Press release
Mobile Security Market Set to Surpass $19.5 Billion by 2029: Exclusive Insights from Meticulous Research®
Market Dynamics Driving Growth
The exponential growth of the mobile security market can be attributed to the escalating frequency of mobile-related cyber attacks and the surging reliance on third-party applications. Furthermore, the soaring demand for cloud-based solutions is anticipated to unlock significant growth avenues for this market. However, the widespread adoption of open-source and free security solutions poses a challenge to market growth to some extent.
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Impact of COVID-19 on the Mobile Security Landscape
The COVID-19 pandemic prompted government bodies worldwide to implement remote working protocols, leading to a surge in virtual operations across industries. As a result, enterprise virtual private network (VPN) servers became indispensable, driving the demand for mobile security solutions. Despite initial disruptions to the supply chain and production due to lockdown measures, the heightened awareness of cybersecurity issues among organizations worldwide is expected to catalyze market recovery at an accelerated pace.
Market Segmentation and Growth Trends
The global mobile security market is segmented based on Component, Operating System, Deployment Mode, End User, and Geography. Key insights include:
Component: The solutions segment is poised to dominate the market in 2022, fueled by the escalating demand for mobile security solutions to bolster data privacy.
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Operating System: Android is projected to lead the market in 2022, accounting for the largest share due to its widespread adoption across mobile devices.
Deployment Mode: Cloud-based deployment is expected to witness substantial growth, driven by the rising demand for BYOD services in enterprises.
End User: Enterprises are anticipated to hold the largest market share in 2022, with BFSI, telecom, and retail sectors leading the adoption of mobile security solutions.
Geography: Asia-Pacific is forecasted to command the largest market share in 2022, propelled by the increasing adoption of mobile security software by SMEs and enterprises in the region.
Key Players Shaping the Market Landscape
Leading players in the global mobile security market include Trend Micro Incorporated, Armis, Inc., AT&T, Inc., Check Point Software Technologies Ltd., IBM Corporation, and Nokia Corporation, among others.
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Scope of the Report:
The report covers a detailed analysis of the following segments:
Market by Component: Solutions (Mobile Application Security, Mobile Data Security, Mobile Device Security, Others) and Services.
Market by Operating System: Android, iOS, and Other Operating Systems.
Market by Deployment Mode: On-premise and Cloud-based.
Market by End User: Enterprises (BFSI, Telecom, Retail, Healthcare, Manufacturing, Other End Users) and Individuals.
Market by Geography: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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