The global market is starting to reach record heights and a new report shows that it will take off by the end of this year.
The mobile security marketplace is all lined up to reach record breaking new heights this year, according to a report that has been released by a firm called Visiongain.
A rise in smart devices and connectivity has added to the need for this extra level of protection.
This has been especially true in the workforce, which has been increasingly dependent on smartphones and, therefore, requires added mobile security to keep data safe. After all, the popularity of these devices has made them into a very appealing target for cybercriminals who are after the data that is contained on those mobile devices.
BYOD programs have made the need for mobile security policies a requirement for businesses.
According to the Visiongain report, “Mobile devices cause ongoing concern for IT teams responsible for information security.” It also went on to add that “Sensitive corporate information can be easily transported and lost, while the Bring Your Own Device (BYOD) movement has dramatically increased the number of expensive security incidents.”
The report was entitled “The Mobile Security (mSecurity) Market Forecast 2014-2024: Future Prospects For Leading Players.” Within it, considerable insight was provided regarding the current trends in this marketplace as well as the direction that it will be taking over the next ten years.
This year, alone, software to protect smartphones and other devices has truly been coming into its own. Where people used to think that it was required only for PCs, they are now starting to realize that it is just as important for protecting the information that they have on their smartphones, particularly if those devices are being used for professional purposes.
What this has meant is that the mobile security market, according to Visiongain, is now set for a tremendous growth throughout this year and that by the end of it, it will have reached the $4.5 billion mark. That will be well beyond the figures that the market has managed to reach in any previous year.
The cloud software manufacturer has now revealed that it will be buying the company for $1.54 billion.
VMware Inc., a cloud software maker, has now announced that it will be buying AirWatch, which is a privately held mobile security provider, for a purchase price of $1.54 billion.
The goal is to allow the companies to secure a place in meeting demands from companies for securing devices.
As a growing number of employers are allowing their workers to use their own mobile devices such as smartphones and tablets, they are also placing themselves at an increased risk. Therefore, there is currently a rapidly rising demand from businesses for a way to secure those employee owned gadgets, as well as those that are owned by the companies but that are used by the employees, for that matter.
Some analysts see this mobile security acquisition as a threat to BlackBerry’s traditional position of dominance.
The reason that they feel this way is that BlackBerry Ltd. has, for many years, been the automatic choice for companies that are seeking to protect themselves with security products. That said, other analysts are saying that this new acquisition could lead to a rash of additional buyouts throughout this market.
The first steps that VMware, itself, had made into this market were only recent ones. It’s primary business has been in the manufacture of virtualization software, which produces a type of virtual machine which behaves in a way that is comparable to an actual computer. This gives companies the opportunity to slash their IT expenses by reducing the need for storage space and servers.
According to Pat Gelsinger the CEO of VMware, when interviewed about the deal, “AirWatch will be the center of our mobile activities,” adding that “We are really bringing together the strength we have in PCs and desktops with AirWatch’s in the mobility space.”
According to ABI Research, the mobile security marketplace will be doubling by next year, to reach over $1 billion. The VMware acquisition of AirWatch is the third major deal of this nature that has recently occurred and many are predicting that this number will grow.
