DUBLIN, February 24, 2016 /PRNewswire/ --
The global instant messaging market is expected to grow at a CAGR of 19.42% for consumer IM over the period 2015-2019, according to a report published on Research and Markets. Low cost data packages, free installation of apps, and high-speed internet access is boosting the growth of the IM market globally. This growth is evidenced by the news that mobile messaging application Telegram has surpassed 100 million users.
Telegram co-founder Pavel Durov told the Mobile World Congress in Barcelona that 15 billion messages a day are being sent daily using the service. While this is still well short of the 45 billion sent on rival Whatsapp, it marks a significant increase from the 12 billion figure registered in September. Telegram has become popular for its security features. All messaging traffic on the service is encrypted end-to-end and users also have the ability to set messages to delete themselves after being viewed.
A recent report on the mobile application security market expects it to be worth $2.5 billion by 2020, due to a growing demand from consumers and enterprises for end-to-end security solutions. One of the other major factors driving this market is the adoption of standards and privacy regulations. With the growth in the mobile device usage, the risk of data theft, phishing has also increased. This has encouraged organizations to roll out regulations to boost the demand for this market.
Telegram is currently a free service, with Durov funding the business using the estimated $300 million he received from the sale of VKontakte, a Russian social networking site, in 2014. The market for mobile applications is prosperous one, with growth expected at a rate of 31.05%. Mobile applications are dependent on expanding smartphone and tablet usage, which are becoming an integral part of urban and semi-urban lifestyles across the globe.
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SOURCE Research and Markets