USD 6.16 billion
Report ID: SQMIG45E2065 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 96 | Figures: 76
Global Mobile Security Market size was valued at USD 6.16 billion in 2021 and is poised to grow from USD 14.4 billion in 2022 to USD 22.1 billion by 2030, growing at a CAGR of 21.1% in the forecast period (2023-2030).
The increasing adoption of smartphones across the globe is improving the demand for mobile security in the market. According to SkyQuest analysis, nearly 63% of the world’s population uses the internet. The trend is likely to continue over the coming years, resulting in a growing number of data breaches and cyberattacks. mobile security solutions are extensively used to protect the data in these devices through cyberattacks. Hence, end-users are increasing the adoption of mobile security solutions and services worldwide. Further, implementation of mobile security solutions such as mobile threat management, enterprise, data security and encryption, and others are gaining immense traction. On account of this, end-users such as the BFSI sector, manufacturing companies, and IT giants are increasing the adoption of mobile security solutions. Subsequently, the advent of e-commerce platforms and growing online mobile transactions are pushing sales in the mobile security market. The unprecedented outbreak of COVID-19 further pushed the demand for these solutions as the preference for digital payments surged. Hence, to protect the data and to improve the efficiency of these solutions as well as mobile payment-based applications, the adoption of these mobile security solutions and services increased.
The proliferation of work from home and remote operations in retail and other industries facilitated the adoption and the trend is likely to continue over the upcoming decade. To capitalize on this surging trend, key players are focusing on introducing advanced solutions compatible with android as well as iOS users. For instance, in July 2021, Adaptive Mobile Security, unveiled its new trio of interconnected 5G security platforms to protect against the external and internal security threats to the 5G infrastructure. A slew of such developments is expected to boost the Mobile Security Market through 2022 & beyond.
US Mobile Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.16 billion
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The Global Mobile security market is segmented based on component, operating system, industry vertical, and region. Based on component, the Mobile Security Market is further bifurcated into solutions and services. Based on the operating system, the Mobile Security Market is segmented into iOS and macOS, android, windows, and others. Based on verticals, the mobile security market is segmented into BFSI, IT & telecom, healthcare, manufacturing, retail, education, government, and others. Based on the region Mobile Security Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Mobile Security Market Analysis by Components
Based on components, the solution segment is expected to hold the largest Mobile Security Market share in the global mobile security market. With the increasing number of cyberattacks and data breaches, especially in IT & telecommunication and BFSI industries, end-users are adopting mobile security solutions such as network security solutions and others. Further, favorable government initiatives and regulations to reduce the cyberattacks on mobile devices are pushing the adoption of network security solutions and data security & encryption.
Mobile Security Market Analysis by Operating System
Based on Operating System, the iOS and macOS segments, collectively, are expected to dominate the mobile security market. However, the high cost associated with these operating systems might hamper the growth in the segment. As per the study, with an increasing number of android users, the demand for mobile security solutions is expected to surge for android operating systems. As Windows OS and Android operating systems are easily available and cost-effective, the android segment is projected to witness the fastest growth over the forecast year.
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According to the study, Asia Pacific is expected to emerge as the largest and fastest-growing region over the forecast period. Growth is primarily attributed to the expansion of manufacturing, healthcare, and IT & telecom sectors in India and China. As per the data of the India Brief Equity Foundation (IBEF), India is considered to have one of the largest manufacturing and IT telecom sectors across the globe. With ongoing developments in these sectors, the number of data breaches is surging. On account of this, the demand for mobile security is expected to increase in the Asia Pacific. Further, the study opines, that North America is projected to be the most remunerative mobile security market. The presence of leading companies and growing adoption of mobile security solutions in healthcare and IT & telecom sectors will boost the market. With an increasing number of data collected in these industries and the need for high-quality real-time data, the demand for mobile security solutions such as managed services, access management, and others will aid the growth in the market.
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Mobile Security Market Driver
Mobile Security Market Restraint
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Leading players operating in the global mobile security market are focusing on developing advanced and cost-effective solutions to capitalize on the growing opportunity in developing regions. Some of the players are collaborating with end-users to increase their revenue and gain a competitive edge. Meanwhile, some of the incumbents are adopting inorganic growth strategies such as partnerships and collaborations with regional players to expand their product portfolio and customer base.
Mobile Security Market Top Player's Company Profiles
Mobile Security Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
As per our analysis, the rising use of mobile devices such as cell phones, laptops, and portable Universal Serial Bus (USB) memory sticks is raising network security problems. This, together with the rising Bring Your Own Device (BYOD) trend and the growing popularity of the Internet of Things (IoT), is one of the primary causes driving up demand for mobile security solutions to restrict access to important corporate data.
|Market size value in 2021||USD 6.16 billion|
|Market size value in 2030||USD 14.4 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Mobile Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mobile Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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