Mobile Security Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Operating System(iOS, macOS, roid, Windows), By Vertical(BFSI, IT & Telecom, Healthcare, Manufacturing), By Region - Industry Forecast 2024-2031

Mobile Security Market size was valued at USD 6.16 billion in 2019 and is poised to grow from USD 14.4 billion in 2023 to USD 22.1 billion by 2031, growing at a CAGR of 21.1% in the forecast period (2024-2031).

The increasing adoption of smartphones across the globe is improving the demand for mobile security in the market. According to SkyQuest analysis, nearly 63% of the world’s population uses the internet. The trend is likely to continue over the coming years, resulting in a growing number of data breaches and cyberattacks. mobile security solutions are extensively used to protect the data in these devices through cyberattacks. Hence, end-users are increasing the adoption of mobile security solutions and services worldwide. Further, implementation of mobile security solutions such as mobile threat management, enterprise, data security and encryption, and others are gaining immense traction. On account of this, end-users such as the BFSI sector, manufacturing companies, and IT giants are increasing the adoption of mobile security solutions. Subsequently, the advent of e-commerce platforms and growing online mobile transactions are pushing sales in the mobile security market. The unprecedented outbreak of COVID-19 further pushed the demand for these solutions as the preference for digital payments surged. Hence, to protect the data and to improve the efficiency of these solutions as well as mobile payment-based applications, the adoption of these mobile security solutions and services increased.

The proliferation of work from home and remote operations in retail and other industries facilitated the adoption and the trend is likely to continue over the upcoming decade. To capitalize on this surging trend, key players are focusing on introducing advanced solutions compatible with android as well as iOS users. For instance, in July 2021, Adaptive Mobile Security, unveiled its new trio of interconnected 5G security platforms to protect against the external and internal security threats to the 5G infrastructure. A slew of such developments is expected to boost the Mobile Security Market through 2022 & beyond.

US Mobile Security Market is poised to grow at a sustainable CAGR for the next forecast year.