Mobile Security Market by Operating System (iOS, Android, and Others), End User (Individual User and Enterprise User), Enterprise Solution Type (Authentication, Mobile Application Security, Mobile Data Protection and Others), Industry Vertical (BFSI, IT & Telecom, Retail & E-Commerce, Healthcare, Government & Defense and Others), and Enterprise Size (Large Enterprises and Small & Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027

Mobile Security Market Size 

The global mobile security market size was valued at USD 19.83 Billion in 2019, and is projected to reach USD 122.89 Billion by 2027, growing at a CAGR of 25.8% from 2020 to 2027. Increase in online mobile payment and rise in security need arising from adoption of BOYD in workplaces are the major factors driving the growth of the market. 

What is Mobile Security ?

Mobile security is one of the key elements within mobile devices as it provides better security function to smart phones, laptop and tablets. In addition, increase in usage of mobile devices for tasks that involve sensitive data such as important banking information, credit card numbers and social security numbers boost the growth of the market.  

Mobile Security Market Trends

Surge in need to provide protection to video streaming content fuels the growth of the mobile security market. Furthermore, high cost of mobile security solution and complexity in designing embedded security solution hampers the growth of the market. Furthermore, growth in usage of machine learning and artificial intelligence in mobile security application is expected to provide lucrative opportunity for the market.

 

The authentication segment is expected to garner a significant share during the forecast period. Rising need for detection and remediation of threats during any mobile security breach or an attack drives the growth of the mobile security market in this segment. However, the mobile data protection segment is expected to grow at the highest rate during the forecast period, owing to rising need of mobile data protection among various enterprises to protect sensitive data from cyber-attacks.

 

Region wise, the mobile security market was dominated by North America in 2019 and is expected to retain its position during the forecast period. The major factors that drive the growth of the market in this region include rising government initiatives to improve and maintain cyber security across all federal departments and government agencies. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period due to increasing presence of mobile security vendors, and growing government support in the developing countries of Asia-Pacific.

 

The report focuses on the growth prospects, restraints, and trends of the mobile security market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the mobile security market.

Segment Review

The global mobile security market is segmented on the basis of operating system, end user, enterprise solution type, industry vertical and enterprise size. In terms of operating system, the market is divided into iOS, android and others. By end user, it is bifurcated into individual users and enterprises. In terms of enterprise solution type, it is segmented into authentication, mobile application security, mobile data protection, and others. Based on industry vertical, the market is bifurcated into BFSI, IT & telecom, retail & e-commerce, healthcare, government & defense and others. As per enterprise size the market is classified into large enterprises and SMEs. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the mobile security market analysis are Apple Inc., BlackBerry Limited, Broadcom Inc, Citrix Systems, Inc., Google LLC, IBM Corporation, Mobileiron, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd, and VMware, Inc.

Top Impacting Factors: Increase in Mobile Payments

The current payment systems do not contain specific recommendations about accepting payments through consumer mobile devices. The expansion and reach of mobile devices such as smart phones, tablets and laptops hold the potential to expand the payment ecosystem and bring mobile operators and device manufacturers to participate in the mix. Multiple payment approaches such as phone or cloud payment create new challenges for data security. Traditional card payment methods could be replaced by intermediaries such as Trusted Service Managers (TSMs) that provide over-the-air delivery capabilities to mobile devices. TSM acts as an intermediary between Mobile network operators (MNO) and a third party. Authentication is verified using a separate chip called secure element (SE), which asks for the fingerprint scanning of users for making the transaction more secure.

Rising Security Need Arising from Adoption of BOYD in Workplaces

Companies and enterprises are adopting the BYOD trend, which creates a much efficient workplace for the employees. The employees use the network of the company not only in work hours but also when the device is out of the company’s premises. Thereby, the need to ensure safety and security of financial and corporate data at remote locations increases. The security solution adopted by companies should differentiate between the personal data of employees and company’s data. Individual users also face data loss when hackers target the payment details, audio and video files of the users. The need for mobile security solutions is increasingly becoming a necessity for all the mobile users to protect their data.

Mobile Security Market Segmentation

By Operating System