The Global Smartphone Security Market accounted for $1064.89 million in 2016 and is expected to reach $12709.38 million by 2023 growing at a CAGR of 42.5% from 2016 to 2023.
According to Stratistics MRC, increased acceptance of the bring your own device, rising number of application downloads, decreasing prices of smartphones, rising number of online applications, increase in cyber attacks, increase in smartphone Internet users, increasing disposable incomes are some of the key factors which are fostering the market.
However, less awareness about smartphone security may hinder the market growth.
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Smart Phones have acquired significant growth within the corporate sector.
Europe is expected to dominate the global market during the forecast period. Due to increased demand for smartphone in emerging markets such as India and China, Asia Pacific is estimated to exhibit high growth.
Some of the key players in global Smartphone Security market include Lookout Inc, Trend Micro Inc, F-Secure Corporation, Netqin Mobile Inc, Juniper Networks Inc, Quick Heal Technologies (P) Ltd, Mcafee Inc, Panda Security S.L, Columbitech AB, Symantec, Sybase Inc, Eset, Spol. S.R.O, Hauri Inc, Sophos Ltd and Kaspersky Lab.
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