Hackers today are recognizing and exploiting the reliance many mobile users have when it comes to their devices, whether it be a smartphone or media tablet. With that, cyber criminals are concocting schemes to trick mobile users into infecting their devices with malware and unknowingly giving up their confidential information.
But many users are now beginning to fight back with robust data security solutions and tools that protect both their devices and the information stored on them.
According to information security research and analysis firm Goode Intelligence, the market for mobile phone biometric security solutions will reach $161 million by 2015. This year, the market is expected to top $30 million in revenue, meaning its in for growth of more than $130 million during the next four years.
"The market is currently slow; but pressure is growing. The conditions are ripe for rapid change; for biometrics to move from an ‘interesting concept’ to a 'must have' for all smart mobile devices," the firm's latest report stated.
Such a need for robust security solutions has been recognized by officials and professionals in numerous industries. Speaking recently with Information Security Media Group, Patricia Titus, former CIO for the federal Transportation Security Administration, said the explosion in mobile device sales is leading to a greater need for mobile data security.
Many people now are increasingly connected to the web and getting more comfortable using their confidential information in mobile transactions.
"They've got it in their hands, they're carrying it on their hips, they've got it in their purse and they can be connected all the time and be aware of what's taking place across the globe," she said.
According to Goode Intelligence, several other similar factors are also feeding this trend. These include the explosion of mobile commerce and near-field communication technology, which makes it easier to purchase goods through a mobile device.