The mobile data protection market is valued at $1.949 billion for the year 2019 and is expected to grow at a CAGR of 32.53% to reach a market size of $13.999 billion by 2026, according to ResearchAndMarkets.

Mobile Data Protection (MDP) is a technique that manages the encryption of data on a workstation’s primary storage system in various data storage platforms, such as solid-state drives, portable media, and hard drives, and is used in conjunction with smartphones and workstations. It includes offline/standalone removable media agent, active target device endpoint agent and central console.

Data on mobile storage systems, such as removable media, cell phones, and laptops, is protected by mobile data protection (MDP). It also offers a unique set of protection policies that can be used on various platforms.

CIOs need to understand the nuances of mobile operating systems, select which devices to authorize in the office, and understand native data security to secure mobile data. Protecting company data from theft or loss is a major responsibility for every business. Data breaches are costly and traumatic, with ramifications ranging from regulatory fines to brand damage.

Secure device erase and native device-level encryption are not always supported. Therefore, it is common for IT managers to adopt a two-pronged strategy to protect mobile data. First, they enforce and create minimum requirements for external devices ready to connect to the corporate network, and then they patch platform gaps with third-party mobile security technology.

Remote data wipe for mobile devices, mobile device lockout, mobile activity monitoring and auditing, and encryption of data stored on mobile devices are all options to protect data mobiles.

Business Benefits

Mobile Data Protection (MDP) has been widely used by enterprises to improve business efficiency while ensuring data security. With the growing adoption of BYOD (Bring Your Own Device), there is an increased risk associated with data loss. This leads to an increasing implementation of CDM solutions to secure corporate data and minimize threats.

Inclination of BFSI industry adoption to contribute to market size

Banks and financial institutions operate in a highly regulated industry. In recent years, the BFSI sector (banking, financial services and insurance) has seen several technological advances.

Due to the perceived value of the underlying data, the digitization of financial services, insurance claims, and information gathering has resulted in huge data ownership, making it one of the top breach targets. of data.

The increase in the amount of personal data available is propelling the growth of the market

Much of the new online activity in the global information economy now relies on personal data. Every day, huge volumes of data are transferred, stored and collated around the world, enabling tremendous advances in computing and communication capabilities. Mobile phone use and increased Internet access have enabled online social, economic and financial activity in developing countries.

Expand online exposure to help develop the mobile data protection market

As more business and social activities move online, privacy and data protection become increasingly important, especially in the context of international trade, which helps the market grow. Many companies have embraced cloud computing, which has led to an increase in data management issues.

In addition, data transfer has increased the risk of data loss, illegal data processing and theft. With all the above risks, it is more important than ever to develop solutions to secure data.

Growing Use of Small Devices to Increase Mobile Data Protection Market Growth

The expansion of small device usage patterns in enterprises has led to significant risk of data loss, prompting the adoption of mobile data security systems.

Likewise, the evolving work culture in companies of all sizes is generally embracing trends such as bring your own device, cloud and online media, as well as strict mobile data protection rules, which are likely to contribute to the growth of mobile data. protection market.