Increasing productivity of employees and enterprises through BYOD policy is a key factor driving mobile security market revenue growth
According to the most recent analysis by Emergen Research, the global market for mobile security had a value of USD 3.93 billion in 2021 and is anticipated to grow at a rate of 21.1% over the projected period. One of the essential components of mobile devices is mobile security, which gives smartphones, laptops, and tablets improved security features. Additionally, the industry is growing as more people use mobile devices for jobs involving sensitive data such key financial information, credit card numbers, and social security numbers.
The main drivers of the market’s growth are the rise in online mobile payments and the increased security requirements brought on by the adoption of BYOD (bring your own device) in the workplace. The market is expanding due to the spike in demand for phone security for video streaming content. The development of the market is further hampered by the high cost of mobile security solutions and the difficulty of building embedded security solutions.
Mobile device security and (BYOD) are used as examples of how enterprises can employ a standard-based approach and commercially available solutions to fulfil security and privacy demands while allowing privately-owned mobile devices to access company resources. BYOD is the term used to describe the practice of using personal devices for work-related duties. Employee access to corporate resources and operational independence can both grow when BYOD capabilities are implemented in a company.
Rise in Security Need due to Rise in Adoption of BYOD in Workplaces
Businesses are embracing the BYOD trend, which gives employees access to a more productive workplace. Employees utilise the company’s network not only during working hours but also while using a device outside of the company’s premises. As a result, there is a greater requirement to maintain the confidentiality and safety of corporate and financial data in remote places. Companies should use a security system that distinguishes between company data and employee personal information.
Growth in Usage of Machine Learning and Artificial Intelligence in Mobile Security Application
A key component in the evolution of many smart phones is artificial intelligence. Manufacturers of smartphones, including Apple, Samsung, Huawei, and others, use machine learning and artificial intelligence into the creation of their models, creating lucrative potential for the market’s expansion.
In addition, a survey found that 200 mobile security software developers plan to integrate AI (artificial intelligence) and machine learning into smartphones to enhance features like the camera and security apps. Additionally, businesses are integrating artificial intelligence into smartphones and tablets to strengthen mobile applications and improve the performance of various mobile devices.
Some Key Highlights From the Report:
- Due to an increase in malware, trojans, and phishing attacks on mobile devices, the solutions segment had the biggest market share, accounting for 59.0% of total sales. Additionally, a surge in demand for mobile device security and organisation size security is pushing people to use mobile security solutions in an effort to limit vulnerabilities from third-party apps and data breaches.
- Over the course of the projected period, the services segment is anticipated to grow the fastest. Small and medium-sized businesses (SMEs) and major corporations have chosen consultancy and maintenance services due to the need for an efficient remedy for data breaches, theft, and cyberattacks in personal mobility devices associated to organisational workplaces.
- Due to the increasing demand for threat detection and remediation during any mobile security breach or assault, the EDR segment is anticipated to grow more quickly than other segments in the mobile security market. The most recent known and undiscovered threats can be found and eliminated thanks to these cutting-edge technology solutions. It serves as an organization’s first line of defence in endpoint security.
- Cloud-based mobile security solutions are what the majority of providers in the mobile security market offer. Because of advantages including simple data upkeep, cost-effectiveness, scalability, and efficient management, cloud-based mobile security solutions are predicted to become more widely used. Web-based management and enterprise-level endpoint protection are available with the cloud deployment method. Endpoint protection can be deployed by users without the assistance of an IT team.
- While Asia Pacific (APAC) is anticipated to grow at the fastest CAGR during the forecast period, North America is anticipated to hold the largest share of the global market for mobile security. To combat data theft and mobile data breaches, APAC businesses must create a strong cyber-defense strategy. Due to the inconsistent and complex cyber landscape in the APAC region caused by the absence of a unified legal framework, businesses have been forced to adopt cutting-edge cybersecurity solutions. Governments in Asian nations like China, Singapore, and Japan are spending a sizable portion of their federal budgets to strengthen their countries’ cybersecurity.
Apple Inc., Broadcom, BlackBerry Limited, Citrix systems, Inc., Google, IBM, Microsoft, Ivanti, SAMSUNG, and VMware, Inc.
Emergen Research has segmented the global mobile security market based on operating system, enterprise solution, enterprise vertical, and region:
- Operating System Outlook (Revenue, USD Billion; 2019-2030)
- Enterprise Solution Outlook (Revenue, USD Billion; 2019-2030)
Mobile Application Security
Mobile Data Protection
Mobile Device Security
- Enterprise Vertical Outlook (Revenue, USD Billion; 2019-2030)
Telecommunication & IT
Retail & E-commerce
Healthcare & Life sciences
Government & Defense
Other Enterprise Vertical