Wireless Network Security Market to be Worth $59.66 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, July 12, 2023 /PRNewswire/ -- The global wireless network security market size is estimated to reach USD 59.66 billion by 2030, expanding at a CAGR of 12.5% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The wireless network security market growth can be attributed to the growing number of cyberattacks, increasing adoption of Bring Your Own Devices (BYOD), and advancements in various wireless networking solutions such as unified threat solutions, Identity and Access Management (IAM), and Intrusion Prevention System (IPS)/Intrusion Detection System (IDS), among others. Further, the Covid-19 pandemic led work from home concept accelerated the adoption of wireless devices, which forced companies to implement wireless network security solutions to strengthen the security of wireless devices and keep the enterprise data.

Key Industry Insights & Findings from the report:

• The services segment is expected to register a CAGR of 13.8% from 2023 to 2030. The shifting various end-use companies focus on professional and managed services to implement wireless network security solutions with minimum costs and improved operational efficiency. Furthermore, rising demand for efficient network administration and unified communication solutions is expected to propel the adoption of managed services in the forecast period.
• The cloud segment is expected to register a CAGR of 13.8% from 2023 to 2030. The cloud segment is expected to witness considerable growth during the forecast period owing to its various benefits, such as low operating costs, the minimum requirement of hardware and software, availability of diverse subscription packages, and enhanced network security, among others.
• The Small & Medium-sized Enterprises (SMEs) segment is expected to witness the highest CAGR of 15.6% from 2023 to 2030. Availability of low-cost and custom wireless networking solutions and SMEs' inclination towards strengthening their cybersecurity to avoid any security breaches is supporting the growth of the wireless network security market in SMEs.
• The IT & telecom segment is anticipated to expand at a CAGR of 14.6% from 2023 to 2030. The advancements in wireless technologies and high adoption of 5G and 6G wireless services by telecommunication companies to improve their services are driving the growth of the wireless network security market in the IT & telecom sector. Further, telecommunication companies.
• The Asia Pacific segment is anticipated to expand at a CAGR of 14.1% from 2023 to 2030. The Asia Pacific wireless network security market is fueled by rapid advancements in digital infrastructure, the proliferation of connected devices, and significant penetration by global market players.

Read full market research report for more latest Insights, "Wireless Network Security Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Deployment (Cloud, On-premise), By Enterprise Size (Large Enterprises, SMEs), By End Use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Wireless Network Security Market Growth & Trends

With the advent of new technologies, and the internet, organizational networks are becoming more prone to cyber-attacks for data theft. These organizations are integrating wireless network security solutions in their businesses to guard themselves from unauthorized access, and malicious activities. The advancements in emerging technologies such as Machine Learning, big data analytics, Artificial Intelligence, Blockchain, and cloud computing, are creating positive outlook for the wireless network security market. The companies operating in the wireless network security market are investing in their R&Ds to develop advanced wireless network security solutions to attract potential audience and increase their revenue stream. For instance, in September 2022, Nokia Corporation, a telecommunication company, launched its new brand AVA (Automation, Visualization, Analytics) and will develop its Operation Support System (OSS), Business Support System (BSS), and security software applications under this brand. The AVA provides advanced security solutions with various features such as no code configuration, AI & ML integration, multi-cloud orchestration, and open Application Programming Interfaces (APIs), creating a favorable environment for the wireless network security market.

The rising awareness of wireless network security importance is propelling their adoption in various end-use sectors such as retail, BFSI, healthcare, government & defense, transportation & logistics, energy & utilities, and education, among others. The industry players emphasize developing end-user specific wireless network security solutions to improve their customer base and brand positioning. For instance, in July 2022, a provider of IT systems and data solutions for clinicians and analysts, NHS Digital, opened the Wireless Centre of Excellence to develop cutting-edge wireless network security technologies for 5G-connected hospitals, and medical facilities.

Wireless Network Security Market Report Scope        

Wireless Network Security Market Segmentation

Grand View Research has segmented the global wireless network security market based on component, deployment, enterprise size, end use, and region:

Wireless Network Security Market - Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Solution
• Encryption
• Firewall
• Identity and Access Management
• Intrusion Prevention System (IPS)/Intrusion Detection System (IDS)
• United Threat Solutions
• Others (Content Filtering, Authentication, Data Loss Prevention)
• Services
• Professional Services
• Managed Services

Wireless Network Security Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• Cloud
• On-premise

Wireless Network Security Market - Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Large Enterprises
• Small and Medium-sized Enterprises

Wireless Network Security Market - End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI
• Retail
• IT & Telecom
• Healthcare
• Manufacturing
• Government & Defense
• Others (Entertainment, Education, Energy & Utilities, Transportation & Logistics)

Wireless Network Security Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• U.A.E
• Saudi Arabia
• South Africa

List of Key Players in the Wireless Network Security Market

• ADT Inc.
• Amazon Web Services, Inc.
• Broadcom, Inc.
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• Dell Technologies, Inc.
• Fortinet, Inc.
• Hewlett Packard Enterprise Development LP (Aruba Networks)
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• International Business Machines Corporation
• Juniper Networks, Inc.
• Motorola Solutions, Inc.
• Palo Alto Networks, Inc.
• Sophos Ltd.

Check out more market research studies published by Grand View Research:

• Managed Security Services Market - The global managed security services market size is expected to reach USD 87.5 billion by 2030, growing at a CAGR of 15.4% from 2023 to 2030, according to a recent report from Grand View Research, Inc. Factors such as the growing demand for outsourcing services across various BFSI, healthcare, manufacturing, IT & telecommunication industries, and the enterprises focus on their key competencies are expected to drive the market's growth.
• Network Security Sandbox Market - The global network security sandbox market size is expected to reach USD 40.48 billion by 2025, according to a new report by Grand View Research, Inc. The convergence between information technology and Internet of Things (IoT) has paved the way for the cyber security breaches. The absence of requisite identity and access management provision in the IoT technology raises the vulnerability of the majority of the business organizations to the malicious malware attack. The adoption of latest and advanced intrusion prevention solution thus became part and parcel for the business enterprises to protect sensitive information from the data security breach.
• Container Security Market - The global container security market size is expected to reach USD 9.88 billion by 2030, expanding at a CAGR of 26.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market is poised for growth due to various factors including the increasing adoption of cloud technologies, the rise of mobile computing, integration of advanced technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and Machine Learning (ML) with security solutions, and organizational focus on achieving higher productivity and profitability through digital transformation.

Browse through Grand View Research's Network Security Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.