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Telecom Cyber Security Solution Comprehensive Market: Segmented: By component (Identity and Access Management (IAM), Disaster Recovery & Data Loss Protection (DLP), Risk and Recovery Management, Malware Detection and Protection Systems, Network Security Systems and others); By end-user (small and medium scaled enterprises and large enterprises); By services (consulting and integration, managed security services and security and vulnerability assessment)and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Telecom Cyber Security Solution Comprehensive Market size was USD 17.1 billion in 2019 and projected to grow to USD 61 billion by 2030, exhibiting a CAGR of 12.30% during the forecast period.
A comprehensive security solution is required in almost every sector for protection from advanced-level threats. Protection of information technology or cyber protection highlights the need to secure networks, services, and data from the RAM. With the rise in the number of cybercrimes and attacks the need for cyber protection has increased significantly. The introduction of digitalization has forced industries to rely on digital information and the internet of things.
Telecom Cyber Security Solution Comprehensive Market is expected to project a CAGR of 12.30% during the forecast period, 2019-2030
Increased demand for cloud-based cyber security services and a rise in the number of internet of thing devices in need of network security solutions are to increase the growth of the telecom cyber security solution comprehensive market.
By end-use
it can be classified into small and medium scaled enterprises and large enterprises. Large scale industries have strong IT infrastructure and networking which dominates this segment.
By component
it can be segmented into Identity and Access Management (IAM), Disaster Recovery & Data Loss Protection (DLP), Risk and Recovery Management, Malware Detection and Protection Systems, Network Security Systems, and others. The effective control provided by the network segment solution to limit the movement of unauthorized access of cybercriminals increases the growth of this segment.
By service
it can be classified into consulting and integration, managed security services, and security and vulnerability assessment. Managed security services are expected to register the highest growth in the forecasted period due to their increased usage in network development solutions. It includes planning, designing, testing, maintenance, and support.
Rising cyber-attacks to drive the Telecom Cyber Security Solution Comprehensive Market
Increased demand for cloud-based cyber security services and a rise in the number of internet of thing devices in need of network security solutions are to increase the growth of the telecom cybersecurity solution comprehensive market. The rise in cyber-attack incidents, increased demand for mobility of enterprises, and expansion of the global industrial cybersecurity market are also expected to drive the market growth.
Increased usage of the internet of things in cloud security solutions and shortage of IT resources to act as market restraints
Increased usage of the internet of things in cloud security solutions and lack of knowledge about Identity and Access Management solutions can hamper the growth of the market. Limited budget for the security of small and medium scaled industries as well as a shortage of IT resources can also restrict the market growth.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA. North America projected a market share of 34% in the year 2019 and is expected to take over the cyber security market due to a large number of users as well as the presence of prominent players in the region. With the growth of digitalization in economies such as India and China which can accelerate cyber-crime activity, the APAC region is also likely to show significant growth.
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