As usage of mobile devices to carry out financial and e-commerce transactions has increased, it has also created a necessity to secure personal data on these devices. This has in fact promoted to the use of several biometrics technologies such as fingerprint recognition, voice recognition, iris recognition, signature recognition, keystroke recognition, and facial recognition.
Therefore, market research firm Zion has published a recent report in which it has confirmed that those companies offering mobile security solutions will see profits in coming years. As the mobile security market is said to reach to $24.17 billion by 2023.
The Zion Market Research report titled “Mobile Security Market by Solution” was compiled by taking the viewpoint of those serving the mobile security industry, as per operating system usage and in perspective of end users.
Zion Mobile Security report says that as consumers have started using smartphones to make online transactions as they are easy, quick and convenient, they penchant for M-Commerce dealings has created a security hole in the form of cyber attacks on transactions. This has and is said to augment the requirement for mobile security solutions market on a future note.
As consumers are increasingly depending on m-commerce applications and the usage frequency and the length of their usage has increased in recent times, it is said to boost the mobile security market in coming years taking the current revenue of $24.17 Billion USD to $46.74 billion USD by the end of 2023.
Zion Research has also confirmed that the market in the Asia Pacific is touted to be the fastest growing region, owing to the rise of adoption of security solutions across the SMEs and larger enterprises emerging in this region. Latin America, Middle East, and Africa are also anticipated to exhibit high growth rates in the forecast period.