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Mobile Security Spending Expected to Reach $9 Billion in 2013 Says New Report

Binary Matrix SecurityA new report by Research and Markets dubbed “The Mobile Device & Network Security Bible: 2013 – 2020”  says the global spending on mobile device and network security infrastructure, software and services will hit Acc$9 Billion by the end of 2013.

According to the report, global mobile networks generate over 50 Exabytes of traffic annually. The immense volume of traffic together with the growing adoption of open source Operating System (OS) platforms such as Android has opened up new security threats. Mobile malware, SMS spam, cyber attacks and unlawful eavesdropping are an ever-increasing problem for enterprises, consumers and mobile network operators around the globe.

Due to this, firms have had to increase their investments in integrated security appliances and content security gateways by both enterprises and mobile network operators,  besides opening doors for emerging submarkets such as mobile Security as a Service (SEaaS).

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On the devices front, installation of Anti-Malware/Anti-Virus client software is fast becoming a de-facto requirement for most smartphones and tablets. Furthermore, mobile device OEMs are also integrating advanced biometrics such as fingerprint sensing into their smartphones and tablets, amid growing popularity of security sensitive opportunities such as mobile payments.

Driven by the thriving ecosystem, SNS Research estimates that mobile device and network security investments will account for nearly $9 Billion in 2013 alone. The market is further expected to grow at a CAGR of nearly 21% over the next 7 years.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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