Mobile devices such as smartphones, tablets, and laptops have become an integral part of consumers and organizations. Mobile security enables protection from virus threats, cyber-attacks, and vulnerabilities associated with wireless computing to these devices and network they are connected too. Securing mobile devices have become important owing to increasing operations and communication via these devices and for information security.
Major factor driving growth of the global mobile security market is surge in demand for smartphones, tablets and laptops. In addition, increasing penetration of high speed internet and Internet of Things (IoT) is further driving growth of the global mobile security market. Furthermore, increasing adoption of bring your own device (BYOD) policies in various organizations and enterprises and increasing internet connectivity of such devices for communication and data transfer purpose has made them prone to cyber-attacks and data thefts, hence need for information security is further boosting demand for mobile security globally.
Moreover, increasing mobile application in banking, financial services and insurance, healthcare, and telecommunication sector are further expected to drive growth of the global market. Increasing dependency of consumers on technology and adoption of various mobile-based applications by enterprises such as supply chain analytics, digital assets management etc. are demanding more security solutions for protection of personal and corporate data.
Primary factor hampering growth of the global mobile security market is high cost of mobile security solutions. Multi-factor authentication such as biometric verification and two step-verification for authentic payment transaction on mobile devices is current trend seen in the global mobile security market.
The global mobile security market is segmented on the basis of software, application, industry verticals, and region.
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North America dominates the global mobile security market and is expected to have highest share in terms of revenue contribution during the forecast period. Presence of large number of mobile security solution vendors and increasing adoption of technology are factors contributing to growth of the mobile security market in this region. Europe hold second position followed by Asia Pacific. Asia Pacific is expected to show significant growth and register a CAGR of XX% during the forecast period. This growth is attributed to increasing IT infrastructures, adoption of BYOD policies, and growing awareness among enterprises towards securing information data.
Key players in the global mobile security market are Kaspersky Lab, McAfee, Symantec Corporation, Microsoft Corporation, AVG Technologies, Avast, Bitdefender, Sophos Ltd., Trend Micro, and InnoPath Software.