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Mobile security market to boom at a CAGR of 47.2%

Press Release   •   Jun 21, 2013 11:50 BST

The mobile security market has been forecast to increase at a compound annual growth rate (CAGR) of 47.21% through to 2016, driven by the growing popularity of smartphones and tablets along with the increased adoption of bring your own device policy.

One of the major drivers in this market is the growing popularity of smartphones and tablets. The shipment of smartphones and tablets has increased significantly over the years. Along with the growing network infrastructure and mobile connectivity, the use of mobile devices for personal and professional use is expected to increase.

When it comes to mobile security, the single most important thing a mobile phone owner can do is lock the device with a unique, four-digit PIN.

Microsoft found in a global online survey conducted last year with more than 10,000 desktop and mobile participants from 20 countries that just 28% said they use a PIN on a device, a number that increased to 37% in the U.S. (with 540 participants).

Real threats to mobile devices are active in the wild, pushing mobile security top of mind for enterprises and consumers looking to manage and protect the data and applications on their mobile devices.

When it comes to protecting the enterprise, IT departments are looking beyond the basic, simple security applications, the firm found, with the demand for specialised services beginning to drive the market. In particular, ABI found that network security, managed security and professional services are set to become the biggest categories for business-to-business mobile security.

Increasingly complex malware is taking advantage of a wider range of mobile functionalities to exploit vulnerabilities on the device and in the network. And, organisations allowing BYOD policies and without proper mobile device management capabilities are at great risk from covert interception and corruption.

Over the next five years, we anticipate that over seven billion new smartphones and tablets will ship worldwide, racketing up hackers' interest in mobile devices.

Today's phones already enable contactless payments, mobile wallets and mobile banking, and these changes signal the need for secure services that can be performed wirelessly or with a smartphone. And as smartphones, tablets and other mobile devices continue to proliferate and provide users with powerful, mobile, networked multimedia computing options, the need to secure them will become even greater.

For more information on the mobile security market, see the latest research: Mobile Security Market

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