Mobile Security Market to Grow at 21.1% CAGR, Reaching USD 22.1 Billion By 2030

According to a new report published by Allied Market Research, titled, "Mobile Security Market, by Operating System (Android, iOS, Others), by End User (Enterprises, Individuals): Global Opportunity Analysis and Industry Forecast, 2020-2030"

The mobile security market was valued at $3.3 billion in 2020, and is estimated to reach $22.1 billion by 2030, growing at a CAGR of 21.1% from 2021 to 2030.

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The main purpose of mobile security is to protect the confidentiality of the data stored in mobile phones and to enhance the integrity of the mobile devices. In addition, numerous benefits provided by mobile security application, such as protecting data against malwares and cyber-attacks and providing access of data from remote location are the major factors for the mobile security market growth.
Furthermore, increase in online mobile payment and rise in security need due to rise in adoption of BYOD in workplaces are the major factors that drive the growth of the market. In addition, surge in need to provide protection to video streaming content fuels the growth of the mobile security market. Furthermore, high cost of mobile security solution and complexity in designing embedded security solution hamper the growth of the market. Furthermore, growth in usage of machine learning and artificial intelligence in mobile security application is expected to provide lucrative opportunity for the mobile security market size.

Growing adoption of smartphones, even in the most remote parts of the world has risen the threats of cyberattacks and mobile phone related crimes, which encourages consumers to purchase mobile security. Thus, with consumers getting aware of mobile threats, the demand for mobile security is growing rapidly.

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Competitive Analysis:
The competitive environment of Mobile Security Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Mobile Security Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Apple Inc.
BlackBerry Limited
Broadcom Inc.
Citrix Systems, Inc.
Google LLC
International Business Machine Corporation
Mobileiron, Inc.
Microsoft Corporation
Samsung Electronics Co. Ltd.,
VMware, Inc and Many More

By Region-wise, the mobile security market was dominated by North America in 2020, and is expected to retain its position during the forecast period, as mobile security threats are on the rise and the trend is bound to grow with the increase in number of people buying mobile devices. Nearly 81% of the North American population are internet savvy and this number increases on a yearly basis. However, Asia-Pacific is expected to witness significant growth during the forecast period, as it utilizes mobility solutions depending upon the need of the consumer. Increase in usage and reliance on mobile devices dramatically impacts the end user access to enterprise applications and data.

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The adoption of mobile security has increased over time due to rise in adoption of smart phones and mobile devices in various different industries and growth in sales of smartphones. In addition, the ability of software to protect the confidentiality of digital data stored on mobile devices or transmitted over the internet increases its popularity among end users. Furthermore, technological advancements and increase in awareness amongst consumers can lead to a rapid growth during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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