Mobile Security Market Size to Hit USD 103.45 Billion by 2027; Increasing Demand for Bring Your Own Device (BYOD) to Facilitate Growth

The global mobile security market size is expected to reach USD 103.45 billion by 2027, while exhibiting a promising CAGR of 14.6% between 2020 and 2027. This is ascribable to factors such as increasing adoption of emerging technologies and growing impetus on bring your own device (BYOD) service across the workplace. Fortune Business Insights, publish this information in its latest report, titled “Mobile Security Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Operating System (iOS and MacOS, Android, Windows, and Others), By Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Education, Government, Others), and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 34.94 billion in 2019.

Samsung Introducing New Security Chip for Smartphones to Bolster Growth

The era of contact-less interaction and fast-paced mobility is driving the companies to introduce mobile security solutions for connected devices such as smartphones and tablets. The companies are striving to consolidate their position and gain a major chunk of this global market share in the forthcoming years. Samsung, a renowned mobility solutions provider, is among the companies trying to strengthen their market position. In May 2020, the company introduced its new 2^nd generation security chip, S3FV9RR, for its smartphone range. According to the company, the security chip is primarily designed to secure the parts of device storage, booting process, and other mobile-based payments. Furthermore, Samsung claims that the security chip is capable of securing the cryptocurrency transactions as well. The latest innovation by Samsung is expected to benefit the companies to run several proprietary applications without fearing cyberattacks.

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https://www.fortunebusinessinsights.com/mobile-security-market-103038

Growing Adoption of Bring Your Own Device (BYOD) Culture to Foster Growth

The enterprise landscape has witnessed constant evolving of working culture to facilitate better and enhanced working conditions for the workforce. The bring your own device (BYOD) service is emerging to be a hit among the enterprises owing to its several benefits that include employee satisfaction and increased productivity. BYOD service involves the facility wherein an employee is allowed to bring his or her own personal devices such as laptops, tablets, and other mobile devices. However, increased risk of unauthorized data access, malware attacks, and data loss is prompting the companies to introduce data security solutions. Therefore, the increasing demand for enhanced data security and privacy is expected to drive the growth of the global mobile security market during the forecast period.

Product Expansion Strategies by the Companies to Stoke Demand

According to Fortune Business Insights detailed global mobile security market analysis, there are several companies proliferating in the market trying to cement their position in the fiercely competitive landscape. The companies are trying every possible strategies to place themselves in profitable position. The strategies adopted by the companies include product expansion offerings, collaboration, merger and acquisition, and novel product launches. For instance, in February 2019, Giesecke & Devrient GmBH, a German company, announced its collaboration with the United Kingdom-based, Arm Limited Company. According to the company, the collaboration is aimed at providing an eSim management solution that will secure GSMA-based Internet of Things (ioT) platforms with enhanced mobile security.

List of the Companies Operating in the Market:

• Microsoft Corporation (New Mexico, United States)


• Google LLC (California, United States)


• IBM Corporation (New York, United States)


• Lookout, Inc. (California, United States)


• Apple, Inc. (California, United States)


• Kaspersky Lab (Moscow, Russia)


• Intel Corporation (California, United States)


• VMware, Inc. (California, United States)


• AVG Technologies (Prague, Czech Republic)


• Symantec Corporation (Arizona, United States)


• F – Secure Corporation (Helsinki, Finland)


• Oracle Corporation (California, United States)


• NortonLifeLock, Inc. (Arizona, United States)


• Zimperium (Texas, United States)


• Giesecke+Devrient GmbH (Munich, Germany)

Further Report Findings:

• North America is expected to dominate the market owing to increasing adoption of enterprise mobility and mobile device security solutions. Furthermore, the market witnessed encouraging growth by registering revenue of USD 10.38 billion in 2019 and is likely to witness growth in the forthcoming years.


• The market in Asia-Pacific is expected to witness significant growth owing to high development from the IT sector during the projected horizon. Furthermore, factors such as stringent government regulations in countries such as China and India to ensure highest data security measures will propel the growth of the market in the regions.


• The android segment based on by operating system is likely to witness exponential growth during the forecast period. This is ascribable to factors such easy availability and affordability of the system that will favor growth.


• The IT & Telecom segment based on by vertical is expected to witness significant growth owing to the IT industry being the largest internet reliant industry.  In addition to this, increased incidents of cyberattacks on the IT companies is anticipated to contribute to the market growth.

Market Segmentation: