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This market research report identifies players like AVG, Kaspersky Lab, McAfee, and Symantec to be the key vendors in the global mobile security market. This market research report presents a comprehensive analysis of the key market trends, drivers, and challenges that influence market growth. It also outlines the market shares for key regions such as the Americas, APAC, Europe, and MEA.
Overview of the global mobile security market
Technavio’s market research analyst have predicted that the global mobile security market will grow at a CAGR of around 8% during the forecast period. With the availability of advanced , the number of applications and services available on these devices is also increasing. Currently, most of the mobile devices are equipped to support various data-related activities such as e-mail access, video access, and browsing. Owing to the advanced functionalities of these , services like are gaining wide acceptance among consumers. Consumers are using smartphones to make as they are easy, quick, and convenient. However, these m-commerce transactions are vulnerable to , which will augment the requirement for solutions during the forecast period.
The increasing use of mobile devices to carry out financial and transactions has necessitated the security of personal data. This has prompted the integration of several such as fingerprint recognition, voice recognition, iris recognition, signature recognition, keystroke recognition, and facial recognition into mobile devices. Such integration will ensure authorized access to personal data transmitted through . It will also lead to the elimination of any fraudulent activities in monetary transactions.
Competitive landscape and key vendors
The global mobile security market is anticipated to witness high competition among vendors as the market is still in its nascent stage. The growing requirement for advanced mobile security solutions is encouraging vendors to make huge investments in R&D. The demand in developed countries is especially high because they have large numbers of customers demanding mobile security solutions. Vendors in the market primarily compete on the compatibility issues in order to retain the market share.
· Kaspersky Lab
Other prominent vendors in the mobile security market include AegisLab, Apple, Avast, Bitdefender, BullGuard, CA Technologies, Cisco, Fortinet, F-Secure, Juniper Networks, Quick Heal, Sophos, and Trend Micro.
Geographical segmentation and analysis of the mobile security market
The Americas dominated the mobile security market in 2015, and is anticipated to have an impressive growth rate during the forecast period. Much of the region’s growth comes from the rising number of hackers and the increased awareness of cyberattacks and the environment. With several organizations adopting BYOD policy, there has been an urgent need to invest in security policies to curb the occurrence of mobile malware, vulnerabilities in mobile apps, and the fundamental recognition by cyber criminals. With the growing mobile internet penetration, the region is expected to occupy more tha 44% of the total market share by 2020.
Growth drivers, challenges, and upcoming trends: Multi-factor authentication
Upcoming trends such as the rising adoption of is gaining grounds in this market. Multi-factor authentication solutions include the use of several authentication techniques such as smart cards, phone-based authentication, and biometrics technologies to authenticate payment transactions on mobile devices such as smartphones, tablets, and laptops. As this verification technique uses two or more authentication methods, it provides an additional security layer and prevents unauthorized access to financial details of customers. With the introduction of many devices such as personal digital assistants, wireless computers, and smartphones, multi-factor authentication solutions become important for secure .
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the mobile security market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
· What will the market size and the growth rate be in 2020?
· What are the key factors driving the global mobile security market?
· What are the key market trends impacting the growth of the global mobile security market?
· What are the challenges to market growth?
· Who are the key vendors in the global mobile security market?
· What are the market opportunities and threats faced by the vendors in the global mobile security market?
· Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
· What are the key outcomes of the five forces analysis of the global mobile security market?