How Has the Telecom Cyber Security Solution Market Size Evolved in Recent Years?
The telecom cyber security solution market has seen considerable growth due to a variety of factors.
• In recent times, the market size for telecom cyber security solutions has witnessed a swift expansion. The market, which would be worth $38.15 billion in 2024, is projected to escalate to $44.85 billion in 2025, registering a compound annual growth rate (CAGR) of 17.6%.
The commendable growth seen during the historical period can be linked to the surging use of mobile connectivity, growing dependence on digital communication, increased cyber threats, major data breaches in the past, and vulnerabilities in the legacy infrastructure.
What are the Market Size and Expected Growth Rates for the Telecom Cyber Security Solution Market?
The telecom cyber security solution market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the telecom cyber security solution market is projected to experience swift growth. By 2029, the market's worth is anticipated to reach $83.79 billion with a compound annual growth rate (CAGR) of 16.9%.
This projected growth during the forecasted timeline can be credited to the expansion of cloud services, the burgeoning number of connected devices, focus on privacy protection, changing threat landscape, and the rising demand for managed security services. Key trends marking this period include the shift towards a zero-trust architecture, emphasis on identity and access management, importance of privacy and data protection laws, along with the framing of telecom-specific security standards.
Which Key Drivers Are Propelling The Telecom Cyber Security Solution Market's Growth?
The telecom cyber security solution market is anticipated to expand due to the increasing number of cyber-attack incidents. These attacks are malicious efforts by individuals or organisations to breach computer systems, networks, or digital gadgets, often with the purpose of stealing confidential data, disrupting operations, or causing harm. The growing number of cyber-attack events can be traced back to the rise in connectivity and the expanding digital landscape, which provides more opportunities for cyber criminals. Telecom cybersecurity solutions help to counter these cyber-attacks by offering reliable threat detection, implementing encryption protocols, and managing network segmentation to protect against weaknesses and unauthorised access within the telecom sector. The Internet Crime Report 2022, released by the Federal Bureau of Investigation (FBI), reveals that the Internet Crime Complaint Center (IC3) recorded 300,497 phishing complaints in 2022, with financial losses due to phishing complaints amounting to $0.052 billion. In comparison, the previous year, 2021, saw a figure of $0.044 billion. As such, the increase in cyber-attack incidents is contributing to the growth of the telecom cyber-security solution market.
What Are The Key Segments Within The Global Telecom Cyber Security Solution Market?
The telecom cyber security solution market covered in this report is segmented –
1) By Type: Device, Service, Software
2) By Deployment Model: Cloud, On-Premise
3) By Application: Small Businesses, Medium Businesses, Large Businesses
Subsegments:
1) By Device: Firewalls and Intrusion Prevention Devices, Network Security Appliances, Endpoint Protection Devices
2) By Service: Managed Security Services, Security Consulting and Risk Assessment Services, Incident Response and Forensic Services, Security Monitoring and Threat Intelligence Services
3) By Software: Network Security Software, Endpoint Security Software, Threat Detection and Prevention Software, Security Information and Event Management (SIEM) Software
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What New Trends Are Influencing The Telecom Cyber Security Solution Market?
Major players in the market for telecom cyber security solutions are shifting their focus towards devising advanced solutions, like enhanced generative AI technology, specifically for the telecommunications sector to bolster security and resilience. By using this advanced machine learning algorithms, ground-breaking cybersecurity solutions can be developed autonomously, which significantly boosts threat detection and response capabilities. To illustrate, in September 2023, the US-based software technology firm, Netcracker Technology, introduced the GenAI Telco Solution. This platform offers a securely integrated set of generative AI models, thorough security protocols, a framework for accurate results observation, and a consolidated approach for achieving beneficial business outcomes. The combination of AI and ML in this platform allows for the efficient processing of telecom data, optimizes customer interactions, and fortifies data protection, thereby addressing crucial security issues in the telecom cyber security solution market.
Who Are the Key Players In The Telecom Cyber Security Solution Market?
Major companies operating in the telecom cyber security solution market are:
• Microsoft Corporation
• Accenture
• International Business Machines Corporation
• Cisco Systems Inc.
• PricewaterhouseCoopers International Limited
• Schneider Electric SE
• Broadcom Inc.
• Tata Consultancy Services
• Bae Systems Inc.
• Capgemini
• Cognizant
• Infosys Limited
• HCL Technologies Limited
• Wipro Limited
• Rockwell Automation Inc.
• Tech Mahindra Limited
• Palo Alto Networks Inc.
• Juniper Networks Inc.
• Fortinet Inc.
• Symantec Corporation (NortonLifeLock Inc.)
• F5 Networks Inc.
• Splunk Inc.
• Check Point Software Technology Ltd.
• Trend Micro Incorporated
• AO Kaspersky Lab
• L&T Technology Services Limited (LTTS)
• Rapid7 Inc.
• CyberArk Software Ltd.
What Are The Regional Insights Into The Telecom Cyber Security Solution Market?
North America was the largest region in the telecom cyber security solution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom cyber security solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
