03 Mar Mobile Security Report Q3 2015
Mobile Security Report
A SPECIAL REPORT FROM THE EDITORS AT CYBERSECURITY VENTURES
The Mobile Security Report provides trends, statistics, best practices, and resources for chief information security officers (CISOs), IT security staff, mobile app developers, and mobile device users.
Mobile security market exploding with 30 percent + growth projected through 2019
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- The total mobile security market is expected to grow from $1.5+ billion in 2014 to $5.75 billion by 2019, at an estimated Compound Annual Growth Rate (CAGR) of 30.7 percent from 2014 to 2019, according to a report by Markets and Markets.
- According to a 2015 Silicon Valley Bank report, there will be more than 1 billion employee-owned smartphones and tablets in the workplace by 2018.
- According to Gartner, portable, wirelessly-connected consumer devices are everywhere. By 2018, 70 percent of mobile professionals will conduct all of their work on personal smart devices.
- The “PwC 2015 Information Security Breaches Study on UK Corporations” reports that 15 percent of organizations suffered from a breach caused by use of a smartphone or tablet device, more than doubling last year’s figure of 7 percent.
- The “2015 Alcatel Lucent Motive Security Labs Report” – found that malware infections in mobile devices increased 25 percent in 2014. Android devices have now caught up with Windows laptops, which had been the primary workhorse of cybercrime, with infection rates between Android and Windows devices split 50/50 in 2014.
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- According to the “HP 2015 Cyber Risk Report”, 97 percent of the mobile applications examined had significant flaws in their security features, leaving user data at risk. The report states “Not only do the same issues that affect web applications impact their mobile counterparts, but mobile applications have the added bonus of also having unique security concerns. 80 percent of mobile applications unintentionally revealed information of potential benefit to malicious attackers. 71 percent stored data in an unsecure manner. 66 percent didn’t protect data via encrypted communication or other means. And 31 percent had the potential to reveal geo-location information.”
- Malware growth continues to be aided by the fact that a vast majority of mobile device owners do not take proper device security precautions. The Motive Security Labs survey found that 65 percent of subscribers instead expect their service provider to protect both their mobile and home devices.
- According to a recent Ponemon Institute study commissioned by IBM, 40 percent of companies do not scan their mobile apps for cybersecurity vulnerabilities before making them available, creating huge windows of opportunity for data breaches. The average company tests less than half of the mobile apps they build, and 33 percent never test their apps.
- The Ponemon study indicates 50 percent of companies dedicate zero ( $0 ) budget towards securing the mobile apps they build for customers, who use those apps to enter and upload confidential data including billing and personal identity information.
- Subbu Sthanu, Director of Mobile Security and Application Security at IBM, said the Ponemon study found that 67 percent of large organizations allow their employees to download unverified, personal apps on their work devices, the same phones and tablets that can also access highly confidential customer records and business data.
- Apple is adding security to mobile devices with its new iOS9, adding two-factor authentication for user ID and stronger encryption to ward off hackers.
- “Mobile security spending is trending up rapidly – due in part to the sheer number of new mobile devices entering the market and growing mobile risk awareness from corporate security people” says Steve Morgan, Editor-In-Chief of the Cybersecurity Market Report. “But the market is just cracking open and mobile security is only a fraction of the total security spend. Analysts and research firms indicate the real opportunity in mobile security is still ahead of us”.
- Gartner has stated that there is a lack of penetration of security tools among users of new mobile platforms, and they do not expect to see new demand for this type of capability to emerge before 2016. Most consumers do not recognize that antivirus is important on mobile devices and therefore have not yet established a consistent practice of buying mobile device endpoint protection software. This purchasing trend and market shift away from PCs will have significant repercussions on the consumer security market. However, as mobile devices gain in mass popularity and as security is likely to be a higher priority from 2017 onward, then new market opportunities are likely to emerge.
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Steven C. Morgan, Editor-In-Chief
- is Founder and CEO at Cybersecurity Ventures, and Editor-In-Chief of the Cybersecurity Market Report and the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies. Steve writes the weekly Cybersecurity Business Report for IDG’s CSO, and he is a contributing writer for several business, technology, and cybersecurity media properties.
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