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Mobile Application Security market Size
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 17, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Mobile Application Security Market ," The mobile application security market was valued at $3.7 billion in 2022, and is estimated to reach $37.1 billion by 2032, growing at a CAGR of 26.3% from 2023 to 2032.
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Mobile application security is a measure of protecting apps from external threats such as malware and other digital frauds that jeopardize hackers' critical personal and financial information. Mobile security breaches can not only allow hackers to access users' personal lives in real time but also leak data such as current location, banking information, and personal information. Furthermore, the exponential increase in the adoption of artificial intelligence and machine learning has given crucial advantages such as the detection and remediation of malware, the feasibility to host security testing tools, and the detection of all possible security risks. In addition, mobile security apps are majorly applicable in government and defense sectors, as they deal with highly confidential and sensitive data, making them susceptible to cyberattack.
Furthermore, major market players have undertaken various strategies to offer enhanced services to their customers. For instance, in June 2023, Appknox, a leading provider of cutting-edge mobile app security solutions, announced its partnership with Bitshield Data Defense Sdn., a renowned cybersecurity company based in Malaysia. This significant collaboration represented a significant milestone in advancing mobile application security, effectively addressing the growing demand for robust protection against emerging threats. This partnership combines Appknox's expertise in mobile application security with Bitshield's extensive reputation and reach in Malaysia for cybersecurity, creating a formidable alliance that aims to revolutionize the mobile app security landscape in Malaysia. Therefore, such strategies will promote the growth of the mobile application security market .
Leading Market Players:
GitLab B.V.
pradeo
IBM Corporation
Oracle
Cisco Systems, Inc.
HCL Technologies Limited
Fortify (Open Text)
Synopsys, Inc.
VMware, Inc.
F5, Inc.
The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for more than two-third of the global mobile application security market revenue, and is estimated to maintain its leadership status throughout the forecast period. Due to the enhanced anti-theft capabilities, solutions are incorporating stealth mode features that hide the presence of anti-theft software on the device. Furthermore, anti-tampering measures ensure that thieves cannot disable or uninstall the anti-theft application without proper authorization. However, the service segment is projected to manifest the highest CAGR of 28.4% from 2023 to 2032. With the increasing complexity of mobile threats and attacks, service providers are now providing mobile forensics services to investigate security issues, acquire digital evidence, and assist legal procedures due to the complexity of mobile threats and assaults.
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The android segment to maintain its lead position during the forecast period
Based on operating system, the android segment held the highest market share in 2022, accounting for more than three-fifths of the global mobile application security market revenue, and is expected to maintain its lead position during the forecast period. because android applications are incorporating advanced authentication methods such as biometrics, hardware-backed security features like trusted execution environment (TEE), and cryptographic operations into their code to increase security. However, the iOS segment is projected to manifest the highest CAGR of 29.2% from 2023 to 2032, as runtime application self-protection (RASP) solutions for iOS applications are becoming more important. These solutions integrate security controls directly into mobile applications at runtime to protect against threats in real time. RASP technology can monitor app behavior and enforce security policies to detect and respond to attacks, improving iOS application security.
The large enterprise segment to rule the roost by 2032
Based on enterprise size, the large enterprise segment held the highest market share in 2022, accounting for nearly two-thirds of the global mobile application security market revenue, and is projected to rule the roost by 2032. With the increasing adoption of mobile devices and the growing reliance on enterprise mobile applications, organizations are prioritizing the security of their mobile ecosystems, thus, this leads to numerous opportunities for the growth of the market. However, the small and medium-size enterprise segment is projected to manifest the highest CAGR of 28.6% from 2023 to 2032, this is because rise in popularity of bring-your-own-device (BYOD) policies in SMEs presents an opportunity for mobile application security vendors. As the employees use their personal devices for work-related tasks, the need to secure enterprise data on these devices becomes crucial.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global mobile application security market revenue , With the implementation of data privacy regulations such as the California Consumer Privacy Act (CCPA) and the New York SHIELD Act, organizations in North America are prioritizing mobile app security to ensure compliance and protect user data. On the other hand, the Asia-pacific region to maintain its dominance throughout the forecast period. The same region is expected to witness the fastest CAGR of 29.8% from 2023 to 2032. Because organizations in Asia-Pacific are recognizing the importance of thorough mobile app security testing, this includes static and dynamic analysis, penetration testing, and code review to identify vulnerabilities and weaknesses in mobile applications. Mobile app security testing is seen as a critical practice to ensure the integrity and security of mobile app data.
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David Correa
Allied Market Research
+1 800-792-5285
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