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Mobile Application Security Market Trends

Report ID: GMI6345
Published Date: Jul 2023
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mobile application security reached USD 5.2 billion in 2023 and is set to expand at 22% CAGR through 2032, backed by the growing shift towards agile development methodologies for faster release cycles in mobile apps.

The retail & e-commerce segment was 24% in 2023, owing to rise in security breaches leading to financial losses and reputational damages.

Asia Pacific market is poised to witness 25% CAGR from 2024 to 2032, driven by the rising smartphone penetration in the region.

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