Coming a long way from its inception, mobile technology has evolved in a short span of time and devices such as smartphones have effectively penetrated consumer lifestyles. However, their prevalence in our lives and our growing dependency on them has raised concerns of securing such devices from threats. Consumers should be aware of the fact that their smartphones and tablets are exposed to a range of threats that can hamper the functioning of these devices, render them useless, and even damage the consumer lifestyle by hacking through their personal data.
Transparency Market Research has addressed several such factors influencing the growing demand for consumer mobile security app, in its exclusive market study. According to this report, the global consumer mobile security app market is anticipated to expand robustly at a CAGR of 16.2%, reaching a valuation of nearly US$ 12.9 Bn by the end of the forecast period, 2017-2026. Increasing incidence of cyber-attacks and growing integration of smartphones in professional lives has compelled the consumers to install mobile security app in these devices. The report has also profiled leading developers of consumer mobile security app in the global market. A majority of consumer mobile security app developers around the world are anticipated to focus on dissolving loopholes caused by cloud technologies, which make security breach easier for hackers. Companies namely, Symantec, VMWare Airwatch, TrendMicro, Norton, TrustGo, McAfee, Sophos, AT&T, Webroot, and ZoneAlarm are anticipated to remain active in the expansion of the global consumer mobile security app market through 2026.
Key findings from the report reveal that the global consumer mobile security app market will incur a majority of its revenues from integrated apps. While standalone apps continue to face compatibility issues and installation complexities, consumers will continue to opt for devices integrated with mobile security applications. This has also increased the partnerships between app developers and smartphone makers. In 2017, over US$ 2.6 Bn worth of integrated consumer mobile security apps are expected to be sold in the global market.
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The report has also revealed that a majority of these apps will be used to facilitate security to devices working on Android operating system. In terms of revenues, Android operating systems are estimated to account for nearly US$ 6.8 Bn in the global market by 2026-end. iOS will be observed as the second-leading operating system in the global consumer mobile security app market, registering fastest revenue growth at a CAGR of 20.5 during the forecast period.
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In terms of geographies, the adoption of consumer mobile security apps is the highest in the US and Canada. Tech-savvy consumers in these countries are factoring growing sales of consumer mobile security apps in North America. In 2017 and beyond, North America will continue to be recognized as the largest market for consumer mobile security app in the world. Regions such as Europe and the Asia-Pacific excluding Japan (APEJ) are also expected to be at the forefront of global expansion of the consumer mobile security app market. Meanwhile, their adoption in developing regions such as Latin America and Middle East & Africa will continue to witness steady traction. Japan’s consumer mobile security app market, on the other hand, will incur healthy growth at an estimated CAGR of over 15%.