Overview and Scope
Mobile security refers to the measures designed to protect sensitive information stored on and transmitted by mobile devices such as smartphones, tablets, laptops, wearables, and other portable computing devices. Mobile security helps organizations protect against unauthorized access, data theft, and financial losses. It also ensures compliance with data protection regulations and helps businesses maintain a secure digital experience for their employees.
Sizing and Forecast
The mobile security market size has grown exponentially in recent years. It will grow from $6.68 billion in 2023 to $8.10 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to rise in mobile device usage, growing threat landscape, stringent regulations, increased it complexities, rise in tablets and other portable devices.
The mobile security market size is expected to see exponential growth in the next few years. It will grow to $17.48 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to increasing mobile usage, advancements in technology, driving demand for secure mobile payment solutions and technologies. Major trends in the forecast period include rise in mobile malware, expansion of mobile threat defense (MTD) solutions, focus on privacy and compliance.
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Segmentation & Regional Insights
The mobile security market covered in this report is segmented –
1) By Component: Identity And Access Management, Data Security And Encryption, Cloud Security, Network Security, Endpoint Security, Web Security, Application Security
2) By Service: Professional Services, Managed Services
3) By Operating System: iPhone Operating System (iOS) And Macintosh Operating System (MacOS), Android, Windows, Other Operating Systems
4) By End-Use: Banking, Financial Services and Insurance (BFSI), Retail, Information Technology (IT) And Telecommunication (Telecom), Healthcare, Manufacturing, Government And Defense, Other End-Uses
North America was the largest region in the mobile security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing sophistication of cyber threats is expected to propel the growth of the mobile security market going forward. A cyber threat is a malicious act that seeks to damage data, steal data, or disrupt digital life in general, including a wide range of attacks such as data breaches, computer viruses, denial of service, and numerous other attack vectors. Mobile security solutions can detect and remove malware, including viruses, spyware, and ransomware, which can compromise sensitive data and disrupt device functionality. For instance, according to the 2022 Data Breach Report published by the Identity Theft Resource Center, a US-based non-profit organization, the number of data breach incidents reported increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the increasing sophistication of cyber threats is driving the growth of the mobile security market.
Key Industry Players
Major companies operating in the mobile security market are Apple Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, MobileIron Inc., Oracle Coorperation, VMware LLC, Gen Digital Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., BlackBerry Limited, Avast Software s.r.o, AirPatrol Corporation, Kaspersky Lab Inc., Sophos Ltd., Coro Cybersecurity, AVG Technologies, Better Mobile Security Inc., ESET s.r.o.
The mobile security market report table of contents includes:
1. Executive Summary
2. Mobile Security Market Characteristics
3. Mobile Security Market Trends And Strategies
4. Mobile Security Market – Macro Economic Scenario
5. Global Mobile Security Market Size and Growth
…..
32. Global Mobile Security Market Competitive Benchmarking
33. Global Mobile Security Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mobile Security Market
35. Mobile Security Market Future Outlook and Potential Analysis
36. Appendix
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