Mobile device hardware security to be valued at $1.9bn in 2017

Mobile device hardware security to be valued at $1.9bn in 2017

The security of smartphones and tablets is becoming very important to businesses as they look to reduce the damage when a mobile device is lost or stolen.

It has become so crucial, that the need for high levels of data protection and security, along with the convenience of mobile use, will see the mobile device hardware security industry become worth $1.9 billion (£1.2 billion) in 2017.

According to ABI Research the current value of the industry, which stands at $430 million, will be dwarfed as more and more firms move to mobile devices.

Joshua Flood, senior analyst, devices, applications and content at the firm, said: "The primary drivers for embedded chip security are increasing demand of mobile payment transactions, digital rights management, enterprise protection, and control access to the device."

Mobile device management is one way that firms are boosting their security measures, with the technology providing organisations with the opportunity to remotely wipe lost or stolen handsets.