Mobile application security focuses on the software security status of mobile apps on various platforms such as Android, iOS, and Windows Phone. This Includes applications that run on both mobile phones and tablets. It involves securing the application code, data, and the underlying infrastructure to ensure the confidentiality, integrity, and availability of the application and its associated data. A comprehensive mobile app security strategy Includes technological solutions, such as mobile app shielding as well as best practices for use and corporate processes.
The growth of the global mobile application security is majorly driven by rise in demand for security solutions to offer protection against web-based malware. Web-based malware attacks can lead to compromised user devices and stolen personal information, which Increases trust issues among users pertaining to websites and online services. The loss of user trust can have a severe impact on businesses, resulting in customer attrition and reputational damage. By implementing robust security solutions against web-based malware, organizations can demonstrate their commitment to protect user data and maintain a strong reputation. In addition, government initiatives for digitization, Increase in penetration of digital transaction apps, and surge in adoption of bring your own device (BYOD) policies are the major factors driving the market growth. However, high cost of mobile application security solutions acts as the key deterrent of the global market. In addition, budget constraint among small and medium enterprises (SMEs) makes it difficult for these organizations to allocate sufficient resources to invest in comprehensive security measures. As a result, they may prioritize other business needs over mobile application security, thus limiting the adoption expensive mobile application security solutions. Contrarily, Increase in usage of machine learning and artificial intelligence in mobile security applications is expected to offer remunerative opportunities for the expansion of the mobile application security market during the forecast period. Machine learning and artificial intelligence enable advanced threat detection capabilities and improve mobile security. In addition, these technologies analyze massive volume of data to identify patterns and anomalies that can indicate potential security breaches or malicious activities.
The global mobile application security market is segmented into component, operating system, enterprise size, industry vertical, and region. On the basis of component, the market is bifurcated into solution and service. By operating system, it is categorized into android, iOS, and windows. Depending on enterprise size, it is segregated into large enterprise and small- & medium-size enterprises. By industry vertical, it is fragmented into BFSI, IT & telecom, retail, healthcare, government, education, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
The growth of the global mobile application security is majorly driven by rise in demand for security solutions to offer protection against web-based malware. Web-based malware attacks can lead to compromised user devices and stolen personal information, which Increases trust issues among users pertaining to websites and online services. The loss of user trust can have a severe impact on businesses, resulting in customer attrition and reputational damage. By implementing robust security solutions against web-based malware, organizations can demonstrate their commitment to protect user data and maintain a strong reputation. In addition, government initiatives for digitization, Increase in penetration of digital transaction apps, and surge in adoption of bring your own device (BYOD) policies are the major factors driving the market growth. However, high cost of mobile application security solutions acts as the key deterrent of the global market. In addition, budget constraint among small and medium enterprises (SMEs) makes it difficult for these organizations to allocate sufficient resources to invest in comprehensive security measures. As a result, they may prioritize other business needs over mobile application security, thus limiting the adoption expensive mobile application security solutions. Contrarily, Increase in usage of machine learning and artificial intelligence in mobile security applications is expected to offer remunerative opportunities for the expansion of the mobile application security market during the forecast period. Machine learning and artificial intelligence enable advanced threat detection capabilities and improve mobile security. In addition, these technologies analyze massive volume of data to identify patterns and anomalies that can indicate potential security breaches or malicious activities.
The global mobile application security market is segmented into component, operating system, enterprise size, industry vertical, and region. On the basis of component, the market is bifurcated into solution and service. By operating system, it is categorized into android, iOS, and windows. Depending on enterprise size, it is segregated into large enterprise and small- & medium-size enterprises. By industry vertical, it is fragmented into BFSI, IT & telecom, retail, healthcare, government, education, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the global mobile application security market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global mobile application security market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global mobile application security market from 2022 to 2032 is provided to determine the market potential.
Key Market Segments
By Component
- Solution
- Service
By Operating System
- Android
- iOS
- Others
By Enterprise Size
- Large Enterprise
- Small and Medium-size Enterprise
By Industry Vertical
- BFSI
- IT and Telecom
- Retail
- Healthcare
- Government
- Education
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Cisco Systems, Inc.
- F5, Inc.
- Fortify (Open Text)
- GitLab B.V.
- HCL Technologies Limited
- IBM Corporation
- Oracle
- Pradeo
- Synopsys, Inc.
- VMware, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MOBILE APPLICATION SECURITY MARKET, BY COMPONENT
CHAPTER 5: MOBILE APPLICATION SECURITY MARKET, BY OPERATING SYSTEM
CHAPTER 6: MOBILE APPLICATION SECURITY MARKET, BY ENTERPRISE SIZE
CHAPTER 7: MOBILE APPLICATION SECURITY MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: MOBILE APPLICATION SECURITY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Mobile Application Security Market,' The mobile application security market was valued at $3.7 billion in 2022, and is estimated to reach $37.1 billion by 2032, growing at a CAGR of 26.3% from 2023 to 2032.The Mobile Application Security Market is likely to experience a significant growth rate of 26.3% from 2022-2032 owing to increasing market demand for Android application system.
Mobile application security refers to solutions designed and developed to protect applications from external threats such as malware and other digital fraud that compromise sensitive personal and financial information for hackers. A mobile security breach can give hackers real-time access to users' personal information, exposing a variety of data, including location, banking information, and personal information. Mobile application security solutions are designed for multiple platforms such as Android, iOS, and Windows and can run on mobile phones and tablets. A comprehensive mobile app security strategy includes technological solutions, such as mobile app shielding as well as best practices for use and corporate processes.
Increase in government initiatives for digitization and rise in penetration of digital transaction apps act as the key driving forces of the mobile application security market. The volume of mobile transactions has increased significantly as governments are encouraging digital transactions through various initiatives. This growing reliance on mobile applications for financial transactions has increased the demand for robust security solutions to protect sensitive financial data, prevent fraud, and ensure secure transactions. All these features are driving the growth of mobile application security market. In addition, rise in demand for security solutions to offer protection against web based malware helps to fuel the growth of the mobile application security market. Furthermore, malware attacks are constantly evolving in terms of their techniques and capabilities. Attackers leverage new attack vectors and exploit vulnerabilities in web browsers, plugins, and web technologies. This dynamic nature of web-based malware necessitates the use of advanced security solutions that can stay ahead of emerging threats and provide robust protection, which escalates the growth of the market. However, the complexity of designing embedded security solutions is a major factor hampering the growth of the market. Embedded security solutions are complex to design and can be expensive to develop. Developing and integrating robust security measures into mobile applications requires expertise and resources. Hiring security experts, conducting security assessments, implementing cryptographic mechanisms, and ensuring standards compliance can be costly. In addition, organizations, especially small and medium enterprises (SMEs), often have limited budgets for security measures. High cost of mobile application security solutions make it difficult for these organizations to allocate sufficient resources to invest in comprehensive security measures.
The market also offers growth opportunities to the key players in the market. Rise in usage of machine learning and artificial intelligence in mobile security application presents a significant opportunity for the mobile application security industry. Machine learning and artificial intelligence techniques enable advanced threat detection capabilities and improve mobile security. These technologies analyze massive volume of data to identify patterns and anomalies that can indicate potential security breaches or malicious activities. ML algorithms can learn from historical data to detect new and evolving threats and improve the accuracy and efficiency of real-time threat detection. Therefore, rise in presents a significant usage of machine learning and artificial intelligence in mobile security application presents opportunity for the expansion of the global mobile application security market during the forecast period.
The mobile application security market is segmented into component, operating system, enterprise size, industry vertical, and region. On the basis of component, the market is bifurcated into solution and service. By operating system, it is bifurcated into Android, iOS, and Windows. Depending on enterprise size, it is segregated into large enterprise and small and medium-size enterprise. By industry vertical, it is fragmented into BFSI, IT & telecom, retail, healthcare, government, education, and others. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study are GitLab B.V., pradeo, IBM Corporation, Oracle, Cisco Systems, Inc., HCL Technologies Limited, Fortify (Open Text), Synopsys, Inc., VMware, Inc., and F5, Inc. The players in the market have been actively engaged in the adoption various strategies such as collaboration, product launch, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in For instance, in June 2023, Appknox, a leading provider of cutting-edge mobile app security solutions, announced its partnership with Bitshield Data Defense Sdn.Bhd., a renowned cybersecurity company based in Malaysia. This significant collaboration represented a significant milestone in advancing mobile application security, effectively addressing the growing demand for robust protection against emerging threats. This partnership combines Appknox's expertise in mobile application security with Bitshield's extensive reputation and reach in Malaysia for cybersecurity, creating a formidable alliance that aims to revolutionize the mobile app security landscape in Malaysia. Therefore, such strategies will promote the growth of the mobile application security market.
Key Market Insights
- By component, the solution segment was the highest revenue contributor to the market, and is estimated to reach $22845.23 million by 2032, with a CAGR of 25.1%. However, the service segment is estimated to be the fastest growing segment with the CAGR of 28.4% during the forecast period.
- By operating system, the android segment dominated the global market, and is estimated to reach $19284.58 million by 2032, with a CAGR of 24.2%. However, the iOS segment is expected to be the fastest growing segment with the CAGR of 29.2% during the forecast period.
- By enterprise size, the large enterprise segment dominated the global market, and is estimated to reach $21103.84 million by 2032, with a CAGR of 24.8%. However, the small and medium-size enterprise segment is expected to be the fastest growing segment with the CAGR of 28.6% during the forecast period.
- By industry vertical, the BFSI segment dominated the global market, and is estimated to reach $6821.19 million by 2032, with a CAGR of 20.3%. However, the education segment is expected to be the fastest growing segment with the CAGR of 31.9% during the forecast period.
- Based on region, North America was the highest revenue contributor, accounting for $1322.74 million in 2022, and is estimated to reach $8687.07 million by 2032, with a CAGR of 20.9%.
Companies Mentioned
- Cisco Systems, Inc.
- F5, Inc.
- Fortify (Open Text)
- GitLab B.V.
- HCL Technologies Limited
- IBM Corporation
- Oracle
- Pradeo
- Synopsys, Inc.
- VMware, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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