The mobile application security market was estimated to reach around USD 2.1 billion in 2020, and projected to grow at a CAGR of 23.6% over the forecast period. This market is dominated by mobile apps such as gaming, social media, and commerce. The increasing use of mobile devices among users has altered the sales, marketing, and branding processes for products. Companies are increasingly introducing mobile apps to their clients as a means of making purchases. The expanding number of downloads of these apps, as well as the increased use of mobile devices to access multiple company websites, has increased the risk of cyber-attacks and security policy violations. This has paved the way for security solutions for mobile apps. Major factors driving the growth of Mobile Security market size are an increase in online mobile payment, rise in security need arising from the adoption of BOYD, the surge in need to provide protection to video streaming content, growth in usage of machine learning, and artificial intelligence in mobile security.
The global mobile application security market size is predicted to reach over USD XX billion by 2028. This can be ascribed to the increasing malware threats and growing demand for end-to-end security suites. It offers new opportunities for key players operating in the global mobile application security market. Besides, the increasing dependency on the internet and strong need for protection against web-based malware is affecting the market in a positive manner.
However, high cost of mobile application security solutions and lack of acceptance in the enterprise segment are hampering the market growth. Furthermore, increasing demand for saas-based mobile application security solutions and strong need for protection against web-based malware is likely to provide lucrative development opportunities for the mobile application security market in the forthcoming years.
Mobile Application Security Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2.1 billion|
|Growth Rate||CAGR of 23.6% during 2021-2028|
|Segment Covered||Solution, Deployment Mode, End-Use, User Types, Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Avast Software, AVG Technology, AirPatrol Corporation, Kaspersky, Lookout, McAfee, MobileIron, Symantec, Trend Micro, VMware, Apple Inc., BlackBerry Limited, Broadcom Inc., Google LLC, and IBM Corporation.|
Key Segments of the Global Mobile Application Security Market
Solution Overview, 2021-2028 (USD Million)
- Web Security
- Data Back-up and Recovery
- IAM and Authentication
- Compliance Management
Deployment Mode Overview, 2021-2028 (USD Million)
- Public Cloud
- Private Cloud
User Types Overview, 2021-2028 (USD Million)
- Large Enterpirse
End Use Overview, 2021-2028 (USD Million)
- IT & Telecom
- Media and Entertainment
- Air Force and Defense
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global mobile application security market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global mobile application security market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the mobile application security market industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Solution, User TYpes, Deployment, and End User. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global mobile application security market. The report will benefit every stakeholder involved in the mobile application security market.
- Managers within the mobile application security market industry looking to publish recent and forecasted statistics about the global mobile application security market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global mobile application security market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Mobile devices such as smartphones and tablets are becoming more popular than laptops and desktops as they are easy to carry and perform nearly similar functions as desktops do. People conveniently use mobile devices to share messages, watch movies or videos, watch the news, check emails, play games, browse the internet, purchase items online, do bank transactions, and perform many other activities
The rising mobile users have increased significantly worldwide, and it has surged the demand for Mobile Application Security Market. Mobile applications are a significant channel for security threats, and the rising reportable cases of malware threats and attacks have boosted the market. Also, the increasing number of internet applications for performing various activities have made people dependent on the internet, and it has fuelled the demand for mobile application security solutions.
Mobile application security enhances operational efficiency, meets regulatory requirements, lowers risk, and builds confidence between a company and its customers. Breach of public security and compliance infractions severely degrade an organization's reputation and make potential customers apprehensive of using the company's services.
However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the solutions segment, the market is classified into anti-virus, anti-theft, web security, data backup and recovery, IAM and authentication, and compliance management. In 2020, the IAM and authentication segment is expected to grow significantly. The IAM and authentication solution is used for eliminating weak passwords, mitigating insider threats, advanced tracking of anomalies, and multi-factor security.
Based on the deployment model, the market is segmented into on premises, and cloud. As contrast to cloud-based security tools, on-premise security products provide a higher level of security and control. It gives businesses authority over the data controlled by their IT workers, improving security. Depending on the application area, these approaches are used in different ways.
User Type Segment
Based on the user types, the market is segmented into Large Enterprise, SMBs, and Individuals. SMEs are increasingly embracing Mobile Application Security solutions due to their ease of use and flexibility; demand is expected to rise during the forecast period. The benefits of Mobile Application Security solutions, such as seamless scalability, flexibility, lower operational costs, and customized offerings based on business goals, are pushing SMEs to use them.
End User Segment
Based on the Industry Verticals, the market is segmented into BFSI, Healthcare, Retail, Government. The BFSI segment is expected to grow significantly over the forecast period. The adoption of these services is expected to be highest in banking, financial, and insurance services. Banking transactions contain a great deal of sensitive information, such as client user ids, login credentials, and account numbers. This information is incredibly important, and it must be safeguarded with application security software.
North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the mobile application security market in this region is mostly ascribed to owing to increased spending on enterprise data protection solutions. However, the growth in Asia Pacific region is likely due to increase in adoption of mobile security applications, advancement in mobile device technologies, and advanced network connectivity in the region.
The major players of the global Mobile Application Security Market are Avast Software, AVG Technology, AirPatrol Corporation, Kaspersky, Lookout, McAfee, MobileIron, Symantec, Trend Micro, VMware, Apple Inc., BlackBerry Limited, Broadcom Inc., Google LLC, and IBM Corporation. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic solutions and to remain competitive in the global market.