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Global Smartphone Security Market Driven by Increased Smartphone Penetration for Corporate Communication

Smartphone Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018
Published 04 February 2016
Following the global recession at the end of the first decade of the 21st century, economies around the globe have begun picking up pace and the consumer goods and electronics sector was looking up. Demand for mobile phones, especially smartphones, grew, as did internet usage and subscribers across demographics. With the significant surge in the number of mobile internet subscribers came concerns about data security, bringing to the fore the smartphone security market. 
 
 
Over the years, the need for smartphone security has grown among both personal as well as business users. Today security solutions are being devised for every mobile operating system, be it Windows, Android, iOS, or Blackberry.
 
Rising Threat of Cyber Attacks Fuels Smartphone Security Market
 
A major threat that has taken the digital world by storm is cyber attacks. The sophistication, complexity, and frequency of cyber attacks is not only a key driving force for the global smartphone security market, but also acts as an opportunity for manufacturers and software developers to step up their game and launch novel solutions to combat or prevent such attacks. The decreasing prices of smartphones, rise in disposable income, growing use of smartphones especially for corporate communication, and increase in the number of online applications and internet users are all factors contributing to the growth of the smartphone security market. 
 
On the downside, lack of awareness among end users and security software distributers is impeding the growth of the market. However, this can act as a significant opportunity for vendors to focus upon in the coming years. 
 
Global Smartphone Security Market Displays Promising Growth across Regions
 
The global market for smartphone security comprises four key regions: North America, Europe, Asia Pacific, and Rest of the World. Europe is currently the largest regional market for smartphone security owing to the rapidly growing number of mobile internet subscribers. North America held the second largest share in the global market, with Asia Pacific being the fastest developing regional segment. Rise in disposable income among the middle class, increasing awareness about smartphone security, surge in the number of internet subscribers, and rise in smartphone penetration are factors responsible for the growth of the Asia Pacific market. 
 
Vendor Strategies Adopted to Gain Competitive Advantage
 
The worldwide smartphone security market is rather competitive and there are numerous small and large players operating at a global and domestic level. Some of the prominent vendors of the smartphone security market are Avast Software A/S, Good Technology Inc., Trend Micro Incorporated, Kaspersky Lab, SMobile Systems Inc., Wavelink Corporation, AVG Technologies, Bitdefender LLC, F-Secure Corporation, Ahnlab Inc., Columbitech AB, Lookout Inc, ESET, SPOL. S.R.O., BullGuard Ltd., McAfee Inc., Symantec Corporation, and Certicom Corp. 
 
The main focus of the players within the smartphone security market at present is new product launches. Companies are now moving from providing individual services to bundling products and services. In the recent past, players have been leaning on strategic alliances to improve their market presence. This flurry of activity has greatly contributed to the growth of the smartphone security market.

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