Mobile Application Security Market Size, Share, Growth Analysis, By Deployment(On-cloud and On-premises), By Service(Managed and Professional) - Industry Forecast 2024-2031

Global Mobile Application Security Market size was valued at USD 1.99 billion in 2022 and is poised to grow from USD 2.47 billion in 2023 to USD 13.99 billion by 2031, at a CAGR of 24.2% during the forecast period (2024-2031).

The popularity of mobile devices such as smartphones and tablets are on the rise, surpassing laptops and desktops due to their portability and similar functionality. These devices are used for a wide range of activities including messaging, media consumption, internet browsing, online shopping, banking, and more. The increasing global user base of mobile devices has led to a growing demand for mobile application security solutions. Mobile applications have become a significant target for security threats, with a rise in reported cases of malware attacks. The dependence on internet-based applications for various activities has further increased the demand for mobile application security solutions. However, the high cost and complexity of implementing embedded security solutions pose challenges to market growth. The adoption of Bring Your Own Device (BYOD) policies in organizations has increased the risk of security breaches as personal devices access sensitive organizational information. This has created a need for security solutions to minimize risks and protect mobile applications.

Additionally, the risk of data theft during email communication has led organizations and users to seek solutions that ensure secure data transmission. Government initiatives for digitization and the proliferation of digital transaction apps have resulted in an increase in malware and phishing attacks on mobile devices. As a result, individuals and businesses are increasingly adopting mobile security solutions. However, the usage of free mobile security solutions and interoperability challenges between mobile operating systems restrain market growth. Furthermore, lack of awareness about mobile security among customers also hinders market expansion. The integration of machine learning and artificial intelligence into mobile security applications presents significant opportunities for the global Mobile Application Security Market.

The adoption of artificial intelligence and machine learning enables enhanced threat recognition, vulnerability detection, and mitigation of cyber-attacks. These technologies offer advantages such as malware detection, security testing, and identification of potential risks. Government and defense sectors play a crucial role in driving the growth of the Mobile Application Security Market. These sectors prioritize securing confidential data from major breaches, contributing to market opportunities. Overall, the global Mobile Application Security Market is expected to witness lucrative growth in the coming years, driven by the increasing adoption of artificial intelligence, machine learning, and the need for enhanced security in various sectors.

US Mobile Application Security Market is poised to grow at a sustainable CAGR for the next forecast year.