Mobile Security Market Analysis

Mobile Security Market Overview

The Mobile Security Market is projected to grow from USD 10.32 billion in 2024 to USD 20.37 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.87% during the forecast period (2024 - 2032). Additionally, the market size for Mobile Security was valued at USD 9.36 billion in 2023.

The adoption of BYOD in various businesses and the increase in usage of mobile devices for tasks that involve sensitive data such as important banking information, credit card numbers, and social security numbers have also led to the growth of the mobile security industry are the key market drivers enhancing the market growth.

Mobile Security Market Trends

Rise in the adoption of BYOD is driving the market growth

Companies and enterprises are adopting the BYOD trend, which creates a much more efficient workplace for employees. The employees use the company's network during work hours and when the device is out of the company's premises. Thereby, the need to ensure the safety and security of financial and corporate data at remote locations increases. The security solution adopted by companies should differentiate between the personal data of employees and the company's data. Individual users also face data loss when hackers target payment details and audio and video files. Mobile security solutions are increasingly becoming necessary for all mobile users to protect their data. This factor increases the market CAGR in the forecast period.

Additionally, artificial intelligence is integral to different smartphones and their development. Smartphone manufacturers, such as Apple, Samsung, Huawei, and others, leverage machine learning and artificial intelligence into the development of their smartphone models, thus, providing lucrative opportunities for market growth. Furthermore, according to a study, 200 mobile security application companies are expected to include AI artificial intelligence and machine learning in smartphones to improve various features, such as cameras and security applications.

Moreover, companies are implementing artificial intelligence in smartphones and tablets to empower mobile applications and increase the performance of various mobile devices. AI allows mobile applications to get insights from various data generated by all users and helps improve the decision-making capabilities of the user. Thus, proving to be a lucrative opportunity for the growth of Mobile security market revenue.

Mobile Security Market Segment Insights

Mobile Security Solution Insights

Based on solutions, the Mobile Security market segmentation includes mobile data protection, firewall, mobile encryption, and multi-factor authentication. The mobile data protection segment is the largest in the mobile security market due to the growing need to protect and remedy threats during any mobile security breach or attack. These technologically advanced solutions help detect and remediate the most recent known and unknown threats. It forms the first level of defense for organizations to secure endpoints.

Data Encryption is expected to be a faster-growing segment in the mobile security market due to the cyber-defense plan provided by mobile security. It is simple to target smart gadgets like smartphones, tablets, and smartwatches to collect important, private, and secret data. Enterprises and individual customers increasingly focus on mobile security to protect their mobile devices from various security breaches. One of the main factors influencing the entire industry is the rise in the usage of smartphones, tablets, laptops, and other portable devices for personal and business use.

October 2019: Fortinet acquired enSilo, an advanced endpoint security solutions provider, to enhance its current security portfolio with real-time automated detection and response features to protect mobile endpoints.

May 2019: Microsoft launched its Endpoint Manager, including the capabilities of Configuration Manager and Intune, along with additional Microsoft services and products. The endpoint manager enables enterprises to manage many mobile devices their employees use.

Mobile Security Deployment Insights

Based on deployment, the mobile security market segmentation includes cloud and on-premises. The cloud-based deployment segment is projected to grow at the highest CAGR during the forecast period. The adoption of cloud computing is gaining popularity in enterprises. Several organizations are gradually moving towards cloud infrastructure, and this trend is expected to grow in the coming years. The benefits offered by cloud infrastructure, such as ease of adoption, scalability, and easy installation of security solutions, support the growth of this segment.

Mobile Security System Insights

Based on the system, the mobile security market segmentation includes Windows, Android, and iOS. The android segment is expected to account for the largest share of the mobile security market. The growth of this segment is attributed to the increasing security risks has made the deployment of security software in mobile devices.However, the others segment is expected to grow at the highest rate during the forecast period since the operating system of windows, and Blackberry 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. BlackBerry OS is a closed operating system that is a security tool for smartphone users.

February 2019: BlackBerry Limited acquired Cylance (California), a cyber security and Artificial Intelligence Company. This acquisition is expected to help BlackBerry use Cylance's technology and provide security solutions to its customers.

Mobile Security End-User Insights

Based on the system, the Mobile Security market segmentation includes Telecom and IT, Individual Users, BFSI, government, Healthcare, Retail, and Education. The telecom and IT segment held the largest market share in 2022. Incumbents of the telecom and IT sector store a huge amount of consumer and organizational data. Furthermore, with the advent of digital automation solutions, data theft, and malware risk reflects high business loss to organizations.

Additionally, organizations in the sector are more prone to Distributed Denial of Service (DDoS) attacks, insider threats, and vulnerabilities from unsecured network connectivity among enterprise portable endpoint devices. As a result of an increase in threats, enterprises from the IT and telecom sectors adopt endpoint threat detection and remediation solutions. The healthcare sector is expected to expand at the highest CAGR over the forecast period. The majority of players are developing new solutions for patient monitoring, workforce management, and EHR management owing to increasing cyber-attacks in the healthcare sector.

Mobile Security Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American mobile security market will dominate this market due to the rise in spending on information security solutions among enterprises, which will boost the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe's mobile security market accounts for the second-largest market share due to the growing adoption of mobile devices among various sectors, such as government and defense, and retail, which drives the regional market.Further, the German mobile security market held the largest market share and the UK mobile security market was the fastest-growing market in the European Region.

The Asia-Pacific mobile security market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing number of smartphone users, advancements in mobile device technologies, and advanced network connectivity in the Region are some of the essential factors anticipating the rise in mobile security challenges. Moreover, China’s mobile security market held the largest market share, and the Indian mobile security market was the fastest-growing market in the Asia-Pacific region.

Mobile Security Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the mobile security market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The mobile security industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the mobile security industry to benefit clients and increase the market sector. In recent years, the mobile security industry has offered some of the most significant advantages to the telecommunication industry. Major players in the mobile security market, including Symantec Corporation (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.), IBM Corporation (U.S.), AVG Technology (Netherlands), Intel security group (U.S.), Kaspersky Lab (Russia), Apple Inc. (U.S.), Verizon Communication Inc. (U.S.) and others, are attempting to increase market demand by investing in research and development operations.

BlackBerry Limited is a Canadian software company specializing in cyber security. It was originally known as Research In Motion. As RIM, it developed the BlackBerry brand of interactive pagers, smartphones, and tablets. BlackBerry helps organizations defend against cyber threats.BlackBerry is now a leader in cyber security—helping businesses, government agencies, and safety-critical institutions of all sizes secure the Internet of Things (IoT). BlackBerry products and services include the Cylance AI-based endpoint security solutions, BlackBerry UEM unified endpoint management platform, the BlackBerry AtHoc critical event management solution, and BlackBerry QNX software for secure embedded systems.BlackBerry Limited acquired Cylance (California), a cyber security and Artificial Intelligence Company. This acquisition is expected to help BlackBerry use Cylance’s technology and provide security solutions to its customers.

Microsoft Corporation is an American multinational technology corporation headquartered in Redmond, Washington. Microsoft's best-known software products are the Windows operating system, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Microsoft launched its Endpoint Manager, including Configuration Manager and Intune capabilities, along with additional Microsoft services and products. The endpoint manager enables enterprises to manage many mobile devices their employees use.

Key Companies in the mobile security market include

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  Symantec Corporation (U.S.)

  
  


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  Microsoft Corporation (U.S.)

  
  


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  Google Inc. (U.S.)

  
  


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  IBM Corporation (U.S.)

  
  


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  AVG Technology (Netherlands)

  
  


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  Intel security group(U.S.)

  
  


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  Kaspersky Lab (Russia)

  
  


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  Apple Inc. (U.S.)

  
  


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  Verizon Communication Inc. (U.S.)

  
  

Mobile Security Industry Developments

September 2023 reports that Uniken, a security platform provider, has been chosen to support the Indian Citizen Assistance for Mobile Privacy and Security (I-CAMPS) as a strategic mobile and cybersecurity partner. The Indian government’s I-CAMPS project is aimed at creating a citizen advisory platform on mobile security and privacy. This collaboration would ensure victims of privacy and mobile security hazards are protected, as the companies involved would like citizens in India to protect themselves.

In July 2023, Approov, the provider of end-to-end mobile security services, launched its global partner program that grants resellers access to Approves mobile protection and comprehensive support.

In July 2023, consumer electronics provider Samsung Electronics Co., Ltd. collaborated with software technology provider Microsoft Corporation to optimize enterprise mobile device security for today’s digital workspace. An initial hardware-based on-device attestation solution has been created through this collaboration for company-owned and BYOD devices.

May 2022 witnessed Google making new additions to its products during I/O 2022, such as providing more secure internet browsing experiences.

In May 2022, PIXM announced its latest product, PIXM Mobile, which is an anti-phishing tool that protects consumers and businesses from targeted phishing attacks via smartphones.

In January 2022, Allot Ltd., a leading provider of innovative network intelligence and security solutions, introduced Allot Network Secure – an all-inclusive cybersecurity solution designed specifically for protecting company employees from many cyber threats while also allowing parents to monitor their children’s online activities.

August 2022: Lulea University of Technology (LTU) uses Citrix Systems Inc.’s solutions in order to enable students to learn from anywhere while still ensuring they deliver their best performance without any geographical barriers related to conventional classrooms.

Mobliciti was acquired by Kocho, a UK-based managed services provider specializing in cybersecurity, identity management, and cloud transition, in October 2022. Kocho will be able to develop more enterprise mobility, security, and wireless connectivity solutions as a result of the acquisition. The strategic partnership is designed to speed up digital transformation efforts for both company’s customers by providing a holistic range of services.

In July 2022, CWSI extended its presence in the UK market through the purchase of AVR International at EUR 5.2 million. Established over two decades ago, AVR International specializes in consulting, professional services, and support for top security and enterprise mobility solutions. This step allows CWSI to expand its offerings to all other sectors with heightened safety measures and improved mobility solutions that were available only to their prestigious clients, such as top private hospital groups.

Mobile Security Market Segmentation

Mobile Security Solution Outlook

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  Mobile Data Protection

  
  


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  Firewall

  
  


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  Data Encryption

  
  


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  Multi-Factor Authentication

  
  

Mobile Security Deployment Outlook

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  Cloud

  
  


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  On-Premises

  
  

Mobile Security System Outlook

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  Windows

  
  


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  Android

  
  


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  iOS

  
  

Mobile Security End-User Outlook

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  Telecom and IT

  
  


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  Individual Users

  
  


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  BFSI

  
  


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  Government

  
  


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  Healthcare

  
  


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  Retail

  
  


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  Education

  
  

Mobile Security Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America