Increasing Adoption of BYOD is Driving the Growth of Mobile Data Protection Solution and Services Market
Globally, the mobile data protection solution and services market is expected to grow with a CAGR of 21.5% during the forecast period from 2023 to 2030. The growth of the market is driven by the increasing adoption of bring your own device (BYOD) policies and enterprises mobility solution among the organizations. As the adoption of the smartphones and tablets are increasing rapidly across the globe, the enterprises are shifting towards BYOD policies to provide flexibility of using own devices for work purpose and reduce the capital cost of IT infrastructure. However, as the employees started using their own devices at workplace, the risk of data theft and unauthorized access to enterprise data also rises.
To address these challenges, the enterprises are adopting the mobile data protection solutions and services to protect their data. The increasing incidence of the cyber attacks and data breaches across the globe is also acting as the major force propelling the market growth. However, the growing demand among the organization for competent management of data is inhibiting the growth of the market. Besides, low awareness about the mobile data protection solution along with the high initial cost is also restricting the growth of the market. Additionally, growing adoption of the heterogeneous platforms of devices is acting as a burning issue among the market players.
Cloud Deployment Model to Grow Significantly During the Forecast Period
The mobile data protection solution and services market is segmented based on the deployment into on-premise and cloud model. The on-premise deployment model accounted for more than 60% share in the market revenue in 2020. The growth of the market is attributed to the robust security offered by the model. However, cloud deployment model is estimated gain lot of traction throughout the forecast period. The growth of the market is driven by the cost effective nature of the model. Furthermore, the scalability and flexibility offered by the model also acts as a major driver for the market.
North America is Leading the Mobile Data Protection Solution and Services Market
North America dominated the mobile data protection solution and services market with 34% share in the revenue in 2020. The early adoption of the BYOD policy and enterprise mobility among the organizations in the region is the primary factor supporting the market growth. Furthermore, the increasing adoption of the smartphone and tablet users in the region also fosters the growth of the market. Additionally, the increasing cyber attacks in the region is also encouraging the adoption of the mobile data protection solution and services.
The key players in the mobile data protection solution and services market are Cisco Systems Inc, CheckPoint Software Technologies Pvt. Ltd., Dell Inc, EMC Corporation, Gemalto NV, Hewlett-Packard, Intel Corporation, McAfee LLC, Microsoft Corporation, Sophos, Symantec Corporation, and Trend Micro Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mobile Data Protection Solution And Services market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Solution
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Service
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Deployment
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
