Smartphone Security Market Expected to Reach $2964.89 Million in 2016 - New Report by MarketsandMarkets
March 22, 2014 --
(PRWEB) March 22, 2014
The report Global Smartphone Security Market by Operating Systems, Ownership & Features (2011 2016) defines and segments the global Smartphone security market with analysis and forecasting of the global revenue for operating systems. It also identifies driving and restraining factors for the global Smartphone security market with analysis of trends, opportunities, and challenges. The market is segmented and revenue is forecasted on the basis of major geographies such as North America, Europe, Asia-Pacific and Japan, and Rest of the World (ROW).
Browse more than 75 market data tables/figures spread through 190 pages and in-depth TOC on Global Smartphone Security Market by Operating Systems, Ownership & Features (2011 2016).
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The global Smartphone market is expected to grow in the coming five years. This growth is largely fueled by the need of security on smartphones due to increase in constant connectivity and demand for high bandwidth applications. This growth is particularly higher in geographies such as Europe and APJ due to the most widely used mobile payments application, especially for making payments for mobile digital & physical goods.
MarketsandMarkets expects the global Smartphone security market to grow from $387.15 million in 2010 to $2964.89 million by 2016. Global Smartphone security market for Android OS is the fastest growing one with a CAGR of 65.05% from 2011 to 2016 due to increasing number of applications.
The overall Smartphone security market is expected to increase with a CAGR of 43.9%, major driving force being, high penetration of smartphones and rise in number of Smartphone applications while lack of awareness among the masses remains the restraining factor. Key issue in the industry today is battery over drain and mobile handset and security software incompatibility.
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