a-Service in Mobile Devices. Along with Druva’s longtime service for Windows devices, this deal enables the service for Apple devices, which are making more and more of an impact in the enterprise.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Dell Inc.
Microsoft Corporation
Hewlett Packard Enterprise Development LP
Broadcom Inc. (Symantec Corporation)
Trend Micro Incorporated
McAfee LLC
Check Point Software Technologies Ltd.
Cisco Systems, Inc.
Thales Group (Gemalto N.V.)
CipherCloud, Inc.

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