Commercialization of 5G Services to Expand Mobile Security Market

Market Highlights

The global mobile security market 2020 is expected to experience a boom. Increasing demand for advanced security solutions to protect the data in phone from being stolen is anticipated to drive the growth of the market. As per the observation offered by Market Research Future MRFR, the global mobile security market is expected to register 29.55% CAGR over the forecast period 2018 to 2023. Its estimated valuation is anticipated to rise from USD 10.5 Bn in 2017 to USD 48.85 Bn by the end of 2023.

Mobile security has gained much popularity due to the rising demand for smartphones. Smartphones are designed to storage different types of data which has led to the adoption of security solutions for its protection. It is also supposed to benefit from the rising internet services. Increasing penetration of internet services is expected to impact the mobile security market positively. In addition, the evolution of networking technology from 2G to 4G has paved the way for the growth of the mobile security market. The commercialization of 5G services is prognosticated to support the proliferation of the market in the foreseeable future.

The availability of cheaper phones has expanded the consumer base of mobile device security services. With the rising sales of smartphones, the mobile security market is also expected to grow in the upcoming years. In addition, the rising awareness about the availability of different types of mobile application security solutions is also projected to have a favorable influence on the growth curve of the mobile security market. Rising middle-income population is also anticipated to bear a considerable impact on market growth. In addition, the ongoing corporate trend of BYOD is also prognosticated to motivate the expansion of the mobile security market in the coming years. With more reliance on the use of own devices for professional work, data theft has become a crucial problem. Thus, it is anticipated to accelerate revenue generation in the mobile security market.

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Segmentation:

By solution, the mobile security market segments are mobile data protection, multi-factor authentication, mobile application management, data encryption, and firewall.

On the basis of deployment, the bifurcation of the mobile security market covers cloud and on-premises.

Based on operating system, the mobile security market has been segmented into iOS, blackberry, android, windows and others.

On the basis of end-user, the segments of the mobile security market identified in this report are individual users, retail, government, financial institutions, telecom and IT, manufacturing, education, automotive, and others.

Regional Analysis

The geographical analysis of the global mobile security market has been included in this report that spans across North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). These regions are also segmented and studied on country basis. North America is anticipated to maintain its stand at the pole position in the upcoming years. It is assessed in the report that the presence of vendors of security solutions in the region is poised to drive the growth of the mobile security market in the upcoming years. Europe is also projected to witness similar growth pattern and is likely to thrive at a considerable pace in the years to come. Technological developments and its large-scale adoption are poised to emerge as the driving factor in the foreseeable future.

Competitive Dashboard

Symantec Corporation (US), Google Inc. (US), Microsoft Corporation (US), IBM Corporation (US), Intel security group (US), AVG Technologies (Netherlands), Kaspersky Lab (Russia), Apple Inc. (US) AT&T Inc. (US) and Verizon Communication Inc. (US) are some of the key players in the global mobile security market. These players are projected to thrive on the advancing technologies, product launches, and product portfolio development.

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Global Mobile Security Market Research Report, Solution (Multi-Factor Authentication, Data Encryption), Deployment (Cloud, On-premises), Operating System (iOS, Blackberry, Android), End-User (Individual Users, Financial Institutions) –  Forecast till 2023

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