Mobile Encryption Market to Hit $230 Million This Year

    October 25, 2013

The rush of the quickly growing mobile device industry has made it easier than ever for people to share their lives in real-time. Unfortunately, this has led to privacy and security concerns that have not yet been fully resolved. As businesses prepare to follow the industry with smartphone and tablet enterprise integration, market watchers now predict that the mobile security industry is poised for explosive growth in the coming years.

However, it seems that the mobile security industry is already growing ad a rapid pace. Market research firm ABI Research today released its prediction for this year’s mobile security market. Mobile encryption alone, including both software and services, is expected by the firm to hit $230 million by the end of 2013. This is a large portion of the $560 million the firm predicted this year for the total mobile security management industry back in August.

In its report, ABI calls out device manufacturers and mobile providers for their slow adoption of security software. The firm predicts that much of the segment’s growth will be pushed by security and mobile device management companies in the short-term.

Business will have to evaluate their mobile security strategies soon, as the benefits of mobile, connected workforces turn into essential competitive strategies. Employees bringing their own personal device to work also requires a security strategy. ABI analysts believe that mobile authentication and encryption services will become a major portion of these strategies, emphasizing “effective key management.” The firm predicts that successful mobile encryption services will offer both resource integration and mobile device management services in one package.