The mobile application security market is expected to reach USD 2.53 Billion by 2020 at an estimated Compound Annual Growth Rate (CAGR) of 25.7%. Mobile application security market is expected to grow due to the rising demand for security solutions to offer protection against web-based malware.
At present, there has been an upsurge in the adoption of mobile application security solutions among small and medium enterprises (SMEs) and individuals in various industry verticals. These users require mobile application security solutions in order to secure their confidential and personal documents stored in the smartphones, from data theft and misuse.
The rise in the adoption of Bring Your Own Device (BYOD) policies in the organizations has increased the usage mobile application security
The rise in the adoption of BYOD policies in the organizations has increased the usage of personal devices among employees to access organizational information. The organizations implementing BYOD policies are susceptible to security breach, therefore need to adopt security solutions for minimizing risk and to secure mobile applications.
It has also increased the risk of data theft while sending and receiving mails through various mailing apps. Thereby organizations and users are demanding solutions to protect data, and communication with other parties without the risk of losing information.
The adoption and usage of internet is driving the mobile application security market
The mobile application security market is growing is rapidly across the world due to the widespread adoption of internet services among enterprises and individuals for working and accessing information. Organizations are allowing employees to use mobile-based internet services to visit official websites and access information. This has increased the risk of data loss and unauthorized access. Moreover, rising use of cloud-based internet services is driving mobile application security market as users store their personal information on cloud because of its less cost. This has also increased the risk of hacking and data theft. These growing risks have encouraged security solution providers to develop and introduce mobile application security solutions to secure mobile applications usage.BFSI and Healthcare vertical contributes maximum market share
The mobile application security market is segmented by region as North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and Latin America; by solution as anti-virus, anti-theft, web security, data backup and recovery, IAM and authentication, compliance management; by deployment type as on premises and cloud; by user type as large enterprises, SMBs and individuals; by industry vertical as BFSI, healthcare, retail, government, IT and telecom , education, media and entertainment, manufacturing and aerospace and defense, and others. This report analyzes global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the market. The report also examines growth potential market sizes and revenue forecasts across different regions as well as user segments.
Some of the Prominent Key Players in the Mobile and Wireless Backhaul Market are:
- Trend Micro
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