Mobile Device Security Global Market to Double Value in 5 Years

BCC Research Estimates $37 billion at 14.7% CAGR by 2022

Wellesley Hills, Massachusetts, UNITED STATES


WELLESLEY, Mass., Nov. 21, 2017 (GLOBE NEWSWIRE) -- As mobile devices have become ubiquitous, so have the threats to them, such as data loss, unauthorized access, data leaks and fraudulent transactions. Emerging software and hardware solutions are combatting these challenges, including antivirus and mobile malware detection, mobile device management, mobile security gateways and encrypted mobile data.

In a new report, Mobile Device Security: Global Markets to 2022, BCC Research estimates the mobile device security market will grow from $18.6 billion in 2017 to $37.0 billion in 2022 at a 14.7% CAGR. Two key market drivers are hindering possible solutions to enhancing mobile device security: the sheer number of mobile devices and their increasing technological complexity. By 2020, almost six billion mobile subscribers—or 72% of the world population—are predicted to use one or more devices. Also, the devices are becoming more sophisticated, equaling the production of an internet browser on a desktop or laptop system. 

Research Highlights

  • Mobile device security is a race between the hackers on one hand, and the vendors and end-users on the other hand.
  • Primarily, mobile device security is a software market. Once devices are released into the market, there is little that manufacturers can do to increase the security capabilities of the hardware.
  • Software technology as a segment should double from $12.6 billion in 2017 to $25.6 billion by 2022, although hardware is expected to have a slightly higher growth rate of 16.2%.

“Security needs to be introduced in the design phase through both hardware and software solutions,” said Michael Sullivan, BCC Research senior editor. “Moreover, the security should be designed using IT and network models that are typical of endpoint clients, which will enable the IT department to apply consistent security strategies across the facility and remote device footprint. Market investments will come from all parts of the ecosystem, including payers, providers and device manufacturers. The goal is to implement layers of security solutions that enforce a coherent policy from the device central processing unit to the application software.”

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Mobile Device Security: Global Markets to 2022. (IFT146A)

Publish Date: Nov 2017  

 

About BCC Research

BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.


        

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