With 14.6% CAGR, Mobile Security Market Size to Reach USD 103.45 Billion [2022-2027]
Fortune Business Insights
8 min read
Fortune Business Insights
According to Fortune Business Insights, the global Mobile Security Market Size is projected to hit USD 103.45 Billion in 2027, at CAGR of 14.6% during forecast period [2022-2027]; Adoption of Advanced Security Solutions in North America to Foster Exponential Growth
Pune, India, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The global mobile security market size is likely to gain momentum by exhibiting a promising 14.6% CAGR between 2022 and 2027. This is ascribable to factors such as increasing adoption of advanced mobility solutions and increasing cyberattack incidents across the globe. Fortune Business Insights, publish this information in its latest report, titled “Mobile Security Market Size, Share and Industry Analysis, By Component, By Operating System, By Vertical, and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 34.94 billion in 2019 and is projected to reach USD 103.45 billion by 2027.
Industry Development:
September 2019 - F-Secure, a Finnish cyber security firm, announced its launch of consultancy services across 11 different locations spread across four continents of the world. According to the company, the primary aim of their consultancy services is to defend cyberattacks for the organization by adopting emerging technologies.
Increasing Demand for Bring Your Own Device (BYOD) Anticipated to Drive the Market
Lack of Awareness about Cyber Security and Vulnerability to Hinder Growth
Drivers and Restraints:
Increasing Adoption of Enterprise Mobility Solutions to Promote Growth
Enterprise mobility solutions ensure that the organizations enable the employees to adopt secure mobile devices. In addition to this, it involves securing corporate data present in the mobile devices of the employees to prevent data theft and economic loss. Furthermore, the emergence of technologies such as the internet of things (ioT) and machine learning is enabling enterprises to promote enterprise mobility among their employees. According to a report by Soti, Inc., about three fourth of the employees in the United States are expected to be introduced to the mobility working environment in the forthcoming years. Moreover, the increasing risk of cyberattacks and malware is expected to drive the demand for the global market during the projected horizon.
Regional Analysis:
North America to Remain at the Forefront; Increasing Adoption of Mobile Security Solutions to Augur Growth
Among the regions, the market in North America was worth USD 10.38 billion and is expected to gain major global mobile security market revenue during the forecast period. This is ascribable to factors such as the increasing adoption of advanced mobile security solutions owing to rise in cyberattack and malware incidents in the region. Asia-Pacific, on the other hand, is likely to witness significant growth during the forecast period. This is attributable to factors such as massive development in the IT industry. Furthermore, special impetus by the governments in countries such as India and China on fortifying the cyber world by establishing stringent data security regulations will contribute to the market
Mobile Security Industry majorly refers to the term that involves the safety of user data of a mobile device. Additionally, it involves authentication and protection of private data stored in the connected devices such as smart phones, tablets, and personal mobile devices. Furthermore, it involves basic to an advanced forms of security such as personal identification number (PIN), pattern locks, and fingerprint and eye reader, among others. With increasing adoption of smartphones across the globe, the need for efficient security solutions for mobile devices to prevent incidents of malware and cyberattacks is growing largely.
What does the Report Include?
The mobile security market share report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
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Market Segmentation:
Segmentations
By Component
Solutions
Services
By Operating System
iOS and MacOS
Android
Windows
Others (Linux, Blackberry, etc.)
By Vertical
BFSI
IT & telecom
Healthcare
Manufacturing
Retail
Education
Government
Others (Transport, Logistics, etc.)
Competitive Landscape:
V-Key Collaborating with TONIK Digital Bank to Aid Growth
Fortune Business Insights with its quantitative and qualitative detailed analysis observes that the market comprises of several players trying to consolidate their position in the global mobile security market during the forecast period. Adoption of strategies such as collaboration, merger and acquisition, and product launches by the companies will bode well for the market growth. For instance, in May 2020, V-Key announced its collaboration with TONIK digital bank. As per the collaboration, V-key will provide security to the mobile banking platform of TONIK’s new customers based in Philippines. Greg Krasnov, CEO of TONIK, said on the sidelines of the development, “We choose V-Key owing to its history with major banks across the region, wherein their security solutions have been tested and validated. Furthermore, their technology is protected by a global patent with proven track record of delivering security and trust to the customers.”
Companies Profiled in the Mobile Security Market Report:
Microsoft Corporation (New Mexico, United States)
Google LLC (California, United States)
IBM Corporation (New York, United States)
Lookout, Inc. (California, United States)
Apple, Inc. (California, United States)
Kaspersky Lab (Moscow, Russia)
Intel Corporation (California, United States)
VMware, Inc. (California, United States)
AVG Technologies (Prague, Czech Republic)
Symantec Corporation (Arizona, United States)
F – Secure Corporation (Helsinki, Finland)
Oracle Corporation (California, United States)
NortonLifeLock, Inc. (Arizona, United States)
Zimperium (Texas, United States)
Giesecke+Devrient Gmbh (Munich, Germany)
Quick Buy - Mobile Security Market Research Report:
The global mobile security market size stood at USD 34.94 billion in 2019 and is projected to reach USD 103.45 billion by 2027, exhibiting a CAGR of 14.6% during the forecast period.
Which industries use mobile security?
BFSI, IT & telecom, healthcare, government, education as well as retail and manufacturing industries use security solutions for mobiles
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