The global rise of mobile devices, especially smartphones and tablets, has presented ample opportunities for hackers to rethink their approach to cybercrime and focus on targeting their attacks at unsuspecting users.
However, smartphone and tablet users are no longer sitting back and allowing cybercriminals free reign. According to the recently released report Global Smartphone Security Market by Operating Systems, Ownership & Features, the market for mobile data security solutions is set to expand rapidly.
Research indicates that the market is primed to increase 43.9 percent annually through the next five years. Overall, revenues will grow from $387.2 million last year to nearly $3 billion by 2016, researchers said.
Market drivers include the penetration of smartphones and the rising number of mobile applications for various device platforms, according to the report.
"The global smartphone market is expected to grow in the coming five years," researchers concluded. "This growth is largely fueled by the need of security on smartphones due to increase in constant connectivity and demand for high bandwidth applications."
This is certainly not the first report to forecast gains in the smartphone security market. Last month, Global Industry Analysts released a study that was even more bullish on the prospects for the market. According to that research, the market for mobile security solutions will top $14.4 billion by 2017.
GIA recognized similar market drivers for this growth.
As it now stands, mobile users will need to rethink their data security habits if they wish to have any chance of protecting their devices. According to a survey published last month, 75 percent of respondents fail to implement the proper data protection measures, leaving them vulnerable to breaches and loss should their devices be lost, stolen or infected with malware.