The Global Mobile Security Market size is expected to reach $33.5 billion by 2030, rising at a market growth of 19.5% CAGR during the forecast period.
The widespread adoption of mobile devices, including smartphones and tablets, is a characteristic feature of North America. Consequently, the North America segment captured $2,935.2 million revenue in the market in 2022. The region is home to numerous tech companies, startups, and research institutions that actively contribute to developing and advancing solutions. Thus, these aspects will boost the demand in the segment.
The major strategies followed by the market participants are Mergers & Acquisition as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2021, Cisco Systems, Inc. announced the acquisition of Kenna Security, Inc. Cisco believes this integration will revolutionize the collaboration between security and IT teams, leading to a reduction in the attack surface and quicker detection and response times. Additionally, In April, 2020, Infineon Technologies AG acquired Cypress Semiconductor Corporation. This addition strengthens Infineon's focus on structural growth drivers and expands its range of applications, accelerating profitable growth.
Based on the Analysis presented in the KBV Cardinal matrix; Cisco Systems, Inc. and Broadcom, Inc. are the forerunners in the Market. For Instance, In November, 2019, Broadcom Inc. has finalized its acquisition of Symantec Corporation's Enterprise Security business. This division will now operate as the Symantec Enterprise division within Broadcom, with Art Gilliland appointed as SVP and General Manager.
BYOD environments often feature a diverse ecosystem of devices, including various makes, models, and operating systems. This diversity increases the complexity of managing and securing numerous devices accessing corporate networks and data. The solutions provide endpoint protection, including antivirus, anti-malware, and threat detection capabilities, to safeguard devices against malicious attacks. Thus, these aspects will boost the demand for mobile security in the coming years.
Additionally, Mobile malware includes various types of malicious software specifically designed to target smartphones and tablets. The solutions employ advanced malware detection algorithms, behavioral analysis, and signature-based detection to identify and neutralize malicious code before it can compromise the device or steal sensitive information. Owing to these aspects, the market will witness increased demand in the upcoming years.
The delicate balance between robust security measures and a seamless user experience is a perennial challenge in developing these solutions. However, frequent and intrusive update prompts can disrupt user activities and lead to frustration. Developers need to find ways to encourage prompt updates without causing inconvenience. Thus, these aspects can reduce the demand for mobile security in the upcoming years.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions.
Drivers 
Restraints 
Opportunities 
Challenges Based on offering, the market is segmented into solution and services. The solution segment held 70.13% revenue share in the market in 2022. With the increasing use of mobile applications, securing them has become crucial. Mobile Application Security solutions include app scanning, code analysis, and behavioral monitoring to identify and mitigate vulnerabilities and malicious activities.
The solution segment is further segmented into network security, data security & encryption, web security, identity & access management, endpoint security, application security, and others. The network security segment held the 27.86% revenue share in the market in 2022. Mobile VPNs establish secure and encrypted connections for mobile devices over public networks, ensuring the confidentiality and integrity of data transmitted between the device and the corporate network.
The services segment is bifurcated into professional services and managed services. The professional services recorded the 67.48% revenue share in the market in 2022. Professionals conduct a thorough assessment of an organization's mobile security risks, identifying vulnerabilities and providing recommendations for mitigation. Consultants assist in designing a robust architecture tailored to the organization's needs, ensuring a holistic and effective security framework.
Based on operating system, the market is divided into Android, iOS, and others. In 2022, the iOS segment witnessed a 36.14% revenue share in the market. Many enterprises adopt iOS devices for their employees due to the perceived security advantages Apple's ecosystem offers. iOS devices are often preferred in corporate environments where stringent security measures are essential. Apple is known for providing regular and timely software updates for iOS devices.
Based on deployment, the market is segmented into on-premise and cloud. The on-premise segment held the 56.5% revenue share in the market in 2022. With on-premise deployment, organizations have complete control over their data. This can be particularly important for businesses that handle sensitive information and have regulatory or compliance requirements that necessitate strict control over data storage and processing.
By enterprise size, the market is bifurcated into large enterprises and small & medium enterprises. The small and medium enterprises segment 38.38% the maximum revenue share in the market in 2022. The solutions for SMEs need to be cost-effective and aligned with budget constraints. These businesses may not have the financial resources for extensive security investments, so solutions that provide a balance between affordability and effectiveness are crucial.
Based on vertical, the market is divided into BFSI, retail, government & defense, IT & telecom, healthcare & lifesciences, manufacturing, energy & utilities, and others. In 2022, the BFSI segment witnessed a 20.39% revenue share in the market. Financial institutions, especially banks, have undergone a significant digital transformation, with a growing emphasis on mobile banking services.
Free Valuable Insights: Global Mobile Security Market size to reach USD 33.5 billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired a 27.61% revenue share in the market. The Asia Pacific region has experienced rapid and widespread adoption of smartphones. Countries like China, India, South Korea, and Japan have become significant contributors to the global smartphone industry.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 8.2 Billion |
| Market size forecast in 2030 | USD 33.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 19.5% from 2023 to 2030 |
| Number of Pages | 437 |
| Number of Tables | 760 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Offering, Operating System, Deployment, Enterprise Size, Vertical, Region |
| Country scope |
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| Companies Included | Broadcom, Inc. (Symantec Corporation), Check Point Software Technologies Ltd., Intel Corporation, IBM Corporation, Cisco Systems, Inc., Hewlett Packard enterprise Company, FireEye, Inc., Infineon Technologies AG, Sonicwall, Inc, AT&T, Inc. |
By Offering
By Operating System
By Deployment
By Enterprise Size
By Vertical
By Geography
The Market size is projected to reach USD 33.5 billion by 2030.
Widespread adoption of smartphones and tablets are driving the Market in coming years, however, Concerns associated with diverse mobile ecosystems restraints the growth of the Market.
Broadcom, Inc. (Symantec Corporation), Check Point Software Technologies Ltd., Intel Corporation, IBM Corporation, Cisco Systems, Inc., Hewlett Packard enterprise Company, FireEye, Inc., Infineon Technologies AG, Sonicwall, Inc, AT&T, Inc.
The expected CAGR of this Market is 19.5% from 2023 to 2030.
The Large Enterprises segment is leading the Market by Enterprise Size in 2022; there by, achieving a market value of $19.3 billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $11.4 billion by 2030.
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