Security software is a type of software that secures & protects a network, computer, or any computing-enabled device. It secures the system against viruses & network/Internet based intrusions, provides data protection, manages access control, and defends against other system-level security risks. Security software solutions have the ability to defend the application & management network in telecom industry from interruption and loss of confidential data. It encompasses several areas for instance data protection, email security, web security, compliance, architecture, governance, security information & event management, data loss prevention, and identity & access.
According to study, “Global Security Software in Telecom Market Segmentation by Deployment Type (Cloud, On-Premise), by Application (SMEs, Large Enterprises, Government Organizations) Global Report Forecast till 2025” the key companies operating in the global security software in telecom market are Check Point Software Technologies Ltd., F-Secure Corporation, Fortinet, IBM Corp., McAfee, Accenture PLC, TripWire, Panda Security, Kaspersky Lab, Checkmarx Ltd., Symantec Corp., Dell EMC, Imperva, Hewlett Packard Enterprise Company, Trend Micro Inc., Oracle Corp., Qualys, Cisco Systems Inc., Veracode Inc., WhiteHat Security, Applause App Quality Inc., FireEye, Amazon Web Services, Forcepoint, Microsoft Corp., Rapid7, Palo Alto Networks, F5 Networks, Proofpoint, Juinper Networks, Sophos, Splunk, Intertek Group PLC, AVG Technologies.
Based on component type, security software in telecom market is segmented into services component and solution component. The services segment is further sub-segmented into managed services and professional services. The professional services segment includes risk assessment, support & maintenance, design & implementation, and others. The solution segment is further sub-segmented into identity and access management (IAM), encryption, risk & compliance management, data loss prevention (DLP), security information and event management (SIEM), firewall, unified threat management, distributed denial of service mitigation (DDoS), and others. Based on security type, market is segmented into endpoint security, network security, cloud security, application security and others. Based on deployment of software, market is sub-segmented into on-premise deployment and cloud deployment. In addition, based on end-user, market is segmented into small & medium enterprise, large enterprises, and government organization.
The security software in telecom market is driven by increase in data breach incidents, followed by rise in internet penetration, growth in broadband adoption, increase in advanced & sophisticated threats and rise in need for data services. However, high total cost of ownership and presence of inexpensive security solutions may impact the market. Moreover, growth in popularity of Software-as-a-service based security solutions and convergence of technologies are key opportunities for market.
Based on geography, the North-American region dominates the security software in telecom market, followed by European region owing to rise in availability of internet-enabled solutions & cloud services and increase in deployment of Internet of Things (IoT) in the region. The Canada and U.S. countries are facing high-profile cyber-attacks in telecom sector, which is one of the main reasons stimulating the demand for security software. The Asian-Pacific region is expected to witness higher growth rate due to rise in number of cyber-attacks, stringent government regulations and rapid digitization coupled with developments of cloud computing technologies over the forecast period. The global market has registered the growth rate of 13.8% CAGR throughout the forecast period (2018-2025) by targeting to reach the market value of US $8,923.8 million by the year 2025.
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Ankur Gupta, Head Marketing & Communications