Rising Threats Seen As A Boon For Mobile Security Industry

According to a new report, rising cyber threats to smartphones will lead to a new golden era for mobile security software companies.

Though there have already been numerous reported incidents of security breaches in smartphones, a new report by Reuters has revealed that the trend is alarmingly on the rise now.

"We've seen (security) issues on all platforms, Nokia's Symbian, Apple's iOS and Android," said Lookout's founder John Hering.

The report also claimed that the rise in threat for smartphone devices has eventually led to a big boost in the security software markets all across the globe.

“The mobile security market will one day be bigger than that of computers,” Neil Rimer, co-founder of Index Ventures, told Reuters.

“It’s a no-brainer that people will pay to protect their devices, and the market will not be owned by one big player,” he added.

According to Infonetics, a leading market research firm, the sales-figure of mobile security software will increase by almost 50 percent per year until 2014 when it will surpass $2 billion.

In the meantime, US telecom giant AT&T has revealed that it intends to start marketing a new security solution to its customers next year.