Mobile Security Market Size Worth $ 26.8 Billion by 2032 - Growing Demand for Improved Network Security to Explode Demand
Mobile security market size from USD 4.2 billion in 2022 to USD 26.8 billion in 10 years. The increasing cyberattacks drive the market's growth. The United States had the biggest revenue share in North America in 2022 and is predicted to continue leading the region for the duration of the prediction.
Newark, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.2 billion mobile security market will reach USD 26.8 billion by 2032. One of the main factors propelling the market growth is the rise in the usage of laptops, tablets, smartphones, and other portable devices for personal and business use. Moreover, the growing prevalence of the bring your own device (BYOD) movement in businesses has raised security risks for the company and its workers. As a result, organisations are adopting more mobile unified endpoint security technologies, which include mobile device management solutions, firewall tools, antivirus and malware protection solutions, and organisation-size security solutions. The market as a whole is expanding in tandem with the surge of cyberattacks connected to mobile devices. With the development of technology and operational expertise, threat actors within the mobile ecosystem have become increasingly skilled. Hackers and other threat actors use sophisticated malware to target mobile users to steal personal data.
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North America will account for the largest market size during the forecast period.
The mobile security market in the region has been growing owing to several factors, including availability, pricing, societal trends, economics, and technology advancements, which are driving the use of mobile technologies in North American organisations. The United States held the biggest revenue share in North America and is predicted to continue leading the region for the duration of the prediction. Increasing industries, including government and defence, retail, and mobility device usage, drive the regional market.
The solutions segment dominated the market with the most significant revenue of USD 2.47 billion.
The solutions segment dominated the market with the most significant revenue of USD 2.47 billion. Because malware, trojans, and phishing attacks on mobile devices are becoming more common, the solutions segment is anticipated to expand over the course of the forecast period.
The enterprise segment dominated the market with the most significant revenue of USD 2.31 billion.
The enterprise segment dominated the market with the most significant revenue of USD 2.31 billion. Organisations have been forced to implement both cloud-based and conventional mobile security solutions due to the need to lessen IT administrators' workload in overseeing portable data storage and data exchange organisational frameworks.
The large enterprises segment dominated the market with the most significant revenue of USD 2.18 billion.
The large enterprises segment dominated the market with the most significant revenue of USD 2.18 billion. Large enterprises are investing in mobile security solutions to strengthen organisational defence against assaults or theft due to the growing dangers and phishing attempts on mobile devices.
The telecom & IT segment dominated the market with the most significant revenue of USD 0.88 billion.
The telecom & IT segment dominated the market with the most significant revenue of USD 0.88 billion. The telecom and IT industry organisations are more vulnerable to insider threats, unprotected network connectivity among enterprise portable endpoint devices, and Distributed Denial of Service (DDoS) assaults.
Report Attribute Details
Report Attribute | Details |
Revenue forecast in 2022 | USD 4.2 Billion |
Market size value in 2032 | USD 26.8 Billion |
Expected CAGR Growth | 20.4% |
Base Year | 2022 |
Forecast Year | 2023 - 2032 |
Top Market Players | MobileIron, Inc., Broadcom Inc., Samsung Electronics Co. Ltd, Apple Inc., BlackBerry Limited, IBM Corporation, Citrix Systems, Inc., Google LLC, Microsoft Corporation, VMware, Inc. |
Segments Covered | Offerings, End-User, Organization, Industry Vertical |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Market Dynamics:
Drivers: Growing security requirements as a result of BYOD adoption in offices
Organisations are embracing the BYOD movement, which makes the workplace far more productive for workers. In addition to using the network during business hours, employees utilise it when not on corporate property. As a result, there is a greater requirement to guarantee the confidentiality and safety of corporate and financial data at remote locations. Businesses should distinguish between employee personal data and company data in their security solutions. When hackers target users' audio, video, and financial information, individuals also risk data loss. Mobile security solutions are becoming increasingly essential for all mobile users to safeguard their data.
Restraint: High cost
The development of the market needs to be improved by the high price of mobile security solutions and the complexity of creating embedded security solutions.
Opportunity: Increased use of artificial intelligence and machine learning
A key component of the development of many smartphones is artificial intelligence. Manufacturers of smartphones, like Samsung, Huawei, Apple, and others, use artificial intelligence and machine learning to create their models, which opens up profitable prospects for the market's expansion. Furthermore, a study projects that 200 mobile security application businesses will integrate machine learning and artificial intelligence (AI) into smartphones to enhance a range of functionalities, including the camera and security apps. Additionally, businesses are integrating artificial intelligence into tablets and smartphones to enhance mobile applications and boost the efficiency of different mobile devices.
Challenges: Lack of awareness
Numerous apps are accessible through smartphones and tablets for the billions of consumers who own them. Many consumers need to learn about the privacy policies of the apps they download or where they got them. On laptops or mobile devices, many individuals download unsecure programs and browse unreliable websites, leaving these devices more susceptible to cyberattacks. Knowledge regarding mobile device dangers and security solutions is necessary for the market's growth.
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Some of the major players operating in the mobile security market are:
● MobileIron, Inc.
● Broadcom Inc.
● Samsung Electronics Co. Ltd
● Apple Inc.
● BlackBerry Limited
● IBM Corporation
● Citrix Systems, Inc.
● Google LLC
● Microsoft Corporation
● VMware, Inc.
Key Segments cover in the market:
By Offerings:
● Services
● Solutions
By End-User:
● Individuals
● Enterprises
By Organization:
● Large Enterprises
● SMEs
By Industry Vertical:
● Telecom & IT
● Healthcare
● Manufacturing
● BFSI
● Retail
● Government & Defense
● Others
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About the report:
The global mobile security market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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