Mobile Application Security Market Statistics, 2032
The global mobile application security market was valued at $3.7 billion in 2022, and is projected to reach $37.1 billion by 2032, growing at a CAGR of 26.3% from 2023 to 2032.
Increase in government initiatives for digitization and rise in penetration of digital transaction apps act as the key driving forces of the market. In addition, the volume of mobile transactions has increased significantly as governments are encouraging digital transactions through various initiatives. This growing reliance on mobile applications for financial transactions has increased demand for robust security solutions to protect sensitive financial data, prevent fraud, and ensure secure transactions. Furthermore, rise in demand for security solutions to offer protection against web-based malware and the adoption of bring-your-own-device (BYOD) policy are the major driving factors of the market.
However, the complexity of designing embedded security solutions is a major factor hampering the growth of the market. Embedded security solutions are complex to design and can be expensive to develop. Developing and integrating robust security measures into mobile applications requires expertise and resources. Hiring security experts, conducting security assessments, implementing cryptographic mechanisms, and ensuring standards compliance can be costly. These increased development costs may discourage some businesses, especially small- & medium-sized businesses on tight budgets, from investing in a comprehensive mobile application security solution.
Contrarily, increase in usage of machine learning and artificial intelligence in a mobile security apps presents a significant opportunity for the mobile application security market. Machine learning and artificial intelligence techniques enable advanced threat detection capabilities and improve mobile security. These technologies analyze massive volume of data to identify patterns and anomalies that can indicate potential security breaches or malicious activity.
Mobile application security refers to solutions designed and developed to protect applications from external threats such as malware and other digital fraud that compromise sensitive personal and financial information for hackers. A mobile security breach can give hackers real-time access to users' personal information, exposing a variety of data, including location, banking information, and personal information. Mobile application security solutions are designed for multiple platforms such as Android, iOS, and Windows and can run on mobile phones and tablets. Such solutions protect mobile applications from unauthorized access and block access to sensitive data.
The report focuses on growth prospects, restraints, and trends of the mobile application security market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the market.
Segment Review
The mobile application security market is segmented into component, operating system, enterprise size, industry vertical, and region. On the basis of component, the market is bifurcated into solution and service. By operating system, it is bifurcated into Android, iOS, and Windows. Depending on enterprise size, it is segregated into large enterprise segment and small and medium-size enterprise. By industry vertical, it is fragmented into BFSI, IT & telecom, retail, healthcare, government, education, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By component, the solution segment attained the highest growth in 2022 owing to the fact that high-profile security breaches and data breaches have raised awareness of the importance of secure coding practices. In addition, organizations invest in code analysis solutions to proactively identify vulnerabilities and improve mobile application security. Furthermore, the widespread use of mobile viruses puts consumers at serious risk. To efficiently identify and remediate mobile malware, antivirus solutions are developing to integrate cutting-edge malware detection methods such as machine learning, behavioral analysis, and cloud-based threat intelligence.
However, the service segment is considered to grow at the fastest rate during the forecast period due to the fact that service providers are offering specialized penetration testing and vulnerability assessment services tailored to mobile applications. These services identify potential vulnerabilities, assess the effectiveness of security controls, and provide recommendations for remediation, helping organizations proactively address security weaknesses.
Region wise, North America attained the highest growth in 2022. This was primarily because the adoption of mobile banking and FinTech solutions continues to increase in North America. This trend brings a heightened focus on mobile app security to safeguard financial transactions, protect user credentials, and prevent fraud. Mobile app security solutions that offer secure authentication mechanisms, encryption, and secure data storage are in demand in this sector. Furthermore, the COVID-19 pandemic has accelerated the shift toward remote work culture, leading to increased usage of mobile apps for business tasks.
However, Asia-Pacific is expected to exhibit fastest growth during the forecast period owing to the fact that the region is a hotspot for cyber threats and attacks targeting mobile applications. Cybercriminals exploit vulnerabilities in mobile apps to steal sensitive information, engage in fraudulent activities, and distribute malware. The rising threat landscape drives the need for robust mobile app security solutions, including threat detection, secure coding practices, and real-time monitoring to protect against evolving cyber threats.
The report analyzes the profiles of key players operating in the market such as GitLab B.V., Pradeo, IBM Corporation, Oracle, Cisco Systems, Inc., HCL Technologies Limited, Fortify (Open Text), Synopsys, Inc., VMware, Inc., and F5, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile application security market share.
Top Impacting Factors
Rise in Demand for Security Solutions to offer Protection Against Web-based Malware
Rise in demand for security solutions to offer protection against web-based malwares that run in Android and iOS-based mobile devices has driven the growth of the market. These solutions deliver threat protection and data protection for the mobile security applications. Mobile application security serves as an essential tool for almost all businesses for protecting their consumers, businesses, and IP data. Furthermore, malware attacks are constantly evolving in terms of their techniques and capabilities. Attackers leverage new attack vectors and exploit vulnerabilities in web browsers, plugins, and web technologies. This dynamic nature of web-based malware necessitates the use of advanced security solutions that can stay ahead of emerging threats and provide robust protection.
In addition, web-based malware attacks can lead to compromised user devices and stolen personal information, which increases trust issues among users pertaining to websites and online services. The loss of user trust can have a severe impact on businesses, resulting in customer attrition and reputational damage. By implementing robust security solutions against web-based malware, organizations can demonstrate their commitment to protect user data and maintain a strong reputation.
For instance, in June 2022, Akamai Technologies, Inc. unveiled Malware Protection, which shielded web applications and application programming interface (APIs) from malicious uploads. The solution extended Akamai's Web Application and API Protection (WAAP) to detect and block malware at the edge, preventing it from reaching potentially detonated target systems. Therefore, these trends are driving the mobile application security market growth.
The Adoption of Bring-your-own-device (BYOD) Policies
Enterprises are offering BYOD service to support corporate mobility. BYOD is a facility for employees to bring their own devices such as laptops, smartphones, and tablets to their workstation for work. In addition, BYOD offers connectivity for mobile devices with a secure network. Increase in productivity and employee satisfaction are the key factors driving the adoption of BYOD trend. However, unauthorized data access, data leakage/loss, and malware attacks are major issues faced by organizations while adopting BYOD. Therefore, surge in 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 focusing on privacy and security of mobile devices as well as network infrastructure, which is expected to propel the growth of the market.
Furthermore, mobile applications used in BYOD scenarios can be vulnerable to security risks due to insecure coding practices, third-party libraries, and integration with untrusted services. Thus, mobile application security solutions play a key role in identifying and remediating vulnerabilities, conducting secure code reviews, and implementing RASP (runtime application self-protection) mechanisms to guard against potential attacks. Therefore, all these factors collectively contribute toward the growth of the mobile application security market size.
Government Initiatives for Digitization and Increase in Penetration of Digital Transaction Apps
The volume of mobile transactions has increased significantly as governments are encouraging digital transactions through various initiatives. This growing reliance on mobile applications for financial transactions has increased the demand for robust security solutions to protect sensitive financial data, prevent fraud, and ensure secure transactions. Moreover, with increase in digital transactions, data security and privacy have become major concerns. Governments are placing increasing emphasis on protecting their citizens' privacy and protecting them from cyber threats. Mobile application security solutions address these concerns and ensure sensitive information is protected by providing features such as secure data storage, encryption, secure communication channels, and data loss prevention.
For instance, in July 2022, Zimperium, the only mobile security platform purpose-built for enterprise environments, announced a new partnership with Carahsoft Technology Corp., the trusted government IT solutions provider. Carahsoft served as Zimperium’s Master Government Aggregator, making the company’s FedRAMP authorized mobile threat defense solution available to the public sector through Carahsoft’s reseller partners. Thus, government initiatives for digitization and rise in penetration of digital transaction apps create a favorable environment for the growth of the mobile application security industry.
The Complexity of Designing Embedded Security Solutions
Embedded security solutions are complex to design and can be expensive to develop. Developing and integrating robust security measures into mobile applications requires expertise and resources. Hiring security experts, conducting security assessments, implementing cryptographic mechanisms, and ensuring standards compliance can be costly. These increased development costs may discourage some businesses, especially small- and medium-sized businesses on tight budgets, from investing in a comprehensive mobile application security solution. In addition, designing embedded security solutions is complex and requires specialized skills and expertise in areas such as secure coding, cryptographic algorithms, and system architecture.
However, lack of security professionals with expertise in these areas makes it difficult for companies to find and hire qualified employees. Limited security expertise available can slow the adoption of mobile application security solutions and hamper market growth. Furthermore, the complexity of security requirements can impact the user experience, resulting in additional authentication steps, slow performance due to encryption, and intrusive security prompts. If security measures have a significant impact on user experience, users may be deterred from using secure mobile applications, thus negatively impacting the market growth.
High Cost of Mobile Application Security Solutions
Organizations, especially small and medium enterprises (SMEs), often have limited budgets for security measures. High cost of mobile application security solutions make it difficult for these organizations to allocate sufficient resources to invest in comprehensive security measures. As a result, they may prioritize other business needs over mobile application security, which hinders the market growth. Moreover, mobile application security solutions not only require an upfront investment but also ongoing maintenance and updates. Companies have to consider the costs associated with implementing security controls, integrating with existing systems, training employees, and ensuring continuous monitoring and control of security controls. Cumulative deployment and maintenance costs can be enormous and difficult for organizations with limited financial resources.
Furthermore, businesses require a mobile application security solution customized to their specific needs and industry requirements. Customization and integration efforts can increase the overall cost of implementing security measures. The need to integrate security solutions into existing systems, applications, and workflows adds to the development and integration costs that can impact the overall cost of implementing a mobile application security solution, thus hampering the growth of the market.
Rise in Usage of Machine Learning and Artificial Intelligence in Mobile Security Application
Machine learning and artificial intelligence techniques enable advanced threat detection capabilities and improve mobile security. These technologies analyze massive volume of data to identify patterns and anomalies that can indicate potential security breaches or malicious activities. ML algorithms can learn from historical data to detect new and evolving threats and improve the accuracy and efficiency of real-time threat detection. Moreover, ML and AI techniques play an important role in fraud detection and prevention in mobile trading and financial applications. ML models can identify patterns that indicate fraud by analyzing transaction data, user behavior, and contextual information. These technologies further enable real-time risk assessments and anti-fraud measures, improving the security of mobile transactions.
In addition, ML and AI significantly improve mobile malware detection and mitigation. ML algorithms can analyze app behavior, code structure, and network communication to identify potential malware signatures and behavioral patterns. Mobile security apps can leverage ML and AI to proactively detect and mitigate malware-infected applications. Therefore, the growing career paths in ML and AI technology presents a significant opportunity for the expansion of the global mobile application security market during the forecast period.
Regional Market Insights
North America
North America is the largest market for Mobile Application Security, driven by the presence of major technology companies and the rapid adoption of mobile applications across various sectors. The U.S. is a significant contributor, with enterprises investing heavily in security solutions to protect their applications from cyber threats. The increasing prevalence of mobile banking, e-commerce, and remote work has amplified the need for robust security measures. Additionally, regulatory compliance requirements, such as the California Consumer Privacy Act (CCPA) and the Health Insurance Portability and Accountability Act (HIPAA), further compel organizations to prioritize mobile application security.
Europe
Europe is a key player in the market, with countries like the UK, Germany, and France leading the adoption of security solutions. The region's stringent data protection regulations, such as the General Data Protection Regulation (GDPR), are driving organizations to implement comprehensive security measures for their mobile applications. Industries such as finance, healthcare, and retail are particularly focused on safeguarding sensitive customer data, leading to increased investment in mobile security solutions. Additionally, the rise of mobile payments and e-commerce in Europe is further contributing to the demand for application security services.
Asia-Pacific
The Asia-Pacific region is anticipated to witness significant growth in the market, driven by the rapid increase in smartphone adoption and mobile application usage. Countries like China, India, and Japan are at the forefront of this trend. In China, the booming mobile economy and the rise of mobile payments are pushing businesses to enhance their application security to protect against fraud and data breaches. India’s growing tech ecosystem and increasing number of startups are also leading to a heightened focus on mobile application security. Japan’s advanced technology infrastructure further supports the adoption of security solutions to mitigate potential threats.
Latin America and Middle East & Africa
In Latin America, countries such as Brazil and Mexico are gradually increasing their investments in mobile application security, spurred by the growth of e-commerce and mobile banking. The increasing awareness of cyber threats and data privacy issues is prompting businesses to adopt security solutions for their mobile applications. In the Middle East & Africa, regions like the UAE and South Africa are seeing rising demand for mobile application security as businesses in sectors such as finance, healthcare, and retail recognize the need to protect sensitive data. The region’s push toward digital transformation is further amplifying the demand for robust security solutions.
Market Landscape and Trends
Increase in internet penetration, rise in adoption of smartphones, and initiatives taken by government bodies toward digitization, such as the “Digital India” program launched by the Indian Government to support and accelerate the digital journey in the country are factors driving the launch of modern applications across sectors such as e-commerce, healthcare, entertainment, and IT & telecom. This has led to a significant rise in digital payments, online buying and selling of goods, and sharing of critical data and information across these platforms. Moreover, the exponential increase in the adoption of artificial intelligence and machine learning has given crucial advantages such as the detection and remediation of malware, the feasibility to host security testing tools, and the detection of all possible security risks.
In addition, with the growing use of mobile devices for buying groceries, booking tickets, and gaming, mobile phones have become a center of customers’ lives, both personally and professionally. As the use of mobile devices is rising, its associated risks are elevating simultaneously. The use of unsecured applications, Wi-Fi, and networks is attracting phishing attacks, ransomware, and cybercriminals. Thus, there has been a constant growth in mobile security risks for individuals and organizations. Furthermore, mobile application security solutions are majorly applicable in government and defense sectors, as they deal with highly confidential and sensitive data, making them susceptible to cyberattack. Therefore, the mobile application security industry is constantly evolving, with new trends emerging as the technology advances.
Key Industry Developments
- January 2024 – Symantec (a division of Broadcom) launched a new mobile application security suite designed to provide comprehensive protection against advanced threats for enterprises in North America. This suite integrates threat intelligence and advanced analytics to enhance mobile application security.
- September 2023 – McAfee announced an expansion of its mobile security offerings in Europe, focusing on small and medium-sized enterprises (SMEs). This initiative aims to provide affordable and effective mobile application security solutions to help SMEs safeguard their applications against cyber threats.
- November 2023 – Check Point Software Technologies introduced a new mobile security platform in the Asia-Pacific region that leverages AI and machine learning to detect and respond to mobile threats in real time. This platform aims to enhance the security posture of enterprises deploying mobile applications in rapidly evolving markets.
- March 2024 – Fortinet expanded its mobile application security solutions in Latin America, targeting industries such as finance and retail. The new offerings include enhanced features for secure application development and continuous monitoring to protect against evolving threats.
- February 2024 – Trend Micro announced a strategic partnership with leading app developers in the Middle East to provide integrated mobile application security solutions. This partnership aims to enhance the security of mobile applications developed in the region, focusing on sectors such as healthcare and finance.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mobile application security market forecast from 2022 to 2032 to identify the prevailing market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities of market overview.
- The Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing mobile application security market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global mobile application security market trends, key players, market segments, application areas, and market growth strategies.
Mobile Application Security Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 37.1 billion |
 Growth Rate | CAGR of 26.3% |
 Forecast period | 2022 - 2032 |
 Report Pages | 260 |
 By Component |
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 By Operating System |
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 By Enterprise Size |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | F5, Inc., VMware, Inc., GitLab B.V., Oracle, HCL Technologies Limited, Cisco Systems, Inc., Synopsys, Inc., Fortify (Open Text), IBM Corporation, Pradeo |
Analyst Review
Mobile application security is gaining high tractions across finance, healthcare, e-commerce, and government sectors to ensure the confidentiality and integrity of the application and its associated data. In addition, the necessity to implement robust security measures and best practices to safeguard mobile apps against unauthorized access, data breaches, malware, network attacks, and other vulnerabilities has fostered the demand for mobile application security solutions. Thus, mobile application security involves a range of techniques and strategies, including secure coding practices, encryption, authentication mechanisms, secure network communication, input validation, app hardening, and regular security updates. These measures aim to mitigate risks and vulnerabilities within the application itself as well as during data transmission and storage.
The key market players are adopting strategies such as product launch for enhancing their services in the market and improving customer satisfaction. For instance, in September 2021, Guardsquare, the mobile application security platform, launched its mobile application security testing tool, AppSweep. The company’s new Android application security testing tool is built for mobile, designed for developers, and enables developers to quickly address risks in their source code and dependencies. AppSweep integrates seamlessly into a DevOps workflow and results in stronger security for released apps by helping developers find and fix security issues early in the software development life cycle. Therefore, such strategies are expected to boost the growth of the mobile application security market in the upcoming years.
Moreover, some of the key players profiled in the report are GitLab B.V., pradeo, IBM Corporation, Oracle, Cisco Systems, Inc., HCL Technologies Limited, Fortify (Open Text), Synopsys, Inc., VMware, Inc., and F5, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
The mobile application security market is estimated to grow at a CAGR of 26.3% from 2023 to 2032.
The mobile application security market is projected to reach $37.04 billion by 2032.
Rise in demand for security solutions to offer protection against web-based malware, the adoption of bring your own device (BYOD) policies and government initiatives for digitization and increase in penetration of digital transaction apps majorly contribute toward the growth of the market.
The key players profiled in the report include mobile application security market analysis includes top companies operating in the market such as GitLab B.V., Pradeo, IBM Corporation, Oracle, Cisco Systems, Inc., HCL Technologies Limited, Fortify (Open Text), Synopsys, Inc., VMware, Inc., and F5, Inc.
The key growth strategies of mobile application security players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
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