Wireless Network Security Market worth $15.55 Billion by 2019

Monday 12 May 2014, Amsterdam

The report "Wireless Network Security Market by Solutions (Firewall, IPS/IDS, Encryption, I&AM, UTM), Services (Security Operations, Consulting, Managed Security Services) - Worldwide Market Forecasts and Analysis (2014-2019)" defines and segments the wireless network security market into various segments and provides an in-depth analysis and forecasting of revenues. This research report helps to identify the factors driving this market, various restraints, challenges, and opportunities impacting it along with the future roadmaps.

The new report broadly segments the wireless network security market by solutions: firewall, intrusion prevention/detection system (IPS/IDS), encryption, identity & access management (I&AM), unified threat management (UTM), and others; by services: security operations, consulting services, managed security services (MSS), and others; and by verticals: banking, financial services, and insurance (BFSI), government & utilities, telecommunication & IT, healthcare, aerospace & defense, retail, manufacturing, and others; and by regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).

Rise of wireless networks in enterprises and increase in adoption of mobile devices at workplaces are the primary factors driving the growth for this market. Wireless network security solutions address the need of protecting the data from enterprises side. With the adoption of wireless networks on workplace, attackers are now using advanced and more sophisticated tools to infiltrate in enterprise networks which have caused big dents in revenues. There are several vendors in this market offering various solutions and services. These offerings are mostly standardized but for specific demands, customized offerings are also available. In this market, generally the demands of customers varies and hence customization is very important.

As per study, enterprises are now deploying wireless networks for data transfer and communication. The prime reason behind high adoption rate is low maintenance cost and high data-transfer capabilities. At the same time, enterprises are implementing new technologies such as BYOD, which increases the use of mobile devices on workplace. It enhances the use of wireless networks which brings agility in organizational processes. Wireless networks have these perks although these networks are quite vulnerable to security threats such as attacks on network and data theft.

The report expects the Wireless Network Security Market to grow from $8.47 billion in 2014 to $15.55 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 12.94% during the forecast period. The new report expects NA to hold the largest market for Wireless Network Security market in terms of geographical regions and over the next five years, it is expected to continue this pace but APAC and LA would be the regions with higher growth rates.