Mobile Security Market Size, Share & Trends Analysis Report By Component, By Solutions, By Services, By Operating System, By Deployment, By Enterprise Size By End-use, By Region, And Segment Forecasts, 2024 - 2030

Mobile Security Market Size, Share & Trends Analysis Report By Component, By Solutions, By Services, By Operating System, By Deployment, By Enterprise Size By End-use, By Region, And Segment Forecasts, 2024 - 2030

Mobile Security Market Growth & Trends

The global mobile security market size is anticipated to reach USD 30.80 billion by 2030 and it is projected to grow at a CAGR of 20.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increase in the adoption of smartphones, tablets, laptops, and other portable devices both for personal and professional to use is a key factor driving the market. Further, the rise in the bring-your-own-device (BYOD) trend among enterprises has increased security challenges both for the organization and employees. As a result, the adoption of mobile unified endpoint security products that include firewall tools, antivirus & malware protection solutions, organization size security solutions, and mobile device management solutions increased among businesses.

The market continues to grow with the evolving mobile device landscape and secured mobile operating system (OS) patches. Currently, mobile OS are increasingly embedding security patches and tools to reduce the download of third-party vulnerable apps. Furthermore, the increase in mobile malware attacks from third-party ads is the other factor that is responsible for the mobile security market growth.

Increasing access to third-party mobile apps and websites expose security challenges to businesses. The rise in trend for bring-your-own-device (BYOD) practices in corporations and government organizations allow employees to use their mobile devices to download third-party apps to improve productivity. These third-party apps is more vulnerable and offer a weak link in an enterprise security ecosystem. Which, in turn, allows threat actors to break into the company network space easily and impacts business productivity. Furthermore, organizations often outsource their secondary activities such as mobile marketing and mobile transaction processing to third parties, which impose a high risk of data breaches. As a result, organizations adopt mobile security solutions to secure their development projects and third-party breaches. Thus, driving mobile security market growth.

Mobile Security Market Report Highlights

• Based on the component, the services segment is anticipated to register a fastest CAGR during the forecast period in smart infrastructure market. This mobile security service segment ensures the mobile security software functions properly throughout the entire process
• Based on the solution, the data security and encryption segment is expected to grow at a significant CAGR in the forecast period. The data and mobile device security is more crucial due to the rise in remote work. Therefore, it's critical to confirm the encryption status of the device and provide proof of compliance
• Based on the services, the managed services segment is anticipated to register a fastest CAGR from during the forecast period. The managed services for mobile devices provide users the flexibility they need to be more productive without compromising mobile security
• Based on the operating system, the iOS segment is anticipated to register a fastest CAGR during the forecast period. The iOS is in demand in developed countries and is starting to pick up steam in developing countries. Due to the high brand value of phones like iPhones, consumers in emerging markets are becoming more willing to spend more money on them due to better security features. Thus, driving the market growth of the segment
• Based on the deployment, the cloud segment is anticipated to register the fastest CAGR from during the forecast period. The cloud mobile security is a set of guidelines, protocols, and controls that helps businesses protect apps and data in shared cloud environments. Thus, cloud-based mobile security solutions are being used by modern businesses
• Based on the enterprise size, the small & medium enterprises segment is anticipated to register a fastest CAGR from over the forecast period. Cyberattacks in the small and medium-sized enterprises are becoming more frequent. As a result of the quick adoption of new technologies and the increase in hybrid work, end users in the small and medium-sized business sectors are observed to be investing in application security applications
• Based on the end-use, the BFSI segment is anticipated to register a fastest CAGR from over the forecast period. Mobile security solutions find security threats in applications to protect them from threats and vulnerabilities. Mobile security solutions adhere to laws like the Federal Information Security Management Act (FISMA), Sarbanes-Oxley (SOX), and PCI Security Standards Council (PCI SSC). Thus, driving the market growth of the segment
• The Asia Pacific region is expected to grow at a fastest CAGR in the forecast period. The market for mobile security is led by the Asia Pacific region because of the region's large smartphone user base and developing digital economy. The adoption of advanced security solutions is fueled by a strong demand for data protection and an increase in mobile malware incidents, which in turn is driving market growth in this region
• In August 2023, Protectt.ai, mobile security application provider, launched a new version of AppProtectt, a mobile app security platform (XDR). The new feature is anticipated to enable more comprehensive threat detection and response, potentially providing RunTime mobile app security. It is anticipated that the updated AppProtectt XDR Platform version will offer complete fraud control, regulatory compliance, mobile app security, and a live threat dashboard to safeguard users

Please note The report will be delivered in 4-6 business days upon order notification.