According to Market Research Future (MRFR)’s assessment, the global mobile security market is poised to exhibit a CAGR of 29.55% during the forecast period 2018 to 2023. The analysis further reveals that the market value is anticipated to reach USD 48.85 Bn mark by 2023-end up from USD 10.50 Bn in 2017. The rising reliance on online solutions has intensified concerns regarding data protection. This, in turn, has opened new avenues of growth potential for the market participants.
The governments are also initiating the implementation of security standards for safeguarding the customer and checking illegal practices. It is presumed to have a favorable impact on the expansion of the mobile security market in the years to come. Also, the increasing penetration of internet services in the BFSI sector is expected to catalyze market growth over the assessment period.
The growth of the e-commerce sector has necessitated the standardization of security features for a booming future. It is prognosticated to support the growth pattern of the mobile security market across the review period. Also, the constantly rising demand for smartphones is poised to accelerate revenue creation for market participants. On the flip side, the availability of pirated mobile security solutions is set to hinder the expansion of the market in the foreseeable future.
By solution, Mobile Device Security Market has been segmented into multi-factor authentication, data encryption, mobile application management, mobile data protection, and firewall.
By deployment, the mobile security market has been segmented into cloud and on-premises.
By operating system, the global mobile security market has been segmented into iOS, blackberry, android, windows, and others.
By end-user, the mobile security market has been segmented into individual users, financial institutions, retail, government, telecom and IT, education, manufacturing and automotive, and others.
The global mobile security market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is currently dominating the global market and is poised to retain its dominance over the next couple of years. The U.S. and Canada are likely to hold the most prominent shares of the regional market through the forecast period. The region houses major vendors of mobile security solutions which are anticipated to boost the growth pattern of the market in the foreseeable future. Europe is anticipated to trail the mobile security market in North America in terms of market size and revenue. It is prognosticated to exhibit similar growth trends over the assessment period.
Asia Pacific is set to scale a comparatively higher CAGR through the review period. It is anticipated to benefit from the boom witnessed in the IT industry in the years to come. Furthermore, Latin America and the Middle East & Africa are also poised to scale decent growth rates over the assessment period.
The important players of the mobile security market profiled in this MRFR report are Symantec Corporation (US), Google Inc. (US), Microsoft Corporation (US), IBM Corporation (US), Intel security group (US), AVG Technologies (Netherlands), Kaspersky Lab (Russia), AT&T Inc. (US), Apple Inc. (US), and Verizon Communication Inc. (US)
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