| | APRIL - 2021ENTERPRISE SECURITY6Mobile device usage has been growing rapidly, with smartphone users already reaching 3 billion worldwide and expected to exceed 3.8 billion by 2021. In the near future, we believe hardware-based cryptography will be more readily available, creating a new era of endpoint security for all mobile apps. Moore's Law--the consistent improvement in hardware capabilities while costs continue to decrease--means that it's inevitable that efficient hardware-based cryptography elements will reach all mobile devices eventually.In fact, the Apple ecosystem already has some hardware-based cryptography elements like Secure Enclave. This is a security coprocessor that's built into every Apple device to secure sensitive data, so app developers can store encrypted keys and other information. Apple also has complete control over the hardware within its ecosystem, which has enabled the company to more easily roll out new security features and get them adopted by mobile app developers. Google, on the other hand, has been playing catch-up with its Android ecosystem. It has been more challenging for Android to introduce hardware-based cryptography because the platform runs on a broad range of devices and hardware built by numerous manufacturers.As it stands today, mobile payments in the U.S. are expected to exceed $130 billion in 2020, up from only $12.8 billion spent in 2012. With hardware-based cryptography, the impact of the global pandemic, growth of online shopping, and other factors, mobile banking could become a central part of the new normal. With mobile apps handling personal financial information, increased security protections such as application hardening will become a necessity. Application hardening includes code hardening-- encrypting sensitive data and obfuscating the source code--and anti-tampering mechanisms during runtime. These security techniques can build further trust and adoption for mobile banking apps in the near future.Adoption of mobile IDs could also accelerate the adoption of mobile payments, both of which will lead to enormous growth in the mobile app industry. That's why mobile app developers should put a priority on security now to meet the standards of governments and enterprises that will rely on mobile IDs in the future. Further, IoT mobile OS adoption is already largely underway, with Google releasing a stripped-down version of its operating system called Android Things and Apple launching its IoT ecosystem HomeKit. These solutions are driving mobile and IoT developers to build software that leverages and supports all Internet-enabled devices for a more cohesive consumer experience.With all of these massive changes on the horizon, mobile app security will become even more critical. That means companies building mobile apps should consider mobile application security solutions.Let us know your thoughts.The Golden Age of Mobile SecurityEditorialRussell Thomas Managing Editor editor@enterprisesecuritymag.comAPRIL - 26 - 2021, Volume 07 - 05 Published by ValleyMedia, Inc. ISSN 2691-4034To subscribe to ENTERPRISE SECURITYVisit www.enterprisesecuritymag.com Copyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorRussell ThomasEditorial StaffAaron PierceAlex D'SouzaAva GarciaJustin S GonsalvesJoshua ParkerVisualizersIssac GeorgeSalesAlena D'Souzaalena@enterprisesecuritymag.comEmail:sales@enterprisesecuritymag.comeditor@enterprisesecuritymag.commarketing@enterprisesecuritymag.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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