Mobile security software revenues are set to increase six fold to $3.7 billion by 2016, according to a new report by Juniper Research (News - Alert). By that date enterprise and business sales will account for almost 69 percent of the market.

Juniper Research, which provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary in its new Mobile Security research found that businesses are now beginning to spend more on mobile device security applications as they become a critical part of enterprise policy.

“Enterprise users are in the front line against potential security breaches through insufficient mobile security and companies need to incorporate mobile network connected devices into the corporate network since this is the easiest way to enforce policies and to audit such devices” said Nitin Bhas, report author, in a statement.

The report noted that as more tablets are brought into the enterprise over the next five years, the proportion of tablets featuring security products will also increase and overtake the percentage of smartphones protected.

The report found that currently less than 1 in 20 smartphones and tablets have third party security software installed in them, despite a steady increase in threats

According to the report, 277 million mobile devices will have some kind of protection installed by 2016

Earlier in July, TMCnet  reported that a recent research from Juniper Research estimates that global smartphone shipments will reach one billion per annum in 2016, up from 302 million in 2010.

The market will be mainly driven by the availability of high-end handsets at competitive price. Juniper also believes the tough competition amongst vendors offering premium smartphones will also contribute for the growth of the market.  

In this scenario, Juniper believes the best opportunity for new players is through economy models (those with an unsubsidized retail value of $150 or less).

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