In the fourth quarter of 2013 global revenues from mobile device security software grew by 10% on a sequential basis, reaching $385 million. For the whole of 2013 the market expanded by 40%, which took revenues beyond the $1-billion mark. With several factors combining to drive growth, the value of the mobile security software market is expected to hit $3.4 billion in 2018.
This forecast is contained in the latest market report from Infonetics Research, which publishes its analyses and prognoses for mobile security software sales biannually. According to the new report, enterprise mobile clients accounted for 51% of the overall market and the consumer segment made up the remainder.
From a geographical perspective, the biggest revenue contributor in 2013 was the Asia-Pacific with a 34% share. North America was a close second with 32% of total revenues, while the EMEA region secured third place with 31%. Infonetics Research pointed out that smartphone shipments in EMEA and the Asia-Pacific greatly outnumbered those in North America but the latter was the market with the strongest adoption rate for mobile security solutions.
In a note accompanying the report, Infonetics Research principal security analyst Jeff Wilson listed three key reasons for the rising enterprise and consumer investment in mobile device security software. In the case of enterprises, a major spending driver is the accelerating BYOD trend. Sales are also getting a boost from the steadily rising number of cyber security threats and their growing sophistication. Last but not least, the furore caused by the NSA spying revelations has made data and privacy protection one of the top concerns for both enterprises and consumers, Wilson said.
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