Enterprise Mobile Application Security Market Size – In-depth Analysis Report, Industry Growth Factor, Prospect, Overview, Demand, Top Players, and Current Trends with Forecast to 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Enterprise Mobile Application Security Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Enterprise Mobile Application Security Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Enterprise Mobile Application Security Market products.

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The growth of the market can be attributed to the growing accessibility to internet amongst the households globally and the need for advanced technologies that promote effective communication between two distant geographies. In the United States, internet access to households grew from around 73% of the households in 2015 to close to 80% of the households in 2019. In Korea, it was around 98% in 2014 which grew to nearly 100% in 2020. On the other hand, in the Netherlands, internet access to households touched nearly 98% in 2019. Countries in the Latin America, such as Brazil and Mexico grew at a significant pace by about 1.45x and 1.63x respectively within a span of 4 years between 2015 and 2019.

The Enterprise Mobile Application Security Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2024, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.

Overview:
Most of the mobile devices that are being used in recent times have no security applications, which is mainly due to the lack of awareness about protecting a mobile device. In most cases, mobile users download a variety of third-party apps, and even after uninstalling, often these apps still have access to consumer information, which is overseen by a majority of mobile phone users. As a result, sensitive personal information, including bank account details, social security number, and contacts, are likely to be exposed to hackers if they could identify the vulnerabilities present in a mobile device.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

As numerous enterprises are investing in smartphones and tablets to improve employee mobility as well as consumers leveraging BYOD, both enterprise’s sensitive information and personal information will be at stake. Vulnerabilities, such as injections, poor authentication, and lack of structured BYOD policies on information storage, are expected to result in possible cyber risks with data loss or data breach. The adoption of wearable devices at the workplace is further adding to the increasing security vulnerabilities. Enterprises are investing in a wide range of devices and application security platforms to focus on the application-level protection of a device.

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By 2021, on an average, over 110 applications are expected to be used by enterprises across the globe, and a significant part of these apps are likely to be created on open source platforms. Also, device protection policies are expected to be changed across the globe and protection of sensitive customer information will become a responsibility of enterprises, driving the growth for mobile application security among enterprises.

Highlights of the Report:
The market share of MAM platforms is expected to surpass MDM during the forecast period 2017–2023
Due to regulatory push, enterprises are expected to take the ownership of securing their employee information when present in an enterprise
Security solution vendors are expected to come up with industry-centric authentication and encryption solutions
DAST and RASP testing tool platforms are most likely to receive higher adoption from app developers and enterprises
According to Infoholic Research, the “global enterprise mobile application security” market is expected to reach revenue of 8.54 billion by 2023, growing at a CAGR of 12.8% during the forecast period 2017–2023.

Market analysis:
The market is segmented into security testing, platform & solutions, and risk analytics & reporting. The security testing is an essential part in application security that includes a variety of testing tools, namely SAST, DAST, IAST, and RASP. Over 60% of the applications being used by enterprises are developed on open code platforms, which are more vulnerable in the case of hacking. In 2017, SAST accounted for a larger share in the segment mostly due to higher volumes of applications deployed in enterprise devices and lesser app development deployment times, which is offering inadequate time to the enterprises to deal with security concerns. This is not allowing app developers to identify the possible vulnerabilities before an app gets deployed in an enterprise environment. Dealing with vulnerabilities when an application is running has become a major challenge for the enterprises, which is fueling the demand for other testing platforms, namely DAST and RASP. These are expected to grow at a higher rate owing to the increasing adoption of enterprise applications and demand for real-time monitoring and app security.

The popular emperies platforms used in application security are MDM, MAM, and MIM. These platforms offer a variety of solutions that are used for an enterprise application security. Due to the growing endpoint vulnerabilities, screen sharing, and information sharing between a variety of consumer and enterprise device, enterprises are moving toward platforms where their applications are being protected. These platforms offer a similar kind of solutions to end-users. MDM is popular owing to the higher volumes of devices being used in an enterprise, and services provided in MDM covers most of the device level protection that an enterprise needs to overcome device vulnerabilities. Enterprise device vendors, such as Samsung, have entered into a partnership with BlackBerry to collectively improve the device level protection in an enterprise. However, there are other types of platforms, namely MAM and MIM, that mostly focus on application level and protecting information through encryption. MAM is expected to result in enterprise-focused application stores that can host all the enterprise apps and hence securing applications becomes easy. However, these enterprise application stores are yet to receive higher adoption rates as they have limited upgradation from existing MAM platforms. MAM and MIM platforms are expected to witness a higher degree of innovations as protecting information through information encryption and authentication is comparatively easier than safeguarding all end-points in an organization.

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Regions:
The Americas and Europe are most likely to hold a larger share in the mobile application security market, and Asia is expected to become a leading adopter, mainly due to the increasing demand from developing countries in Asia. Middle East and Africa are expected to post slower adoption rate for smartphone penetration among the enterprises except for a few countries, namely UAE, Saudi Arabia, Israel, Turkey, and Egypt.

Vendors:
The report provides details about the global mobile application security market. The report also contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The companies included in the report are IBM, CA Technologies, Symantec, BlackBerry, WhiteSource, Black Duck Software, whiteCryption, Waratek, and MI3 SECURITY.

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