Rise in the adoption of wireless data connections across different environments is creating huge demand for their security solutions. These security solutions are a set of software programs, systems and hardware devices that protect the wireless networks from different malpractices like data theft and virus attacks. Growth in the adoption is the prime reason for the rising demand in the wireless network security market as well. Technological advancements in the existing programs is also considered to be one of the strongest driving factors for the global industry. According to the experts, businesses in this industry are expecting healthy growth in the next few years, thanks to the IT revolution across the emerging markets and demand for wireless technology across enterprises from different industries.
Segmentation in WNS Market
Researchers segment the global market on the basis of the types of solutions, services, end-users, business verticals and geographic regions. Segregated analysis of all these segments and their combined study provides details about the growth trends, drivers and challenges in the wireless network security market. Following are the details of the sub-segmentation in the market:
- Services: Consulting, security operations, managed security and other services
- Solutions: Encryption, firewall, UTM, I&AM, IPS/IDS, and others
- End-Users: Small and medium businesses (SMBs) and large enterprises
- Verticals: BFSI, IT & telecom, aerospace, healthcare, retail, government, utilities, etc.
- Geography: NA, EU, APAC, MEA, and LA
Trends & Drivers
The basis driving factors for the global wireless network security market include, rise in the demand for wireless networks and availability of supportive regulatory networks. However, evolution of new security threats including malicious software programs and data theft activities remain the crucial drivers for the adoption of these solutions across different geographic regions. The global industry is seeking growth opportunities from integrated wireless network security solutions as well. However, researchers expect pirated solutions and strong competition in the industry to be the major restraints for the market.
Nevertheless, the expert analysts are expecting steady and healthy growth in the industry, during the next few years. From 2014 to 2019, the wireless network security market is expected to grow at a CAGR of over 12%. At the projected CAGR, the market is expected to be worth $15.55 billion by the end of the year 2019. As of year 2014, the market is poised at $8.47 billion. During the forecasting period, business verticals like BFSI and aerospace and defense are expected to be the early adopters in the industry. Rising threats to safety and security are expected to remain crucial drivers for the overall market as well.
For more information on this market: Click Here