Wireless networking helps avoiding the costly process of cabling the building in order to connect two or more equipments at the nearby locations. These networks work on radio communications and need extra precautions when it comes to their security and troubleshooting. Huge surge in the information technology and its advanced avenues like wireless networking is pushing many businesses and personal users to adopt wireless sharing. It helps them share, store and transfer the business and user data at a rapid rate and across the equipment located at a vast area. This fact is also contributing to the rising instances of data security breaches and malware attacks. As a result, the global wireless network security market is gaining momentum along with the network market.
Segmentation in Wireless Networking Security Industry
Experts segment the global market on the basis of various industry components. The components considered for the segmentation of the wireless network security market include the types of solutions, services, end-users using these services and solutions, business verticals and geographic regions that deploy these solutions the most. Following are the details of the sub-segmentation in the global industry:
- Services: Consulting, security operations, managed security and such other services
- Solutions: Intrusion prevention, firewall, identity & access management, UTM, encryption, etc.
- Verticals: BFSI, healthcare, government, manufacturing, utilities, retail, academia, telecom, etc.
- End Users: Small and medium businesses (SMBs) and large enterprises
- Geography: Europe, North America, Middle East, Africa, Asia Pacific and Latin America
Market Drivers and Trends from 2014 to 2019
Advanced telecommunication and internet technologies have broadened the limits for the global wireless network security market. The stronghold of various technologies including bring-your-own-device or BYOD and rise in adoption of advanced networking technologies across organizations is creating great business prospects for the industry. According to the experts, the solutions segment is showing great growth prospects. However, along with the solutions, the service segment is also aiming at healthy growth during the forecasting period. Adoption of new technologies is expected to create healthy growth environment for the industry.
According to the latest research reports, the global wireless network security market is expected to grow at a projected CAGR of over 12.9% from 2014 to 2019. At the projected CAGR, the industry is poised to reach $15.55 billion in 2019. As of 2014, the market is worth $8.47 billion. During the study span, BFSI and aerospace and defense segments will dominate the demand section of the industry. As far as the geographic regions are concerned, North America is expected to dominate the global market. Asia Pacific and other emerging markets on the other hand are estimated to witness healthy growth during the forecasting period.