Meticulous Research®—a leading global market research company, published a research report titled, ‘Mobile Security Market by Component (Solution, Services), Operating System (Android, iOS), Deployment Mode (On-premise, Cloud-based), End User (BFSI, Telecom, Retail) and Geography- Global Forecasts to 2029.’
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In its latest report, Meticulous Research® unveils projections indicating that the global mobile security market is poised for a remarkable growth trajectory, anticipated to achieve a CAGR of 21.7% from 2022 to 2029, reaching a valuation of $19.5 billion by the end of the forecast period. This surge is primarily attributed to the burgeoning population of smartphone users and mobile phone subscriptions, coupled with the escalating utilization of third-party applications. Additionally, the burgeoning demand for cloud-based solutions is anticipated to unlock significant growth avenues. Nevertheless, the proliferation of open-source and free security solutions may somewhat impede market expansion.
Diving into the segmentation, the global mobile security market is delineated by component, operating system, deployment mode, and end user. The comprehensive analysis extends to industry competitors and delves into market dynamics at both country and regional levels.
When dissecting the component, the market is divided into solutions and services. Notably, in 2022, the solutions segment is predicted to dominate the market, driven by mounting concerns regarding data security and privacy in mobile devices. This segment is poised to exhibit the highest CAGR throughout the forecast period.
Operating system-wise, the market encompasses android, iOS, and other operating systems. The android segment is envisaged to occupy the lion's share in 2022, attributed to the pervasive use of android-enabled mobile devices for critical functions like e-commerce and banking. This segment is also anticipated to register the highest CAGR moving forward.
The deployment mode segment comprises on-premise deployment and cloud-based deployment. In 2022, the cloud-based deployment mode is anticipated to command a larger market share and is expected to witness the most robust growth trajectory. This is ascribed to the burgeoning demand for Bring Your Own Device (BYOD) services and the uptick in cloud computing adoption across enterprises.
Lastly, in terms of end users, the market encompasses both enterprises and individuals. While enterprises are anticipated to lead the charge in 2022, fueled by the escalating demand for BYOD across working environments, the individual segment is projected to witness the highest CAGR during the forecast period.
Geographically, Asia-Pacific emerges as the frontrunner, poised to command the largest share of the global mobile security market in 2022. This dominance is underpinned by the heightened adoption of mobile security software by Small and Medium-sized Enterprises (SMEs) and enterprises alike, alongside a surging appetite for wireless security solutions. Furthermore, the region is forecasted to experience the most rapid growth momentum.
In the arena of key players, Trend Micro Incorporated, Armis, Inc., and AT&T, Inc., among others, are highlighted as prominent entities shaping the mobile security market landscape with their innovative offerings and strategic endeavors.
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