In a recent published report, Kenneth Research has updated the market report for Mobile Application Security Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mobile Application Security Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Mobile Application Security Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Mobile Application Security Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
The Global Mobile Application Security Market was valued at USD 1026.89 million in 2016 and is projected to reach USD 8196.29 million by 2025, growing at a CAGR of 25.96% from 2017 to 2025.
Mobile application security refers to a comprehensive security solution for mobile applications running on mobile devices such as smartphones and tablets. It is intended to protect personal or enterprise data stored in these devices. Mobile application security involves examining the structure of mobile applications and studying how they work, as well as looking at major threat areas and what hackers or other attackers want to accomplish. Mobile application security system provides encryption of data, sandboxing of applications, ensures transport layer security, and user authentication and authorization.
1. Market Drivers
1.1 Rising demand for SaaS-based application security solutions
1.2 Increasing demand for protection against web-based malware
1.3 Growing malware threats
1.4 Increasing demand for end-to-end security solutions
1.5 Growing internet usage
2. Market Restraints
2.1 Poor knowledge about application based malware threats
2.2 Costly application security solutions
2.3 Issues with acceptance in enterprise segment
The Global Mobile Application Security Market is segmented on the deployment mode, solution, organization size, vertical, and region.
1. By Deployment Mode:
2. By Solution:
2.1 Compliance management
2.2 Web security
2.3 Data backup and recovery
2.6 IAM and Authentication
3. Organization Size:
3.1 Large Enterprises
3.2 Small and Medium Organizations
4. By Vertical:
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.6 Aerospace and Defense
4.7 Media and Entertainment
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. VMWare (EMC)
2. Lookout, Inc.
3. Symantec Corporation
4. Airpatrol Corporation
5. Trend Micro
6. Kaspersky Lab
7. McAfee (Intel Security)
8. Avast Software S.R.O.
10. AVG Technologies
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Mobile Application Security Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team
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