Published On: October 2022
Mobile application security concerns how well mobile apps on different operating systems, such as Android, iOS, and Windows Phone, are protected by software. This includes programs that work on tablets and mobile phones. It entails examining software applications for security flaws within the settings of the platforms they are intended to run on, the development frameworks they utilize, and the target audience they are designed for (e.g., employees vs. end users). A business's internet presence must include mobile applications, and many companies rely solely on them to interact with customers worldwide.
According to projections, the market for mobile application security will develop at a CAGR of 23.6% and is expected to reach a value of over USD 8.24 by 2025. Mobile apps for gaming, social media, and shopping rule this sector. The methods for selling, marketing, and branding products have changed because users use mobile devices more frequently. Businesses are providing their customers with mobile apps more often to make transactions. The risk of cyberattacks and security policy breaches has increased due to the rising number of downloads of these apps and the increased use of mobile devices to visit numerous enterprise websites. This has opened the door for mobile app security solutions.
Mobile application security safeguards mobile device apps from digital fraud, such as viruses, hacking, and other illicit manipulation. Mobile app security is implemented via two processes: first, using technology methods, and second, through individual responses. When mobile apps are connected to company networks, they create a significant entry point for security concerns. Threats to mobile applications typically entail hackers gaining access to business networks, stealing financial login credentials, and stealing and selling credit card data. Due to these vulnerabilities posed by mobile applications, security application deployment is widespread.
The rise in online mobile payments, the increase in security requirements brought on by BOYD adoption, the surge in demand for protecting video streaming content, and the expansion of machine learning and artificial intelligence in mobile security are the key factors propelling the growth of the mobile security market.
All widely used mobile platforms offer security tools to aid programmers in creating safe applications. The choice of security measures is frequently left up to the developer, however. Including simple security features for attackers to defeat can result in a lack of vetting.
Common problems with mobile apps include storing or accidentally leaking sensitive data in ways that other applications on the user's phone could read it, as well as performing subpar authentication and permission checks that could be disregarded by malicious software or users, using data encryption techniques that have a history of being brittle or readily cracked.
These flaws could be taken advantage of in a variety of ways, for as, by malicious software installed on a user's device or by an attacker with access to the same Wi-Fi network as a user. The market's expansion is slowed by the high price of mobile application security solutions and a lack of take-up in the enterprise sector. Additionally, the market for mobile application security is expected to benefit from lucrative growth possibilities in the next few years due to rising demand for SaaS-based mobile application security solutions and a critical need for protection against web-based malware.
The development of cloud computing, mobile device, and software vulnerability assessment is a result of the expansion of the IT and telecommunications industries. The International Trade Administration reports that to monitor and control their use of software as a service and other types of public cloud in the United States, 50% of businesses with more than 1000 users used products from Cloud Access Security Broker (CASB) in 2018. Malware risks through cloud networks are becoming common now that cloud computing is being used. The public cloud, private cloud, and hybrid cloud technologies are accessed through the organizations’ servers since the cloud-managed services are best suited for use in the various IT firms due to their high-speed internet and cost-effectiveness.
These advantages have led to a spike in cloud computing use, fueling the market's expansion. These elements are fueling the market's growth.