Global Mobile Security Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Operating System(iOS, macOS), By Vertical(BFSI, IT & Telecom) - Industry Forecast 2023-2030

Global Mobile Security Market size was valued at USD 6.16 billion in 2021 and is poised to grow from USD 14.4 billion in 2022 to USD 22.1 billion by 2030, growing at a CAGR of 21.1% in the forecast period (2023-2030).

The market's demand for mobile security is growing as smartphones are being adopted more widely around the world. Nearly 63% of people on the planet utilise the internet, according to SkyQuest data. Over the ensuing years, the pattern is probably going to persist, leading to an increase in data breaches and cyberattacks. To guard against cyberattacks on these devices' data, mobile security solutions are widely employed. End customers are consequently expanding the use of mobile security solutions and services globally. In addition, the use of mobile security solutions like mobile threat management, enterprise, data security and encryption, and others, is rapidly gaining ground. Due to this, end users including the BFSI industry, manufacturers, and IT behemoths are adopting mobile security solutions at a faster rate. Sales in the mobile security industry are consequently being driven by the emergence of e-commerce platforms and an increase in mobile online transactions. As the inclination for digital payments increased, the unprecedented COVID-19 epidemic further fueled demand for these solutions. As a result, more mobile security services and solutions are being used in order to safeguard data, enhance the effectiveness of these solutions, as well as mobile payment-based applications.

The acceptance was assisted by the growth of work from home and remote operations in the retail and other industries, and the trend is projected to persist over the coming ten years. Key players are working on delivering cutting-edge solutions compatible with both iOS and Android consumers in order to take advantage of this booming trend. For instance, Adaptive Mobile Security revealed its new trio of connected 5G security platforms in July 2021 to defend against attacks to the infrastructure's internal and external security. Numerous such advancements are anticipated to drive the mobile security market through 2022 and beyond.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mobile Security Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global Mobile security market is segmented based on component, operating system, industry vertical, and region. Based on component, the Mobile Security Market is further bifurcated into solutions and services. Based on the operating system, the Mobile Security Market is segmented into iOS and macOS, android, windows, and others. Based on verticals, the mobile security market is segmented into BFSI, IT & telecom, healthcare, manufacturing, retail, education, government, and others. Based on the region Mobile Security Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Bring your own device (BYOD) services are being made available by enterprises to promote workplace mobility. BYOD refers to the option for workers to use their own mobile devices, such as laptops, smartphones, and tablets, while at work. BYOD also offers mobile device communication over a secure network. Productivity gains and employee happiness are the main driving forces behind BYOD adoption. When deploying BYOD, organisations have serious worries about unauthorised data access, data leakage/loss, malware assaults, and other problems. As a result, it is anticipated that the adoption of mobile device security solutions would be sparked by the rising desire for better data privacy and security as well as network security. Additionally, businesses are worried about network infrastructure, mobile device security and privacy, and other related issues.

Restraint

Millions of people access a variety of applications on their smartphones and tablets. Many users are not aware of the source from which they download programmes or the privacy policies of those applications. On computers or mobile devices, many users access dubious websites while downloading unsafe software, increasing the risk of cyberattacks on these gadgets. Lack of knowledge about mobile device security dangers and solutions is impeding the market's expansion.

Market Trends

An increase in online mobile payments and a rise in security requirements as a result of the adoption of BOYD in workplaces are the main reasons fueling the market's growth. Additionally, the market for mobile security is expanding due to the rising demand for video streaming content protection. The complexity of building embedded security solutions and the high cost of mobile security solutions may have an impact on market growth. The rising usage of artificial intelligence and machine learning in mobile security apps is also anticipated to be advantageous for the industry.

Organisations have been forced by the COVID-19 epidemic to reassess their business continuity plans and determine how prepared they are for remote working. Employees who operate in remote locations frequently connect networks using free public Wi-Fi, which adds another weak spot to the security ecosystem. The Covid19 outbreak would also make people stay at home for an extended amount of time, forcing businesses to implement security solutions for mobile endpoints.