Overview and Scope
Information technology (IT) and telecom cyber security refers to the set of measures, practices, and technologies designed to protect information technology systems, networks, devices, and data within the telecommunications industry from cyber threats and unauthorized access. It safeguards telecommunications infrastructure, networks, and services against cyber threats and ensures the privacy, integrity, and availability of sensitive information and communications through a multi-layered approach that integrates technology, processes, and people to identify, assess, and mitigate security risks effectively.
Sizing and Forecast
The information technology (IT) and telecom cyber security market size has grown rapidly in recent years. It will grow from $39.20 billion in 2023 to $44.39 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to growing reliance on digital infrastructure, rising cybercrime activities, increasing complexity of IT (information technology) ecosystems, high-profile data breaches, awareness of cybersecurity importance.
The information technology (IT) and telecom cyber security market size is expected to see rapid growth in the next few years. It will grow to $71.12 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to emergence of new attack vectors, adoption of cloud computing, proliferation of mobile devices, rise in remote work and digital transformation, expansion of Internet of Things (IoT). Major trends in the forecast period include rise of zero trust architecture, focus on threat intelligence sharing, growth of ransomware and extortion attacks, emphasis on privacy and data protection regulations, increased demand for managed security services.
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Segmentation & Regional Insights
The information technology (IT) and telecom cyber security market covered in this report is segmented –
1) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By Deployment Mode: On-Premises, Cloud-Based
4) By End-User Industry: Telecom Service Providers, E-commerce, Enterprises, Utilities, Government And Defense
North America was the largest region in the information technology (IT) and telecom cyber security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) and telecom cyber security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing adoption of cloud computing is expected to propel the growth of the information technology (IT) and telecom cyber security market going forward. Cloud computing is a technology that allows users to access and utilize computing resources, such as storage, processing power, and applications, over the internet on a pay-per-use basis. The growing adoption of cloud computing is driven by its ability to deliver cost-effective, scalable, flexible, accessible, and secure IT solutions that support business agility, innovation, and growth in an increasingly digital and interconnected world. Adopting cloud computing raises concerns about data privacy, compliance, and regulatory requirements, especially in industries with stringent data protection regulations, such as healthcare, finance, and government. Organizations implement cybersecurity solutions that ensure data privacy, compliance with regulations, and protection against data breaches and unauthorized access within the cloud and during data transfer. For instance, according to the statistics published by the European Commission (EC), the Belgium-based executive body of the European Union (EU), the adoption of cloud-based solutions in the European Union increased by 4.2% in 2023, with 45.2% of enterprises purchasing cloud computing services, indicating a significant surge compared to 2021. Therefore, the growing adoption of cloud computing drives the growth of the information technology (IT) and telecom cyber security markets.
Key Industry Players
Major companies operating in the information technology (IT) and telecom cyber security market are Dell Technologies Inc., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Broadcom, Telefonaktiebolaget Lm Ericsson, Bae Systems Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Symantec Corporation, Splunk Inc., Micro Focus International, Check Point Software Technology Ltd., CrowdStrike, McAfee LLC, Trend Micro Incorporated, Zscaler Inc., Proofpoint Inc., AO Kaspersky Lab, Tenable Holdings Inc., Rapid7, Sophos, CyberArk Software Ltd., FireEye Inc., SecureWorks Corp., Qualys Inc., Varonis Systems Inc., Mimecast Ltd., Okta Inc.
The information technology (it) and telecom cyber security market report table of contents includes:
- Executive Summary
- Information Technology (IT) And Telecom Cyber Security Market Characteristics
- Information Technology (IT) And Telecom Cyber Security Market Trends And Strategies
- Information Technology (IT) And Telecom Cyber Security Market – Macro Economic Scenario
- Global Information Technology (IT) And Telecom Cyber Security Market Size and Growth
- Information Technology (IT) And Telecom Cyber Security Market Segmentation
- Information Technology (IT) And Telecom Cyber Security Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Information Technology (IT) And Telecom Cyber Security Market
- Information Technology (IT) And Telecom Cyber Security Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Information Technology (IT) And Telecom Cyber Security Market, Segmentation By Security Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Information Technology (IT) And Telecom Cyber Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Information Technology (IT) And Telecom Cyber Security Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………..
Table 74: Africa, Information Technology (IT) And Telecom Cyber Security Market, Segmentation By End-User Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 75: Dell Technologies Inc. Financial Performance
Table 76: Intel Corporation Financial Performance
Table 77: International Business Machines Corporation Financial Performance
Table 78: Cisco Systems Inc. Financial Performance
Table 79: Broadcom Financial Performance
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