The Latin America, Middle East and Africa Mobile Encryption Market would witness market growth of 27.5% CAGR during the forecast period (2023-2029).
The privacy of personal and professional information saved on cell phones is a growing concern. As a result, mobile security is now more common in mobile computing. Sensitive information is compressed into ciphered text through the reversible process of encryption. This ensures that unauthorized users who attempt to access data cannot acquire important information. In addition, there are benefits to mobile encryption, including the installation of authentication and authorizations, backend network connection security, and data security.
One of the main factors driving demand for mobile encryption solutions is expanding cloud-based storage across several companies to safeguard sensitive electronic data, such as contact information, credit card numbers, and bank passwords. Therefore, there should be more opportunities to include mobile devices to improve cloud security solutions due to the significant growth in mobile encryption.
In order to perform its transactions, the UAE government embraced blockchain technology. The Dubai Blockchain Strategy and Emirates Blockchain Strategy 2021 were introduced to support this development. By 2021, 50% of government transactions are expected to be conducted on the blockchain, according to the Emirates Blockchain Strategy 2021. By 2020, Dubai will have become the first city entirely run on blockchain due to the Dubai Blockchain Strategy. Dubai Future Foundation founded the Global Blockchain Council to investigate, discuss, and organize transactions through the blockchain platform to integrate the most modern technology and innovation techniques. A considerable opportunity for market participants to invest in the regional market is presented by the rising acceptance of blockchain and other cutting-edge technologies and the numerous government initiatives to boost adoption.
The Brazil market dominated the LAMEA Mobile Encryption Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $234 million by 2029. The Argentina market is experiencing a CAGR of 28.2% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 27.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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