05-May-2022 | Zion Market Research
The Mobile Security Market was worth around USD 19, 284.1 million in 2021 and is estimated to grow to about USD 44,373.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 14.9 percent over the forecast period. The report analyzes the Mobile Security Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Mobile Security Market.
Mobile security protects mobile devices and the networks to which they are connected against virus threats, cyber-attacks, and vulnerabilities associated with wireless computing. Due to the increased use of mobile devices for operations and communication, as well as for information security, securing them has become a priority. The entire market is being driven by a surge in the usage of smartphones, tablets, laptops, and other portable devices for both personal and professional use. In addition, the emergence of the bring your device (BYOD) movement among businesses has created security risks for both the company and its employees. As a result, organizations are increasingly adopting mobile unified endpoint security products such as firewalls, antivirus and malware protection solutions, organization-size security solutions, and mobile device management solutions. The Covid19 pandemic has compelled businesses to review their business continuity plans and examine their readiness for remote working. With the growing trend of work-from-home policies, the industry is likely to grow even more. Employees that work in remote places tend to join their networks over public Wi-Fi, which creates an additional weak link in the security ecosystem. Furthermore, the Covid19 outbreak would drive people to stay at home for a longer period of time, forcing organisations to install mobile endpoint security solutions. With advancements in technology and operational expertise, threat actors in the mobile ecosystem have gotten more proficient. Hackers and threat actors are currently using complex malware to target mobile users in order to steal critical information. As a result, the whole industry is expanding as the number of mobile-related cyberattacks rises. To reduce the downloads of third-party risky programs, mobile OS are progressively incorporating security fixes and tools. Another element driving the market growth is an increase in mobile malware threats from third-party advertisements. With the changing mobile device landscape and secure mobile operating system (OS) patches, the industry continues to develop. Consumers seek to purchase solutions to secure their sensitive information in order to protect their mobile devices from trojans and malware. As a result, the total market has a possibility to expand.
The Mobile Security Market is segregated based on Offerings, End-Use, Organization, and Industry Vertical. Based on Offerings, the global market is distinguished into Solutions and Services. Based on End-Use, the global market is distinguished into Individuals and Enterprises. Based on Organization, the global market is distinguished into SMEs and Large Enterprises. Based on Industry Vertical, the global market is distinguished into BFSI, Telecom & IT, Retail, Healthcare, Government & Defense, Manufacturing, and Others.
North America dominated the mobile security market in the forecast period and is likely to continue to do so throughout the forecast period. Rising government measures to develop and maintain cyber security across all federal departments and government organizations are among the significant factors driving market expansion in this area. The mobile security business is undergoing substantial changes in the region. In the United States and Canada, this would spur the adoption of mobile security solutions. Due to an increase in the presence of mobile security providers and significant government backing in Asia-developing Pacific countries, Asia-Pacific is predicted to grow at the fastest rate over the projection period. To combat data theft and mobile data breaches, APAC businesses must create a strong cyber-defense strategy. Due to a lack of a uniform legal framework among APAC countries, the region's cyber landscape is inconsistent and complex, necessitating businesses to deploy advanced cybersecurity solutions.
Key players functioning in the Mobile Security Market include Microsoft; IBM; VMware, Inc.; BlackBerry Limited; Trend Micro; Check Point Software Technologies Ltd.; Lookout, Inc.; Mobileiron; CrowdStrike; McAfee, LLC; Sophos Ltd.; Quick Heal Technologies Limited.
Browse the full “Mobile Security Market By Offerings (Solutions and Services. By End-Use (Individuals and Enterprises). By Organization (SMEs and Large Enterprises). By Industry Vertical (BFSI, Telecom & IT, Retail, Healthcare, Government & Defense, Manufacturing, and Others).” Report at https://www.zionmarketresearch.com/report/mobile-security-market
Mobile Security Market is segmented as follows:
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