Global Mobile Security Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Mobile Security Market Overview:

Mobile Security Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

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Mobile devices such as smartphones, tablets, and laptops have become an integral part of consumers and organizations. Mobile security enables protection from virus threats, cyber-attacks, and vulnerabilities associated with wireless computing to these devices and networks they are connected to.

Securing mobile devices has become important owing to increasing operations and communication via these devices and for information security.

The major factor driving the growth of the global mobile security market is a surge in demand for smartphones, tablets, and laptops. In addition, the increasing penetration of high-speed internet and the Internet of Things (IoT) is further driving the growth of the global mobile security market.

Furthermore, increasing adoption of bring your device (BYOD) policies in various organizations and enterprises and increasing internet connectivity of such devices for communication and data transfer purposes have made them prone to cyber-attacks and data thefts; hence need for information security is further boosting demand for mobile security globally.

Moreover, increasing mobile applications in banking, financial services and insurance, healthcare, and telecommunication sectors are further expected to drive the growth of the global market.

The increasing dependency of consumers on technology and the adoption of various mobile-based applications by enterprises such as supply chain analytics, digital assets management, etc. are demanding more security solutions for the protection of personal and corporate data.

However, the primary factor hampering the growth of the global mobile security market is the high cost of mobile security solutions.

Multi-factor authentication such as biometric verification and two step-verification for authentic payment transactions on mobile devices is a current trend observed in the global mobile security market.

The North American market dominates the global mobile security market as it is expected to hold the highest share in terms of revenue contribution during the forecast period.

The presence of a large number of mobile security solution vendors, and the increasing adoption of technology are factors contributing to the growth of the global mobile security market in countries in this region.

The Europe market holds the second position followed by the Asia Pacific.

Asia Pacific is expected to show significant growth and register a CAGR of X.X% during the forecast period. This growth is attributed to increasing IT infrastructures, the adoption of BYOD policies, and growing awareness among enterprises towards securing information data.

Global Mobile Security Market segmentation:

Global mobile security market segmentation by application:

• e-mail spam blocking
• Anti-virus
• Malware removal

Global mobile security market segmentation by industry vertical:

• Banking, financial services, and insurance (BFSI)
• Healthcare
• Government
• IT and telecommunication
• Retail
• Energy and utilities
• Travel and hospitality
• Education
• Manufacturing
• Aerospace and defense

Global mobile security market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa