Wireless Network Security Market (Updated Version Available)

Key Market Overview:

Wireless Network Security market size was valued at USD 15.3 Billion in 2022 and the market is estimated to reach over USD 41.2 Billion by 2030, registering a CAGR of 13.2% during the forecast period (2022-2030).

Wireless network security is referred to the process of creating, implementing, and safeguarding security on the wireless computer network. This is considered the subset of network security that improves the protection of the wireless computer network. Additionally, wireless security prevents any unauthorized access or harm to computers via Wi-Fi security, which protects data sent through the Wi-Fi network.

The rising adoption of wireless networks among organizations has urged institutions to rely on wireless network security solutions for prevention against cyberattacks. The solutions like firewalls, encryption, intrusion detection system (IDS), and others provide the needed defense against data theft, data loss, and security loopholes. Thus, the market is anticipated to witness substantial growth during the forecast period due to the complete reliance on wireless networks across multiple organizations.

Additionally, the scope of 5G technology expansion during the forecast period is also expected to enhance the need for such security solutions for defending and patching the vulnerabilities of open networks. Thus, the growing integration of major operational activities within institutions, either commercial or residential spaces, through wireless network pose the need for security solutions.

Report Attributes	Report Details
Study Timeline	2018-2030
Market Size in 2030 (USD Billion)	41.2 Billion
CAGR (2022-2030)	13.2 %
By Deployment	On-premise, and Cloud
By Solution	Firewall, Intrusion Detection System (IDS)/ Intrusion Prevention System (IPS), Encryption, Identity, and Access Management, Unified Threat Management
By Services	Security Operations, Consulting, Managed Security Services
By End Use	BFSI, Healthcare, Retail, Manufacturing, IT and Telecom, Government, Aerospace and Defense, and Others
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Huawei Technologies Co. Ltd, Ruckus, Juniper Networks, Sophos Ltd., Motorola Solutions, Fortinet, Cisco Systems Inc., Brocade Communications Systems Inc., Aruba Networks, Symantec Corporation, Honeywell, Robert Bosch, and Dell Inc.

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Market Dynamics:

Driver:

The surging digital infrastructure accelerates the worldwide adoption of security solutions to reduce the risks of unauthorized access to crucial business information. Furthermore, the growing concerns related to hackers employing innovative hacking tactics for accessing critical business information also facilitate the need for such security solutions.

Restraint:

The high costs of integrating such wireless network security within the organizations hinder market growth due to low-security budget allocations, especially by medium-sized businesses. Also, the expensive operational and maintenance costs hamper the growth of the market due to the lack of skilled technical professionals for consistent examination of the equipment.

COVID-19 Impact:-

The wireless network security market witnessed a positive demand growth during the initial pandemic phases. The remote working operations among businesses due to the government lockdown impositions resulted in augmented usage of security firewalls in digital infrastructures. Additionally, large numbers of private and public corporations shifted their focus to getting the cloud and distant networks for the ease of stakeholders and employees. Post COVID-19, there was a sudden surge in the adoption of such security measures owing to the growing popularity in terms of remote working. Thus, such security solutions are anticipated to gain popularity in major businesses after the passage of the crisis.

Wireless Network Security Market Segmentation:



By Deployment

The deployment segment is bifurcated into on-premise, and cloud. The cloud segment is registered as the largest share contribution to the growth of the wireless network security market during the projected period. The cloud deployment mode is adopted by major end users owing to the growing reliance on remote access to business activities via employees. Thus, the institutions utilize cloud-based solutions reducing the cost of network management and fast resolution of network problems. Furthermore, on-premise security is also majorly deployed in multiple organizations. The crucial element of such deployment is due to complete control over each network component along with security & surveillance. Thus, the wide adoption of on-premises demand for security is attributed to the strong LAN architecture, reduced complexity, and augmented internet connectivity.

By Solution

The solution segment is categorized into the firewall, intrusion detection system (IDS)/ intrusion prevention system (IPS), encryption, identity and access management, and unified threat management. The firewall solution has been largely adopted by major market players in terms of volume. The crucial function of firewalls is in terms of the creation of the boundary between an external and the guarded network which aids in the inspection of each data shared between the guarded networks. Thus, multiple organizations are anticipated to adopt increased firewall solutions during the forecast period. Moreover, encryption solutions are also expected to contribute a major market share during the forecast period. Encryption is among the most common security solutions which utilize cryptographic keys for randomizing the data until it is undecipherable. Thus, the high usage of encryption standards such as Wi-Fi protected access, Wired Equivalent Privacy (WEP), WPA2, or WPA3 is anticipated to witness a significant share during the projected period.

By Services

The services segment is divided into security operations, consulting, and managed security services. The security operation services are estimated to contribute the largest share to the market growth in terms of value. A substantial part of wireless network security market statistics is dominated by this service segment as multiple end-users rely on integration of the security solutions than simple consultation. Also, managed security services provide dedicated services with benefits like centralized visibility, continuous network monitoring, and reduced cybersecurity costs. Thus, the large adoption of security operation services for reducing the risks of cyberattacks, data leaks, and other concerns is anticipated to witness substantial growth during the forecast period.

By End Use

The end-user segment is separated into the Banking and Financial sector (BFSI), healthcare, retail, manufacturing, IT and telecom, government, aerospace and defense, and others. The BFSI and IT and telecom are anticipated to contribute the largest share to the market growth during the forecast period. The availability of a large quantity of private and personal data with the shareholders poses the threat of cyberattacks and other threats. Thus, growing numbers of data breaches and network attacks during mobile or online transactions require the urgent implementation of security solutions. Furthermore, the healthcare sector is also expected to contribute the fastest CAGR growth in terms of value. The increased investments in emerging technologies such as natural language processing, cloud computing, and others such as Electronic Health Records (EHR) are utilized to maintain large patient data. The data comprises medical insurance, claims, medical bills, and others which have heightened the need for network information security.

By Region

The regional segment comprises of North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In the context of the region, North America is projected to contribute a significant share to the market trends. The early and first adoption among major end users especially the healthcare, retail, IT, and telecom strengthens the market presence in the North American region. Also, the rising awareness among the population in terms of cybersecurity and related alternatives is expected to reduce the risk of cyberattacks or data losses, especially on open, vulnerable public networks.



Europe is projected to provide lucrative growth opportunities for enhanced market presence across the region. The established end users increase the spending on security solutions in terms of adoption within operations and additional research and development. Thus, the recognized safety solutions due to the presence of multiple cyber professional services result in consistent information assessments within the organizations located in the European region.

Wireless Network Security Market Competitive Landscape:

The research report published on the wireless network security market provides an analysis of in-depth market trends, value chain evaluation, and other crucial factors that affect the market position. The factors such as business weaknesses and strengths, production capacities, product innovations, and application dominance Thus, the market players gain a competitive edge over other competitors by emphasizing such growth aspects. Mentioned are the key market players that comprise the majority of market concentrationâ€\"

• Huawei Technologies Co. Ltd
• Ruckus
• Juniper Networks
• Sophos Ltd.
• Motorola Solutions
• Fortinet
• Cisco Systems Inc.
• Brocade Communications Systems Inc.
• Aruba Networks
• Symantec Corporation
• Honeywell
• Robert Bosch
• Dell Inc.