Global Industry Analysts, Inc. (GIA) announced the release of a comprehensive global report on smartphone security software market. The global market for smartphone security software is projected to reach $2.99 billion by 2017, primarily driven by increasing sale of smartphones across the globe, increasing use of smartphones for accessing Internet and corporate networks, and the resulting rise in data security concerns among smartphone users. Robust demand from Asia-Pacific market also augurs for the future of this market.
The research report titled “Smartphone Security Software: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., states that with smartphones turning into a repository of sensitive personal and business information, the recent spurt in number of cases relating to loss or theft of smartphones, heightens fears over data loss/breach.
As smartphones lean further towards data communications, fears over possible data breaches via malicious applications spread over mobile Internet, and the misuse of sensitive information becomes more imminent, which calls for adoption of efficient smartphone security procedures and technologies.
With most of the traditional smartphone security methods adopted by users, such as ensuring physical security against damage/loss/theft of device, checking for reliability of software to be downloaded, and validating permission requests while installing/using applications, proving to be just proactive preventive measures and failing to make these devices impermeable to sophisticated attacks, smartphone security software has proved to be the industry’s only answer to its information security woes.
Protecting Smartphones: A Permanent Fixture
From being just another means of protecting smartphones from unauthorized access, smartphone security software has come a long way to become one of the permanent fixtures for information security in an enterprise.
Opportunities for smartphone security software market in the consumer segment will be primarily driven by growing risk to personal information stored within smartphones, as a result of their increased use for accessing mobile Internet, carrying out online shopping, accessing social networking sites, and downloading applications from application stores.
Increase in number of application downloads across the globe especially is proving to be a major growth driver for smartphone security software as most of these applications downloaded are sourced from application stores, and file sharing websites, which are primary sources of malware and other malicious mobile applications.
Demand for smartphone security software from the enterprise segment on the other hand, will be primarily driven by increasing use of smartphones for corporate communications, and the resulting rise in enterprise need for compliancy, information security, network security, cost management and patch management.
Of late, smartphone security software has become a significant revenue generator for vendors due to heightened perceived data security threat among smartphone users. With only about 23% of smartphone users having enabled security software, the smartphone security software market is laden with immense potential.
As smartphone sales increase further, the demand for smartphone security software too will increase rapidly over the next few years. Changing nature of modern-day criminal offences in the form of online fraud, identity theft, and internet related crimes, will also throw the spotlight on the need for technologically advanced information security solutions, thus creating substantial demand for smartphone security software over the next few years.
Asia-Pacific Fastest Growing Regional Market
As stated by the new market research report on Smartphone Security Software, Europe is the largest regional market. Asia-Pacific is the fastest growing regional market, with revenues from the region waxing at a CAGR of about 49.5% over the analysis period. Growth in the Asia-Pacific smartphone security software market is primarily driven by robust demand for smartphones in emerging countries such as China and India.
Major players in the marketplace include Airscanner USA, AVG Technologies, Birdstep Technology ASA, BullGuard Ltd., Columbitech AB, ESET, F-Secure Corporation, Good Technology Inc., SMobile Systems Inc., Kaspersky Lab, Lookout Inc, McAfee Inc., Certicom Corp., Symantec Corporation, Trend Micro Incorporated, Wavelink Corporation, among others.
