Mobile Security Market Expected to Reach $22.1 Billion by 2030 Allied Market Research

According to a new report published by Allied Market Research, titled, “Mobile Security Market," The mobile security market was valued at $3.3 billion in 2020, and is estimated to reach $22.1 billion by 2030, growing at a CAGR of 21.1% from 2021 to 2030.

The main purpose of mobile security is to protect the confidentiality of the data stored in mobile phones and to enhance the integrity of the mobile devices. In addition, numerous benefits provided by mobile security application, such as protecting data against malwares and cyber-attacks and providing access of data from remote location are the major factors for the mobile security market growth.

Furthermore, increase in online mobile payment and rise in security need due to rise in adoption of BYOD in workplaces are the major factors that drive the growth of the market. In addition, surge in need to provide protection to video streaming content fuels the growth of the mobile security market. Furthermore, high cost of mobile security solution and complexity in designing embedded security solution hamper the growth of the market. Furthermore, growth in usage of machine learning and artificial intelligence in mobile security application is expected to provide lucrative opportunity for the mobile security market size.

Depending on operating system, the android segment holds the largest market share mobile security market analysis, owing to the open nature of android platform and distribution through phone security applications dominate the android market. However, the others segment is expected to grow at the highest rate during the forecast period, since the operating system of blackberry and windows provides secured multitasking and supports specialized input devices that have been adopted for use in BlackBerry handhelds, particularly trackpad, trackball, track wheel, and recently the touchscreen.

Region-wise, the mobile security market was dominated by North America in 2020, and is expected to retain its position during the forecast period, as mobile security threats are on the rise and the trend is bound to grow with the increase in number of people buying mobile devices. Nearly 81% of the North American population are internet savvy and this number increases on a yearly basis. However, Asia-Pacific is expected to witness significant growth during the forecast period, as it utilizes mobility solutions depending upon the need of the consumer. Increase in usage and reliance on mobile devices dramatically impacts the end user access to enterprise applications and data.

The outbreak of COVID-19 is anticipated to have a positive impact on the mobile security market size. The cases of mobile phone related crimes, such as identity theft, cyberattack, data theft, and others grew during the pandemic, which resulted in consumers getting more aware about these threats. Therefore, consumer demand for mobile security increased during the pandemic. Moreover, with rise in usage of smartphones during the pandemic, the demand for mobile security applications increased simultaneously.  

Key Findings of the Study

• By operating system, the android segment accounted for the largest mobile security market share in 2020.
• Region-wise, North America generated the highest revenue in 2020.
• By end user, the enterprises segment generated the highest revenue in 2020.

The key players that operate in the mobile security industry are Apple Inc., BlackBerry Limited, Broadcom Inc., Citrix Systems, Inc., Google LLC, International Business Machine Corporation, Mobileiron, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile security industry.