(MENAFN – GetNews) As per Triton’s report, the global mobile security market acquired $3510.48 million in 2020, and is predicted to advance at a CAGR of 14.35% by 2028.
A recent study by Triton Market Research titled ‘Global Mobile Security Market’ includes the Global Analysis and Forecasts by Industrial Vertical (Government & Defense, Healthcare, IT & Telecom, BFSI, Retail & E-commerce, Others), Operating System (Android, iOS, Others), End-user (Enterprises, Individual), Enterprise Solution Type (Mobile Application Management, Authentication, Mobile Data Protection, Others), Organization Size (Large Enterprises, SMEs), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
Mobile security entails the protection of mobile devices from several risks, including unauthorized access, identity theft, and malware, among others. These solutions find applications in several industries, such as healthcare, BFSI, and e-commerce, to help delete apps that can harm users’ confidentiality.
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Triton’s research report denotes that the global mobile security market is anticipated to grow at a CAGR of 14.35% in revenue during the considered years 2021-2028. The market is estimated to garner revenue worth $8444.99 million by 2028.
The rising number of mobile payments, growing need for security due to the adoption of BYOD in workplaces, and surge in need to provide security to video streaming content, are significant elements driving the growth of the mobile security market. For instance, more companies are adopting the BYOD trend, creating an efficient workplace for employees. Here, the employees use the company network during work hours, but also outside the workplace. This further increases the need for ensuring the security of corporate data, influencing the deployment of efficient mobile security solutions. However, the elevated cost of mobile security solutions, complexity in designing embedded security solutions, and the dearth of awareness, are factors hampering the growth of the studied market.
The market for mobile security is…