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.