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Global Mobile Security Market to Project Significant Growth as Mobile Payments Increase

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.

“Browse 59 Market Data Tables and 53 Figures spread over 119 Pages, along with an in-depth TOC on the Global Mobile Security Market Forecast 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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Related Reports:

GLOBAL CYBER SECURITY MARKET

GLOBAL ADAPTIVE SECURITY MARKET

GLOBAL SECURITY TESTING MARKET

GLOBAL FACIAL RECOGNITION

 

 

 

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