Market Overview
Telecom services are the essential sector that provides communication services throughout the world. The technological growth of communication has led to the development of the telecom sector. This advancement of telecommunication services has even increased the risk of cyber hacks and attacks on the service. The growing demand for the protection of telecom data and networks has largely driven the Security Software in Telecom Market.
The widespread expansion of LTE networks enabled the telecom industry to provide its services in remote and rural areas, and it even provided seamless connectivity across the world. The expansion of these networks throughout every corner of the world has increased the risk of cyber hacks and threats in the telecom sector. These factors have increased the demand for proper security systems for the sector, which propelled the growth of Security Software in Telecom Market. The increase in internet penetration, adoption of broadband connections, and the growing demand for data services are uplifting the market value.
The rise in cloud services and cloud data storage usage in various companies and organizations has been a chief driving factor of the market, and the growth of cyber-attacks on telecom networks and the increase in mobile and IoT devices are enhancing the market growth. Other driving factors are the availability of sustainable enterprise solutions and the increased data breach incidents.
The pandemic has shown a positive impact on the market; different factors like economic setbacks, unemployment, and downward discretionary income have led people to depend more on online networks. The changing transformation of the IT and telecom industry for advanced solutions has accelerated the market's growth rate during this period. Further, the Security Software in Telecom Market Trends will reach a value worth15.45 Billion in 2030 with a CAGR of 11.42% during the forecast period.
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Security Software in Telecom Market – Competitive Landscape
Highly competitive, the security software in telecom market appears to be fragmented, with many well-established players forming a competitive landscape. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion and, product & technology launch to gain a substantially larger competitive share.
They make substantial investments to drive R&D activities and expand their global footprints. Telecom security software companies strive to develop advanced technologies entirely on a different level.
Industry/Innovation/ Related News:
October 27, 2020 ---- Akamai Technologies, Inc. (the US), a global content delivery network, cybersecurity, and cloud service company, announced the acquisition of Ireland-based telecom security platform Asavie to advances 5G & IoT security strategy. Akamai intends to expand its ability to protect enterprise mobile and cellular devices in an increasingly 'office anywhere' environment.
The addition of Asavie would help Akamai to address enterprise and mid-market customer demand for IoT and mobile device security and management services. In addition to impending large-scale 5G and IoT deployments, the acquisition would support the growing demand for better network security for employees working from home due to the Covid-19 crises.
Report Overview
The security software in telecom market analysis features unique and relevant factors expected to significantly impact the market growth during the forecast period. The detailed security software in telecom market forecast would help industry players understanding the market better. The MRFR report elaborates on the historical and current trends boosting the open-source security software in telecom industry.
Additionally, the analysis of COVID-19 impact on the security software in telecom market is also included in the report. Regional assessment in this report unlocks several untapped opportunities in regional and international markets. Detailed company profiling enables users to evaluate company shares, scope of the existing & emerging product lines in new markets, pricing strategies, innovation possibilities, and much more.
Major Players:
Players active in the global telecom security software market are IBM Corporation (US), Symantec Corporation (US), Dell Inc (US), McAfee (US), Oracle Corporation (US), Check Point (US), CyberArk (Israel), Qualys (US), Imperva (US), Amazon Web Services (US), HP Enterprise Development LP (US), F-Secure (Finland), FireEye (US), Fortinet (US), Forcepoint (US), and Trend Micro (Japan) Inc., among others.
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Security Software in Telecom Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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