According to the new market research report "Mobile Security Market by End User (Individual and Enterprise (Solution (Authentication, Application Security, & Device Security), Service, Deployment Mode, Organization Size, Vertical), Operating System (IOS & Android), & Region - Global Forecast to 2024", published by MarketsandMarkets, the global mobile security market size is expected to grow from USD 3.0 billion in 2019 to USD 7.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. Major factors fueling the market growth are growing Bring Your Own Device (BYOD) trend in enterprises, and increasing mobile adoption around the world.

Browse in-depth TOC on “Mobile Security Market”

103 – Tables

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Mobile application security segment to hold the largest market size during the forecast period

Mobile application security solutions are used to protect various applications running on mobile devices. As many new applications are being introduced on popular mobile application marketplaces, such as Google Play store for Android or App Store for iOS, people are using multiple applications for entertainment and utilities. Many of these mobile applications access the sensitive data, hence, the protection of the applications becomes an important task. Mobile application security ensures confidentiality of the data transferred between mobile applications while ensuring transparency and visibility in business processes.

Among professional services, integration and implementation to grow at the highest CAGR during the forecast period

Professional services are segmented into three parts: training and consulting, integration and implementation, and support and maintenance. The implementation services provided by the mobile security vendors and managed services providers offer the SMEs and large enterprises to efficiently implement mobile identity management solutions, mobile data protection solutions, Mobile Device Management (MDM) solutions, mobile Virtual Private Network (VPN), and mobile application management within the organization. The vendors provide the Small and Medium Enterprises (SMEs) and large enterprises with cohesive services to integrate and firmly implement mobile security solutions within their existing infrastructure.

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Large enterprises segment to hold a larger market size during the forecast period

North America to hold the largest market size during the forecast period

North America has a high mobile penetration. According to the report named Mobile Economy North America 2018, published by GSMA, unique mobile subscribers in North America exceeded 300 million, accounting for 84% of the population, at the end of 2017. With a high number of unique mobile subscribers, North America represents significant growth opportunities for mobile security solutions providers. North America tops the world in terms of the number of security vendors and security breach incidents. Industries and government organizations in North America are investing heavily in security solutions and services to combat cybercrimes. Growing trends such as Bring Your Own Device (BYOD), Internet of Things (IoT), and the Internet of Everything (IoE) have resulted in tremendous growth in this region; they have also triggered a rise in next-generation threats and added more complexities and concerns to mobile security solutions providers.

Market Players

Major North American vendors in the mobile security market are Microsoft (US), CrowdStrike (US), Symantec (US), Trend Micro (Japan), Sophos (UK), McAfee (US), Kaspersky (Russia), VMware (US), IBM (US), ESET (Slovakia), BlackBerry (Canada), MobileIron (US), Samsung (South Korea), F-Secure (Finland), Check Point (Israel), Panda Security (Spain), Bitdefender (Romania), OneSpan (US), Quick Heal (India), Fortinet (US), Citrix Systems (US), Webroot (US), Keeper Security (US), Amtel (US), and Codeproof (US).

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