According to Infonetics Research's latest Mobile Device Security Client Software report, the mobile device security software market grew by 40 percent to exceed $1 billion in 2013, and is expected to reach $3.4 billion by 2018.
"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," Infonetics Research principal analyst Jeff Wilson said in a statement.
The report also states that worldwide revenue for mobile device security client software increased by 10 percent sequentially in the fourth quarter of 2013, to $385 million.
In 2013, enterprise mobile clients made up 51 percent of the total security client market, while consumer mobile security clients made up 49 percent. Asia Pacific accounted for 34 percent of security client revenue in 2013, followed by North America at 32 percent and EMEA at 31 percent.