Mobile Security Market Size USD 122.89 Billion by 2027 at CAGR 25.8%

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.

Major factors driving the growth of Mobile Security market size are an increase in online mobile payment, rise in security need arising from the adoption of BOYD, the surge in need to provide protection to video streaming content, growth in usage of machine learning, and artificial intelligence in mobile security.

The study provides an in-depth analysis of the global mobile security market forecast along with the current & future trends to elucidate the imminent investment pockets.

Covid-19 trends influencing the mobile security market size

The COVID - 19 outbreak has prompted companies to take a close look at business continuity plans and evaluate their remote work readiness. Enterprises of all sizes are leveraging their corporate strategies to allow their workers to work remotely. Working in remote areas provides a weak connection in the security ecosystem as workers choose to access the network through public Wi-Fi. This, in turn, is expected to drive the growth of the Mobile Security market size during the forecast period.

The Mobile Security Market size is expected to grow with the emerging mobile device landscape and secure mobile operating system (OS) patches. Currently, mobile OS is gradually embedding security fixes and tools to reduce downloads of insecure third-party applications.  In addition, an increase in third-party mobile malware attacks will drive the mobile security market size.

Increased use of mobile devices for banking and e-commerce also necessitated the implementation of security apps on mobile devices. Furthermore, the rise in the number of mobile-related cyberattacks is expected to further fuel the growth of the Mobile Security market size. Hackers and threat actors are targeting sophisticated malware smartphone users to skim confidential information from individuals.

Mobile security market share analysis

North America is expected to hold the largest Mobile Security market share during the forecast period. This dominance of North America is attributed to the rise in spending on information security solutions among enterprises. In North America, the U.S. accounted for the largest Mobile Security sales share in 2019 and is projected to retain its lead over the forecast period.

Asia-pacific region is expected to witness the highest growth during the forecast period. This is due to the Growing smartphone users, advancement in mobile device technologies, and advanced network connectivity in the region. In addition, government programs for digitization and booming digital transaction apps have resulted in malware and phishing attacks on mobile devices. As a result, individuals and companies are increasingly going forward in their attempts to implement security solutions for their mobile devices. In the Asia-Pacific region,  India is expected to experience substantial growth in the coming years due to the high penetration of smartphones and increased adoption of mobile security solutions by different companies to secure data from different viruses and cyber-attacks.

Source: Valuate media announcement