Security Software in Telecom Market Research Report- Forecast till 2025
Due to the massive expansion of LTE networks, the customers have been experiencing seamless connectivity across the globe. It has given a significant opportunity to the telecom industries to expand their networks and penetrate in urban, rural, and remote areas. Furthermore, a perpetual increase in the usage of internet, increasing need demand for data services, and rising adoption broadband adoption are some of the critical drivers for the telecom industry. The development of networks has also resulted in a higher number of cyber-attacks in the telecom industry. The Global Security Software in Telecom Market 2020 was valued at USD 3,599.4 million in 2018 and estimated to expand at a CAGR of 11.9% with a value of USD 8,923.5 million by 2025.
Telecom operators have often experienced attacks while signaling, metering, switching, and configuring the network. The increasing number of cyberattacks has motivated the security providers to develop a sustainable solution for the enterprises. Hence, the increase in data breach incidents has led to the demand for establishing secure networks.Inadequate infrastructure and inexpensive security solutions to implement IPV6 technology, which is the most recent version of internet protocol, are some of the factors that are hindering the expansion of security software in the telecom market.
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By component, the security software in the telecom market is classified into solutions and services.
By solution, the security software in the telecom market is segmented into identity and access management (IAM), risk and compliance management, encryption, data loss prevention (DLP), unified threat management, security information and event management (SIEM), distributed denial of service mitigation, firewall, and others.
By services, the market is categorized into professional services (risk assessment, design and implementation, support and maintenance, and others) and managed services.
By security, the market is segmented into network security, endpoint security, application security, cloud security, and others.
By deployment, the market is segmented into the cloud and on-premise.
By end-user, the market is segmented into large enterprises, small and medium enterprises (SMEs), and government.
The global security software in the telecom market has segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is estimated to dominate the security software in the telecom market. It has also been anticipated that it will retain the market during the forecast period. The advent of new technology and adaptation to it has led to considerable growth in the market. The rise in the deployment of IoT and the existence of internet-enabled solutions and cloud services have led to significant exposure to global security software in the telecom market. Canada and the US are facing a higher number of cyberattacks in the telecom sectors, which is one of the most significant reasons which increases the demand for security software.
Asia-Pacific is estimated to be the fastest-growing telecom market during the forecast period. With fast digitization, along with the developments in IoT and cloud computing has created a higher risk of cyber-attacks and security breaches. It resulted in a higher demand for global security software in the telecom market. It has encouraged the service providers to develop security solutions efficiently for the telecom operators. Countries like India, Japan, and China are growing at a faster pace, and hence, they contribute to the expansion of the market in the APAC region. Moreover, the increasing cyber-crime and strict government rules and regulations are speculated to increase the demand, thereby growing the market in the APAC region.
The prominent players of the global security software in telecom market are Symantec Corporation (US), IBM Corporation (US), Palo Alto Networks (US), Dell Inc (US), McAfee (US), and Trend Micro (Japan) Inc. are few of the most eminent players who contributed about 40% of the market share in 2018.
Other players like Check Point (US), Splunk (US), Amazon Web Services (US), Imperva (US), Qualys (US), F-Secure (Finland), HP Enterprise Development LP (US), FireEye (US), Oracle Corporation (US), Forcepoint (US), Fortinet (US), Microsoft Corporation (US), Proofpoint (US), F5 Networks (US), CyberArk (Israel), Sophos (UK), Juniper Networks (US), and, FireEye (US) have also played a key role and have secured position on the global security software in telecom market.
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Global Security Software in Telecom Market Research Report: Information by Component [Solution (Identity and Access Management (IAM), Risk and Compliance Management, Encryption, Data Loss Prevention (DLP), Unified Threat Management, Security Information and Event Management (SIEM), Distributed Denial of Service Mitigation (DDoS) and Firewall) and Services (Managed Services and Professional Services)], Deployment Mode (Cloud and On-Premise), Security Type (Network Security, Endpoint Security, Application Security and Cloud Security) and Region [North America (the US, Canada, Mexico), Europe (Germany, the UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India and the Rest of Asia-Pacific), the Middle East & Africa and South America] – Forecast till 2025
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