PORTLAND, Ore. – The global mobile security market is forecast to reach $34.8 billion by 2020, registering a CAGR of 40.8% during 2014-2020, according to a new report released by Allied Market Research.
The Bring Your Own Device (BYOD) trend adopted by small and medium businesses as well as large organizations is a major reason for the adoption of mobile security software, according to the report.
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Widespread adoption in the Asia Pacific region contributes the largest revenues for the global market, followed by European countries and Middle East and African countries. The global mobile security market accounted for $3.4 billion in 2013, states the report, “Global Mobile Security Market: Solution, Types, OS, Trends, Opportunities, Growth and Forecast, 2013 – 2020.”
Enterprises allowing BYOD expect the primary benefits to be improved employee satisfaction, increased productivity and better overall enterprise security. Enterprises are adopting BYOD as an opportunity to invest in the increasing productivity of their employees, according to the report.
For more findings from the report, click here.
