Mobile Security Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Operating System (iOS and MacOS, Android, Windows, and Others), By Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Education, Government, Others), and Regional Forecast, 2020-2027

The global mobile security market size was valued at USD 34.94 billion in 2019 and exhibiting a CAGR of 14.6% during the forecast period. The market is projected to reach USD 103.45 billion by 2027 and further expand to USD 178.43 billion by 2031. North America dominated the global market with a share of 29.71% in 2019.

Mobile technology has been favored by the world incredibly over the last decade. Almost two-thirds of the worldwide population is using mobile phones, especially smartphones. In 2017, according to the report published by Soti, Inc., nearly half of the global internet traffic was consumed by mobile devices. Furthermore, the report cited that, over 175 billion applications have been downloaded in 2017 by smartphone users globally. Moreover, the increasing consumption of the internet has attracted cybercriminals as well. Mobile safety solution helps to protect the portable and mobile devices from cyberattacks.

Implementation of Enterprise Mobility Management (EMM) solution, along with Mobile Threat Management (MTM) is gaining popularity. Most of the companies are inclining towards enterprise mobility, wherein employees can work using multiple devices and applications. Enterprise mobility offers employees to work from remote locations using portable or mobile devices such as laptops, smartphones, or tablets. Enterprise mobility is helping organizations to reduce cost, streamline operations as well as increase employee-customer satisfaction. Enterprise mobility has been supported by organizations during the COVID-19 pandemic. 

Global businesses have been ensured business continuity by adopting enterprise mobility during the pandemic. Mobile data protection solutions are  primarily adopted by companies to secure infrastructure for enterprise mobility. Thereby, an increase in the adoption of enterprise mobility, during the COVID-19 pandemic, is anticipated to upsurge the mobile security market growth. For instance, in April 2020, Hewlett Packard Enterprise (HPE) announced to support organizations for business continuity by offering enterprise mobility infrastructure, during the COVID-19 pandemic.

LATEST TRENDS

Growing Implementation of EMM and MTM in the Market for Enhanced Security

The mobile solution can be implemented in an operating system (OS) as well as on individual mobile devices. The security solution deployed over OS is considered under Enterprise Mobility Management (EMM), whereas those implemented on a mobile device is considered as Mobile Threat Management (MTM). Deployment of EMM, together with MTM, offers additional features like device configuration, device management, real-time device monitoring, and GPS tracking, among others. 

Therefore, the integration of EMM, along with MTM, is trending in the mobile security market for better safety features. For example, IDC conducted a survey on enterprise mobility decision-makers, in the year 2017, which states that almost half of the small and medium enterprises (SMEs) in the U.S. have deployed mobile device security solutions. The device security solutions such as mobile threat management, mobile scanning, or mobile antimalware, along with enterprise security solutions are mainly adopted by SMEs. Moreover, one-third of the businesses in the U.S. are using EMM and further planning to deploy MTM solution technology in the upcoming years.

DRIVING FACTORS

Increasing Demand for Bring Your Own Device (BYOD) Anticipated to Drive the Market

Enterprises are offering bring your own device (BYOD) service to support corporate mobility. BYOD is a facility for employees to bring their own mobile devices like laptops, smartphones, and tablets to their workstation for work. Additionally, BYOD offers connectivity for mobile devices with a secure network. Increasing productivity and employee satisfaction are the main driving factors for the adoption of BYOD. Conversely, unauthorized data access, data leakage/loss, and malware attacks, among others are major issues faced by organizations while adopting BYOD. 

Therefore, the growing demand for better and enhanced data privacy and security, along with network security, is expected to boost the adoption of mobile device security solutions. Moreover, companies are looking towards the privacy and security of mobile devices as well as network infrastructure, which will push mobile security market growth.

Internet of Things (IoT) and Enterprise Mobility Contributing to the Growth of the Security Solutions

With the evolution of technology, the adoption of portable devices has been augmented in the last decade. The adoption of laptops, tablets, and smartphones for work, education, and personal use are increasing at a substantial rate. Further, the popularity of IoT and enterprise mobility is encouraging people to adopt remote or mobile connectivity infrastructure. As per the report published by Soti, Inc., almost three fourth of the employees in the U.S. will be mobile workers in upcoming years. About 20% of companies that offer workplace mobility have experienced security issues and concerns. 

Mobile malware has enlarged steadily in the last few years with the improved vulnerability of mobile devices, which is further augmenting the demand for mobile security. The report published by Soti, Inc. in 2017 stated that the number of vulnerabilities in IoT is increasing by about 500% every year. The growing cyberattacks on IoT and mobile infrastructure are expected to upsurge the market growth, according to this mobile security market research.

RESTRAINING FACTORS

Lack of Awareness about Cyber Security and Vulnerability to Hinder Growth

The billions of smartphone consumers are using their smartphones or tablets for utilizing a variety of applications. Many of the users are unaware of the source from where they download the applications and further are unaware of their privacy policies. Many of the people are visiting untrusted websites via laptops or mobiles while downloading insecure applications, which make these devices more vulnerable to cyberattacks. Lack of awareness about mobile device threats and their security solutions are restraining the growth of the market.

SEGMENTATION

By Component Analysis

Network Security and Data Security is Expected to Drive the Market

By component, the market is segmented as a solution and services.

The solution segment is further sub-segmented into identity & access management, data security & encryption, cloud security, network security, endpoint security, web security, and application security.

The network security solution type is likely to dominate the market. Cybercriminals are majorly attacking wireless networks such as hot spots and Wi-Fi. Although, most of the in-secured smartphones when access the unauthorized free public Wi-Fi get confronted by security. According to the State of Enterprise Mobile Security report, published by Zimperium in 2019, a large number of network attacks were faced by the U.K., China, the U.S., Japan, and Republic of Korea. The rising number of such wireless network attacks are intending the companies to deploy the mobile network security solution. Considering the growing number of cyberattacks on mobile devices, governments across the world have strengthened their regulations. Government initiatives for regulating cybersecurity is expected to drive the mobile security market. Whereas, visiting untrusted websites and downloading untrusted applications might cause data theft. As a result, the demand for application security and web security is expected to grow in the future.

The dependency of mobile technology on the cloud-based data storage infrastructure has enabled the cloud service to be a hotspot for cybercriminals to launch attacks. The necessity to secure the cloud infrastructure drives the adoption of security solutions, as per the market analysis. To authenticate identity and access to corporate systems, employees are adopting the identity-as-a-service platform, which is boosting the growth of this market.

Most of the SMEs are preferring cloud-based deployment to adopt mobile safety solutions. The cloud architecture offers flexibility, cost-effectiveness, and scalability in the security model. Additionally, it ensures consistent and fast delivery of newer security technology updates. Therefore, Integrated Security-as-a-Service (ISaaS) is becoming popular day by day. The security as a service model covers identity & access authority, application & mobile security, cybersecurity, and compliance management. Instead of adopting a complete security suite, companies are preferring to deploy cloud-based, affordable, and flexible security service platform. The adoption of these security services is expected to dominate the market during the forecast period.

By Operating System Analysis

Increasing Number of Android Users Expected to Augur Market Growth

The market by operating system is categorized into iOS and macOS, Android, Windows, and others.

iOS and macOS security is witnessed to be always leading while comparing to other operating systems (OS). However, the high cost and limited platform usability restrain the adoption of the iOS operating system. On the other hand, Android and Windows operating systems are available with optimized cost and moderate security. The easy availability and affordable cost of the Android and Windows OS render them favorable in the industries. Furthermore, Android and Windows OS offer some in-build security features, along with license-based security deployment. The affordable and easily availability of Android-based security solution is expected to propel the mobile security market growth. 

By Vertical Analysis

IT and Telecom Verticals are Expected to Dominate the Security Market

Based on industry verticals, the market is classified into BFSI, IT & telecom, healthcare, manufacturing, retail, government, education, and others.

Even though each sector is suffering from cyber-attacks, some of the targeted vendors face enormous network and web-related attacks. Increasing digital connectivity across industries has the risk of cyberattacks that will surge the demand for security solutions across industries. As the IT industry is the largest internet reliant sector, it witnesses several  frontage on cyber-attacks. Therefore, experiencing several cyberattacks such as web-attacks and network-attacks, is leading the IT industry to adopt a mobile solution authentication tools. Moreover, enterprise mobility in several public and private businesses is turning out to be favorable for the adoption of mobile device security. The telecom sector is targeted by cybercriminals for accessing infrastructure supported by datacenters and internet service providers (ISPs). To protect data over ISPs and datacenters, the telecom industries are deploying security solutions.

Besides in BFSI, internet banking and mobile banking are becoming targeting spots for hackers to access credit card data and other financial details. The attacks are leading the banking and finance sector to adopt data security and encryption solutions. Similarly, in healthcare, the adoption of technology such as electronic health record systems and  telemedicine system has directed the sector to adopt data security solutions. Healthcare sector is widely adopting a security solution to protect both sensitive private and financial information.

Manufacturing, education, and retail sectors are adopting the data security solutions to enable locating and exfiltration of proprietary information. For protecting legal and financial information from hackers, the government sector is  expected to substantially adopt security solutions in the coming years.

REGIONAL INSIGHTS

Geographically, the mobile security market is segmented across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries.

Growing malware and cyberattacks have led companies in the U.S. to adopt advanced security platforms. The U.S is expected to dominate this mobile security market share in North America by adopting enterprise mobility and mobile  security solutions. The growing attacks on the healthcare sector anticipated deployment of the security solutions across North America. Similarly, in Europe, financial sector has been heavily targeted by attackers in Europe which is expected to continue the adoption of mobile solutions across the region. Further, developed countries like the U.K., France, and Germany are showcasing the highest adoption of mobile solutions. Strengthened data security regulations by the European Union, is accelerating wireless security across Europe.

Asia Pacific (APAC) is expected to show a high CAGR in the upcoming years owing to the development of the IT sector. The explosion of attacks in the Chinese technological sector is estimated to escalate the demand for wireless security solutions across China. Moreover, stringent government regulations of data security in Asian countries such as Japan, Philippines, and China are anticipated to drive the market.

The Middle East and Africa region is expected to grow at  the highest CAGR in the upcoming years. Companies of the Middle East & Africa has been suffering from financial loss owing to cyber-attacks, specifically data theft. The growing cyberattacks are expected to encourage the adoption of mobile security across the region. Moreover, increasing network attacks and web attacks are motivating organizations across the globe to adopt web security solutions.

KEY INDUSTRY PLAYERS

Key Players Focusing on Enhancing Product Offerings

The key players in the market are focusing on extending their product portfolio by offering threat specific security solutions. In addition to this, service-based flexible infrastructure and free security subscriptions is strategically attracting customers to adopt security solutions. Industry-specific and customized security solutions are escalating the market position of key companies. Expanding partnerships offer an opportunity for the key players to sell their solutions and services across the globe. On-demand security access offered by the key players is favored by many new customers. Extending security solutions to secure IoT platforms is expected to strengthen the market positions of key players. 

For instance, in February 2019, Giesecke & Devrient GmBH based in Munich, Germany, collaborated with the U.K. based Arm Limited company. The collaboration provides an eSIM management solution for securing GSMA based IoT platform with mobile security. Furthermore, the collaboration offers secure provisioning, activation, deactivation, and management of eSIM profiles on mobile devices.

LIST OF KEY COMPANIES PROFILED: 

• Microsoft Corporation (New Mexico, United States)


• Google LLC (California, United States)


• IBM Corporation (New York, United States)


• Lookout, Inc. (California, United States)


• Apple, Inc. (California, United States)


• Kaspersky Lab (Moscow, Russia)


• Intel Corporation (California, United States)


• VMware, Inc. (California, United States)


• AVG Technologies (Prague, Czech Republic)


• Symantec Corporation (Arizona, United States)


• F – Secure Corporation (Helsinki, Finland)


• Oracle Corporation (California, United States)


• NortonLifeLock, Inc. (Arizona, United States)


• Zimperium (Texas, United States)


• Giesecke+Devrient GmbH (Munich, Germany)

KEY INDUSTRY DEVELOPMENTS:

• June 2023: Check Point® Software Technologies Ltd. unveiled a strategic partnership with Everphone to deliver extensive cybersecurity protection and enhance mobile security measures.


• May 2023: The International Business Machines Corporation (IBM) introduced IBM® MaaS360® Mobile Device Management (SaaS), offering enterprises a robust solution for safeguarding mobile endpoints and bolstering their security posture.

FUTURE OUTLOOK

Growing internet dependency and digitalization of industries expecting secure data storage and data sharing infrastructure. Although, the direction of many of the businesses towards the remote workforce, expected to drive the market in the future. Growing cloud-based data storage also anticipated enhancing the adoption of security solutions for mobiles. In addition, pricing competition and product offering with more features, vendors continue to expand their performance/price ratio and hence offer market-driven opportunities for the future.

REPORT COVERAGE

The mobile security market report offers qualitative and quantitative insights on the market and the detailed analysis of market size & growth rate for all possible segments in the market.  Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape.

Key insights provided in the report are the adoption trends of mobile security by individual segments, recent industry developments such as mergers & acquisitions, consolidated SWOT analysis of key players, partnerships, Porter’s five forces analysis, and business strategies of leading market players, key industry trends, macro, and micro-economic indicators.

Report Scope and Segmentation