Global technology company Appdome has launched its 2023 Global Consumer Expectations of Mobile App Security study, collating data from 25,000 users across 12 countries. Now in its third year and having attained inputs from 75,000 consumers in total, this comprehensive annual survey focuses on individuals' daily mobile app usage and aims to gauge their expectations and concerns regarding mobile app security and protection against fraud, malware and other mobile threats.

The study reveals that the majority of consumers are increasingly turning towards mobile applications over web or digital platforms. Most intriguingly, an astounding 82.4% of consumers are seeking a novel approach towards mobile fraud, advocating for proactive preventative measures instead of conventional reimbursement strategies after the fraud has taken place. This preference indicates a dramatic shift in attitudes towards fraud protection, and makes current anti-fraud solutions appear redundant.

Interestingly, over half of those surveyed (56.2%) believe that the responsibility of ensuring a safe consumer experience falls on the app developers and mobile brands. Moreover, the study finds that close to 42% of respondents have personally experienced or know someone close who has suffered a cyber-attack, mobile fraud or malware, underscoring the importance of robust mobile app security measures.

"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," voiced Richard Stiennon, founder and Chief Research Analyst at IT-Harvest and author of the study's introduction. "Mobile app security is critical to any mobile app strategy."

A noteworthy proportion of consumers (73.7%) express that if a mobile app they use experienced a breach, they would likely or very likely stop using it. Moreover, even the mere perception of lacking sufficient protection could deter 67.5% of consumers from using a mobile app. Not all is gloom, however. If mobile brands took steps to ensure the protection of their end users, a staggering 93.6% of consumers would engage in brand advocacy for mobile applications, spelling success for those apps.

The survey reveals that a dominant 85.6% of consumers prioritise protection against security threats, fraud, and malware over new features. Also, nearly half of the global consumers (48.4%) require "The best protection," which involves safeguarding the login and data, along with prevention of malware and mobile fraud. These insights emphasise the necessity for brands to rethink their security measures.

Reflecting on the study's findings, Tom Tovar, CEO and co-creator of Appdome expressed, "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. As more brands attempt to connect with their customers via mobile apps, it is imperative for them to work closely with cyber security teams to provide mobile app users with peace of mind when it comes to their demands for increased mobile app protection."

The study also uncovers that younger generations favour mobile apps over their older counterparts, particularly for purchases. Also, consumers' top fear while using mobile applications is "synthetic fraud," which includes identity theft and similar attacks (55.1%). Moreover, a rising 23.9% of respondents believe that mobile brands or developers show a lack of concern towards their security needs, marking a sharp increase of 256% from 2021.