Sep 7, 2020 1:00 PM ET
Mobile Application Security Market is estimated to reach $8.24 billion by 2025
iCrowd Newswire -
Sep 7, 2020
The Global Mobile Application Security Market
is estimated to reach $8.24 billion by 2025, growing at a CAGR of 23.1% from 2020 to 2025. Defending mobile device apps from digital fraud in form of malware, hacking and other criminal manipulation is considered mobile application security. The implementation of mobile app security is done by two processes, first is through technological means and second is through personal responses. The mobile apps when connected to the business networks forms a major channel for security threats. Mobile application threats generally involves financial login credentials being stolen, credit cards data being stolen and resold, hackers access to business networks and others. Owing to these mobile application threats, security application implementation is done widely. The increasing demand for business productivity mobile apps, threat detection and data protection solutions and rise in mobile app security issues are driving the growth of the market.
By Deployment- Segment Analysis
By deployment Mobile Application Security Market is segmented into On-premises and cloud based. Cloud based solutions are witnessing a significant growth in the market. Cloud based networking has increased in the recent years due to its cost effectiveness. There is an upsurge in cloud based internet services owing to which mobile application security solutions are widely being deployed in cloud based networks. The third party cloud service provider also provides access to the cloud computing resources like servers and storage over the internet which makes the deployment of public cloud easier for the small and medium enterprises along with the large enterprises. Furthermore, public clouds can be deployed faster than the private cloud with an almost infinity scalable platform making it easy for the deployment by various IT firms. These factors are driving the growth of cloud based deployment of mobile application security thereby boosting the growth of the market.
By Organization Size – Segment Analysis
By Organization Size the market is segmented into Small & Medium Enterprises and Large Enterprises. Large organizations are dominating the market owing the adoption of mobile application security solutions due to the implementation of the emerging security for mobile applications in smartphones and tablets. Generally the small and medium enterprises lacks capabilities and resources required for mobile application security. The growth of large enterprises along with the growth of cloud based internet services and mobile application security solutions are the factors fueling the growth of the market.
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Geography – Segment Analysis
Global Mobile Application security Market is dominated by North America region by a market share 38.7% in 2019. The growth in cloud based networking, mobile devices and presence of major key players for whom there is requirement of security and vulnerability management are driving the growth of the market. Furthermore, there is a presence of huge IT firms in the North American region due to which there is requirement for cloud managed LAN networks. So, due to these factors there is demand for security and risk management of mobile device applications contributing to further growth of the market in North America region. Furthermore, dynamic business requirements along with growing enterprises are aiding the use of cloud based networks in this region. The rise of industrial sector among which the IT sector companies are the major ones in the recent years in this region are accounting for more use of the security and vulnerability management and mobile application security. These factors are boosting the growth of the market in this region.
Drivers – Mobile Application Security Market
- Rising demand for security solutions to offer protection against web based malware:
The mobile devices in the business applications act as an intermediate between app distribution platforms and data transmission channel through which the data is further carried out to the server. The rising demand for security solutions to offer protection against web based malwares for the mobile application security purposes have driven the growth of the market. Many of the end users are providing applications for protection against malwares that runs in Android and ioS based mobile devices. These applications generally deliver threat protection and data protection for the mobile security applications. The mobile application security is an essential requirement for almost all businesses for protecting its consumer, business and IP data. Furthermore, Consumer app development and IT acquisition strategy also require a secured mobile application by the users belonging to that organizations. These factors are driving the growth of the market.
- Growth in cloud computing, mobile device & software and vulnerability assessment:
The growth of IT and telecommunication industries have led to the growth of cloud computing, mobile device and software vulnerability assessment. According to the International Trade Administration, in 2018, 50% of enterprises with more than 1000 users are using products provided by Cloud Access Security Broker (CASB) to monitor and manage their use of software as service and forms of public cloud in United States. The use of cloud computing has increased the risk of malware threats over the cloud networks. As the cloud managed services are best suited for the use in the various IT firms due to their high speed internet and cost effectiveness, the public cloud, private cloud and hybrid cloud technologies are accessed through the servers of the organizations. Owing to these benefits there is surge in adoption of cloud computing thereby driving the growth of the market. These factors are driving the growth of the market.
Challenges – Mobile App Security Market
- Lack of resources and capital investment:
Although there are many advantages of mobile application security solutions the small and medium enterprises generally face challenge of lack of resources due to which these enterprises are unable to implement security and vulnerability management tools in the mobile devices. Furthermore, these enterprises also face capital problems. These factors are hindering the growth of the market.
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Mobile App Security Market is dominated by major companies such as VM Ware, Trend Micro, Symantec, MobileIron, McAfee, Lookout, KasperSky, AirPatrol, AVG and Avast among others.
- November 8, 2018- Symantec Corporation acquired Appthority. The acquisition offered Symantec customers with latest mobile application security that can give protection from malwares and other threats.
- June 15, 2018- Zimperium acquired Mi3 Security, Inc. Through the acquisition cyber threat detection and security for smartphones were provided to the Zimperium customers.
- Rise in adoption of mobile application security solution is being driven due to rise in cyber crime and cyber threats along with growth in end users.
- Cloud based deployment are dominating the market owing to their cost effectiveness and upsurge in cloud deployment by most of the end users globally.
- North America is expected to dominate the global Mobile application Security Market in the forecast period 2020-2025 owing the rising use of cloud based networking and growth in IT and Telecom industries.
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