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New research predicts mobile security market to grow at 33 percent CAGR

 

The global mobile security market is expected to grow at a CAGR of 33 percent from $24.17 billion in 2017 to $46.74 billion in 2023, according to a new report from Zion Market Research.

The report suggests that the growing use of smartphones for financial and e-commerce transactions has driven the integration of fingerprint, voice, iris, signature, keystroke, and facial recognition biometrics into mobile devices.

The Asia-Pacific region is expected to have the highest growth rate over the forecast period, in part due to adoption by SMEs and enterprises. High growth rates are also expected in Latin America and the Middle East and Africa, while North America and Europe are still expected to be the most profitable regions.

Key players in the market identified by the report include innoPath Software, IBM, Microsoft, Google, Intel, Symantec, Kaspersky Lab, Apple, VMware, and MobileIron.

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