Mobile Data Protection Solutions and Services Market – Snapshot
Mobile data protection solutions and services is the technology that applies data privacy guidelines by managing data encryption on the principal storage system of a workstation in various data storage platforms such as solid-state disks, removable media, and hard drives used in alliance with smartphones & workstations. The mobile data protection solutions and services market is expected to gain momentum due to various benefits. Users can securely store, access, transfer, and share data. It also simplifies security management and supports compliance with external and internal security regulations.
In more recent times, many technological advancements have taken place in the mobile data protection solutions and services market. BFSI, IT & telecom, education, government, and healthcare sectors apart from manufacturing industry widely use mobile data protection solutions and services. Therefore, the mobile data protection solutions and services market is expected to expand at a rapid pace in the coming years. Growing need to adopt new IT solutions with modern consumer trends across the world is primarily driving demand for mobile data protection solutions and services. This is anticipated to drive the market over the forecast period. Moreover, increase in demand for data protection solutions from the IT & telecom industry is expected to fuel the growth of the market in the near future. However, high operational costs are anticipated to hinder the growth of the market across the world. The mobile data protection solutions and services market is likely to reach a value of US$ 18,304.6 Mn by 2026 from US$ 2,269.2Mn in 2017, expanding at a CAGR of 26.7% during the forecast period.
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Based on platform, the mobile data protection solutions and services market has been segmented into Windows, Android, iOS, MacOS, Blackberry, and Linux. The Android segment accounted for a significant market share globally in 2017.This segment is projected to hold its leading position over the forecast period. Smartphones, tablets, personal digital assistants (PDAs), and other mobile devices with Android operating system is the most popular among end-users across all regions. The iOS segment is estimated to expand at a rapid pace during the forecast period. iOS platform is the second most popular OS for mobile devices and it was designed and developed by Apple for use on its iPhone devices only.
Based on deployment, on-premise based mobile data protection solutions and services segment occupied major share in 2017 due to its cost effectiveness, flexibility, and scalability, while the cloud based mobile data protection solutions and services segment is likely to expand significantly over the forecast period. The public cloud sub-segment accounted for a prominent share of the cloud segment in 2017 due to growing availability of mobile data protection solutions and services application on various portable devices, which are mostly governed by public clouds, and are expected to expand at a significant pace during the forecast period.
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In terms of enterprise size, the global mobile data protection solutions and services market has been bifurcated into small & medium enterprises (SMEs) and large enterprises. Globally, large enterprises held major market share of mobile data protection solutions and services in terms of usage. Large enterprises prefer using on-premise solutions as they deal with a high volume of confidential business documents, and procuring third-party solutions may make their networks prone to data leakage. On the other hand, small and medium enterprises (SMEs) adopt the BYOD policy which demands varied security software to protect corporate data. This enterprise segment is increasingly adopting cloud based mobile data protection solutions and services.
Based on industry vertical, the market has been categorized into education, healthcare, retail, BFSI (banking, financial, services and insurance), government, IT & telecom, manufacturing, media & entertainment, and others. Others segment includes hospitality, aerospace & defense, travel and transport sector, and other related sectors. The BFSI sector is the prominent user of mobile data protection solutions and services followed by the IT & telecom sector, while the healthcare sector is projected to expand at a rapid pace over the forecast period. Healthcare sector is projected to witness higher level of adoption, thereby creating a high potential customer base.
The market in North America is anticipated to contribute significantly to revenue in the near future due to a large base of existing users in the region. The market in Europe and South America is anticipated to follow a similar trend between 2018 and 2026. Furthermore, the market in APAC and Middle East & Africa is likely to expand at a robust CAGR in the coming years.
Attracted by the increasingly expanding mobile data protection solutions and services market, many small and large scale enterprises are investing in mobile data protection solutions and services in order to reduce the chances of data loss. Product innovation and upgrade of research and development are constantly taking place in this market. For instance, in October 2016, Dell announced its Endpoint Data Security and Management portfolio encompassing solutions from Dell, Mozy by Dell, RSA, and VMware AirWatch. This portfolio offers leading cybersecurity and endpoint management solutions to deliver robust data protection while unlocking the speed, agility, and innovation of today’s mobile workforce. Prominent players identified in the mobile data protection solutions and services market and profiled in the study include Microsoft Corporation, Cisco Systems, Inc., Symantec Corporation, Intel Corporation, Gemalto NV, Hewlett Packard Enterprise, and McAfee LLC.
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Bulging Remotely Working Employees Nudge IT to Consider Advanced Platforms in Mobile Data Protection Solutions and Services Market
Company-owned mobile devices are rising in use worldwide with IT-enabled and IT-networked becoming commonplace. In recent times, the world has been witnessing an astounding rise in workforce working remotely or mobile workforce. It has become a norm in the present COVID-19 times. Hence, there has been a new disruption in the direction of need for new offering in mobile data protection solutions and services. The demand for robust endpoint solutions to protect company data and privacy of workplace flow of information has become more critical than ever. In response, industry players have beefed up their product portfolio, leading to a flood of mobile data protection solutions and services in recent months. This also been picked up momentum on the back of growing suspicious activities from various nefarious elements to utilize vulnerabilities to disrupt the routine deliberations of mobile workforce. IT departments of businesses and organizations are keen on adopting comprehensive monitoring programs and data encryption systems with the desired level of granularity. These software and services are meant to not hamper the flexibility of their workers and employees. Many of these services also aim at boosting the network connectivity.
The COVID-19 after it was declared global pandemic in March 2022 by the WHO had hit the world with several outbreaks. Since then, all major economies of the world have suffered from the debilitating waves of the viral disease. The health and humanitarian crisis had taken a massive tool on lives, caused populations to panic due to lack of an adequate infrastructure, and led to massive economical losses. The government-imposed lockdowns to contain the community spread of the virus have led to loss of livelihoods at unprecedented scale, bringing gloom and despair. A predominant portion of the working population was forced to shift to working remotely while only essential services continued to work in several nations. Consequently, there was a rise in demand for virtualization services for enterprise IT and need to strengthen ICT and related networking services. All these trends have paved way to new avenues and revenue streams in the mobile data protection solutions services.
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