The global smartphone security market has been witnessing significant growth within the corporate sector. Increasing smartphone penetration for corporate communications has resulted in overall market growth. Mobile security has become an integral part of security software market. Smartphone security software is expected to become a significant revenue generator for vendors owing to heightened perceived data security threat among smartphone users. Mobile malware risks with frequent threats such as Trojans and AdWare remains potent driving demand for adoption of efficient smartphone technologies and producers.
Increase in number of application downloads, social networking sites, e-ticketing and online shopping are some of factors contributing to rising security measures in the smartphone industry. In addition, decreasing smartphone prices with rising personal disposable income is expected to propel smartphone security market growth. Cloud computing has also led to the development of the cloud security software market. Cloud computing involves a large group of remote servers that are networked to allow the sharing of resources and data. However, lack of awareness about smartphone security among security software distributors and end-users may hamper market growth over the forecast period.
The smartphone security market can be segmented on the basis of operating systems into Android, Windows, iOS and Blackberry. Based on security features, the market segmentation includes data encryption, anti-theft, anti-virus and others. The others sub-segment includes parental control, privacy audit, anti-spam, anti-spyware and anti-malware. On the basis of application, the market can be bifurcated into business and personal users. Europe is expected to be the dominant market segment through the forecast period. Asia Pacific is estimated to exhibit high growth, primarily driven by robust smartphone demand in emerging markets such as India and China.
Major industry participants include Wavelink Corporation, Trend Micro Incorporated, Symantec Corporation, Certicom Corp, McAfee Inc., Lookout Inc, Kaspersky Lab, SMobile Systems Inc., Good Technology Inc., F-Secure Corporation, ESET, Columbitech AB, BullGuard Ltd. and AVG Technologies.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.