Mobile Security Market worth $7.2 billion by 2024

Mobile Security

According to a research report “Mobile Security Market by End User (Individual and Enterprise (Solution (Authentication, Application Security, & Device Security), Service, Deployment Mode, Organization Size, Vertical), Operating System (IOS & Android), & Region – Global Forecast to 2024”, published by MarketsandMarkets, the global mobile security market size is expected to grow from USD 3.0 billion in 2019 to USD 7.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. Major factors fueling the market growth are growing Bring Your Own Device (BYOD) trend in enterprises, and increasing mobile adoption around the world.

Microsoft offers Microsoft Endpoint Manager for the protection of mobile devices. Microsoft offers its mobile security solutions through an integrated management solution. This integrated platform is a combination of enterprise mobility and security capabilities. The platform helps protect and secure enterprises, thus providing the flexibility of working remotely using enterprise mobility management and BYOD security. The company caters to a wide range of industry verticals, including finance and insurance, manufacturing and retail, media and entertainment, public sector, healthcare, and Information Technology (IT) and telecommunications. The company adopts a mix of organic and inorganic growth strategies to strengthen its market position. In November 2019, Microsoft launched the Endpoint Manager, which includes the capabilities of both Configuration Manager and Intune, along with additional Microsoft services and products. Endpoint Manager enables enterprises to manage a large number of devices used by their employees. In June 2017, Microsoft acquired Hexadite, a provider of automatic incident investigation and remediation solutions, to help organizations secure their businesses from cyberattacks.

IBM operates through various business operation segments, such as services, financing, hardware, software, technology, and research, where the services segment contributes the maximum to improve the company’s customer performance with major focus on IT. IBM moved its developments from experimental-based to hybrid cloud-based Artificial Intelligence (AI)-driven applications that focus on digital reinvention. The company has a broad range of products that work on analytics, cloud, blockchain, Internet of Things (IoT), and Watson platforms. This wide product portfolio majorly focuses on improving product efficiency. In the mobile security market, IBM offers secure mobile solutions within its Unified Endpoint Management (UEM) solutions. These solutions include Mobile Device Management (MDM) and Enterprise Mobility Management (EMM), along with IBM Watson delivering AI-based, cloud-centric, and integrated mobile security platform. The company focuses on organic growth strategies for growth. In October 2018, IBM introduced a new cloud-based community platform for cybersecurity applications. IBM Security Connect is the industry’s first security cloud platform, built on AI-centric open-federated technologies to analyze data security across unconnected tools and environments. In August 2018, IBM launched X-Force Red Labs, a network of four secure facilities, dedicated for testing security devices and systems. These devices include Industrial IoT (IIoT) technologies, automotive equipment, and Automated Teller Machines (ATMs).


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