The global mobile security market size is expected to grow from USD 3.0 billion in 2019 to USD 7.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. The increasing adoption of Bring Your Own Devices (BYODs) among enterprises is one of the major drivers of the mobile security market growth.
Major mobile security vendors include Microsoft (US), CrowdStrike (US), Symantec (US), Trend Micro (Japan), Sophos (UK), McAfee (US), Kaspersky (Russia), VMware (US), IBM (US), ESET (Slovakia), BlackBerry (Canada), MobileIron (US), Samsung (South Korea), F-Secure (Finland), Check Point (Israel), Panda Security (Spain), Bitdefender (Romania), OneSpan (US), Quick Heal (India), Fortinet (US), Citrix Systems (US), Webroot (US), Keeper Security (US), Amtel (US), and Codeproof (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global mobile security market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2017 to 2019, which has helped them innovate their product offerings and broaden their customer base.
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Microsoft offers Microsoft Endpoint Manager for the protection of mobile devices. Microsoft offers its mobile security solutions through an integrated management solution. This integrated platform is a combination of enterprise mobility and security capabilities. The platform helps protect and secure enterprises, thus providing the flexibility of working remotely using enterprise mobility management and BYOD security. The company caters to a wide range of industry verticals, including finance and insurance, manufacturing and retail, media and entertainment, public sector, healthcare, and Information Technology (IT) and telecommunications. The company adopts a mix of organic and inorganic growth strategies to strengthen its market position. In November 2019, Microsoft launched the Endpoint Manager, which includes the capabilities of both Configuration Manager and Intune, along with additional Microsoft services and products. Endpoint Manager enables enterprises to manage a large number of devices used by their employees. In June 2017, Microsoft acquired Hexadite, a provider of automatic incident investigation and remediation solutions, to help organizations secure their businesses from cyberattacks.
IBM operates through various business operation segments, such as services, financing, hardware, software, technology, and research, where the services segment contributes the maximum to improve the company’s customer performance with major focus on IT. IBM moved its developments from experimental-based to hybrid cloud-based Artificial Intelligence (AI)-driven applications that focus on digital reinvention. The company has a broad range of products that work on analytics, cloud, blockchain, Internet of Things (IoT), and Watson platforms. This wide product portfolio majorly focuses on improving product efficiency. In the mobile security market, IBM offers secure mobile solutions within its Unified Endpoint Management (UEM) solutions. These solutions include Mobile Device Management (MDM) and Enterprise Mobility Management (EMM), along with IBM Watson delivering AI-based, cloud-centric, and integrated mobile security platform. The company focuses on organic growth strategies for growth. In October 2018, IBM introduced a new cloud-based community platform for cybersecurity applications. IBM Security Connect is the industry's first security cloud platform, built on AI-centric open-federated technologies to analyze data security across unconnected tools and environments. In August 2018, IBM launched X-Force Red Labs, a network of four secure facilities, dedicated for testing security devices and systems. These devices include Industrial IoT (IIoT) technologies, automotive equipment, and Automated Teller Machines (ATMs).
Mobile Security Market by End User (Individual and Enterprise (Solution (Authentication, Application Security, & Device Security), Service, Deployment Mode, Organization Size, Vertical), Operating System (IOS & Android), & Region - Global Forecast to 2024
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