Fast Facts: Mobile Is Driver Behind Security Market’s Value Growth
In the fast-paced IT industry, new statistics and data are released daily. Each Friday, Enterprise Mobility Exchange will publish Fast Facts, taking a look at interesting or noteworthy information impacting businesses.
A new report released this week shows the proliferation of enterprise mobility is impacting multiple peripheral industries both now and for the foreseeable future.
According to a Markets and Markets study on Managed Security Service Market by services, deployment type, organization size, vertical, and region the forecast looks like:
- Nearly doubling in market value from 2016 to 2021, with a CAGR of 14.6%, increasing from $17.02 billion to $33.68 billion
- The three biggest drivers behind this growth are constant threats to intellectual property, proliferation of mobile devices, and increase in mobile workforce
- North America will be the largest market for this growth in terms of global share based on its “well-established economy”
- The BFSI vertical (Banking, Financial Services, and Insurance) will account for the largest portion of the market growth
- The SME (Small to Medium Enterprise) segment will grow at the highest CAGR of all segments
What do you think? Is the growth of mobile the reason behind the managed security market’s growth? Does the forecast seem accurate? Too low? Too high?
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