Wireless Network Security Market

Global Wireless Network Security Market Research Report: By Component (Solution, Services), By Deployment (Cloud, On-premise), By Enterprise Size (Large Enterprises, SMEs), End-User Industry (BFSI, Healthcare, Retail, Manufacturing, IT & Telecom, Government, Aerospace and Defense, and Other) and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.

ICT & Media | October 2023 | Report ID: EMR00241 | Pages: 217

The Global Wireless Network Security Market was valued at USD 23.65 billion in 2022 and is estimated to reach approximately USD 69.64 billion by 2031, at a CAGR of 12.8% from 2023 to 2031. The protocols and mechanisms put in place to protect wireless communication and data transfer are known as wireless network security. In Wi-Fi networks, it seeks to safeguard against unauthorized access, data eavesdropping, and network breaches. The confidentiality, integrity, and availability of data in wireless networks are often ensured by security methods such as encryption, stringent password policies, network monitoring, and firewall protection. The increased usage of wireless technology across numerous industries has resulted in exponential growth in the market for wireless network security in recent years. It includes the methods, devices, and technological advancements used to protect wireless networks from various online dangers and unauthorized access. The growth of wireless devices, such as smartphones, tablets, and IoT devices, has increased the attack surface for possible cyber threats and is one of the key factors driving the market's expansion. Due to this, both companies and private individuals are making investments in powerful security solutions to safeguard their wireless networks and critical data. Solutions for wireless network security include VPNs, intrusion detection systems, and encryption protocols like WPA3. In order to strengthen security by identifying and thwarting threats in real-time, emerging technologies like machine learning and AI are also being incorporated. Secure wireless networks are frequently utilized by sectors like healthcare, finance, and vital infrastructure, making them attractive targets for hackers. As a result, the need for wireless network security solutions is further fueled by strict laws and compliance requirements. The market is also impacted by the BYOD (Bring Your Own Device) movement and the increased prevalence of remote work, which calls for strong security measures to guard corporate networks from potential breaches via employee-owned devices. The Wireless Network Security market is experiencing rapid growth due to increasing wireless device adoption, evolving cyber threats, regulatory requirements, and the need for secure remote connectivity in today's digital landscape. This market is expected to continue expanding as technology evolves and security threats persist.

 

 

WIRELESS NETWORK SECURITY MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2022)

23.65 Bn

Projected Market Value (2031)

69.64 Bn

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Component, By Deployment, By Enterprise Size, By End-User Industry, & Region

Segments Covered

By Component, By Deployment, By Enterprise Size, By End-User Industry, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Wireless Network Security Market Dynamics

A complex interplay of different elements that affect the growth, evolution, and challenges of the wireless network security industry is what defines its dynamics. The ongoing development of wireless technology is one key aspect that creates both new opportunities and threats. Strong security solutions are increasingly necessary as wireless networks grow in size and complexity. Threats to cybersecurity are a key factor in this sector. Wireless network security is always being pushed to its limits by bad actors, such as hackers and cybercriminals, whose techniques are constantly changing. Security firms must constantly innovate and adapt in order to keep up with new threats in this dynamic. Regulatory factors also exert a significant influence. Governments and industry bodies worldwide are enacting stricter data protection and privacy regulations, compelling organizations to invest in compliant wireless network security measures. Failure to comply can result in severe penalties and reputational damage. The market's dynamics are further shaped by the increasing reliance on wireless connectivity in diverse sectors, including healthcare, finance, and manufacturing. This expanded usage widens the potential attack surface, making wireless network security a top priority for businesses and institutions. Additionally, the growth of Internet of Things (IoT) devices and the global shift towards remote work are changing the environment. Secure wireless connections are required for remote work, and IoT devices create new vulnerabilities that need to be fixed. The growth of wireless technology, the persistent evolution of cyber threats, regulatory restrictions, the expansion of wireless usage, and the incorporation of IoT devices are the key factors driving the wireless network security market. For security companies and organizations looking to safeguard their wireless networks, these dynamics create a dynamic and difficult environment.

 

Global Wireless Network Security Market Drivers

  • Expanding Wireless Device Ecosystem

This market driver emphasizes the market's ubiquitous effect from a wide range of wireless devices that are always expanding. Wireless-enabled devices have proliferated explosively in recent years, including smartphones, tablets, laptops, smart home appliances, wearable technology, and an Internet of Things (IoT) that is becoming more interconnected. Network security is now of the utmost importance due to the expansion of the wireless device ecosystem's potential attack surface for cyber-attacks. Cybercriminals can take advantage of multiple vulnerabilities that these devices' sheer quantity and diversity present. The prevalence of unauthorized access attempts, data eavesdropping, and device compromise has increased along with the proliferation of wireless endpoints. In order to safeguard sensitive data and network integrity, organizations and individuals are realizing the urgent need for strong security measures. The expanding wireless device ecosystem drives the demand for innovative and comprehensive security solutions that can keep pace with the evolving threat landscape, ensuring that wireless networks remain secure and resilient in an increasingly interconnected world.

 

  • Increased Reliance on Wireless Connectivity

The increasing reliance of many businesses on wireless networks for day-to-day operations is highlighted by this driver. To improve productivity, accessibility, and scalability, industries like healthcare, banking, manufacturing, and retail are progressively adopting wireless technology. Wireless networks enable real-time monitoring, data transfer, and seamless communication, easing operations and allowing businesses to compete in the digital age. However, because of this increased reliance on wireless communication, effective wireless network security solutions are more crucial than ever. As in the case of patient records in healthcare, financial transactions in banking, or confidential designs in manufacturing, these sectors work with sensitive and frequently confidential data. The imperative to ensure uninterrupted and secure wireless connectivity drives organizations to invest in cutting-edge security measures. They need solutions that not only protect against external cyber threats but also maintain network integrity, confidentiality, and availability.

 

Restraints:

  • Complexity and High Cost of Implementation

A significant market limitation is the difficulty and expense of putting effective wireless network security measures in place. Security is crucial, but the resources needed to implement it can put a strain on organizations' finances and resources, especially smaller firms. Purchasing specialized gear and software, doing vulnerability analyses, and creating security rules are all common steps in the process of setting up comprehensive security. Organizations also require qualified IT staff to configure, maintain, and monitor these security measures. Since these expenses can rise quickly, adopting strict security measures can be difficult for companies with minimal funding. Furthermore, the complexity of security implementations can lead to operational challenges. It may require extensive training and expertise, which smaller organizations might lack. This complexity can also slow down the deployment process, potentially leaving networks vulnerable during the transition.

 

  • Interoperability Challenges

The market for wireless network security is significantly constrained by interoperability issues. Organizations frequently run into problems when integrating different security solutions and technologies into their current network infrastructure as they attempt to defend their wireless networks against evolving threats. One of the main problems is that security products and protocols from various suppliers might not operate together properly. A unified and thorough security environment can be difficult to develop as a result of compatibility problems. As a result, security measures can not work as intended resulting in conflicts, which can lead to network vulnerabilities or operational disruptions. Moreover, upgrading or adding security layers to legacy systems can be particularly problematic. Older equipment and protocols may lack the necessary interfaces or support for modern security features, making it necessary to invest in costly hardware or software upgrades.

 

Opportunities:

  • Deployment of 5G Networks

The rollout of 5G networks opens up a sizeable and varied opportunity in the market for wireless network security. Faster, more dependable, and extremely interconnected wireless networks are promised as 5G technology spreads. Strong security measures are necessary because of the increased speed and increased network capacity, which also increases the potential attack surface for cyber threats. Security vendors have a distinct chance to create and deploy specialized 5G security solutions designed to handle the particular difficulties of these networks. This includes guarding against dangers like malware that can take advantage of the faster bandwidth and lower latency of 5G, man-in-the-middle attacks, and vulnerabilities particular to 5G. Additionally, 5G enables the proliferation of IoT devices and applications, further increasing the demand for security solutions to safeguard these connected devices and the data they generate. Security measures like network slicing and secure edge computing for 5G networks become crucial for maintaining data confidentiality and network integrity.

 

  • IoT Proliferation

The Internet of Things (IoT) is expanding quickly, creating a sizable and exciting potential in the wireless network security industry. IoT devices are being incorporated more deeply into our daily lives and numerous industries, ranging from smart home appliances to industrial sensors. But this quick uptake of IoT also makes vulnerabilities visible that call for specialized security remedies. There are numerous chances for security service providers to create and supply complete IoT security solutions. These solutions must handle the particular difficulties posed by IoT, including the wide variety of device kinds, the processing power limitations, and the extensive deployment. IoT security includes intrusion detection systems that are adapted to IoT-specific vulnerabilities, authentication and authorization processes, and encryption protocols. As the IoT ecosystem expands, there is a growing demand for security measures that protect both the devices and the data they generate and transmit. Security providers can also seize opportunities to offer centralized management platforms that enable users to monitor and secure their IoT networks efficiently.

 

Segment Overview

By Component

Based on the component, the global wireless network security market is divided into solutions and services. The solutions category dominates the market with the largest revenue share of around 64.9% in 2022. This segment includes the various software and hardware products designed to protect wireless networks from security threats. These solutions encompass a wide range of technologies, such as firewall systems, intrusion detection and prevention systems, encryption tools, access control mechanisms, and authentication protocols. Solutions are the building blocks that organizations implement to fortify their wireless network security. Complementary to security solutions, the services segment comprises the expertise, support, and guidance necessary to implement, manage, and optimize security measures effectively. This includes services like consulting, risk assessment, security policy development, network monitoring, incident response, and managed security services.

 

By Deployment

Based on the deployment, the global wireless network security market is categorized into cloud and on-premise. The on-premise category leads the global wireless network security market with the largest revenue share of around 52.3% in 2022. On-premise deployment involves the installation and management of security solutions within an organization's physical infrastructure. This approach provides organizations with a high degree of control and customization over their security measures. On-premise solutions are particularly popular among industries with stringent compliance requirements or those handling highly sensitive data, as they allow for localized control and data sovereignty. In the cloud deployment model, security services and solutions are hosted and delivered via remote servers over the internet. This approach offers several advantages, including scalability, flexibility, and reduced infrastructure costs. Cloud-based security solutions allow organizations to rapidly deploy and scale their wireless network security measures, making them well-suited for businesses of all sizes. Additionally, cloud solutions often feature automatic updates and maintenance, ensuring that security measures stay up-to-date and effective against emerging threats.

 

By Enterprise Size

Based on enterprise size, the global wireless network security market is segmented into large enterprises and SMEs. The large enterprises segment dominates the wireless network security market. This segment includes organizations with substantial resources, extensive networks, and a significant number of employees. Large enterprises often operate on a global scale and have complex network infrastructures to support their operations. They typically have larger budgets dedicated to cybersecurity and can afford to invest in comprehensive wireless network security solutions. SMEs encompass a wide range of businesses, from startups to established companies with a limited number of employees and comparatively smaller budgets. These organizations may have more modest network infrastructures but are increasingly recognizing the importance of robust wireless network security. Security solutions tailored to the needs and budgets of SMEs have become more prevalent in the market.

 

By End-User Industry

Based on the end-user industry, the global wireless network security market is categorized into BFSI, healthcare, retail, manufacturing, IT & Telecom, government, aerospace and defense, and others. The BFSI category leads the global wireless network security market with the largest revenue share of around 24.6% in 2022. The BFSI sector deals with highly sensitive financial data and transactions. Security measures in this industry focus on protecting customer information, preventing fraud, and ensuring the integrity of financial systems. Healthcare organizations handle vast amounts of personal health data, making data privacy and patient confidentiality paramount. Security in this sector includes measures to protect patient records, medical devices, and health infrastructure from cyber threats. Retailers must safeguard customer payment information, inventory data, and point-of-sale systems. Security solutions help prevent data breaches, theft, and fraud both in physical stores and online. Information technology and telecommunications companies face a wide range of security challenges, including safeguarding data centers, networks, and communication infrastructure. Security measures aim to protect against data breaches, network intrusions, and service disruptions. The aerospace and defense industry deals with highly sensitive defense and military technology. Security measures encompass safeguarding classified information, intellectual property, and the security of critical infrastructure.

 

Global Wireless Network Security Market Overview by Region

The global wireless network security market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2022. Both organizations and customers in North America exhibit a high level of cybersecurity awareness. Strong market demand for cutting-edge security solutions and services has resulted from high-profile data breaches and cyberattacks that have forced organizations to prioritize security spending. Strict data protection and privacy requirements are mandated by the legal environment in the region, which includes regulations like the GDPR and HIPAA (Health Insurance Portability and Accountability Act). In order to achieve compliance and avoid severe penalties, this has prompted organizations to invest heavily in security solutions. The growth of security technology is being driven by various tech giants, startups, and research institutions in North America, which is a global center for technical innovation. Innovations in cybersecurity are continuously being developed in the region and utilized worldwide. The region's dominance in the financial services sector, with major hubs like New York City, has resulted in significant security investments to protect financial institutions and transactions. The finance industry has been at the forefront of adopting advanced security solutions.

 

 

Global Wireless Network Security Market Competitive Landscape

In the global wireless network security market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

 

Some of the prominent players in the global wireless network security market include 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. and various other key players.

 

Global Wireless Network Security Market Recent Developments

In March 2023, Axis Security, a provider of Security Service Edge, was acquired by Hewlett Packard Enterprise, strengthening network security. In order to enhance its edge-to-cloud security capabilities and fulfill the growing need for integrated networking and security solutions offered as a service, HPE plans to buy cloud security provider Axis Security. By acquiring Axis Security, HPE will be able to offer a unified Secure Access Services Edge (SASE) solution.

 

In December 2022, For 5G and hybrid networks, Cradlepoint announced the availability of a zero-trust network access solution. The third NetCloud Exchange (NCX) product, Zero Trust Network Access, is now available, according to the industry pioneer in cloud-delivered LTE and 5G wireless network solutions. For Cradlepoint deployments, NCX ZTNA delivers a native ZTNA experience that offers simplicity, efficiency, and granularity.

 

Scope of the Global Wireless Network Security Market Report

Wireless Network Security Market Report Segmentation

ATTRIBUTE

DETAILS

By Component

  • Solution
  • Services

By Deployment

  • Cloud
  • On-premise

By Enterprise Size

  • Large Enterprises
  • SMEs

By End-User Industry

  • BFSI
  • Healthcare
  • Retail
  • Manufacturing
  • IT & Telecom
  • Government
  • Aerospace and Defense
  • Other

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

 

  • Global Wireless Network Security Market Size and Forecast:

To identify and estimate the market size for the global wireless network security market segmented by component, by deployment, by enterprise size, by end-user industry, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of wireless network security between 2019 and 2031.

 

  • Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for the global wireless network security market

 

  • Market Influencing Factors:

To find out the factors which are affecting the sales of wireless network security among consumers

 

  • Impact of COVID-19:

To identify and understand the various factors involved in the global wireless network security market affected by the pandemic

 

  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Retailers, Wholesalers, and Distributors
  • CIOs and CTOs
  • IT and Security Professionals
  • Business Executives and CEOs
  • Security Vendors and Solution Providers
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global wireless network security market forecast period is 2023 - 2031
According to wireless network security market research, the market is expected to grow at a CAGR of ~12.8% over the coming years.
North America is expected to register the highest CAGR during 2023 - 2031
North America held the largest share in 2022
The major players operating in the global wireless network security market include 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. ,and various others.