The global mobile threat defense market is expected to witness significant growth, reaching a value of $8.6 billion by 2029. This growth reflects a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. The market size, forecast, verticals, and competitive landscape of this industry are analyzed in this report.
The IT & telecom sector holds the largest share in the mobile threat defense market due to the widespread use of mobile devices, desktop computers, and laptops that store critical information. The need to secure these devices, protecting sensitive data and passwords, is a driving factor for market growth. Mobile Threat Defense offers benefits such as cost savings, robust security, and rapid response to cyberattacks.
Cisco Systems, Inc. and Broadcom, Inc. are identified as major players in the market. Cisco’s launch of new XDR solutions and advanced features for Duo MFA strengthens their commitment to enhancing security. Other innovators, including BlackBerry Limited, Sophos Group PLC, and SAP SE, are also making significant contributions.
The adoption of Enterprise Mobility Management (EMM) and Mobile Threat Management (MTM) is driving market growth. EMM manages security solutions on operating systems, while MTM focuses on security solutions for mobile devices. The deployment of both EMM and MTM provides access to various functions such as device management, real-time monitoring, and GPS tracking.
The increasing demand for Bring Your Own Device (BYOD) policies in organizations is leading to the need for secure mobile devices and network infrastructure. Protecting corporate and personal data while maintaining privacy drives the demand for robust security solutions in the market.
However, a lack of understanding about cybersecurity and potential security threats is a restraining factor for market growth. Cybercriminals target both individuals and organizations, exploiting vulnerabilities and stealing sensitive data. The lack of awareness about mobile device security solutions inhibits market growth.
In conclusion, the global mobile threat defense market is expanding rapidly, driven by the need for secure mobile devices and the increasing adoption of BYOD policies. Key players in the market are continuously improving security solutions to meet evolving threats. However, raising awareness about mobile device security is crucial for future market growth.