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Mobile Security Market Key Drivers, Analysis, Trends, Overview And Forecast To 2033
"The Business Research Company recently released a comprehensive report on the Global Mobile Security Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, The mobile security market size has grown exponentially in recent years. It will grow from $6.68 billion in 2023 to $8.10 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to rise in mobile device usage, growing threat landscape, stringent regulations, increased it complexities, rise in tablets and other portable devices.
The mobile security market size is expected to see exponential growth in the next few years. It will grow to $17.48 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to increasing mobile usage, advancements in technology, driving demand for secure mobile payment solutions and technologies. Major trends in the forecast period include rise in mobile malware, expansion of mobile threat defense (MTD) solutions, focus on privacy and compliance.
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Market Drivers and Trends:
The increasing sophistication of cyber threats is expected to propel the growth of the mobile security market going forward. A cyber threat is a malicious act that seeks to damage data, steal data, or disrupt digital life in general, including a wide range of attacks such as data breaches, computer viruses, denial of service, and numerous other attack vectors. Mobile security solutions can detect and remove malware, including viruses, spyware, and ransomware, which can compromise sensitive data and disrupt device functionality. For instance, according to the 2022 Data Breach Report published by the Identity Theft Resource Center, a US-based non-profit organization, the number of data breach incidents reported increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the increasing sophistication of cyber threats is driving the growth of the mobile security market.
Major companies operating in the mobile security market are developing innovative technologies, such as mobile security platforms, to gain a competitive edge in the market. A mobile security platform is a comprehensive set of tools and services designed to protect mobile devices, such as smartphones, tablets, and laptops, from cyber threats. For instance, in April 2023, Zimperium Inc., a US-based mobile security company, launched the Mobile-First Security platform for threat detection visibility and response for endpoints and apps. It is a unified platform that combines capabilities across mobile threat defense (MTD) and mobile app security (MAPS), providing centralized management and access to device and app security through a single interface on any cloud and on-premises. The platform is designed to protect mobile devices and applications from evolving threats and risks, a critical aspect of mobile security. It includes advanced in-app protection to prevent reverse engineering, protect cryptographic keys, and create self-defending apps.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Apple Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, MobileIron Inc., Oracle Coorperation, VMware LLC, Gen Digital Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., BlackBerry Limited, Avast Software s.r.o, AirPatrol Corporation, Kaspersky Lab Inc., Sophos Ltd., Coro Cybersecurity, AVG Technologies, Better Mobile Security Inc., ESET s.r.o.
Mobile Security Market 2024 Key Insights:
• The Mobile Security Market is expected to grow to $17.48 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%.
• Increasing Sophistication Of Cyber Threats Driving Growth In The Mobile Security Market
• Leading Innovations In Mobile Security Introducing Zimperium's Mobile-First Security Platform
• North America was the largest region in the mobile security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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