Portland, OR, Feb. 17, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global mobile security market was pegged at $19.83 billion in 2019, and is anticipated to reach $122.89 billion by 2027, registering a CAGR of 25.8% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in the trend of mobile payments, increase in adoption of BOYD in workplaces, and surge in need to provide protection to video streaming content fuel the growth of the global mobile security market. On the other hand, high costs of mobile security solution and complexity in designing embedded security setup restrain the growth to some extent. Nevertheless, rapid usage of machine learning and artificial intelligence in mobile security applications are projected to create multiple opportunities in the industry.
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Impact of COVID-19 on Mobile Security Market:
- The outbreak of covid-19 led to rise in the trend of mobile payments, which in turn boosted the global mobile security market.
- This trend is likely to continue post pandemic as well, since digital payment system caters to the social distancing norms mandated by different government bodies and has become a preferred choice among individuals.
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The global mobile security market is analyzed across operating system, end user, enterprise solution type, industry vertical, enterprise size, and region. Based on operating system, the android segment contributed to more than half of the total market revenue in 2019, and is projected to lead the trail by 2027. At the same time, the iOS segment would manifest the fastest CAGR of 27.2% during the study period.
By end-user, the enterprises segment accounted for more than four-fifths of the total market share in 2019, and is anticipated to rule the roost by 2027. The individuals segment, on the other hand, would manifest the fastest CAGR of 29.2% during the forecast period.
By geography, North America held the highest share in 2019, garnering more than one-third of the global mobile security market. Simultaneously, the region across Asia-Pacific would exhibit the fastest CAGR of 26.9% from 2020 to 2027. The other two provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global mobile security market report include Apple Inc., BlackBerry Limited, Broadcom Inc, Citrix Systems, Inc., Google LLC, IBM Corporation, Mobileiron, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd, and VMware, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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