Mobile Security Market
According to the report published by Allied Market Research, the global mobile security market was pegged at $19.83 billion in 2019, and is anticipated to reach $122.89 billion by 2027, registering a CAGR of 25.8% from 2020 to 2027.
Rise in the trend of mobile payments, increase in adoption of BOYD in workplaces, and surge in need to provide protection to video streaming content fuel the growth of the global mobile security market. On the other hand, high costs of mobile security solution and complexity in designing embedded security setup restrain the growth to some extent. Nevertheless, rapid usage of machine learning and artificial intelligence in mobile security applications are projected to create multiple opportunities in the industry.
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The main purpose of mobile security is to protect the confidentiality of the data stored in mobile phones and to enhance the integrity of the mobile devices. In addition, numerous benefits provided by mobile security application, such as protecting data against malwares and cyber-attacks and providing access of data from remote location are the major factors for the mobile security market growth.
Furthermore, increase in online mobile payment and rise in security need due to rise in adoption of BYOD in workplaces are the major factors that drive the growth of the market. In addition, surge in need to provide protection to video streaming content fuels the growth of the mobile security market. Furthermore, high cost of mobile security solution and complexity in designing embedded security solution hamper the growth of the market. Furthermore, growth in usage of machine learning and artificial intelligence in mobile security application is expected to provide lucrative opportunity for the mobile security market size.
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The outbreak of covid-19 led to rise in the trend of mobile payments, which in turn boosted the global mobile security market.
This trend is likely to continue post pandemic as well, since digital payment system caters to the social distancing norms mandated by different government bodies and has become a preferred choice among individuals.
The global mobile security market is analyzed across operating system, end user, enterprise solution type, industry vertical, enterprise size, and region. Based on operating system, the android segment contributed to more than half of the total market revenue in 2019, and is projected to lead the trail by 2027. At the same time, the iOS segment would manifest the fastest CAGR of 27.2% during the study period.
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By geography, North America held the highest share in 2019, garnering more than one-third of the global mobile security market. Simultaneously, the region across Asia-Pacific would exhibit the fastest CAGR of 26.9% from 2020 to 2027. The other two provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global mobile security market report include Apple Inc., BlackBerry Limited, Broadcom Inc, Citrix Systems, Inc., Google LLC, IBM Corporation, Mobileiron, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd, and VMware, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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