Mobile Security Software Market Share, As Per MRFR Study Key Regions To Reach At Demographic, Geographic Segment By 2027
Market Scenario:
Market
Research Future (MRFR) estimates the global Mobile
Security Software Market Size to hit USD 29,427
Million at a CAGR of 14.1% from 2020 to 2027 (forecast period).
Multiple Factors to Boost Market Growth
The
global mobile security software market is growing and will likely provide
significant opportunities in industries such as BFSI, government & defense,
healthcare, and IT & telecom. The increasing sophistication of
cyber-attacks on mobile devices, as well as the growing trend of bring your own
device (BYOD) at various companies, are major drivers for this industry. The
market is searching for prospects with the advent of mobile security as a
service, as it is expected to provide enterprises with faster, easier, and more
cheaper solutions to satisfy their IT requirements without having to develop,
maintain, or create their own infrastructure.
Moreover,
as the theft of confidential financial data becomes more common, the majority
of customers are implementing mobile payment security software for mobile
devices. Since the entire payment process requires authorization between the
merchant's acquirer and the issuing bank, this prevents fraudsters from getting
credit and debit card details. In addition, the increasing adoption of
m-commerce and mobile banking is predicted to increase the use of mobile
payment security software. There is also a growing need among consumers to
protect personal financial information, which fosters industry growth.
COVID-19 Impact on the Global Market
The
COVID-19 pandemic forced businesses to rethink their business continuity plans
and assess their remote work capability. Working in remote places creates a
weak link in the security ecosystem since workers opt to connect to the network
over public Wi-Fi. Furthermore, the COVID-19 outbreak would force people to
stay at home for an extended amount of time, encouraging enterprises to
implement security solutions for mobile endpoints.
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Competitive
Outlook:
The
key players in the worldwide mobile security software market are Apple Inc.
(US), Intel Security (US), Kaspersky Lab (Russia), Symantec Corporation (US),
VMware, Inc. (US), Microsoft Corporation (US), F-Secure Corporation (Finland),
Citrix Systems, Inc. (US), AVG Technologies (Czech Republic), and Sophos Group
PLC (UK).
Segmentation:
The
global mobile security software industry has been segmented on the basis of
type.
On
the basis of type, the global mobile security software market has been
segmented into mobile data security, mobile identity management, mobile
security as a service, mobile device security, email spam blocking, and mobile
virtual private networks.
Regional
Analysis:
North America to Remain Dominant in the Global Market
In
2018, North America had the biggest market share of 34.64%, with market size of
USD 4.935.7 million. North America was projected to be the leading market in
2019, with a 34.64% valuation for mobile security software over the assessment
period. The growing number of mobile employees in the area, as well as the
expanding trend of BYOD in enterprises, are driving demand for mobile security
software solutions. Furthermore, the increased number of cyber-attacks has
contributed to a variety of security concerns, and as a result, businesses are
looking for solid solutions to mitigate the growing number of cyber threats.
Europe to follow North
America
Western
European countries are experiencing an increase in the number of mobile
workforces. Workforce transformation is being demonstrated in countries such as
Italy, Germany, the Netherlands, and France. In such countries, the flexible
workplace policy is gaining popularity, which is encouraging the total growth
of the mobile software security industry.
Industry News
The global Mobile
Security Software Market Trends has been affected due to the lockdown across
the regions. This pandemic situation has hampered the Mobile Security Software
Market Growth as well as its productivity, supply chain, and others. Moreover,
the global market has lost its investors due to the increasing loss for the
products, supply, transportation, workforce, and others. However, in the
meantime, the key market players have implied various strategic techniques to
boost global market growth. Thus, to meet the global market demands, the global
market increased its speed in producing more valuable products for its intended
customers. Recently, the global market has stabilized its position in the
global market and is expected to register a higher Mobile Security Software
Market Size for the forecast period.
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Table of Contents:
1 Executive
Summary
2 Scope
of the Report
2.1 Market
Definition
2.2 Scope of the
Study
2.2.1 Research
objectives
2.2.2 Assumptions
& Limitations
2.3 Markets
Structure
Continued….
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