Revelations about NSA hacking, the increasingly sophisticated level of threats to smartphones and the growing number of people using their own devices at work has led the mobile device security market to grow by 40 percent to €937 million, according to new research.
The Europe, Middle East and Africa region was the third biggest market for device security products, with a 31 percent share, Infonetics has revealed. Asia Pacific was first with 34 percent and the US second at 32 percent.
In the fourth quarter of last year, sales of security products were up 10 percent on the previous quarter to €277 million. The market was almost split evenly between enterprise (51 percent market share) and consumers (49 percent).
Jeff Wilson, Principal Analyst for Security at Infonetics, said: "The triple threat of bring-your-own-device (BYOD) as a dominant enterprise trend, an increasingly hostile threat environment, and the deluge of frightening revelations about privacy courtesy of the NSA is forcing enterprises and consumers to invest real money in mobile device security. The mobile device security software market grew 40 percent to cross the billion-dollar mark in 2013 and we expect it to grow to $3.4 billion in 2018."
Meanwhile, in a separate piece of research, Infonetics has predicted spending on deep packet inspection will top €1.4 billion by 2018.
Shira Levine, Directing Analyst for Service Enablement and Subscriber Intelligence, said: "The deep packet inspection (DPI) market, particularly the mobile opportunity, remains a dynamic one, with momentum driven by not only basic traffic management requirements, but also by the need to support new pricing and service offerings.
"As this occurs, we're seeing continued interest in embedding DPI functionality in applications such as security, video optimisation, and revenue and service assurance, which is driving demand for embedded solutions that provide advanced packet classification, such as Qosmos' ixEngine and Procera's NAVL."
The market grew by 23 percent to €524.5 million last year, with Sandvine the biggest company, followed by Allot, Cisco and Procera.