The Global Mobile Security Market Estimated to Progress at $8444.99 Million by 2028

The Global Mobile Security Market Estimated to Progress at $8444.99 Million by 2028

“Mobile security market”
As per Triton’s report, the global mobile security market acquired $3510.48 million in 2020, and is predicted to advance at a CAGR of 14.35% by 2028.

A recent study by Triton Market Research titled ‘Global Mobile Security Market’ includes the Global Analysis and Forecasts by Industrial Vertical (Government & Defense, Healthcare, IT & Telecom, BFSI, Retail & E-commerce, Others), Operating System (Android, iOS, Others), End-user (Enterprises, Individual), Enterprise Solution Type (Mobile Application Management, Authentication, Mobile Data Protection, Others), Organization Size (Large Enterprises, SMEs), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).   

Mobile security entails the protection of mobile devices from several risks, including unauthorized access, identity theft, and malware, among others. These solutions find applications in several industries, such as healthcare, BFSI, and e-commerce, to help delete apps that can harm users’ confidentiality.

 

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Triton’s research report denotes that the global mobile security market is anticipated to grow at a CAGR of 14.35% in revenue during the considered years 2021-2028. The market is estimated to garner revenue worth $8444.99 million by 2028.

The rising number of mobile payments, growing need for security due to the adoption of BYOD in workplaces, and surge in need to provide security to video streaming content, are significant elements driving the growth of the mobile security market. For instance, more companies are adopting the BYOD trend, creating an efficient workplace for employees. Here, the employees use the company network during work hours, but also outside the workplace. This further increases the need for ensuring the security of corporate data, influencing the deployment of efficient mobile security solutions. However, the elevated cost of mobile security solutions, complexity in designing embedded security solutions, and the dearth of awareness, are factors hampering the growth of the studied market.

The market for mobile security is broadly divided into industrial vertical, operating system, end-user, enterprise solution type, and organization size. Based on the industrial vertical, it is subdivided into government & defense, healthcare, IT & telecom, BFSI, retail & e-commerce, and others. Likewise, the operating system is trifurcated into android, iOS, and others. The end-user section is categorized into enterprises and individual. Further, the enterprise solution type is sub sectioned into mobile application management, authentication, mobile data protection, and others. Lastly, organization size is bifurcated into large enterprises and SMEs. 

Globally, North America is dominating the mobile security market. In the region, digital payment methods are gaining popularity, owing to the gradual shift from cash and credit card transactions. Mobile payment is among the most widely used alternatives to traditional payment models. In the United States, consumers are able to facilitate transactions through barcodes, applications, and even text messages. Moreover, mobile payment applications, such as PayPal, Venmo, and others, are gaining significant traction in the country. This growth in mobile payment applications increases the need for efficient mobile security solutions to secure the users’ data. Hence, this indicates the strong growth of the mobile security market in North America.

Apple Inc, BlackBerry Limited, Panda Security, International Business Machines Corporation, Citrix Systems Inc, Samsung Electronics Co Ltd, Kaspersky Lab, Trend Micro, McAfee, Google LLC, Quick Heal Technologies, MobileIron Inc, VMware Inc, Broadcom Inc, and Microsoft Corporation are key companies profiled in the mobile security market.

 

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Question & Answer: Mobile Security Market

Question 1: What are significant elements driving the growth of the mobile security market?

Answer: The rising number of mobile payments, growing need for security due to the adoption of BYOD in workplaces, and surge in need to provide security to video streaming content, are significant elements driving the growth of the mobile security market.

For instance, more companies are adopting the BYOD trend, creating an efficient workplace for employees. Here, the employees use the company network during work hours, but also outside the workplace. This further increases the need for ensuring the security of corporate data, influencing the deployment of efficient mobile security solutions.

Question 2: What factors are hampering the growth of the mobile security market?

Answer: The elevated cost of mobile security solutions, complexity in designing embedded security solutions, and the dearth of awareness, are factors hampering the growth of the studied market.

Question 3: Which region is dominating the mobile security market?

Answer:  Globally, North America is dominating the mobile security market. In the region, digital payment methods are gaining popularity, owing to the gradual shift from cash and credit card transactions. Mobile payment is among the most widely used alternatives to traditional payment models. In the United States, consumers are able to facilitate transactions through barcodes, applications, and even text messages. Moreover, mobile payment applications, such as PayPal, Venmo, and others, are gaining significant traction in the country. This growth in mobile payment applications increases the need for efficient mobile security solutions to secure the users’ data. Hence, this indicates the strong growth of the mobile security market in North America.

Question 4: Which are the key companies profiled in the mobile security market?

Answer: Apple Inc, BlackBerry Limited, Panda Security, International Business Machines Corporation, Citrix Systems Inc, Samsung Electronics Co Ltd, Kaspersky Lab, Trend Micro, McAfee, Google LLC, Quick Heal Technologies, MobileIron Inc, VMware Inc, Broadcom Inc, and Microsoft Corporation are key companies profiled in the mobile security market.

 

Related Report:

Global Cyber Security Market

The global cyber security market is expected to progress at a CAGR of 10.65% during the projected period of 2019-2028, while garnering $308.75 billion in revenue by 2028.

Cyber security solutions majorly help organizations identify, monitor, and report cyber threats to protect classified data. Moreover, these solutions help in protecting against phishing emails, malware, and other risks.

The rising virus threats among organizations, growing demand for cloud-based cyber security solutions, and the implementation of BYOD & IoT, are driving the growth of the studied market worldwide. Additionally, the surge in mobile device applications and platforms, along with upgrading traditional anti-virus software, are factors opening multiple opportunities for the cyber security market.

However, complex device security designs, coupled with a limited budget among SMEs, are restricting the progress of the mobile security market. Besides, the availability of pirated versions of software is another factor challenging the global cyber security market’s expansion.            

 

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