Mobile Security Market Size

This can be attributed to the growing adoption of third party applications.

Mobile security market size.

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. The global mobile security market is estimated to reach about usd 7 1 billion between 2020 to 2024 in the market increasing numbers of mobile phone users and adoption of third party applications will help in development of this sector. Market synopsis worldwide mobile security market is expected to grow from usd 10 50 billion in 2017 to usd 48 85 billion by 2023 at a compound annual growth rate cagr of 29 55 during the forecast period. The global mobile security market size is expected to attain a market size of 73 5 billion by 2022 growing at a cagr of 46 6 during the forecast period.

Also the increasing cases of data theft and breaches are driving the global mobile security market growth. Rapid technological developments in the mobile device smartphone tablet and laptops market have been witnessed in the last decade whether in storage performance application capability. The global mobile security market is likely to witness massive growth due to major factors like rising smartphone penetration increasing number of mobile frauds growing awareness related to data protection of mobile devices utilized at workplace and surging usage of third party applications. The global mobile security market size stood at usd 34 94 billion in 2019 and is projected to reach usd 103 45 billion by 2027 exhibiting a cagr of 14 6 during the forecast period.