, the mobile app economy’s one-stop shop for mobile app defense, has announced the results of its new 2023 Global Consumer Expectations of Mobile App Security study. The report features detailed data and responses from 25,000 consumers who provided insights about their mobile app usage, as well as their expectations and desires around mobile app security and protection against fraud, malware and other mobile threats.

The 12-country survey, now in its third year with 75,000 consumers interviewed, is seen as the benchmark for measuring consumer attitudes and concerns regarding mobile app security for the apps they use daily. This year’s survey again found that mobile apps are the preferred channel globally over web / digital platforms, and that consumers care deeply about mobile app security.

The major takeaways in this year’s survey are:

• An overwhelming majority of consumers (82.4%) are mandating a new approach to mobile fraud – to proactively prevent fraud before it happens, as opposed to reimbursing them after the fraud has occurred. This represents an overwhelming shift in the fraud protection approach, and all but renders existing anti-fraud solutions obsolete.
• More than half of consumers surveyed (56.2%) said mobile brands and app developers should be responsible for ensuring a safe consumer experience, far exceeding all other choices.
• Four out of ten people (41.8%) say they or a close friend/relative have been the victim of a cyber-attack, mobile fraud or malware.

“Given these findings, the mobile brands and businesses looking to drive adoption, lower the cost of customer acquisition, and achieve higher transaction volumes should take note,” said Richard Stiennon, founder and Chief Research Analyst at IT-Harvest, author of the introduction to this year’s survey. “Mobile app security is critical to any mobile app strategy.”

A lack of in-app protections against security threats, fraud and malware can have dire consequences for mobile brands, with an eye-opening 73.7% of consumers stating that they would likely or very likely stop using a mobile app if it experienced a breach. Similarly, 67.5% of consumers stated that they would stop using a mobile app based merely on the perception that the app lacked sufficient protection. On the flip side, mobile brands can reap rewards by protecting their mobile end users: an overwhelming 93.6% of consumers say that they would engage in multiple forms of brand advocacy for mobile applications that meet or exceed their security expectations, contributing to the app’s success.

Global consumers’ want more security vs. features
With consumers increasingly shifting away from web-based channels, a strong demand for mobile app security has emerged with an overwhelming number of respondents, 85.6%, indicating that protecting them against security threats, fraud and malware is equally or more important than new features. Similarly, 48.4% of global consumers stated that they require “The best protection,” when using mobile apps, meaning, “protect the login and the data, stop malware and prevent mobile fraud. This is 554% higher than the number of global consumers that said protecting the login alone was sufficient. These revelations should prompt consumer brands and cyber teams to work together and shift their mindset and security budgets to mobile-first.

“Mobile apps remain a dominant force in the consumer landscape, shaping a narrative where the very foundation of brand loyalty could be anchored in security,” said Tom Tovar, CEO and co-creator of Appdome. “As more brands attempt to connect with their customers via mobile apps, it is imperative for them to work closely with cybersecurity teams to provide mobile app users with peace of mind when it comes to their demands for increased mobile app protection.”

Additional results from the 2023 Global Consumer Survey include:

• Not unexpectedly, younger consumers outpace their older counterparts when it comes to mobile app use in general and specifically for making purchases. For example, 59.6% of 25- to 44-year-old consumers and 51.5% of 18- to 24-year-old consumers prefer using mobile apps for purchases, compared to only 41.7% of consumers over 45. In all age groups, mobile app use ranks above digital/web channels. More than 40% of consumers are spending more time on mobile apps, with rideshare, health and wellness, and travel apps enjoying the biggest gains in usage with increases of 17.3%, 13.3%, and 8.6% respectively compared to 2022.
• 55.1% of global consumers ranked “synthetic fraud,” which includes identity theft, account takeovers (ATOs), fake apps/transactions and similar attacks as their top fear when using mobile applications.
• 23.9% of respondents believe that the mobile brand or developer doesn’t care about their security needs, which is the fastest-growing concern, up from only 6.7% in 2021, an increase of 256%.

Survey Demographics
The survey included respondents from across the demographic spectrum, including Android and iOS users, different generations, genders, countries and economic backgrounds. For the full report visit: https://www.appdome.com/global-consumer-cyber-security-survey/.

Source: Press Release

Read More

Navratri 2023: Unveiling The Importance Of Sharadiya Durga Puja

Illuminate brilliance: Goldmedal Electricals launches Jugnoo LED downlights