Global Wireless Network Security Market Insights Forecasts to 2030.

• The Global Wireless Network Security Market Size was valued at USD 24.35 Billion in 2022
• The Market Size is Growing at a CAGR of 13.3% from 2022 to 2032
• The Worldwide Wireless Network Security Market Size is expected to reach USD 85.45 Billion by 2032
• Asia-Pacific Market is expected to Grow the fastest during the forecast period

 

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The Global Wireless Network Security Market Size is expected to reach USD 85.45 Billion by 2032, at a CAGR of 13.3% during the forecast period of 2022 to 2032.

 

Wireless security is designed to prevent unauthorized people from accessing wireless networks and stealing sensitive information. The wireless protocol indicates the sort of wireless security deployed by a user. Wireless networking security solutions are a collection of IT systems, software, and hardware that secure wireless networks against assaults and data theft. With the increased popularity of wireless networks, enterprises must employ wireless network security solutions to protect themselves. Because wireless networks are used by the majority of enterprises now, adoption is high and will continue to grow in the future. Moreover, wireless networking has become popular and utilized by many homes and businesses. Wi-Fi is highly effective at keeping users connected to the internet 24/7. That benefit, combined with the lack of cable clutter, makes wireless networking even more desirable.

 

Driving Factors

Emerging technologies like artificial intelligence (AI), machine learning (ML), big data analytics, cloud, Blockchain, the Internet of Things (IoT), and robotic process automation (RPA), as well as their integration in wireless network solutions, are supporting market players in providing better cyber-attack security to their clients. The capacity of blockchain to improve the transparency, security, and traceability of data shared across numerous networks is accelerating its use in wireless network solutions. The increasing mobility of various organizations' workforces, as well as the growing acceptance of Bring Your Own Device (BYOD) policies to boost employee productivity, are producing a bright outlook for the wireless network security industry. These wireless network security solutions help businesses secure sensitive data on mobile devices and improve secure wireless collaboration among employees. The rising use of Wi-Fi in both the residential and commercial sectors is driving the growth of the wireless network security market.

 

Restraining Factors        

High initial costs, complexity, and compatibility issues with different wireless networks are expected to restrain the use of wireless network security solutions over the forecast period. Wireless networking solutions need more expertise for solution implementation in different environments. Small & medium size enterprises may need more resources to manage this solution, incurring more financial requirements. To deal with these issues, market players are focusing on developing user-friendly and easy to install and manage wireless network security solutions. 

 

Market Segmentation

By Component Insights

The services segment dominates the market with the largest revenue share over the forecast period.

On the basis of components, the global wireless network security market is segmented into solutions and services. Among these, the services segment is dominating the market with the largest revenue share over the forecast period. The segment's significant growth can be attributed to end-user businesses' growing demand for professional and managed services to build, maintain, and upgrade wireless network security systems at affordable prices. Among the primary components of the service are advanced troubleshooting, consultation, daily maintenance, cloud migration, network management, and unified communications. The main advantage of the services is that they provide 24*7 monitoring of wireless network security solutions and real-time reports, assisting network administrators in managing wireless network security solutions and so promoting segment growth during the forecast period.

 

By Deployment Insights

The cloud segment is witnessing significant CAGR growth over the forecast period.

On the basis of deployment, the global wireless network security market is segmented into cloud and on-premise. Among these, the cloud segment is witnessing significant CAGR growth over the forecast period. Cloud-based wireless network security solutions are growing in popularity due to many benefits, including low maintenance costs, increased flexibility, centralized data security, and quick application deployment. Cloud-based solutions minimize the need for additional software or hardware to handle wireless network security solutions, resulting in a positive outlook for category growth. The significant cost savings associated with cloud-based wireless network security solutions are driving various end-user businesses to transition to cloud-based solutions, hence helping the wireless network security market's growth.

 

By Enterprise Size Insights

The large enterprise segment is expected to hold the rapid revenue growth of the global Wireless Network Security market during the forecast period.

Based on the enterprise size, the global wireless network security market is classified into large enterprises and SMEs. Among these, the large enterprise segment is expected to grow at a rapid pace during the forecast period. Over the wireless network, large enterprises risk a variety of cyberattacks, data breaches, and other illegal activities. Data theft in these businesses can result in considerable financial losses for the corporation. To avoid this, most large organizations employ wireless network security solutions to safeguard critical data and control data transmission across various devices, hence promoting segment growth. Furthermore, the implementation of Bring Your Own Device (BYOD) principles, as well as the increase in complexities in IT departments as a result of huge workforces, need the use of comprehensive security solutions in large companies.

 

By End-Use Insights

The BFSI segment is projected to grow at the highest CAGR in the market during the forecast period.

On the basis of end-uses, the global wireless network security market is segmented into BFSI, retail, IT & Telecom, healthcare, manufacturing, government & defense, and others. Among these, the BFSI segment grows at the highest CAGR growth over the forecast period. The enormous market share can be attributed to banks, insurance firms, and financial institutions' rising security awareness to protect sensitive financial data and secure payment processes. This has increased demand in the BFSI sector for wireless network security solutions. To keep up with the changing market demand, businesses in the wireless network security market are collaborating with end-user organizations to build effective wireless network security solutions.

 

Regional Insights

North America dominates the market with the largest market share over the forecast period.

 

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North America is dominating the largest market share over the forecast period. The wireless network security market in North America is driven by the growing popularity of the BYOD concept, and rising security breaches. North America’s advanced technological infrastructure, widespread digital adoption, and extensive use of wireless networks create a fertile ground for security solutions. Escalating cyber threats and high-profile data breaches have prompted businesses to prioritize robust wireless security measures. Additionally, demanding regulatory frameworks and compliance requirements drive the adoption of superior security solutions. The rising connectivity of Internet of Things (IoT) devices further emphasizes the need for comprehensive wireless network protection, contributing to the industry's remarkable growth in North America.

 

Asia-Pacific market is expected to grow the fastest during the forecast period, owing to the development of 5G infrastructure, the increasing number of smartphone users, and the SMEs' emphasis on improving the performance and security of their wireless infrastructure. Moreover, the governments of different Asian Pacific countries are investing in smart city programs, which can increase demand for wireless network security solutions to protect their digital infrastructure, this will drive the wireless network security market during projected period.

 

List of Key Market Players

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

 

Key Market Developments

• In May 2023, Edgecore Networks, a provider of traditional and open network solutions for enterprises, data centers, and telecommunication service providers partnered with Wedge Networks to offer a next-generation network security solution to its customers.  This partnership offers Edgecore's customers access to a wide range of Security-as-a-Service (SECaaS) features integrated into their networks, providing Wi-Fi network security protection.

 

• In March 2023, Nimble Wireless, a manufacturer of cloud-based wireless security solutions, was bought by Aruba Networks (HPE). Aruba will benefit from this acquisition as it expands its cloud capabilities and competes with other prominent wireless security companies.

 

• In February 2023, Cisco Systems acquired Epyon Networks, a provider of wireless intrusion prevention systems (WIPS). This acquisition will help Cisco expand its portfolio of wireless security solutions.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global wireless network security market based on the below-mentioned segments:

 

Wireless Network Security Market, Component Analysis

• Solutions
• Services

 

Wireless Network Security Market, Deployment Analysis

• Cloud
• On-premise

 

Wireless Network Security Market, Enterprise Size Analysis

• Large Enterprises
• Small & Medium Enterprises (SMEs)

 

Wireless Network Security Market, End-User Analysis

• BFSI
• Retail
• IT & Telecom
• Healthcare
• Manufacturing
• Government & Defense
• Others

 

Wireless Network Security Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa