Overview
The security software in telecom market is garnering significant traction across the globe. The market growth attributes to expanding telecom networks due to the seamless connectivity with the emergence of LTE networks. The telecom sector is growing by leaps and bound, spreading its networks across the urban, rural, and remote areas. Besides, the increasing internet penetration and growing broadband adoption drive the growth of the market. Moreover, the rising need for data services escalates market growth.
According to Market Research Future (MRFR), the Security Software in Telecom Industry
is poised to create a valuation of approximately USD 8,923.5 MN by 2025, registering 11.9% CAGR throughout the assessment period (2019 – 2025). Growing threats of cyber-attacks on telecom networks and cloud data create substantial market demand. Also, there is a significant rise in cloud services and confidential data stored on cloud storage of an organization.
Additionally, the spurting rise in usages of mobile and IoT devices accelerate the growth of the market. Furthermore, the availability of sustainable solutions for enterprises, alongside the increase in data breach incidents, promotes the need for established secure networks. Rising innovation and digital transformation in organizations increase market sales, leading to dramatic digital technologies and cloud computing developments. Moreover, the burgeoning IT & telecom sector contributes to the growth of the market.
Conversely, the presence of inexpensive security solutions and insufficient infrastructure to implement IPV6 technology are major factors projected to obstruct market growth. Nevertheless, advances in telecom security solutions would support market growth throughout the assessment period. Besides, the internet and smartphone penetration accelerates the market demand, increasing access to the cloud drive. Similarly, the increasing adoption of automation & IoT device usages foster the growth of the market.
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Security Software in Telecom Market – Segments
The report is segmented into five dynamics;
By Component : Solutions {identity & access management (IAM), risk & compliance management, encryption, data loss prevention (DLP), unified threat management, security information & event management (SIEM), distributed denial of service mitigation (DDoS), firewall, others} and Services {Professional Services (risk assessment, design & implementation, support & maintenance, others) and Managed Services}.
By Security Type : Network Security, Endpoint Security, Application Security, Cloud Security, and others.
By Deployment Type : On-Premises and On-Cloud.
By End User : Large Enterprises, Small and Medium Enterprises (SMEs), Government, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Security Software in Telecom Market – Competitive Landscape
Highly competitive, the security software in telecom market appears to be fragmented, with many well-established players forming a competitive landscape. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion and, product & technology launch to gain a substantially larger competitive share.
They make substantial investments to drive R&D activities and expand their global footprints. Telecom security software companies strive to develop advanced technologies entirely on a different level.
Security Software in Telecom Market – Geographical Analysis
North America dominates the global security software in telecom market. The largest market share attributes to the increase in deployment of IoT and the availability of internet-enabled solutions and cloud services. The augmenting demand due to rising numbers of telecom networks and infrastructures in the region drives market growth, offering a favorable platform for cloud security.
Moreover, vast advances in security technologies and the spurring rise in telecom industries substantiate the regional market growth, creating a substantial demand for security solutions. The US and Canada stimulate the demand for security software, experiencing high cyberattacks in the telecom sector.
Europe stands second in the global security software in telecom market. The market growth is driven by the rapidly developing telecom networks in the region. Additionally, growing industries in the region create substantial market demand and advances in security solutions and cloud technology.
Furthermore, faster implementation of advanced technologies and the well-established infrastructure in the region push the market growth, posing cybersecurity challenges. Simultaneously, increasing numbers of cyber-attacks in the telecom industry propel the development of the market.
The security software in telecom market in the Asia Pacific region is growing briskly. Factors such as the rapid digitization coupled with the advancements in IoT and cloud computing technologies in this region. Furthermore, increasing numbers of cyber-attacks in the telecom sector in the region substantiate market growth. Similarly, stringent government regulations to control increasing cyber-attacks on mobile networks create huge market demand.
Industry/Innovation/ Related News:
October 27, 2020 ---- Akamai Technologies, Inc. (the US), a global content delivery network, cybersecurity, and cloud service company, announced the acquisition of Ireland-based telecom security platform Asavie to advances 5G & IoT security strategy. Akamai intends to expand its ability to protect enterprise mobile and cellular devices in an increasingly 'office anywhere' environment.
The addition of Asavie would help Akamai to address enterprise and mid-market customer demand for IoT and mobile device security and management services. In addition to impending large-scale 5G and IoT deployments, the acquisition would support the growing demand for better network security for employees working from home due to the Covid-19 crises.
Major Players:
Players active in the global telecom security software market are
- IBM Corporation (US)
- Symantec Corporation (US)
- Dell Inc (US)
- McAfee (US)
- Oracle Corporation (US)
- Check Point (US)
- CyberArk (Israel)
- Qualys (US)
- Imperva (US)
- Amazon Web Services (US)
- HP Enterprise Development LP (US)
- F-Secure (Finland)
- FireEye (US)
- Fortinet (US)
- Forcepoint (US)
- Trend Micro (Japan) Inc.
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Security Software in Telecom Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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