Market Overview

According to forecasts, the size of the global Mobile Security Market will increase from USD 7,767.3 million in 2021 to USD 20.46 billion by 2030, with a compound annual growth rate (CAGR) of 10.20%.

One of the key factors driving the global expansion of the mobile security market is the rising concern and knowledge about data protection on enterprise mobile devices. Not only that but the industry's global market share was also driven by the increasing use of two-factor authentication and the requirement to adhere to security requirements. The deployment of security software in mobile devices has become necessary due to the growing use of mobile devices for e-commerce and banking operations. Cloud-based technologies may also majorly affect the market's incredible growth.

 With the increase in cyberattacks using mobile devices, the market is expanding. With the development of technologies and operational expertise, threat actors in the mobile ecosystem have improved. Hackers and threat actors currently use sophisticated malware to target mobile users and steal personal information. For instance, many Magecart attacks—digital credit card skimmer incidents—were reported globally in 2019. To skim their money transactions, the Magecart assaults targeted mobile users of e-commerce platforms and websites for booking hotels. Magecart's growing vulnerabilities and public awareness prompted people and companies to adopt security-enhancing measures.

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Key Players

 Most market players rely heavily on mergers and acquisitions as primary tactics. For instance, in February 2019, BlackBerry Limited purchased the cybersecurity and AI business Cylance (California). This purchase is anticipated to assist BlackBerry in utilizing Cylance's technologies and offering security solutions to its clients. However, the following companies are marking their reliable significance in the mobile security market:

  • Symantec Corporation (U.S.)
  • Microsoft Corporation (U.S.)
  • Google Inc. (U.S.)
  • IBM Corporation (U.S.)
  • AVG Technology (Netherlands)
  • Intel security group (U.S.)
  • Kaspersky Lab (Russia)
  • Apple Inc. (U.S.)

Market Segmentation

The global mobile security market is segmented based on solution, deployment, operating system, end-user, and region. Multi-factor authentication, data encryption, mobile application management, mobile data protection, and a firewall are the solutions that make up the mobile security market. Based on deployment, the global mobile security market is divided into cloud-based and on-premises segments. Based on the operating system, the global mobile security market is divided into iOS, Blackberry, Android, Windows, and other segments. According to end-users, the market is segmented into a variety of groups, including consumers, employees of financial institutions, retailers, government agencies, telecom, IT users, students, manufacturers, and automakers.

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Regional Analysis

North America, which includes the U.S. and Canada, is anticipated to have the largest market share worldwide for mobile security. Because of its early adoption of cutting-edge technology in nations like France and Germany, Europe retains second place in the worldwide mobile security market. The Asia-Pacific area is likewise expanding quickly and consolidating its position in the world market. It results from more SMEs and other businesses increasing their adoption of mobile security software. Due to the region's significant concentration of consumer electronics producers and IT hubs, growth in this area is also possible.

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