The Global Enterprise Mobile Application Security Market Revenue to Reach $8.54 Billion by 2023
Bangalore, India – July 20, 2018: With its recently published study “Global Enterprise Mobile Application Security Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the market for enterprise mobile application security will continue to grow owing to the demand for bring your own device (BYOD) and corporate-owned personally-enabled (COPE) strategies among enterprises, increasing spending on enterprise security, and rising volume of enterprise applications.
According to Infoholic Research, mobile application management (MAM) is expected to be adopted across the industries to handle mobile application security. It is estimated that over 45% of the medium and large-sized enterprises globally are likely to spend over $250,000 on mobile security. A significant part of their investments will go for MAM as supplication security has become a key pain point for CIOs.
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In 2017, enterprises across the industries had been using over 80 applications on an average, which is estimated to reach over 110 by 2020. The increased use of smartphone across all levels in an enterprise is fuelling the growth of device & application security.
Enterprises are depending on enterprise mobility management and mobile device management, which secure mobile devices that are used in an enterprise. Also, this benefits the enterprises by protecting applications to some extent. However, in recent years, device management solutions are unable to cope up with the increasing application security vulnerabilities. Though application security is easy to implement in an enterprise, the rising need for real-time monitoring of devices, limiting authentication when the device is not present in an enterprise network, securing third-party applications, poor device authentication, and lack of encryption have become key challenges. Furthermore, growing security concerns related to B2C applications in an enterprise are fuelling the need for securing mobile applications with a dedicated solution, i.e., MAM.
Advantages of MAM:
- MAM protects enterprise policies at the application level that cannot be implemented at the device level
- Enables app wrapping with enterprise SDK and configuration, such as VPN, allowing users, Wi-Fi, and network
- Inadequate security for growing number of applications running in a device
- Granule monitoring and analytics at the application level can be enabled
- Validating access for B2C applications remotely
With the increase in the volume of an enterprise app, the demand for application security will increase as existing device-level security cannot meet the growing security needs. Also, MAM is helpful in enabling enterprise policies and allowing or limiting access to a variety of enterprise devices.
“The application security is expected to become one of the key pinpoints for enterprises in their security strategies. The ongoing workplace transformation and growing adoption of enterprise mobile devices are pushing the need for securing enterprise applications. Regulatory bodies shall push the GRC standards of security vendors, which results in increased competition in the market.” – Srujan, Research Analyst at Infoholic Research
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The report covers the present scenario and growth prospects of the global enterprise mobile application security market during the forecast period 2017–2023. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- Application Testing Tools: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing, Runtime Application Self-protection, and Others
- Platforms: Mobility Device Management, Mobility Application Management, and Mobile Information Management
- Solutions: Data Protection, Intellectual Property Protection, Secure Authentication, Code Vulnerability, and Others
- Risk Analytics
- Industries: Corporate & IT, Manufacturing, Healthcare, Automotive, BFSI, Retail, Government, and Others
- Regions: Americas, Europe, APAC, and MEA
- It also contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views.
Ms. Sunanda Ganguli
Infoholic Research LLP