Cybersecurity in Telecommunication Networks Market to Reach $39.8 Billion, Globally, by 2032 at 9.1% CAGR: Allied Market Research
NEW CASTLE, Delaware, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Cybersecurity in Telecommunication Networks Market by Component (Software and Service), by Deployment Mode (On-Premise and Cloud), and Enterprise Size (Small and Medium-sized Enterprises and Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the cybersecurity in telecommunication networks market was valued at $18.2 billion in 2023, and is estimated to reach $39.8 billion by 2032, growing at a CAGR of 9.1% from 2024 to 2032.
Prime determinants of growth
The global cybersecurity in telecommunication networks market is experiencing growth due to several factors such as the rapid growth of 5G technology and the Internet of Things (IoT), leading to an increased attack surface for cyber threats, making cybersecurity a critical concern for telecommunication providers. The escalating complexity of telecommunication infrastructures provides cybercriminals with numerous opportunities to exploit vulnerabilities, resulting in a surge of cyberattacks such as DDoS attacks, data breaches, and ransomware. On the contrary, the government and business investments to enhance cybersecurity infrastructure, foster economic growth and regional innovation in the cybersecurity landscape.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $18.2 Billion |
| Market Size in 2032 | $39.8 Billion |
| CAGR | 9.1% |
| No. of Pages in Report | 356 |
| Segments Covered | Component, Deployment Mode, Enterprise Size, and Region. |
| Drivers | Increase in demand for cybersecurity solutions |
| Evolution of technologies such as 5G and IoT | |
| Rise in complexity of telecommunication infrastructures | |
| Opportunities | Government and business investments |
| Surge in demand for customized cybersecurity services by SMEs | |
| Restraint | Budgetary constraints |
| Lack of skilled cybersecurity professionals |
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Segment Highlights
The growth of the software segment in the cybersecurity in telecommunication networks market is primarily driven by the increasing demand for customized software solutions tailored to meet the specific requirements of enterprises, providing enhanced security and functionality. Custom software development ensures the creation of solutions that align with the unique needs of businesses, offering a high level of data security and scalability. This segment caters to large enterprises seeking competitive advantages through tailored solutions that integrate seamlessly with existing systems, enhancing operational efficiency and security measures.
Based on deployment mode, the growth of the on-premise segment is fueled by the preference for total ownership and control over software solutions, especially in highly regulated industries such as finance and healthcare, where data security and compliance are paramount. On-premise software offers reliability and data security through physical access, making it a preferred choice for companies prioritizing control and autonomy over their software infrastructure. The lower costs associated with one-time license fees and annual maintenance, coupled with the ability to access data without an internet connection, make on-premise solutions attractive for businesses seeking enhanced security measures and control over their software environment.
On the basis of enterprise size, the small and medium-sized enterprises (SMEs) segment is poised to experience growth owing to cost-effectiveness, scalability, and the need for tailored solutions that align with the agile and innovative business models of SMEs. Custom software solutions offer SMEs the flexibility to integrate the latest technologies, streamline operations, and enhance collaboration within the organization. These solutions cater to the specific needs and resource constraints of SMEs, allowing for the integration of advanced security features and technologies to enhance cybersecurity measures within telecommunication networks.
Regional Outlook
Region-wise, the North America cybersecurity in telecommunication networks market is driven by the existence of major market players, such as Cisco, Palo Alto Networks, Verizon Communications, and AT&T across the region. The rapid growth and development of advanced telecom communication networks, including 5G and IoT, have expanded the attack surface for cyber threats, making cybersecurity a critical concern for telecommunication providers in the region. However, Asia-Pacific is considered to be the fastest-growing region due to rapid technological advancements, surge in population, rise in disposable income, and prevalence of fast adopters of new technologies in developing countries such as China and India.
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Major Industry Players
- Cisco Systems, Inc.
- Palo Alto Networks
- Verizon
- AT&T Intellectual Property
- Zscaler, Inc.
- Trend Micro Incorporated
- Broadcom
- McAfee, LLC
- Juniper Networks, Inc.
- Fortinet, Inc.
The report provides a detailed analysis of these key players in the global cybersecurity in telecommunication networks market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development
- In February 2024, Trend Micro Incorporated, a global cybersecurity leader, announced it will be showcasing its unique, platform-based approach to protect the ever-expanding enterprise attack surface, including protecting 5G deployments, at Mobile World Congress (MWC) Barcelona 2024.
- In February 2024, Cisco collaborated with du, from Emirates Integrated Telecommunications Company (EITC), signaling the beginning of a major cybersecurity transformation initiative. The initiative focuses on revolutionizing du’s Security Operations Center (SOC) into an advanced Cyber Defense and Intelligence Center, leveraging artificial intelligence and automation to enhance security and operational efficiency.
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