Growing adoption of third-party applications is driving the Mobile Security Market growth
The global mobile security market size is anticipated to reach over USD 30 billion by 2025. In addition, it is expected to exhibit a CAGR of over 28% during the forecast period 2020-2025. Mobile security is a Mobile Device Management (MDM) term that especially related to mobile devices protection. In addition, it comprises several authentication methods that comprise patterns/screen locks, fingerprint or iris recognition, PINs, passwords, and other types of security measures.
The existing and future mobile security market developments are defined to determine the attractiveness of the market. Key impacting factors highlight the mobile security market opportunities throughout the forecast period. Factors such as the growing adoption of third-party applications. Also, the increasing cases of data theft and breaches are driving the global mobile security market growth. However, the public availability of free security solutions is expected to hamper the market growth. Furthermore, the rising adoption BYOD trend across various enterprises is expected to provide lucrative growth opportunities for the market in forthcoming years.
The report also highlights numerous aspects of the global mobile security industry by evaluating the market through value chain analysis. Besides, the Mobile Security market report covers various qualitative aspects of the mobile security industry in market restraints, drivers, and crucial industry opportunities. Furthermore, the report offers a complete assessment of the market rivalry along with company profiling of local as well as global vendors.
The mobile security market has strong competition among the pre-established and new emerging players. Also, the mobile security industry players are aiming potential markets to seize a competitive advantage over the other industry players by forming mergers & acquisitions, acquiring new startups & other companies, agreements, forming collaboration and partnerships, and expanding their business presence.
Based on the authentication method, the market is bifurcated into single-factor authentication and multi-factor authentication. In 2019, the single-factor authentication segment dominated the global mobile security market and it is expected to maintain its position throughout the forecast period. However, the multi-factor authentication segment is anticipated to gather the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing need to add an extra layer of security to mobile devices on the grounds of increasing the level of sophisticated mobile threats.
The North America region is anticipated to gather the highest market share during the forecast period. The dominance of this region is mainly accredited to the increasing need to protect sensitive data and increasing government intervention. However, the Asia-Pacific region is expected to hold the highest growth rate throughout the forecast period 2020-2025. The growth of the mobile security market in this region mainly attributed to the upsurge in the adoption of smartphones in the past few years in this region.
The major players of the global mobile security market are Kaspersky, Check Point Software Technologies, IBM, McAfee, Microsoft, Quick Heal, Sophos, Symantec, Trend Micro, and VMware. Moreover, the other potential players in the mobile security market are CrowdStrike, Panda Security, Webroot, Citrix Systems, and Bitdefender. The recognized companies are coming up with innovative and new mobile security solutions. For instance, in January 2019, Coretta, a mobile devices internet security provider announced a partnership with IBM. With this partnership both the companies will provide Unified Endpoint Management (UEM), control, and security for enterprise mobile devices.
Segment Overview of Global Mobile Security market
Operating Systems Overview, 2018-2025 (USD Billion)
Solutions Overview, 2018-2025 (USD Billion)
- Data Protection
- Application Security
- Device Security
- Web Protection
Authentication Method Overview, 2018-2025 (USD Billion)
- Single-Factor Authentication
- Multi-Factor Authentication
End Users Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America