Mobile Security Market 2020| Development Status, Size, Share, Covid-19 Impact and Trends by Forecast 2023

Market Synopsis

As per the analysis by Market Research Future Reports (MRFR), the global worldwide mobile security market is estimated to grow from USD 10.50 billion in 2017 to USD 48.85 billion by 2023 at a CAGR of 29.55% during the review period.

Forefront Players of Global Mobile Security Market are:

Honeywell International Inc. (U.S.), IBM Corporation (U.S.), ABB Ltd (Switzerland), Schneider Electric (France), Cisco Systems, Dell In, Rockwell Automation (U.S.), Bayshore Networks (U.S.), Symantec Corporation (U.S.), Kaspersky Labs (Russia), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google Inc. (U.S.), AVG Technologies (Netherlands), Kaspersky Lab (Russia), Intel security group (U.S.), Apple Inc. (U.S.), Verizon Communication Inc. (U.S.), AT&T Inc. (U.S.), and a few more.

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The essential factor booming the global mobile security market 2020 is the increasing concern of protecting data on enterprise mobile devices. The rise in the usage of mobile phones for banking and e-commerce has made it crucial for the deployment of security software in mobile devices. The need to adhere to security parameters and to increase the adoption of two-factor authentication are some other crucial factors bringing an impact on the growth of the market. The rising adoption of cloud-based technology is likely to propel the market during the review period. The increasing penetration of smartphones has motivated may regional, global, and local companies to develop mobile security software. The growing trend of Bring Your Own Device (BYOD) has propelled the market exponentially. However, increasing cyber-attacks is the biggest hurdle faced by the developers of security solutions. Moreover, pirated and free mobile security can be procured easily, which hampers the growth of the market.

Market Segmentation

The mobile security market is classified on the basis of end-user, operating system, solution, deployment, and region.

On the basis of end-user, the market is segregated into retail, individual users, and financial institutions.

On the operating system, the market is segregated into windows, iOS, android, blackberry, and others.

On the basis of the solution, the market is segregated into the firewall, multi-factor authentication, mobile data protection, data encryption, and mobile application management.

On the basis of deployment, the market is segregated into on-premises and cloud.

On the basis of region, the mobile security market is segregated into Europe, America, Asia-Pacific, and the Rest of the World (RoW).

Regional Analysis

The geographical analysis of Europe, America, Asia-Pacific, and the Rest of the World (ROW) has been performed. North America is reigning the global worldwide mobile security market. The North American market acquires the maximum market share. The second position is attained by Europe since the developed countries like Germany, U.S, France, UK, and Canada are the quick adopters of innovative technologies. Moreover, the European region consists of significant, established mobile security software vendors and service providers. The Asia Pacific region is anticipated to be the fastest expanding region due to the establishment of consumer electronics manufacturers and I.T. hubs. Moreover, the increasing adoption of mobile security software by SMEs and enterprises in the APAC region is an additional essential factor in expanding the market. The MEA and Latin American markets are anticipated to exhibit significant growth during the review period.

Industry News

Apple iPads and iPhones are vulnerable to hacking through the mail app because of a flaw in its email software. As per the study, two vulnerabilities were found in the mail app, which would have allowed the hackers to steal data for years. The issue came into notice while a cyber-attack was being investigated.

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