Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global Wireless Network Security Market size is expected to reach $57.7 billion by 2030, rising at a market growth of 12.8% CAGR during the forecast period.
The Solution segment acquired the highest revenue in the Global Wireless Network Security Market by Component in 2022; thereby, achieving a market value of $39.9 billion by 2030. The sizeable market share of this segment can be due to the increasing use of different wireless network solutions, including unified threat solutions, IAM, IPS/IDS, encryption, firewalls, and authentication, among others, to increase connection without sacrificing security. These solutions protect against harmful and unauthorized attempts to enter the wireless device network.
The Small & Medium Enterprises segment would witness a CAGR of 15% during (2023 - 2030). SMEs are particularly vulnerable to cyberattacks because of the low-security level caused by financial restrictions. Additionally, employees' lack of knowledge and abilities about security procedures is a factor in the regularity of cyberattacks on SMEs. Nevertheless, it is anticipated that the adoption of wireless network security solutions in SMEs will accelerate over the projected period due to the availability of low-cost wireless network security solutions and the growing relevance of cybersecurity.
The On premise segment generated maximum revenue in the Global Wireless Network Security Market by Deployment Type in 2022; thereby, achieving a market value of $28.7 billion by 2030. Large enterprises, which possess sensitive data and demand complete control over wireless network security solutions, mostly use on-premises wireless networking solutions, which supports the segment’s growth. Additionally, on-premises wireless network solutions assist end-user companies in maintaining the highest level of security and adhering to legal requirements.
The IT & Telecom segment would register a CAGR of 13.8% during (2023 - 2030). The increasing number of 5G devices and the advancement of IT infrastructure is anticipated to accelerate the implementation of wireless network security solutions in the IT & telecom sectors. The market participants are using various business methods to increase their sources of income and entice potential IT & telecom enterprises.
The North America region dominated the Global Wireless Network Security Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $20.6 billion by 2030. The Europe market is anticipated to grow at a CAGR of 12.4% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 13.7% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Check Point Software Technologies Ltd., Aruba Networks (Hewlett Packard Enterprise Company), Kaspersky Lab, Cisco Systems, Inc., Fortinet, Inc., Juniper Networks, Inc., Motorola Solutions, Inc., Sophos Group PLC (Thoma Bravo), Broadcom, Inc. (Symantec Corporation) and Trend Micro Inc.
By Enterprise Size
By Deployment Type
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