Mobile Security Software Market to Touch $20.46 Billion at 10.20% CAGR by 2027
Market Analysis
The global mobile security software market is likely
to touch USD $20.46 Billion at a 10.20% CAGR in the forecast period 2020- 2027,
according to the latest Market Research Future (MRFR) analysis. Mobile security
software includes the protection of smart devices against accidental loss,
online identity theft, hacker attacks, spyware, viruses, unauthorized access,
data theft, and malware. The software also helps in blocking unwanted messages
and calls and detects and deletes malicious apps which may act as a threat to
user privacy.
Various factors are fuelling the global
phone security software market share. As per the recent MRFR market estimates,
such factors include the increasing sophistication of cyber-attacks in mobile
devices, growing trend of BYOD in different companies, rising adoption of
enterprise mobility solutions, rise in mobile phone subscriptions, rise in
online mobile payment, increase in the need to offer protection to video
streaming content, growth in the use of artificial intelligence and machine
learning in mobile security application, growing adoption of mobile banking and
m-commerce, growing instances of theft of confidential financial data, and
emergence of mobile security as a service.
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On the contrary, complexity in
designing embedded security solution and high cost of mobile security solution
may impede the global mobile security software market growth in the forecast
period.
COVID-19 Analysis
The pandemic has prompted organizations
in taking a closer look at business continuity plans and evaluating their
remote work readiness. Companies of every size are leveraging its corporate
strategies to enable workers in working remotely. Working in remote areas
offers a weak connection in the security ecosystems because workers choose in
accessing the network through public Wi-Fi. This is likely to add to the mobile
security software market growth.
Market Segmentation
The MRFR report throws light on an
inclusive segmental analysis of the global mobile security software market
based on type.
By type, the global mobile security
software market is segmented into mobile virtual private networks, email spam
blocking, mobile device security mobile security as a service, mobile identity
management, and mobile data security. Of these, the mobile device security
segment will lead the market over the forecast period. It is likely to grow at
a 10.2% CAGR by 2027. These security devices help in protecting every mobile
device including tablets, notebooks, and smartphones from cyberattacks. It
helps to block malware and other forms of advanced threats like unauthorized
network accessibility on different mobile devices. It is done through
cloud-based software which has the capability to effectively perform inspection
and malware analysis on such devices.
Regional Analysis
By region, the global mobile security
software market covers the recent trends and growth opportunity across Europe,
China, India, Japan, South America, North America, and the Middle East and
Africa (MEA). Of these, North America will command the market over the forecast
period. Increasing number of mobile employees, growing trend of BYOD in
businesses, and growing incidence of cyber-attacks are adding to the global
mobile security software market growth in the region.
In Europe, the global mobile security
software market is predicted to hold the second-largest share over the forecast
period. Proliferation of mobile workforce, workforce transformation in France,
the Netherlands, Germany, and Italy, and the adoption of flexible workplace
policy are adding to the global mobile security software market growth in the
region.
In India, the global mobile security
software market is predicted to grow at the highest CAGR over the forecast
period. Increasing adoption of mobile security applications, increasing mobile
workforce, growing dependence on personal devices for work, and adoption of
flexible workplace policy are adding to the global mobile security software
market growth in the region.
Key Players
The prominent players profiled in the
global mobile security software market report include Sophos Group PLC (UK),
AVG Technologies (Czech Republic), Citrix Systems, Inc. (US), F-Secure
Corporation (Finland), Microsoft Corporation (US), VMware, Inc. (US), Symantec
Corporation (US), Kaspersky Lab (Russia), Intel Security (US), and Apple
Inc. (US), among others.
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Industry Updates
March 2021- With an aim to protect
mobile devices against war fighters, the Defence Innovation Unit of Pentagon is
readying to ramp up mobile security. It is coming up with a mobile threat
application which will analyze for issues on Defense Department-issued devices
and shares findings in the cloud. DOD should safeguard mobile devices against
attacks like malicious risky apps, phishing, network attacks, and operating
system exploitation.
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