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Global Mobile Security Software Market’s Growth Shaped by Development of Mobile Banking Services

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Published on : Oct 20, 2016

ALBANY, NY, Oct 20, 2016: The report studies the global mobile security software market and presents a detailed overview of the market’s notable growth patterns, key driving and restraining factors, and leading players. The comprehensive overview presented in the report makes it a must-have accessory for players looking to enter or expand their operations in the mobile security software market. The report is titled ‘Global Mobile Security Software Market 2016-2020’ and is available for sale on the official website of ResearchMoz.us. According to the report, the market is expected to exhibit a sturdy 7.99% CAGR from 2016 to 2020.

Mobile security software encompasses a wide range of solutions aimed at particular aspects of mobile security. Automatic locking after a set amount of time, blocking unwanted calls and messages, and detecting and removing potential threats from a device are some of the well-known applications of mobile security software. While most handset and mobile OS developers include basic mobile security software in new devices and systems, several third-party players have joined the mobile security software market in the last few years due to the diverse applications of modern mobile phones.

The easy availability of 3G/4G connectivity on most modern smartphones has led to a growing use of mobile payments, which has made smartphones a key access point into the user’s virtual network. The increasing number of online shopping portals focusing on the growing mobile app user base has thus been a crucial driver for the mobile security software market.

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Several banks across the world have exploited the steady progress of the global telecommunications industry to start app-based services, which have become popular and are set to remain a key part of the BFSI sector in the coming years. This has been an important driver for the mobile security software market, as these apps allow direct access to the user’s finances and thus have considerable potential for harm if misused. 

The steady development of mobile-based finance has also led to the emergence of NFC-based cashless payments. NFC, or near field communication, has become a key technology in the mobile payment industry due to its convenience in facilitating cashless payments even in the absence of cards. Since mobile phones are carried by most users at all times, the convenience and safety of NFC payments has risen to the fore. This is likely to be a leading driver for the global mobile security software market in the coming years.

Regionally, the global mobile security software market is segmented into Asia Pacific, Europe, the Americas, and EMEA. North America and Western Europe are the leading contributors to the global mobile security software market, but are likely to be overtaken by Asia Pacific in the near future due to the booming consumer electronics industry in countries such as India, China, South Korea, and Japan.

The report also profiles leading players in the global mobile security software market in order to shed light on the market’s competitive dynamics. Key companies examined in the report include McAfee, Kaspersky Lab, Symantec, and AVG.

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