Market Overview:
Mobile devices have become the primary medium of exchanging data, both professional and personal. And as a result, the level of security required for these mobile devices is also rising. Most enterprises have data stored in their mobile systems, and apart from the encryption provided for the data, the device itself required secured methods of usage. Governments across the world have placed security standards that need to be followed by companies manufacturing these mobile devices. These security processes include both internal and external security. The external security measures include the likes of password protection, biometric scanners, etc. while the internal security measures include protection from viruses and other malicious objects.
The usage of mobile devices and internet go hand in hand. And as we all know the internet is a hub for malicious activities. Internet browsers and other applications that use the internet are in need of security services along with various encryption methods. Mobile devices can now integrate to online cloud systems and thus the process of data storage is added a layer of security to as well. Various enterprises are taking of the ‘bring your own device’ module of working and in such cases, they are required to provide their own set of security services.
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The global Mobile Security Market Size was analyzed by Market Research Future (MRFR) and it was projected that a massive CAGR of 29.55% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the automotive radar applications market was further stated to surpass its previous valuation of USD 10.50 billion in 2017 and reach a figure of USD 48.85 billion by 2023.
Market Segmentation:
The global Mobile Security Market has been segmented in terms of type, end-user, and components.
By solution, the market includes data encryption, mobile data protection, multi-factor authentication, mobile application management, and firewall.
By deployment, the market divides into on-premise and cloud deployment modes.
By operating systems, the market branches down into Android, Blackberry, iOS, Windows, and others.
By end-user, Mobile Security Market Size comprises retail, government, individual users, telecom and IT, education, financial institutions, manufacturing and automotive and others.
Regional Analysis:
The global Mobile Security Market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, Latin America, sand the Middle East & Africa.
North America is said to be leading the global Mobile Security Market Size with the highest share to its name. The regional market is expected to continue its lead over the forecast period due to the presence various leading contributing nations like the UK, France, the US, Germany and Canada and the region being initial adopters of various innovative technologies.
Asia Pacific is projected to be the fastest growing regional market in mobile security. This is due to the increasing adoption of mobile security software by a number of large enterprises and SMEs in this region.
Competitive Landscape:
The global Mobile Security Market Size comprises a host of key players. This includes names like Apple Inc. (US), Google Inc. (US), Symantec Corporation (US), AVG Technologies (Netherlands), Microsoft corporation (US), Kaspersky Lab (Russia), AT&T Inc. (US), IBM Corporation (US), Verizon Communication Inc. (US), Intel security group (US), and others.
The global Mobile Security Market Size is experiencing a trend of new product launches across different regions. A number of key players are reportedly seen adopting various advanced technologies and undergoing software upgrades as their growth strategy to garner significant share and positioning in the global market.
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