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Albany, New York, July 16, 2019 (GLOBE NEWSWIRE) -- The global mobile data protection solutions and services market is poised for considerable expansion during the forecast period, thanks to the phenomenal penetration of smartphones and internet.
Hewlett Packard Enterprise, McAfee LLC, Cisco Systems, Inc., Symantec Corporation, and Microsoft Corporation are some of therenowned names that operate inthe global market formobile data protection solutions and services.
According to a new study by Transparency Market Research (TMR), it is predicted that the global mobile data protection solutions and services market will rise at a double-digit growth rate, 26.7% CAGR, between 2018 and 2026. Growing at such a rapid pace, this market will acquire prominence reaching US$18,304.6 mn by the end of 2026.
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North America Leads the Market due to High Incidence of Data Breach
In terms of region, the global mobile data protection solutions and services market is divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these, North America is estimated to dominate the market and expand at significant CAGR over the forecast period. This is owing to the increasing focus on modernization of IT infrastructure and ongoing technological progress in the region. Product modernization and incessant research and development activities in the region are further attributed with the considerable growth of the regional mobile data protection solutions and services market.
Large numbers of small and large-scale organizations from North America are investing heavily in mobile data protection solutions and services to reduce secure their data. Increasing technological advancements, growing GDP, expansion of the IT industry, and augmented implementation of data protection solutions in the region are some of the other factors responsible for this region’s growth.
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While North America will dominate with the largest revenue share, TMR analyst says that Asia Pacific will emerge as a promising region. This is due to the increasing adoption of data protection solutions in theBFSI and IT & telecom industries owing to fraudulent activities, cyber-attacks and malicious attacks.
Adoption of New IT Solutions with Evolving Consumer Trend Escalates Market demand
Mobile data protection solutions and services refer to the technology that applies data privacy guidelines. In today’s, world data travels regularly from corporate servers to unsecured personal devices, and to various apps and into the cloud. It, therefore, leaves a digital trail of copies virtually at every point along its route and thus mobile data security is more important than ever before. As the use of mobile device continues to skyrocket, securing data at every possible point along the way is a critical and colossal task. Through the utilization of a variety security measures, it is possible to give the employees the flexibility to work where and when they need to – at any time and virtually on any device.
In a bid to maximize protection, mobile data security solutions can usually be combined. For instance, by combining both mobile device management and mobile application management solutions, companies can use both on-premises and in the cloud security measures. Such a measure will protect their data while it is in use at the office and wherever their team members may be.
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Bring your own devices or BYOD is an emerging trend across businesses. This trend has led to several threats for organizations comprising data loss and other security concerns. Such concerns for security is escalating the need for adoption of the mobile data protection solutions and services. It enables users to securely share, transfer, access, and store data.
Furthermore, adoption of mobile data protection solutions and services leads to simplification of security management. It means enforcement and implementation of company broad security policies that regulate data encryption and user authentication from a central platform. It also reinforces compliance with internal and external security regulations.
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The information shared in this review is based on a TMR report, bearing the title, “Mobile Data Protection Solutions and Services Market (Platform - Windows, Android, iOS, MacOS, Blackberry, and Linux; Deployment – Cloud and On-Premise; Industry – Education, Healthcare, Retail, BFSI [Banking, Financial Services and Insurance], Government, IT and Telecom, Manufacturing, Media and Entertainment, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018– 2026.”
The global mobile data protection solutions and services marketis segmented based on:
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