The report predicts faster growth in the Asia-Pacific region, with a 49% annual growth rate. Europe currently is the largest market, with 32% of the global market for smartphone security products.
The report, 'Global Smartphone Security Market by Operating Systems, Ownership & Features (2011–2016)', said that the security market for Android OS will grow fastest at a 65% annual rate from 2011 to 2016.
MarketsandMarkets believes the drivers for the smartphone security market will be the expanding number of smartphone features, such as web browsing, email, and social media access. These features make smartphones more vulnerable to viruses, spam, and malware.
The report divides the market into three segments: mobile operating systems, ownership, and features. The OS market includes Symbian, Android, Windows Mobile, Blackberry, and iOS. The ownership segment includes individiuals and busineses, and the features segment includes anti-virus, anti-thefit, anti-phishing, encryption, anti-spam, anti-marlware, privacy audit, and parental control.
Key issues for the smartphone security industry are battery drain as well as mobile handset and security software incompatability.