Phone Security Software Market Challenges with Covid-19 on Growth Forecast to 2027
As per the analysis by Market Research Future Reports (MRFR), the global Phone Security Software Market is estimated to grow from USD 10.50 billion in 2017 to USD 48.85 billion by 2023 at a CAGR of 29.55% during the review period.
The essential factor booming the global mobile security market 2020 is the increasing concern of protecting data on enterprise mobile devices. The rise in the usage of mobile phones for banking and e-commerce has made it crucial for the deployment of security software in mobile devices. The need to adhere to security parameters and to increase the adoption of two-factor authentication are some other crucial factors bringing an impact on the growth of the market. The rising adoption of cloud-based technology is likely to propel the market during the review period. The increasing penetration of smartphones has motivated may regional, global, and local companies to develop mobile security software. The growing trend of Bring Your Own Device (BYOD) has propelled the market exponentially. However, increasing cyber-attacks is the biggest hurdle faced by the developers of security solutions. Moreover, pirated, and free mobile security can be procured easily, which hampers the growth of the market.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Mobile security market ’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Mobile security market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Mobile security market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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The forefront players of the global worldwide mobile security market are Honeywell International Inc. (U.S.), IBM Corporation (U.S.), ABB Ltd (Switzerland), Schneider Electric (France), Cisco Systems, Dell In, Rockwell Automation (U.S.), Bayshore Networks (U.S.), Symantec Corporation (U.S.), Kaspersky Labs (Russia), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google Inc. (U.S.), AVG Technologies (Netherlands), Kaspersky Lab (Russia), Intel security group (U.S.), Apple Inc. (U.S.), Verizon Communication Inc. (U.S.), AT&T Inc. (U.S.), and a few more.
The mobile security market is classified on the basis of end-user, operating system, solution, deployment, and region.
Based on end-user, the market is segregated into retail, individual users, and financial institutions.
On the operating system, the market is segregated into windows, iOS, android, blackberry, and others.
Based on the solution, the market is segregated into the firewall, multi-factor authentication, mobile data protection, data encryption, and mobile application management.
Based on deployment, the market is segregated into on-premises and cloud.
Based on region, the market is segregated into Europe, America, Asia-Pacific, and the Rest of the World (RoW).
The geographical analysis of Europe, America, Asia-Pacific, and the Rest of the World (ROW) has been performed. North America is reigning the global worldwide mobile security market. The North American market acquires the maximum market share. The second position is attained by Europe since the developed countries like Germany, U.S, France, UK, and Canada are the quick adopters of innovative technologies. Moreover, the European region consists of significant, established mobile security software vendors and service providers. The Asia Pacific region is anticipated to be the fastest expanding region due to the establishment of consumer electronics manufacturers and I.T. hubs. Moreover, the increasing adoption of mobile security software by SMEs and enterprises in the APAC region is an additional essential factor in expanding the market. The MEA and Latin American markets are anticipated to exhibit significant growth during the review period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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