Inkwood Research estimates that the Global Mobile Security Market is expected to record a CAGR of 13.88% in terms of revenue during the forecasting years of 2021-2028.
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Mobile security is characterized by the protection of
laptops, smartphones, and tablets, in addition to numerous other portable
computing devices. It also includes the networks these gadgets are connected
to, therefore protecting them from risks, threats, and vulnerabilities
associated with wireless computing.
Surging
Number of Mobile Payments Expected to Fuel Market Growth
Presently, payment systems do not comprise particular
recommendations, in terms of accepting payments via consumer mobile devices.
The expansion and extent of mobile devices, like smartphones and laptops,
harbor the potential to expand the payment ecosystem, while also including
device manufacturers and mobile operators in the mix. As a result, multiple
payments approaches, such as cloud or phone payment, present new challenges for
data security.
Moreover, conventional card payment methods can be substituted
by intermediaries, like Trusted Service Managers (TSMs), offering over-the-air
delivery competencies to mobile devices. TSM represents the intermediary
between a third party and mobile network operators (MNO). Further, the
authentication is verified through a separate chip, termed, secure element
(SE).
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Enterprises
Segment Dominated the End-User Category in 2020
Enterprises such as retail, financial institutions,
government, manufacturing and automotive, education, telecommunication, and
information technology (IT), defense and intelligence, aerospace, and
healthcare are adopting mobile security solutions, in order to protect their
data and enhance productivity. Enterprise users require security solutions that
safeguard individual data files and documents, while enabling users to maintain
productivity and collaborate securely. Several companies that adopt bring your
own device (BYOD), need software solutions that offer mobile users the
applications they need, to work efficiently. As a result, enterprises use
mobile security, as per their requirements, thereby positively influencing the
market growth.
North
America to Garner the Highest Market Share by End of Forecast Period
Factors such as the digitization of payments, the variety of
choices that the mobile payment landscape offers, the increased prevalence of
improved technologies, such as digital wallets and wireless payments, are
attributed to North America’s significant revenue share. Moreover, the
increased threat to data privacy across the region also plays an essential role
in driving the North America mobile security market growth.
Online security solutions provided by companies to
individual users are relatively cost-effective, thereby facilitating market
penetration. Additionally, solution providers also offer trial versions of data
production, application management services, and malware reduction. As a
result, competitive rivalry is expected to be high across the global mobile
security market.
Some of the distinguished companies operating in the market
are, International Business Machines Corporation, Blackberry Limited, Microsoft
Corporation, Apple Inc, Samsung Electronics Co Ltd, etc.
About Inkwood
Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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