Mobile Security Market Insights And Remarkable Growth Rate Forecast Till 2027 | Fortune Business Insights™
"Increasing Adoption of Enterprise Mobility Solutions to Promote Growth"
Enterprise mobility solutions ensure that organizations enable employees to adopt secure mobile devices. In addition to this, it involves securing corporate data present in the mobile devices of the employees to prevent data theft and economic loss. Furthermore, the emergence of technologies such as internet of things (IoT) and machine learning is enabling enterprises to promote enterprise mobility among its employees. According to a report by the Soti, Inc., about three fourth of the employees in the United States are expected to be introduced to the mobility working environment in the forthcoming years. Moreover, increasing the risk of cyberattacks and malware is expected to drive the demand for the global mobile security market during the projected horizon.
The global mobile security market size stood at USD 34.94 billion in 2019 and is projected to reach USD 103.45 billion by 2027, exhibiting a CAGR of 14.6% during the forecast period.
"Growing Implementation of EMM and MTM in the Market for Enhanced Security"
The mobile solution can be implemented in an operating system (OS) as well as on individual mobile devices. The security solution deployed over OS is considered under Enterprise Mobility Management (EMM), whereas those implemented on a mobile device is considered as Mobile Threat Management (MTM). Deployment of EMM, together with MTM, offers additional features like device configuration, device management, real-time device monitoring, and GPS tracking, among others. Therefore, the integration of EMM, along with MTM, is trending in the market for better safety features.
"Network Security and Data Security is Expected to Drive the Market"
The network security solution type is likely to dominate the market. Cybercriminals are majorly attacking wireless networks such as hot spots and Wi-Fi. Although, most of the in-secured smartphones when access the unauthorized free public Wi-Fi get confronted by security. According to the State of Enterprise Mobile Security report, published by Zimperium in 2019, a large number of network attacks were faced by the U.K., China, the U.S., Japan, and Republic of Korea. The rising number of such wireless network attacks are intending the companies to deploy the mobile network security solution.
The dependency of mobile technology on the cloud-based data storage infrastructure has enabled the cloud service to be a hotspot for cybercriminals to launch attacks. The necessity to secure the cloud infrastructure drives the adoption of security solutions, as per the market analysis. To authenticate identity and access to corporate systems, employees are adopting the identity-as-a-service platform, which is boosting the growth of this market.
"North America to Remain at the Forefront; Increasing Adoption of Mobile Security Solutions to Augur Growth"
Among the regions, the market in North America was worth USD 10.38 billion and is expected to gain major global mobile security market revenue during the forecast period. This is ascribable to factors such as the increasing adoption of advanced mobile security solutions owing to rise in cyber attack and malware incidents in the region. Asia-Pacific, on the other hand, is likely to witness significant growth during the forecast period. This is attributable to factors such as massive development in the IT industry. Furthermore, special impetus by the governments in countries such as India and China on fortifying cyber world by establishing stringent data security regulations will contribute to the market growth between 2020 and 2027.
Growing malware and cyberattacks have led companies in the U.S. to adopt advanced security platforms. The U.S is expected to dominate this market share in North America by adopting enterprise mobility and mobile security solutions. The growing attacks on the healthcare sector anticipated deployment of security solutions across North America. Similarly, in Europe, the financial sector has been heavily targeted by attackers in Europe which is expected to countinue the adoption of mobile solutions across the region. Further, developed countries like the U.K., France, and Germany are showcasing the highest adoption of mobile solutions. Strengthened data security regulations by the European Union, is accelerating wireless security across Europe.
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