Global Wireless Network Security Market 2023-2030

Global Wireless Network Security Market 2023-2030

Global Wireless Network Security Market Size, Share & Trends Analysis Report by Component (Solution and Services), by Deployment (Cloud and On-Premises), by Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises), and by End Users (BFSI, Retail, IT & Telecom, Healthcare, Manufacturing, Government & Defense and Others), Forecast Period (2023-2030)

The global wireless network security market is anticipated to grow at a CAGR of 9.1% during the forecast period (2023-2030). The growing adoption of next-generation wireless access points (APs) with improving network connectivity is the key factor supporting the growth of the market globally. Users require more bandwidth than ever before, and many organizations are investing in next-generation wireless access points (APs) to provide increased connectivity. To ensure network security and a positive user experience, market players need to provide high-performance switches that intelligently organize AP traffic and prevent bottlenecks.

The market players are also focusing on introducing wireless networking and AI-powered security solutions that further bolster the market growth.For instance, in October 2023, Fortinet, Inc. launched new high-performance switches to securely connect the modern campus. FortiSwitch 600 and 2000 deliver intelligent, scalable connectivity that seamlessly integrates with AIOps and FortiGuard AI-Powered Security Services. The product offers fully converged wired and wireless networking and AI-powered security through a single platform, providing visibility and security from the moment a user or device connects to the network

According to the National Cyber Strategy, UK in April 2023, When considering their most disruptive breach or attack, the vast majority of businesses (88.0%) and charities (84.0%) report being able to restore their operations within 24 hours. Furthermore, seven in ten businesses (71.0%) and charities (68.0%) say it took no time at all to recover.

Segmental Outlook

The global wireless network security market is segmented on the component, deployment, enterprise size and end users. Based on the component, the market is sub-segmented into solutions (encryption, firewall, identity and access management, intrusion prevention system (IPS)/intrusion detection system (IDS), united threat solutions, others (content filtering, authentication, data loss prevention)) and services (professional services and managed services). Based on the deployment, the market is sub-segmented into cloud and on-premise. Based on the enterprise size, the market is sub-segmented into large enterprises and small and medium-sized Enterprises. Further, on the basis of end-users, the market is sub-segmented into BFSI, retail, IT & telecom, healthcare, manufacturing, government & defense and others (entertainment, education, energy & utilities, transportation & logistics).Among the end-users, the BFSI sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of wireless network security for cyber attacks, data breaches, and financial fraud. Cyber attackers often use tactics such as phishing, malware, and ransomware to gain access to sensitive data,

The Firewall Sub-Segment is Anticipated to Hold a Considerable Share of the Global Wireless Network Security Market

Among the solutions, the firewall sub-segment is expected to hold a considerable share of the global wireless network security market. The segmental growth is attributed to the growing influence of the firewall-as-a-service filters on incoming and outgoing network traffic. Maintain the security of data networks around identity- and risk-driven policies. Firewall-as-a-Service delivers a consistent security policy framework with policies that automatically adapt based on new risk and attack vectors. For instance, in February 2022, Juniper Networks launched the newest addition to its Secure Access Service Edge (SASE) architecture, Juniper Secure Edge. This new solution delivers Firewall-as-a-Service (FWaaS) as a single-stack software architecture, managed by Security Director Cloud, to empower organizations to secure workforces, wherever they are.

Regional Outlook

The global wireless network security market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the development of 5G infrastructure, the increasing number of smartphone users, and the high emphasis of SMEs in the region on enriching the performance and security of their wireless infrastructure.

The North America Region is Expected to Grow at a Significant CAGR in the Global Wireless Network Security Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the growing popularity of the BYOD concept, rising security breaches, and the presence of established market players such as Cisco Systems, Inc., Dell Technologies, Inc., Fortinet, Inc., and International Business Machines Corp. An increase in adoption of emerging technologies such as AI, ML, big data analytics, cloud, Blockchain, the Internet of Things (IoT), and Robotic Process Automation (RPA) and their integration in wireless network solutions are assisting market players to provide better protection to their clients from cyber-attacks.

Further, various market players focused on the expansion of cloud offerings to deliver private networking capabilities directly to enterprises. With enterprises facing complex connectivity challenges across large and remote sites, private 5G offers high levels of coverage, reliability and mobility across campus and industrial environments. For instance, in February 2023, Hewlett Packard Enterprise Development LP announced the expansion of its connected edge-to-cloud offering with the acquisition of Athonet, a private cellular network technology provider that delivers mobile core networks to enterprises and communication service providers.

Market Players Outlook

The major companies serving the wireless network security market include Broadcom Inc., Cisco Systems, Inc., Fortinet, Inc., Qualcomm Technologies, Inc., Trend Micro Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2023, Nokia partnered with DXC Technology to launch DXC Signal Private LTE and 5G Solution. The availability of DXC Signal Private LTE and 5G, a managed secure private wireless network and digitalization platform solution that helps industrial enterprises digitally transform their operations.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global wireless network security market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.