Mobile Application Security Market Size - By Solution (Anti-Virus, Anti-Theft, Web Security, Data Backup & Recovery), Services (Managed, Professional), Enterprise Size (Large Enterprises, SME), Deployment Model, Industry Vertical & Forecast, 2024 - 2032

Mobile Application Security Market Size

Mobile Application Security Market size was valued at USD 5.2 billion in 2023 and is estimated to exhibit notable CAGR over 22% from 2024 to 2032. The growing shift towards agile development methodologies for faster release cycles in mobile apps will drive the market growth. The rising usage of mobile devices and apps has led to the surging development of high-quality and user-friendly mobile applications. According to Amity, around 230 billion apps were downloaded in 2021 alone. As a result, the growing popularity of agile methodologies over conventional approaches for mobile applications will drive the market size.
 

The growing adoption of mobile apps in IoT devices and the consequent rise in the number of cybercriminals will play a key role in the market expansion. The increasing emphasis on the security of the entire ecosystem, such as IoT devices, mobile apps, and cloud professional services has led to the rising need to prevent potential breaches, adding to the industry growth.
 

The constant exposure to new and sophisticated threats in the mobile application security market, including phishing attacks, malware, and data breaches may limit the industry growth to some extent. The lack of awareness of the importance of keeping mobile devices and apps updated can also lead to poor security practices.
 

COVID-19 Impact

The COVID-19 pandemic had a positive impact on the mobile application security industry on account of the rising consumer preference for mobile applications for communication, entertainment, and remote work. According to an AppAnnie study, the monthly time spent employing mobile apps increased 40% in comparison to Q2 2019 in Q2 2020. The growing limitations of in-person banking services along with the surging data privacy concerns from COVID-19 contact tracing apps also influenced the market expansion.
 

Mobile Application Security Market Trends

The burgeoning adoption of mobile payment platforms and FinTech apps coupled with the consequent rise in security challenges will drive market growth. A recent Ponemon Institute Study estimates that capital market firms as well as banks spend nearly USD 18.5 million per year to combat cybercrime. With the growing popularity of QR codes as primary form of payment solutions, the need for protecting financial transactions while securing sensitive user data has significantly increased. The rising preference for mobile apps as opposed to credit or debit cards mainly amongst the younger generation will define the market demand.
 

Mobile Application Security Market Analysis

Based on enterprise size, the market is divided into large enterprises and SME. The SME segment held a considerable share of the mobile application security enterprise industry in 2023 and will witness highest growth through 2032. As SME increasingly depend on mobile apps for conducting business operations and interacting with customers, the dearth of security measures makes way for financial losses, data breaches, and hindered reputation. The growing adoption of BYOD policies by SME for enabling employees to utilize their personal devices for work-related tasks will accelerate the market expansion.
 

Mobile application security market size from the retail & e-commerce segment accounted for 24% of the revenue share in 2023. The sensitive data in the retail & e-commerce sector, including payment details, customer personal information, and transaction history has led to the rise in security breaches leading to financial losses and reputational damages.
 

As per Verizon’s 2022 data breach report, the retail industry recorded 629 incidents in 2022, with 241 showing confirmed data disclosure. The rising obligation to limit the risk of security incidents while protecting customer sensitive information in retail and e-commerce businesses will contribute to the segment expansion.
 

Asia Pacific mobile application security market is expected to grow at a CAGR of 25% during the forecast period, driven by the rising smartphone penetration in the region. According to Ministry of Information and Broadcasting in 2022, India had around 600 million smart phone users. The surge in e-commerce platforms as well as mobile banking services is accelerating the adoption of secure mobile applications. The rapid advances in mobile technologies along with the growing government focus on introducing stringent data protection laws and regulations for safeguarding user data and privacy will add to the regional market growth.
 

Mobile Application Security Market Share

Major companies operating in the mobile application security industry are:

• Acunetix
• Micro Focus
• Broadcom, Inc.
• Veracode
• Aeries Technology
• Onapsis
• Indusface
• Cisco Systems
• Data Theorem
• Google
• F5, Inc.
• Ivanti
• NowSecure
• Sophos
• VMware

These companies are focusing on strategic partnerships to increase their market share. For instance, In January 2023, Ivanti extended its partnership with Lookout Mobile Endpoint Security to offer Mobile Threat Defense in line with its unified endpoint management solution.
 

Mobile Application Security Industry News

• In April 2023, VMware disclosed new capabilities to deliver strong lateral security in multi-cloud environments to help customers better view and stop more threats.
   
• In September 2022, NowSecure rolled out the latest iteration for its NowSecure Platform with new autonomous capabilities for auditability and productivity - Policy Engine and Guided Testing, a new mobile AppSec testing solution assisting organizations to seamlessly deploy, automate as well as enforce customized security policies.
   

The mobile application security market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Solution

• Anti-Virus
• Anti-Theft
• Web security
• Data backup and recovery

Market, By Services

• Managed
• Professional
• Consulting
• Integration
• Support & Maintenance

Market, By Enterprise Size

• Large enterprises
• SME

Market, By Deployment Model

• On-premises
• Cloud

Market, By Industrial Vertical

• BFSI
• IT & telecom
• Retail & E-commerce
• Healthcare
• Government & defense
• Education
• Transportation
• Manufacturing             
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ 
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • UAE
  • Saudi Arabia