The global security software in telecom market 2020 was valued at USD 3,599.4 Million in 2018 and can touch a valuation of USD 8,923.5 Million by 2025, reveals Market Research Future (MRFR). The market expansion can occur at a rate of 11.9% during the forecast period (2019 to 2025).
Growth Boosters and Key Restraints
The telecom industry provides a passage for data sharing via radio, wire, optical, or electromagnetic waves. The service providers have successfully taken the industry to greater heights since realizing its potential to impact the economy of a country. Sensing the opportunity, the providers came up with the Internet-of-Things (IoT), which has simplified the entanglement brought on by the previous system. With that said, the emergence of IoT has also led to a surge in cybercrimes. Data breach is proving to be a significant concern for companies and is boosting the demand for security software in telecom market.
Cyber-attacks have increased at an exponential pace in recent years, and this exacerbated situation calls for advanced cybersecurity solutions. Increasing adoption of advanced technologies, mounting need for network security, and surging internet penetration are collectively inducing the growth of the security software in telecom market all across the globe.
MRFR experts project that the security software in telecom industry can note significant growth in the next couple of years, with the increasing number of testing laboratories all over the world. Keeping in mind the employee safety, a number of organizations are organizing tests in offices to avoid any illegitimate activity and are increasingly making high demand for security software in telecom market.
Security Software in Telecom Market Trends
Over the years, the cloud industry has noted exponential growth among technology-based companies, including the telecom sector. The telecom industry has realized the advantages offered by the cloud systems, where cloud services are now the backbone of various business operations. The rising adoption of cloud services in the telecom industry is expected to favor the market growth in the coming years.
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The global market for security software in telecom has been dissected with respect to deployment type and application.
The deployment types evaluated in the report are cloud and on-premise. The on-premise segment has taken the lead in the global market and had been valued at USD 1,745.3 million in 2017. The segmental value can potentially go up to USD 4,610.8 million by 2025, and expand at a rate of 13.1% during the review timeframe. The cloud segment can achieve a faster growth rate of 14.7% in the coming years and touch a valuation of USD 4.313 million by the end of the given timeline.
Application-based segments in the security software in telecom market are small & medium enterprises (SMEs), government organizations as well as large enterprises. Large enterprises are the leading segment and was worth USD 1,321.1 million in 2017, while the government organizations segment can reach a valuation of USD 3,553.4 million by 2025. But, it is the SMEs segment that can achieve the fastest growth rate of 15.3% in the years ahead.
The security software in telecom market size is all set to expand lucratively in the regions of Europe, North America, Asia Pacific (APAC), along with the Rest-of-the-World (RoW).
North America is currently the leading market for security software in telecom and was estimated at USD 1162.9 million in 2017. The infrastructural superiority, as well as the high concentration of renowned companies, gives the region an edge in the global market. The North American market can attain a valuation of USD 2886.7 million and expand at a rate of 12.2 % during the evaluation period.
Europe, backed by high infrastructural development, gives tough competition to North America. The regional market is on track to accrue a market valuation of close to USD 2706 million and advance at a rate of 14.6% in the years to come. Moreover, the rising incidences of security breaches, surge in managed security services, and technological advancements in cloud security software are giving rise to lucrative opportunities for security software in telecom market in the region.
The APAC market shows a lot of promise, with emerging countries like India and China exhibiting maximum growth potential. The market in APAC can procure the fastest growth rate of 15.5% during the review period to touch a valuation of USD 1651,7 million by 2025. Increasing rate of digital connectivity and the rise in digital transformation have made the region quite vulnerable to cyber exploitation, which boosts the need for security software in telecom.
Some of the prominent companies having major influence over the global market for security software in telecom include IBM (U.S.), F-Secure Corporation (Finland), AVG Technologies (The Netherlands), Fortinet (U.S.), Imperva (U.S.), Trend Micro Inc. (Japan), Cisco Systems Inc. (U.S.), Symantec (U.S.), McAfee (U.S.), Dell EMC (U.S.), Check Point Software Technologies Ltd. (U.S.), and others.
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