Security Software in Telecom Market Trends, Application, Growth Rate, and Future Forecast till 2027 | Coronavirus Effects

 Market Highlights

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.

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.

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.

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Prominent Companies 

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.

Regional Analysis:

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.

Segmentation:

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.

 

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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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