Surge in online mobile payment and increase in security need from adoption of bring your own devices (BYOD) have boosted the growth of the global mobile security market.
PORTLAND, Ore., May 26, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Mobile Security Market by Opreating System (Android, iOS, Others), by End User (Enterprises, Individuals): Global Opportunity Analysis and Industry Forecast, 2020-2030” . As per the report, the global mobile security industry was accounted for $3.3 billion in 2020, and is expected to reach $22.1 billion by 2030, growing up to a CAGR of 21.1% from 2021 to 2030.
Major determinants of the market growth
Surge in online mobile payment and increase in security need from adoption of bring your own devices (BYOD) have boosted the growth of the global mobile security market. However, high cost of mobile security solution and complexity in designing embedded security solution hinder market growth. On the contrary, growth in use of machine learning and artificial intelligence in phone security applications would open new opportunities in the future.
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- The Covid-19 pandemic had a positive impact on the market due to an increase in the number of mobile hackings, data theft, and other mobile-related crimes
- Moreover, the number of smartphone users increased during the pandemic, which benefited the demand for mobile security in order to keep personal data and other details safe from hackers.
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The android segment dominated the market
By operating system, the android segment held the largest share in 2020, accounting for more than half of the global mobile security market, as android is the most adaptive operating system because of the efficient working and application appearance in the smartphone and tablets market. However, the other segments are estimated to register the highest CAGR of 24.2% during the forecast period, the operating system offers security multitasking and supports specialized input devices.
The individuals segment to portray the highest CAGR through 2031
By end user, the individual segments is projected to manifest the highest CAGR of 23.7% from 2021 to 2030, as the security solutions provided for individual use allow to restore data to any subsequent device, regardless of operating system. However, the segment held the largest share in 2020, accounting for more than four-fifths of the global mobile security market, as enterprise users demand security solutions that ensure the security of each document and data file whilst allowing users to remain productive and collaborative in much-secured way.
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North America held the lion’s share
By region, the global mobile security industry across North America dominated in 2020, accounting for more than one-third of the market, wing to adoption of mobile technologies and societal trends. However, the market across Asia-Pacific is expected to showcase the highest CAGR of 24.0% during the forecast period, owing to increase use and reliance on mobile devices and surge in BTOD trends.
Major market players
- Apple Inc.
- Broadcom Inc.
- BlackBerry Limited
- Google LLC
- Citrix Systems, Inc.
- Mobileiron, Inc.
- International Business Machine Corporation
- Samsung Electronics Co. Ltd.
- Microsoft Corporation
- VMware, Inc.
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