The global mobile security software market was valued at around $680 million in 2015 and is expected to reach about $1 billion by 2020, says Technavio.
Technavio has announced its latest market research report on the global mobile security software market to its IT security portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global mobile security software market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include AVG, Kaspersky, McAfee, and Symantec.
In terms of geographical analysis, the Americas will be the largest region in the global market, reaching revenues of over $441 million by 2020. Brazil, Mexico, the US, and Argentina will emerge as the key revenue-generators.
“Major smartphone vendors are collaborating with various retailers and financial institutions to introduce NFC-based mobile payments. The use of NFC-based payments enhances the procedure of contactless payments. Mobile devices such as smartphones, laptops, and tablets can be integrated with the NFC technology to initiate payments via Wi-Fi or Bluetooth using the digital credentials stored in these devices. The introduction of mobile security software will allow secure and authenticated transactions through NFC-based based terminals,” says Amrita Choudhury, a lead analyst at Technavio for research on IT security.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased access to high-speed internet with 3G and 4G networks
Technological advancements like the emergence of 3G and 4G networks are increasing the demand for mobile security software. High-speed internet services increase the risk for security issues resulting in the growing need for effective mobile security software to avoid internet-centric malware attacks. The availability of 3Gs connection and 4G networks will increase the adoption of mobile security software.
Growing popularity of mobile applications
The improved device functionalities are leading to the availability of advanced mobile devices and the demand for mobile applications. Mobile applications are easy, quick, accessible on smartphones, and are convenient for users. Some of these applications include e-mail, calendars, teleconferencing, and entertainment applications. These applications make devices susceptible to virus attacks and are increasing the requirement for mobile security software. The growing applications of IoT and connected devices like smart cars, wearables, smart homes, and smart sensors that collect, process, and transmit data will fuel the growth of this market during the forecast period.
Rise in number of online transactions
The advent of banking and e-commerce transactions on mobile devices is making them vulnerable to cyber-attacks. Online transactions are gaining prominence among individual consumers because they are very easy, quick, and convenient. Cyber-attacks are increasing in sectors like the BFSI, e-commerce, and retail. Security threats such as identity theft and phishing can be avoided using mobile security software. For instance, Gemalto is providing mobile payment security software for preventing fraudulent activities.
Privacy concerns of mobile users
The growth in internet speed, cloud services, and a number of apps available on mobile devices is increasing the threats of malware and virus in these devices. The smartphones for managing finances, online shopping, paying bills, and playing online game have led to the growing security concerns among smartphone users. Harmful apps can access sensitive data and photos from mobile devices, monitor, and track a user’s activity, make unauthorized calls and send SMSs. Such privacy concerns are raising the requirement for embedded mobile security software in smartphones.
Other prominent vendors identified in this report are AegisLab, Apple, Avast, Bitdefender, BullGuard, CA Technologies, Cisco, Fortinet, F-Secure, Juniper Networks, Quick Heal, Sophos, and Trend Micro.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Mobile Security Software Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Mobile Payment Security Software Market 2016-2020
- Global Mobile Identity Management Market 2016-2020
- Global Mobile Phone Insurance Market 2016-2020
- Global BYOD Security Market 2016-2020
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