Overview and Scope
Telecom cyber security solutions refer to a comprehensive set of technologies and practices designed to safeguard telecommunications networks, systems, and data from cyber threats and attacks. These solutions are employed to protect critical telecommunications infrastructure, prevent data breaches, ensure network integrity, and maintain the confidentiality, availability, and authenticity of communications.
Sizing and Forecast
The telecom cyber security solution market size has grown rapidly in recent years. It will grow from $32.51 billion in 2023 to $38.15 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to rise of mobile connectivity, increasing reliance on digital communication, growing cyber threats, historic data breaches, legacy infrastructure vulnerabilities.
The telecom cyber security solution market size is expected to see rapid growth in the next few years. It will grow to $71.76 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to expansion of cloud services, proliferation of connected devices, emphasis on privacy protection, evolving threat landscape, demand for managed security services. Major trends in the forecast period include shift towards zero-trust architecture, focus on identity and access management, emphasis on privacy and data protection regulations, development of telecom-specific security standards.
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Segmentation & Regional Insights
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
North America was the largest region in the telecom cyber security solution market in 2023. 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.
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Major Driver Impacting Market Growth
The rise in cyber-attack incidents is expected to propel the growth of the telecom cyber security solution market going forward. A cyberattack is a malicious attempt by an individual or organization to compromise computer systems, networks, or digital devices, often with the intent of stealing sensitive data, disrupting operations, or causing damage. The rise in cyber-attack incidents can be attributed to increasing connectivity and the growing digital landscape, creating more opportunities for malicious actors. Telecom cybersecurity solutions mitigate cyber-attack incidents by implementing robust threat detection, encryption protocols, and network segmentation to safeguard against vulnerabilities and unauthorized access in the telecom industry. For instance, according to the Internet Crime Report 2022 published by the Federal Bureau of Investigation (FBI), a US-based national security agency and law enforcement organization, the Internet Crime Complaint Center (IC3) received 300,497 phishing complaints in 2022, with financial losses attributed to phishing complaints amounting to $0.052 billion, while in the preceding year of 2021, the corresponding figure stood at $0.044 billion. Therefore, the rise in cyber-attack incidents is driving the growth of the telecom cyber-security solution market.
Key Industry Players
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.
The telecom cyber security solution market report table of contents includes:
1. Executive Summary
2. Telecom Cyber Security Solution Market Characteristics
3. Telecom Cyber Security Solution Market Trends And Strategies
4. Telecom Cyber Security Solution Market – Macro Economic Scenario
5. Global Telecom Cyber Security Solution Market Size and Growth
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32. Global Telecom Cyber Security Solution Market Competitive Benchmarking
33. Global Telecom Cyber Security Solution Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Telecom Cyber Security Solution Market
35. Telecom Cyber Security Solution Market Future Outlook and Potential Analysis
36. Appendix
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