Mobile Security Market Overview
The global mobile security market is projected to witness significant growth during the forecast period (2020–2030). Major factors contributing to the market growth include rising smartphone penetration, increasing number of mobile frauds, growing awareness related to data protection of mobile devices utilized at workplace, and surging usage of third-party applications. Moreover, numerous trends, such as high preference for bring your own device (BYOD) policies and large amount of data storage on cloud network, are likely to positively impact the market in coming years.
The mobile security market on the basis of offering is bifurcated into solution and service. Of these two, the solution category held the larger market share in 2019. This is due to availability of vast number of mobile security software for specific applications, such as data encryption, application management, authentication, and others, which offer complete safety of the device along with data, from malicious attacks.
The mobile security market in terms of deployment is classified into cloud and on-premises. The cloud category is expected to register faster growth during the forecast period, owing to the advantages offered by cloud-based mobile security solutions, such as reduced maintenance costs, flexibility of accessing data, and easy deployment for numerous applications.
Geographically, North America held the largest share in the mobile security market in 2019. This is attributed to the high number of data breaches in the U.S., growing adoption of advanced mobile security technologies, and increasing emphasis of government toward strict regulatory compliances pertaining to mobile data storage. Furthermore, during the forecast period, the market is expected to exhibit the fastest growth in the Asia-Pacific (APAC) region, attributable to high mobile internet penetration, rising awareness toward identification of mobile frauds, and increasing transfer of confidential data through smartphones.
Mobile Security Market Dynamics
Drivers
Surging smartphone penetration is one of the major drivers resulting in the growth of the mobile security market, globally. In emerging economies, such as India, Saudi Arabia, China, and Brazil, younger generation with higher education and income levels is focusing on digital connection for varied purposes, including online shopping online banking and chatting, which have resulted in increased ownership of smartphones, worldwide. According to the Mobile Economy 2020 report by GSM Association, global revenue contribution of the mobile industry stood at $4.1 trillion, which is 4.7% of worldwide gross domestic product (GDP), in 2019. In addition, smartphone penetration in 2019 stood at 65%, which is expected to reach 80% by the year 2025. Hence, with growing number of mobile subscribers, the demand for mobile security solutions is also expected to witness considerable growth in few years.
Mobile Security Market Competitive Landscape
The global mobile security market is fragmented in nature and is highly competitive. Market players are currently focusing on different growth strategies, including merger and acquisitions, product launches, partnerships, and client wins, in order to increase their presence and capture a larger customer base. For instance, in October 2019, U.S.-based cybersecurity software provider Fortinet Inc. announced the acquisition of U.S.-based endpoint security management company enSilo Inc., in order to strengthen its product offerings for varied enterprises. The integration of Fortinet and enSilo products offer advanced endpoint detection and response (EDR) capabilities, resulting in automated protection against cyber threats.
The major players operating in the mobile security market include International Business Machines (IBM) Corporation, Microsoft Corporation, Trend Micro Incorporated, McAfee LLC, Check Point Software Technologies Ltd., Sophos Group plc, Broadcom Inc., Fortinet Inc., Verizon Communications Inc., AO Kaspersky Lab, Quick Heal Technologies Ltd., NortonLifeLock Inc., VMware Inc., Google LLC, BlackBerry Limited, F-Secure Corporation, and Cisco Systems Inc.
The report covers country-wise mobile security market analysis. Major countries covered in the report are the U.S., Canada, France, Germany, the U.K., Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia, and the U.A.E.
Mobile Security Market Size Breakdown by Segment
The mobile security market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Offering
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Solution
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Authentication
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Application management
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Data protection
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Web protection
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Mobile device security
Based on Deployment
Based on Operating System
Based on End User
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Individual User
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Enterprise
Based on Vertical
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Banking, Financial Services, and Insurance (BFSI)
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Retail & E-Commerce
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Healthcare
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Information Technology (IT) and Telecom
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Manufacturing
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Government
Geographical Analysis
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North America
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Europe
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U.K.
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Germany
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France
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Italy
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Spain
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Asia-Pacific (APAC)
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China
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Japan
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India
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South Korea
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Australia
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Middle East & Africa (MEA)
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U.A.E.
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Saudi Arabia
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Turkey
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South Africa
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Latin America (LATAM)
