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Mobile Security market Growth
The rise in online mobile payments and growing security demands from BYOD adoption have driven the growth of the global mobile security market.
WILMINGTON, DE, UNITED STATES, January 9, 2025 /EINPresswire / -- Growing adoption of smartphones, even in the most remote parts of the world has risen the threats of cyberattacks and mobile phone related crimes, which encourages consumers to purchase mobile security. Thus, with consumers getting aware of mobile threats, the demand for mobile security is growing rapidly.
As per the report, the global mobile security market accounted for $3.3 billion in 2020, and is expected to reach $22.1 billion by 2030, growing at a CAGR of 21.1% from 2021 to 2030.
Mobile security plays a vital role in safeguarding mobile devices by enhancing the security features of smartphones, laptops, and tablets. Moreover, the rising use of mobile devices for handling sensitive information, including critical banking details, credit card numbers, and social security numbers, is driving the market's growth.
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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 mobile devices. In addition, numerous benefits provided by mobile security applications, such as protecting data against malware and cyber-attacks and providing access to data from remote locations 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 protect video streaming content fuels the growth of the mobile security market. Furthermore, high cost of mobile security solutions and the complexity in designing embedded security solutions hamper the growth of the market. Furthermore, growth in usage of machine learning and artificial intelligence in mobile security applications is expected to provide lucrative opportunity for the mobile security market size.
Region-wise, the mobile security market was dominated by North America in 2020, and is expected to retain its position during the forecast period, as mobile security threats are on the rise and the trend is bound to grow with the increase in number of people buying mobile devices. Nearly 81% of the North American population are internet savvy and this number increases on a yearly basis. However, Asia-Pacific is expected to witness significant growth during the forecast period, as it utilizes mobility solutions depending upon the need of the consumer. Increase in usage and reliance on mobile devices dramatically impacts the end user access to enterprise applications and data.
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By end user, the individuals segment is projected to manifest the highest CAGR of 23.7% from 2021 to 2030, as the security solutions provided for individual use allow to restore data to any subsequent device, regardless of operating system. However, the enterprises segment held the largest share in 2020, accounting for more than four-fifths of the global mobile security market, as enterprise users demand security solutions that ensure the security of each document and data file whilst allowing users to remain productive and collaborative in much-secured way.
Depending on operating system, the android segment holds the largest market share mobile security market analysis, owing to the open nature of android platform and distribution through phone security applications dominate the android market. However, the others segment is expected to grow at the highest rate during the forecast period, since the operating system of blackberry and windows provides secured multitasking and supports specialized input devices that have been adopted for use in BlackBerry handhelds, particularly trackpad, trackball, track wheel, and recently the touchscreen.
Key Industry Developments:
1. April 2024: McAfee introduced a new AI-powered mobile security platform designed to enhance threat detection and protect against malware and phishing on mobile devices across North America. The solution caters to enterprise users, prioritizing data security in remote work settings.
2. December 2023: Kaspersky formed a partnership with Telefónica in Europe, integrating its mobile security technology into the telecom provider's services to strengthen customer protection against phishing attacks and data breaches.
3. October 2023: Zimperium, a leader in mobile security, expanded its presence in the Asia-Pacific region, targeting enterprises in Japan and South Korea with mobile threat detection and response solutions. The expansion focuses on the financial services and healthcare industries, where mobile data security is paramount.
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The outbreak of COVID-19 is anticipated to have a positive impact on the mobile security market size. The cases of mobile phone related crimes, such as identity theft, cyberattack, data theft, and others grew during the pandemic, which resulted in consumers getting more aware about these threats. Therefore, consumer demand for mobile security increased during the pandemic. Moreover, with rise in usage of smartphones during the pandemic, the demand for mobile security applications increased simultaneously.
Key Findings of the Study:
1. By operating system, the android segment accounted for the largest mobile security market share in 2020.
2. Region-wise, North America generated the highest revenue in 2020.
2. By end user, the enterprises segment generated the highest revenue in 2020.
The key players that operate in the mobile security industry are Apple Inc., BlackBerry Limited, Broadcom Inc., Citrix Systems, Inc., Google LLC, International Business Machine Corporation, Mobileiron, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile security industry.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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