New York, US, July 21, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Security Software in Telecom Market information By Component by Deployment Mode, by Security Type - Forecast till 2027” the market to reach USD 8,923.5 million at an 11.9% CAGR by 2025.
Market Scope:
Cloud data storage and cloud services are becoming increasingly common in businesses. As cyber-attacks on telecom networks and cloud data become more popular, there is a major increase in consumer demand. Furthermore, the increasing use of mobile and IoT devices accelerates market development. Furthermore, the availability of long-term business solutions, as well as an increase in data breach events, drives the need for well-established stable networks.
Dominant Key Players on Security Software in Telecom Market Covered Are:
- IBM Corporation (US)
- McAfee (US)
- Dell Inc (US)
- Symantec Corporation (US)
- Trend Micro (Japan) Inc
- Forcepoint (US)
- Check Point (US)
- CyberArk (Israel)
- HP Enterprise Development LP (US)
- Oracle Corporation (US)
- Imperva (US)
- F-Secure (Finland)
- Qualys (US)
- FireEye (US)
- Fortinet (US)
- Palo Alto Networks (US)
- Microsoft Corporation (US)
- Amazon Web Services (US)
- Juniper Networks (US)
- Proofpoint (US)
- F5 Networks (US)
- Rapid7 (US)
- Sophos (UK)
- Splunk (US)
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Market USP Exclusively Encompassed:
Market Drivers
Businesses and companies all over the world are developing and expanding in scale, which raises their demand for telecom and internet services. As a result, telecom companies incorporate Security Software in Telecom Market in their networks, which is expected to provide substantial opportunities for the industry.
Furthermore, the spread of SaaS and cloud-based platforms will accelerate market growth. Moreover, growing advancements and digital transformation in enterprises are expected to provide significant growth opportunities for security software in the telecommunications industry.
However, high deployment costs of the software are expected to be major factors limiting ongoing market growth and impacting market revenues. Furthermore, the growing emergence of low-cost security solutions, as well as a lack of infrastructure to incorporate IPV6 technology, are major factors that are expected to serve as a headwind for the growth of security software in the telecom industry.
Browse In-depth Market Research Report (101 Pages) on Security Software in Telecom Sector:
https://www.marketresearchfuture.com/reports/security-software-telecom-market-6961
Market Segmentation:
The global security software in telecom market has been bifurcated into component, security type, deployment type, and end-user.
By component, the global security software in telecom market has been segmented into solutions and services. Solution segment has been further segmented into identity & access management (IAM), risk & compliance management, encryption, security information, data loss prevention (DLP), unified threat management, event management (SIEM), distributed denial of service mitigation (DDoS), firewall, and others. The services segment has been further segmented into professional services and managed services. Professional services has been further segmented into risk assessment, design & implementation, support & maintenance, and others.
By security type, the global security software in telecom market has been segmented into network security, endpoint security, application security, cloud security, others.
By deployment type, the global security software in telecom market has been segmented into on-premise and cloud.
By end-user, the global security software in telecom market has been segmented into large enterprises, small & medium enterprises (SMEs), and government.
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Regional Analysis:
By region, the global security software in telecom market has been bifurcated into North America, Europe, Asia Pacific, and the rest-of-the-world.
North America has always been the dominant player in the global security software in telecom industry. In 2018, the region's market value was USD 1162.9 million. The North American security software in telecom market is projected to hit USD 2886.7 million by 2025, rising at a 12.2% CAGR during the forecast period.
Factors such as an increase in IoT deployments and the availability of internet-enabled solutions and cloud services in the area drive the size of the security software in telecom market. The United States and Canada are witnessing high-profile cyberattacks in the telecommunications industry, which is a major factor pushing demand for security software.
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Industry News:
Jan. 28, 2021 – SK Telecom, Dell Technologies, and VMware announced a collaboration to develop OneBox MEC, an integrated multi-access edge computing solution. The new software is intended to provide more safe and dependable access to data at edge locations. The OneBox MEC would use the Dell EMC PowerEdge XE2420 server for data-intensive, low-latency edge services to deliver the performance, availability, and security required for CSPs to build their portfolio of private 5G and edge solutions.
Jan. 27, 2021 – Akamai, a world's leading content delivery network (CDN) provider, and Plume, a leading Wi-Fi software provider, have announced a collaboration to provide smart-home and smart-business services, including security. Akamai and Plume will gain access to each other's customers as well as sales and marketing teams via the joint offering.
Nov. 05, 2020 – IBM announced its cloud for telecommunications and an impressive posse of partners. The IBM Cloud for Telecommunications is an open, hybrid cloud architecture designed to assist telecommunications providers in addressing the highly controlled industry's unique challenges. The cloud for telecoms platform would boost business transformation, enhance digital client engagement, improved agility as they modernize their enterprise applications and infrastructure to unlock the power of 5G and edge.
COVID-19 Impact on the Global Security Software in Telecom Market:
The COVID-19 outbreak has positively affected the already competitive security software market in the telecom industry. Factors such as the economic downturn, which saw many job losses, diminishing discretionary income, and the big leap people took to make a living online all lead to business instability. With increasing transformations in the IT and telecom industries, as well as the digital transformation of the economy, cybersecurity risk is increasing across industry verticals.
Simultaneously, the key issues associated with decentralized security, increased bandwidth burden on current security monitoring, building security by design into IoT device manufacturing, and the need for appropriate encryption at each level of digital transactions are all working in favor of security software in the telecom industry. Following the lifting of the lockdown, demand for telecom security software is expected to increase further.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.