Research firm: Smartphone security market booming

The smartphone security market is booming.

The global market for such products is expected to grow by 44 percent a year before reaching some $3 billion in 2016, according to a report by research firm MarketsandMarkets

With a boom in the use of smart devices, such as BlackBerries, Androids and iPads — especially by business and government entities — it’s perhaps only natural the market for security is nearly just as hot.

The report found the Asia-Pacific region has the fastest projected growth rate, at 49 percent. It also predicted the security market for the Android OS will grow fastest with a 65 percent annual growth rate.

This story is part of Federal News Radio’s daily Cybersecurity Update. For more cybersecurity news, click here.

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