Market Synopsis

As per the analysis by Market Research Future Reports (MRFR), the global worldwide mobile security market is estimated to grow from USD 10.50 billion in 2017 to USD 48.85 billion by 2023 at a CAGR of 29.55% during the review period.

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The essential factor booming the Mobile Security Market 2020 is the increasing concern of protecting data on enterprise mobile devices. The rise in the usage of mobile phones for banking and e-commerce has made it crucial for the deployment of security software in mobile devices. The need to adhere to security parameters and to increase the adoption of two-factor authentication are some other crucial factors bringing an impact on the growth of the market. The rising adoption of cloud-based technology is likely to propel the market during the review period. The increasing penetration of smartphones has motivated may regional, global, and local companies to develop mobile security software. The growing trend of Bring Your Own Device (BYOD) has propelled the market exponentially. However, increasing cyber-attacks is the biggest hurdle faced by the developers of security solutions. Moreover, pirated and free mobile security can be procured easily, which hampers the growth of the market.

Regional Insight

Mobile Security Market Size has been evaluated by MRFR, while taking into account the key regions of Europe, North America, APAC/Asia Pacific and RoW/the rest of the world. it is anticipated that the North America could attain the leading spot, with Europe emerging as the second-most profitable market.

North America’s lead in the Mobile Device Security Market will be on shouldered by countries like the US and Canada, where adoption of the latest technologies is quite common. The region holds some of the most renowned mobile security software and service providers, which adds to the strength of the market. The prevalence of various government initiatives pertaining to cyber security across government agencies and federal departments also enhances the market position in the region.

The fastest emerging market belongs to APAC, thanks to the mounting uptake of mobile security software and solutions among enterprises and SMEs in India, China, Singapore and Japan. The expansive IT sector along with the huge number of consumer electronics manufacturers present here also fuels the market expansion. Interestingly, the Middle East & African and Latin American markets can exhibit substantial growth in the coming years, given the rising importance of digitization among companies and the increasing prominence of the BYOD trend.

Market Segmentation

The Mobile Security Industry is classified on the basis of end-user, operating system, solution, deployment, and region.

On the basis of end-user, the market is segregated into retail, individual users, and financial institutions.

On the operating system, the market is segregated into windows, iOS, android, blackberry, and others.

On the basis of the solution, the market is segregated into the firewall, multi-factor authentication, mobile data protection, data encryption, and mobile application management.

On the basis of deployment, the market is segregated into on-premises and cloud.

On the basis of region, the market is segregated into Europe, America, Asia-Pacific, and the Rest of the World (RoW).

Industry News

Apple iPads and iPhones are vulnerable to hacking through the mail app because of a flaw in its email software. As per the study, two vulnerabilities were found in the mail app, which would have allowed the hackers to steal data for years. The issue came into notice while a cyber-attack was being investigated.

Key Players

The forefront players of the global worldwide mobile security market are Honeywell International Inc. (U.S.), IBM Corporation (U.S.), ABB Ltd (Switzerland), Schneider Electric (France), Cisco Systems, Dell In, Rockwell Automation (U.S.), Bayshore Networks (U.S.), Symantec Corporation (U.S.), Kaspersky Labs (Russia), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google Inc. (U.S.), AVG Technologies (Netherlands), Kaspersky Lab (Russia), Intel security group (U.S.), Apple Inc. (U.S.), Verizon Communication Inc. (U.S.), AT&T Inc. (U.S.), and a few more.

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