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Demand increases for mobile security

As mobile devices gain increasing importance as business tools, the need to protect these tools and the information they contain from security breaches will cause the mobile security market to boom to US$ 1 billion by 2006, according to IDC.

As mobile devices gain increasing importance as business tools, the need to protect these tools and the information they contain from security breaches will cause the mobile security market to boom to US$ 1 billion by 2006, according to IDC.

The research group reveals that the market topped $75.3 million in 2001, but predicts that it will grow at a compounds annual growth rate (CAGR) of 69% over the next few years.

“The mobile security software market, while currently in its infancy, is poised for tremendous growth over the forecast period,” says Sally Hudson, research manager for IDC’s eBusiness infrastructure software service.

“This market presents a diversified opportunity for vendors as it will grow through technical innovation and partnerships, as well as through the demand for solutions targeted to vertical and horizontal industry needs,” she adds.

IDC also attributes growth in the mobile security market to the solidification of wireless standards, increasing consumer dependence on mobile computing, and predicts that the market will grow dramatically in next 12-24 months.

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