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Mobile Security Market To Gain Traction Due to Latest Market Driving Factors Says Fortune Business Insights™

The global mobile security market size is likely to gain momentum by exhibiting a promising 14.6% CAGR between 2020 and 2027. This is ascribable to factors such as increasing adoption of advanced mobility solutions and increasing cyberattack incidents across the globe. Mobile security majorly refers to the term that involves the safety of user data of a mobile device. Additionally, it involves authentication and protection of private data stored in connected devices such as smartphones, tablets, and personal mobile devices. Furthermore, it involves basic to advanced forms of security such as personal identification number (PIN), pattern locks, and fingerprint, and eye reader, among others. With the increasing adoption of smartphones across the globe, the need for efficient security solutions for mobile devices to prevent incidents of malware and cyber attacks is growing largely.

The global data visualization market size stood at USD 8.85 billion in 2019 and is projected to reach USD 19.20 billion by 2027, exhibiting a CAGR of 10.2% during the forecast period. Fortune Business Insights, publish this information in its latest report, titled “Mobile Security Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Operating System (iOS and MacOS, Android, Windows, and Others), By Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Education, Government, Others), and Regional Forecast, 2020-2027.”

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What does the Report Include?

The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.

List of the Companies Operating in the Market:

  • Microsoft Corporation (New Mexico, United States)
  • Google LLC (California, United States)
  • IBM Corporation (New York, United States)
  • Lookout, Inc. (California, United States)
  • Apple, Inc. (California, United States)
  • Kaspersky Lab (Moscow, Russia)
  • Intel Corporation (California, United States)
  • VMware, Inc. (California, United States)
  • AVG Technologies (Prague, Czech Republic)
  • Symantec Corporation (Arizona, United States)
  • F – Secure Corporation (Helsinki, Finland)
  • Oracle Corporation (California, United States)
  • NortonLifeLock, Inc. (Arizona, United States)
  • Zimperium (Texas, United States)
  • Giesecke+Devrient GmbH (Munich, Germany)

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Drivers and Restraints:

“Increasing Adoption of Enterprise Mobility Solutions to Promote Growth”

Enterprise mobility solutions ensure that organizations enable employees to adopt secure mobile devices. In addition to this, it involves securing corporate data present in the mobile devices of the employees to prevent data theft and economic loss. Furthermore, the emergence of technologies such as internet of things (IoT) and machine learning is enabling enterprises to promote enterprise mobility among its employees. According to a report by the Soti, Inc., about three fourth of the employees in the United States are expected to be introduced to the mobility working environment in the forthcoming years. Moreover, increasing the risk of cyberattacks and malware is expected to drive the demand for the global mobile security market during the projected horizon.

Regional Analysis:

“North America to Remain at the Forefront; Increasing Adoption of Mobile Security Solutions to Augur Growth”

Among the regions, the market in North America was worth USD 10.38 billion and is expected to gain major global mobile security market revenue during the forecast period. This is ascribable to factors such as the increasing adoption of advanced mobile security solutions owing to rise in cyber attack and malware incidents in the region. Asia-Pacific, on the other hand, is likely to witness significant growth during the forecast period. This is attributable to factors such as massive development in the IT industry. Furthermore, special impetus by the governments in countries such as India and China on fortifying cyber world by establishing stringent data security regulations will contribute to the market growth between 2020 and 2027.

Industry Development:

November 2019– Google LLC and Zimperium partnered for ensuring the safety of applications present on the google play store. Zimperium patented machine learning-based Z9 technology will be used to detect and stop harmful applications on google play store. The partnership is expected to protect google play store users from application malware attacks.

September 2019– F-Secure, a Finnish cybersecurity firm, announced its launch of consultancy services across 11 different locations spread across four continents of the world. According to the company, the primary aim of their consultancy services is to defend cyber-attacks for the organization by adopting emerging technologies.

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Competitive Landscape:

“V-Key Collaborating with TONIK Digital Bank to Aid Growth”

Fortune Business Insights with its quantitative and qualitative detailed analysis observes that the market comprises of several players trying to consolidate their position in the global mobile security market during the forecast period. Adoption of strategies such as collaboration, merger and acquisition, and product launches by the companies will bode well for the market growth. For instance, in May 2020, V-Key announced its collaboration with TONIK digital bank. As per the collaboration, V-key will provide security to the mobile banking platform of TONIK’s new customers based in the Philippines. Greg Krasnov, CEO of TONIK, said on the sidelines of the development, “We choose V-Key owing to its history with major banks across the region, wherein their security solutions have been tested and validated. Furthermore, their technology is protected by a global patent with a proven track record of delivering security and trust to the customers.”

Segmentation:

“Network Security and Data Security is Expected to Drive the Market”

The network security solution type is likely to dominate the market. Cybercriminals are majorly attacking wireless networks such as hot spots and Wi-Fi. Although, most of the in-secured smartphones when the access the unauthorized free public Wi-Fi get confronted by security. According to the State of Enterprise Mobile Security report, published by Zimperium in 2019, a large number of network attacks were faced by the U.K., China, the U.S., Japan, and the Republic of Korea. The rising number of such wireless network attacks are intending the companies to deploy the mobile network security solution.

The dependency of mobile technology on the cloud-based data storage infrastructure has enabled the cloud service to be a hotspot for cybercriminals to launch attacks. The necessity to secure the cloud infrastructure drives the adoption of security solutions, as per the market analysis. To authenticate identity and access to corporate systems, employees are adopting the identity-as-a-service platform, which is boosting the growth of this market.

View Press Release for additional information: https://www.marketwatch.com/press-release/mobile-security-market-future-prospects-growth-analysis-business-outlook-covid-19-impact-on-industry-2020-2027-2020-07-21

Market Segmentation Details:

By Component

  • Solutions
  1. Identity & Access Management
  2. Data Security & Encryption
  3. Cloud Security
  4. Network Security
  5. Endpoint Security
  6. Web Security
  7. Application Security
  • Services
  1. Professional Services
  2. Managed Services

By Operating System

  • iOS and MacOS
  • Android
  • Windows
  • Others (Linux, Blackberry, etc.)

By Vertical

  • BFSI
  • IT & telecom
  • Healthcare
  • Manufacturing
  • Retail
  • Education
  • Government
  • Others (Transport, Logistics, etc.)

By Region

  • North America (The U.S. and Canada)
  • Europe (The U.K., Germany, France, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, South Korea, Australia, Philippines, India and Rest of Asia Pacific)
  • The Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico and Rest of Latin America)

. . .

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