The analysts at Technavio forecast growth of 8% from 2016-2020 for the mobile security market, including mobile security applications, mobile device management solutions, and mobile app security testing.

The growth forecast focuses on four key factors:

Widespread access to 3G & 4G networks

The rise of access to high speed internet in developed and developing countries will contribute to the growth of the mobile security market.

The growth and speed of mobile networks gives users a way to use bandwith-intensive apps, however, this will also increase security issues for users and create a need for mobile security software.

More mobile apps, more mobile app security testing?

As mobile apps add more functions to our mobile devices, in particular in the business and entertainment space, users will be open to danger from mobile malware and app security flaws that will create further demand for malware protection and more rigorous mobile app security testing from developers.

Digital transactions

As mobile banking, payment, and contactless grows in the retail and enterprise space due to their speed and ease these will become a target for hackers and malware.

In particular the banking, financial service, insurance, retail, and payment card industries will lead to a rise in identity and data theft. This is another area that will require high standards for mobile app security testing, with app security that goes above and beyond standard compliance practices.

Privacy concerns

The number of apps on public app stores that contain malware continues to grow. The vulnerabilities and malware in these apps threaten to access data, track users, and force devices to become part of revenue fraud in SMS and online advertising. This will also require users to become more vigilant in their use of mobile security software and expect high security standards from app developers.

Codified Security is here to help make your mobile app secure whether it’s for iOS, Android, or to make sure you’re clearing the OWASP Mobile Top 10. For mobile app security testing try out Codified Security.