Smartphone Security Market – Global Industry Analysis And Forecast (2023 to 2029)

Smartphone Security Market was valued at US$ 5.87 Bn in 2022. The Global Smartphone Security Market size is estimated to grow at a CAGR of 39.8% over the forecast period.
Smartphone Security Market Overview:
The report explores the Smartphone Security market's segments (Features, Operation System, End-user and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Smartphone Security market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Smartphone Security market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
Smartphone Security Market Dynamics:
Effective smartphone security is becoming increasingly necessary as more people utilise smartphone devices. Smartphone devices are a prime target for hackers because they are increasingly being utilised to store and access sensitive data. Many companies are investing in mobile security solutions to safeguard their data & personnel in response to this growing threat. The market for smartphone security is large & includes many different types of security solutions. Solutions for smartphone security that are frequently used include remote wiping, password protection, and data encryption.

Data encryption makes guarantee that data on a smartphone device cannot be accessed by anybody without the right decryption key. By requiring a password to be entered before accessing data, password protection helps prevent unauthorized access to devices. In the event that a device is misplaced or stolen, remote wiping enables the removal of all data from the device.

The smartphone security market's explosive expansion is a result of contemporary enterprise business strategies. MMR estimates that more than 50% of business PCs are portable. Businesses are increasingly depending on Internet of Things (IoT) devices to collect and report data about their products and services, and employees are connecting to corporate networks via a variety of mobile devices and endpoints.

Mobile device management (MDM) & tools for authentication are frequently tied to smartphone security (biometric security features, PIN management, password management and screen lock patterning, for example). This analysis of the smartphone security market reveals the major factors influencing its development & highlights the important sectors & geographical areas that are employing mobile security solutions. In addition, it discusses several common mobile security use cases and important vendors.

Endpoint detection and response (EDR) and cloud-based mobile security are two particular market sectors that are expected to account for the majority of this growth within the larger global smartphone security industry. Due to an increase in cyber dangers affecting mobile devices, the EDR category is one that is expanding more quickly. Organizations can keep an eye on a variety of potential network entry points, including those accessible via mobile connections, thanks to endpoint detection. Cloud-based mobile security solutions give businesses access to web-based management capabilities, including remote IT access, which is becoming more and more popular.

In addition to a general rise in the deployment of enterprise smartphone devices, a number of other factors are influencing the growth of the smartphone security market. Principal growth factors include:

Growth in mobile payments:

The market's expansion can be attributed to elements like the expanding m-commerce sector & the escalating use of smartphones worldwide. Over the course of the forecast period, it is expected that rising internet usage for online shopping would further fuel market expansion. Businesses all over the world are adapting their payment systems to work on mobile devices, which is fostering market expansion. Mobile payment methods are quick & easy. Customers all over the world are embracing the idea of paying for goods and services using their smartphones and tablets.

Additionally, because to the difficulties brought on by the COVID-19 epidemic, traditional and online businesses alike are concentrating on responding to shifting consumer behaviour, including cashless payment alternatives using mobile devices. Over the course of the forecast period, the aforementioned factors are anticipated to drive market growth.

Near-Field Communication (NFC) in mobile payment technology efficiently transfers encrypted data to the Point of Sale (POS) devices quickly. Compared to PIN & chip technology, this saves a lot of time. Close-proximity radio frequency identification is used by NFC in mobile devices to effectively connect with NFC-capable card readers. Only the mobile devices need to be close to the terminal for information to transfer; customers do not need to physically interact with the POS equipment.

The industry is expected to expand as sound wave-based mobile payments become more widely used. The processing of sound wave-based financial transactions takes place through special sound waves that contain encrypted information about the transactions, as opposed to using conventional technologies like banking applications, mobile wallets, NFC, or card terminals. Mobile payments based on sound waves don't need the internet. Mobile payment systems based on sound waves are simple to implement and inexpensive, especially in areas and nations where inhabitants cannot purchase the most cutting-edge smartphones.

However, it is expected that security issues with mobile payment systems may impede industry expansion. Over the forecast period, the rise in high-profile data breaches around the world is anticipated to restrain the development of the mobile payment industry. Since most customers desire to protect their personal information while making purchases, they prefer to utilise debit or credit cards. Some customers still feel more at ease making contactless payments with their debit or credit cards.

Any company that uses smartphone devices to access or store sensitive data must invest in the smartphone security industry. Businesses may safeguard their employees' safety & prevent data breaches by employing these solutions. Smartphone device use is now more commonplace in both personal and professional lives. Smartphone security services are becoming more & more necessary as usage rises. Some of the explanations for the rising demand for these services include the ones listed below:

Smartphone devices are being used to store more sensitive data. People are storing an increasing amount of sensitive data on their smartphones & tablets because to the development of cloud storage. This contains all kinds of data, including financial and medical records. Therefore, there is a greater need to safeguard this data from hackers.

More advanced mobile gadgets are being developed. Today's smartphones are significantly more powerful than the original iPhones or Android phones. Because these devices are more sophisticated, there are more opportunities for hackers to take advantage of flaws in them across the global mobile security sector. More & more people are using their mobile devices for purposes other than communication. The main functions of mobile phones in the past were calling and texting. But now, people employ them for a range of activities, including email, social networking, online banking, & shopping. They must be protected from any kind of assault or breach because we depend on them for so many different tasks.

Cybercrime is expected to cost $10.5 trillion by 2025, according to a recent research by MMR. The staggering number is the result of a confluence of malevolent behaviour, as well as elements like the growing digitalization of the economy, the expansion of internet vulnerabilities, and the escalating use of Ransomware. This sharp increase is the result of hackers getting more skilled and coordinated in their methods, as well as organizations and consumers growing more dependent on digital gadgets and connections. While companies are beginning to recognize the threat that cybercrime poses, they are still lagging behind when it comes to putting security measures in place.

Many people are "woefully underprepared" for an attack, according to this. This sum accounts for both the direct expenses of crime, including ransom payments & data breaches, as well as the indirect costs of lost productivity, business interruption, and reputational harm. The report underlines the increasing sophistication and frequency of cyber-attacks, which are getting harder to identify and protect against. Businesses are more susceptible to assault as a result of their increased reliance on technology. The emergence of new technologies like the Internet of Things (IoT) and artificial intelligence (AI) (IoT).

Cybercrime is expected to increase in frequency and expense in the upcoming years across the worldwide mobile security market for a number of reasons. First off, the volume of data being generated and stored online is growing exponentially. As a result, there are greater chances for thieves to gain access to private information and perpetrate fraud or identity theft.

Criminals on the Internet Celebrate the Growing Digitalization:

The increasing digitization & popularity of smartphones are reasons why cybercriminals are happy since it gives them more opportunity to perpetrate crimes. For instance, they can takeover smartphones to access sensitive data or employ malicious programmes to steal user information. Additionally, they can use flaws in mobile systems to take over devices or launch denial-of-service assaults. Social media and other internet platforms also make it simpler for cybercriminals to find victims and disseminate their attacks. In the mobile security industry, there is an increase in the likelihood of becoming a victim of a cybercrime as more individuals use smartphones and other devices to connect to the internet.

The prospects for cybercriminals are expanding along with digitalization & smartphone adoption. There is a lot of information accessible for thieves to exploit as more and more individuals use these gadgets to access the internet, save personal information, & make financial transactions. And as the usage of smartphones spreads, so increases the chance that people may use them to conduct crimes. The existing participants in the market for mobile security now have greater prospects for revenue generation.
Smartphone Security Market Regional Insights:
In the year 2022, Europe had the biggest market share (xx%). because more people in the neighborhood are using smartphones. North America held the second-largest market share of the global market after Europe in the year 2022, and it is expected to expand at the fastest rate during the forecast period as a result of growing public awareness of and worries from various organizations about smartphone security. Additionally, it is anticipated that the widespread use of smartphones in developing countries like Japan and India would greatly accelerate market expansion in the Asia Pacific area over the course of the forecast year. Other driving factors in this industry are increased personal disposable income, a high percentage of internet users, and a rapidly expanding Smartphone market.

The objective of the report is to present a comprehensive analysis of the global Smartphone Security Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smartphone Security Market dynamic, and structure by analyzing the market segments and projecting the Smartphone Security Market size. Clear representation of competitive analysis of key players by Design, price, financial position, Features portfolio, growth strategies, and regional presence in the Smartphone Security Market make the report investor’s guide.
Smartphone Security Market Scope: Inquire before buying



Global Smartphone Security Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 5.87 Bn.


Forecast Period 2023 to 2029 CAGR:
39.8%
Market Size in 2029:
US$ 61.27 Bn.


 Segments Covered:
by Features
Anti-Theft
Data Encryption


by Operation System
IOS
Android
Windows


by End-user
Personal Users
Business Users


by Ownership
Consumer
Enterprise



Smartphone Security Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Smartphone Security Market, Key Players are
1. Ahnlab Inc
2. Avast Software A.S
3. Bitdefender Llc
4. Certicom Corporation
5. Eset
6. Spol.S.R.O.
7. Juniper Networks Inc
8. Mcafee Inc
9. Lookout Inc
10. Trend Micro Inc
11. F-Secure Corporation
12. Netqin Mobile Inc
13. Quick Heal Technologies(P) Ltd
14. Panda Security S.L
15. Columbitech AB
16. Symantec
17. Sybase Inc
18. Hauri Inc
19. Sophos Ltd
20. Kaspersky Lab.

Frequently Asked Questions:

1. What is the study period of the market?
Ans. The Global Smartphone Security Market is studied from 2017-2029.

2. What is the growth rate of Smartphone Security Market?
Ans. The Global Smartphone Security Market is growing at a CAGR of 39.8% over forecast period.

3. Which region has largest share in The Global Smartphone Security Market?
Ans. North America holds the largest share.

4. What is the Global Smartphone Security Market segment based on Ownership?
Ans. Based on Ownership, Consumer, Enterprise.

5. Who are the key players in the Global Smartphone Security Market?
Ans. The key players in the Global Smartphone Security Market are Ahnlab Inc, Avast Software A.S, Bitdefender Llc, Certicom Corporation, Eset, Spol.S.R.O. Juniper Networks Inc
Mcafee Inc, Lookout Inc, Trend Micro Inc, F-Secure Corporation, Netqin Mobile Inc, Quick Heal Technologies(P) Ltd, Panda Security S.L, Columbitech AB, Symantec, Sybase Inc, Hauri Inc
Sophos Ltd, Kaspersky Lab.