The wireless network security market is expected to register a CAGR of over 12% over the forecast period (2020 - 2025). Wireless communications provide organizations and users many benefits such as flexibility and portability, increased productivity, and lower installation costs.
- One of the major factors for the growth of the wireless network security market is the increased adoption of wireless devices at workplace, as it makes the enterprise wireless network more open and hence more vulnerable to the potential threats.
- The risks to the users of wireless technology have increased as the service has become more popular. Issues related to cybersecurity threats had extensively boosted the demand for the wireless network security solution. Furthermore, to ensure that the systems, as well as applications, are free from any security loopholes and data loss, these solutions are expected to create a significant demand over the forecast period thereby augmenting the market's growth positively. Increased reliance on wireless networks by numerous organizations to cut maintenance cost and foster operating income is also anticipated to favorably impact the wireless network security industry growth
- The market is witnessing the adoption of the intrusion detection system in numerous applications such as critical infrastructure and high-security areas.
Scope of the Report
Wireless network security is defined as the process of designing, implementing, and ensuring security on the wireless computer network. It is a subset of network security which adds protection for a wireless computer network. They protect the wireless network from malicious and unauthorized access attempts.
Key Market Trends
BFSI End-user Industry is Expected to Hold a Significant Share
- Banking organizations are increasingly making use of the Internet of Things (IoT) for all kinds of solutions, from measuring the foot traffic to determine the optimal locations for branches and ATMs to using beacons to provide personalized offers.
- As banks adopt IoT and add more and more connected devices such as sensors, Bluetooth low energy beacons, and IP-connected cameras among others to their network environments, they need to take steps to ensure that these devices, and the data sent to and from them, are as secure as possible.
- Many financial institutions are witnessing the potential threats that IoT and other wirelessly connected devices can bring. For instance, In Verizon’s “Mobile Security Index 2018” report, 25% of those surveyed who work in the financial services industry reported that they had experienced a mobile-related incident and 18% said it was a major one with lasting repercussion.
- The role of wireless network security solutions plays a significant role here. Strong encryption, robust authentication, and other IT practices commonly used to remotely manage computer networks should also be applied to remotely managing IoT network. Next-generation firewalls, along with identity and access management (IAM) tools can also help.
North America is Expected to Hold a Major Share
- North America is expected to be a major contributor to the growth of the market. The United States plays a key role in proliferating the demand from the region when compared to Canada. The region is a pioneer in the adoption of advanced technology. Additionally, the presence of large enterprises, the increasing frequency of network attacks, and the growing number of hosted servers in the United States are driving the growth of the market.
- Moreover, the region has a strong foothold of key vendors of the market. Some of them include Cisco Systems, Inc., Juniper Networks, Inc., Fortinet, Inc., and Symantec Corporation, among others.
- The United States has one of the highest adoptions of wireless devices. The growth in wireless devices is fueling the need for robust security solutions to protect the misuse and unauthorized access of data. For instance, According to the Telecommunications Industry Association (TIA), the volume of wireless data traffic in the United States increased to 45,250 million gigabytes in 2018 from 19,150 million gigabytes in 2016.
The market is fragmented as many players such as Cisco Systems, Inc., Juniper Networks, Symantec Corporation, Fortinet, Inc., Motorola Solutions (Zebra Technologies Corporation), Sophos Ltd., Aruba Networks (HPE) among others occupy a smaller share of the market. The players are pursuing an M&A strategy to strengthen their product portfolio.
- Mar 2019 - Juniper Networks, Inc. announced that the company has entered into a definitive agreement to acquire Mist Systems, one of the pioneer in the cloud-managed wireless networks powered by AI. This agreement will improve Juniper’s enterprise networking portfolio by combining Mist’s next-generation Wireless LAN (WLAN) platform with Juniper’s best-in-class wired LAN, SD-WAN and security solutions to offer unsurpassed end-to-end user and IT experiences.
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