According to the business intelligence report titled ‘GLOBAL Mobile Security Market 2021-2028’, available with Market Study Report, global mobile security market is anticipated to grow at a healthy compound annual growth rate of 14.35% during the analysis timeframe 2021-2028.
 

As per the report findings, rising demand for advanced data security solutions owing to evolution of the BYOD trends in workplaces, along with growing number of mobile payments are stimulating global mobile security market outlook.
 

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Additionally, rapid adoption of advanced technologies such as AI (artificial intelligence) and ML (machine learning) in mobile security applications coupled with escalating demand for video streaming content are positively swaying the market dynamics.
 

Despite the positive outlook of global mobile security market, complex designing processes for embedded security solutions, lack of cognizance regarding the importance of mobile data security, and high costs associated with the service will continue to barricade business development in the forthcoming years.
 

Based on enterprise solution type, the market is divided into mobile data protection, mobile application management, authentication, and others.
 

With regards to industry vertical, the business is bifurcated into government & defense, healthcare, retail & e-commerce, IT & telecom, and BFSI among others.
 

Speaking of the geographical reach, the overall market is fragmented into Europe, Latin America, Middle East & Africa, Asia-Pacific, and North America.
 

Among these, Asia-Pacific mobile security market is touted to amass substantial returns, while exhibiting the highest CAGR over the forecast period. The regional industry growth can largely be attributed to growing security concerns and rising adoption of mobile banking, predominantly in China.
 

Elaborating on competitive scenario, Samsung Electronics Co. Ltd., Panda Security, Broadcom Inc., Kaspersky Lab, Google LLC, IBM Corp., McAfee Corp., MobileIron Inc., Quick Heal Technologies Ltd., Trend Micro Inc., BlackBerry Ltd, VMware Inc., Citrix Systems Inc., Apple Inc., and Microsoft Corporation are the leading companies influencing worldwide mobile security market trends.