The global mobile security market size is anticipated to reach $30,8-billion by 2030 with a projected CAGR of 20,5% from 2024 to 2030, according to a new report by Grand View Research.

Increase in the adoption of smartphones, tablets, laptops, and other portable devices both for personal and professional use is a key factor driving the market. Further, the rise in the bring-your-own-device (BYOD) trend among enterprises has increased security challenges both for organisations and employees.

As a result, the adoption of mobile unified endpoint security products that include firewall tools, antivirus and malware protection solutions, organisation size security solutions, and mobile device management solutions increased among businesses.

The market continues to grow with the evolving mobile device landscape and secured mobile operating system (OS) patches. Currently, mobile OS are increasingly embedding security patches and tools to reduce the download of third-party vulnerable apps.

Furthermore, the increase in mobile malware attacks from third-party ads is the other factor that is responsible for the mobile security market growth.

Increasing access to third-party mobile apps and websites expose security challenges to businesses. The rise in the trend for BYOD practices in corporations and government organisations allow employees to use their mobile devices to download third-party apps to improve productivity.

These third-party apps are more vulnerable and offer a weak link in an enterprise security ecosystem. This, in turn, allows threat actors to break into the company network space easily and impacts business productivity.

Furthermore, organisations often outsource their secondary activities such as mobile marketing and mobile transaction processing to third-parties which impose a high risk of data breaches. As a result, organisations adopt mobile security solutions to secure their development projects and third-party breaches, thus driving mobile security market growth.

Additional highlights of the mobile security market report include:

* Based on the component, the services segment is anticipated to register the fastest CAGR during the forecast period in the smart infrastructure market. This mobile security service segment ensures the mobile security software functions properly throughout the entire process.

* Based on the solution, the data security and encryption segment is expected to grow at a significant CAGR in the forecast period. Data and mobile device security is more crucial due to the rise in remote work. Therefore, it’s critical to confirm the encryption status of the device and provide proof of compliance.

*Based on the services, the managed services segment is anticipated to register a faster CAGR during the forecast period. The managed services for mobile devices provide users the flexibility they need to be more productive without compromising mobile security.

* Based on the operating system, the iOS segment is anticipated to register a faster CAGR during the forecast period. The iOS is in demand in developed countries and is starting to pick up steam in developing countries. Due to the high brand value of phones like iPhones, consumers in emerging markets are becoming more willing to spend more money on them due to better security features. This is driving the market growth of the segment.

* Based on the deployment, the cloud segment is anticipated to register the fastest CAGR during the forecast period. Cloud mobile security is a set of guidelines, protocols, and controls that help businesses protect apps and data in shared cloud environments.

* Based on the enterprise size, the small and medium enterprises (SME) segment is anticipated to register the fastest CAGR over the forecast period. Cyberattacks in SMEs are becoming more frequent. As a result of the quick adoption of new technologies and the increase in hybrid work, end users in SME business sectors are observed to be investing in application security applications.

* Based on the end-use, the BFSI segment is anticipated to register a faster CAGR during the forecast period. Mobile security solutions find security threats in applications to protect them from threats and vulnerabilities. Mobile security solutions adhere to laws like the Federal Information Security Management Act (FISMA), Sarbanes-Oxley (SOX), and PCI Security Standards Council (PCI SSC) thus driving the market growth of the segment.

* The Asia Pacific region is expected to grow at a faster CAGR in the forecast period. The market for mobile security is led by the Asia Pacific region because of the region’s large smartphone user base and developing digital economy. The adoption of advanced security solutions is fueled by a strong demand for data protection and an increase in mobile malware incidents which, in turn, is driving market growth in this region.

* In August 2023 mobile security application provider,, launched a new version of AppProtectt – a mobile app security platform (XDR). The new feature is anticipated to enable more comprehensive threat detection and response potentially providing RunTime mobile app security. It is anticipated that the updated AppProtectt XDR Platform version will offer complete fraud control, regulatory compliance, mobile app security, and a live threat dashboard to safeguard users.