Mobile Security Spending May Hit $9 Billion This Year

Mobile Security Spending May Hit 9 Billion This YearSpending on mobile security could reach an all-time high this year.

If the trend continues, Research and Markets reports, global spending on mobile device and network security infrastructure, software and services will reach $9 Billion by the end of 2013.

Mobile networks around the globe generate more than 50 Exabytes of traffic annually. The immense volume of traffic together with the growing adoption of open source Operating System (OS) platforms such as Android has opened up new security threats.

In particular, the report cites, mobile malware, SMS spam, cyber attacks and unlawful eavesdropping are an ever-increasing problem for enterprises, consumers and mobile network operators around the globe.

This has in turn led to significant investments in integrated security appliances and content security gateways by both enterprises and mobile network operators,  besides opening doors for emerging submarkets such as mobile Security as a Service (SEaaS).

Beyond the mobile device and network security investments that will account for nearly $9 Billion in 2013 alone, the market “is further expected to grow at a CAGR of nearly 21% over the next 7 years.”