Increasing mobile internet usage is expected to drive the global smartphone security market growth over the forecast period. Rise in cyber crime threats and need for security has driven the smartphone security purchases considerably. The market is also expected to witness growth owing to increasing m-commerce usage, growing number of smartphone users and need for data protection. Further, the privacy-invading apps also offer avenues for market growth. Malware, ad libraries, and aggressive permissions complicate the digital experience, and drive the demand for smartphone security solutions.
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Malware collects data from several apps and tasks the consumers are use, in addition to phone and SIM card numbers, making smartphone security adoption of paramount importance. However, availability of open source solution and high cost of deployment may hamper market growth. Further, lack of awareness & intricate nature of system integration may pose a challenge to the smartphone security market growth over the forecast period. Increased adoption of cloud-based solutions and growing trend towards Bring-Your-Own-Device (BYOD) may offer avenues for market growth over the forecast period.
Asia Pacific smartphone security market is expected to exhibit high growth over the forecast period owing to robust demand for mobile devices in regions including China and India. Key players in smartphone security market include Kaspersky Lab, McAfee, Lookout Inc., BullGuard, Apple Inc, AVG Technologies, Good Technology and MobileIron. Industry participants focus on offering innovative solutions such as cyber attack defence engine, immune to evasion techniques and early warning threat detection system to niche market as part of their growth strategy.
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