Market Size of Wireless Network Security Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 12.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Wireless Network Security Market Analysis
The wireless network security market is expected to register a CAGR of over 12.5% over the forecast period. The increasing consumer propensity toward adopting wireless devices in residential and commercial spaces is augmenting the wireless network security demand.
- The growing number of enterprises opting for digital networks and mobile devices is further influencing the market. According to a report from the Wireless Broadband Alliance (WBA), more than a third (33%) of service providers, technology vendors, and enterprises already have plans to deploy Wi-Fi 7 by the end of last year. Moreover, the report also revealed that Wi-Fi 6E had become the de facto industry standard, with 53% having already deployed the technology and a further 44% working on plans to adopt Wi-Fi 6E in the next 12-18 months. Such developments are expected to influence enterprises to enhance their security as well.
- The global adoption of Wi-Fi is on the rise in both commercial and residential space, with a growing number of mobile devices that are connected to high-speed internet is on the rise. According to Cisco, the Wi-Fi hotspots are expected to grow to 628 million public Wi-Fi hotspots by this year from 169 million in 2018. The growing adoption of IoT augments growth. With the change in the number of Wi-Fi hotspots, security risks are increasing, and these enterprises are moving toward adopting robust encryption. WEP uses an old encryption method and holds prominence in old systems, whereas WPA is one of the widely used standards among network devices.
- WEP and TKIP protocols were deemed insecure many years ago. Wi-Fi connections carried out via these protocols can be decrypted relatively quickly, and various hardware vendors are increasingly avoiding these protocol usage. Starting with May 2019, Windows 10 warned its users if they attempted to connect to a Wi-Fi network that uses these protocols. Apart from this, WPA-enabled devices are prone to attacks. For instance, a new bug present on the chips made by Broadcom and Cypress rendered about one billion devices vulnerable to an attack that can decrypt information in transit, and the bug is called 'Kr00k'. Using the flaw, attackers can exfiltrate information by intercepting and decrypting packets sent over the WPA2 network.
- Devices, such as Amazon Echo, Kindle, iPhone, iPad, MacBook, Google Nexus, Samsung Galaxy, Raspberry Pi 3, Xiaomi, and some Asus and Huawei products, tested positive for Kr00k vulnerability. Due to such developments, the wireless security demand is expected to become vital, especially in network-handling mission-critical workloads. With the increasing deployment of IoT and BYOD trends, the need for wireless network security is expected to be one of the enterprises' priorities. According to a study by Outpost24, 61% of security experts mentioned that BYOD offers a severe threat to their organization, and 21% feared attacks via office-based IoT devices, such as printers. The greatest wireless attack threats were password theft at 62% and Botnet/Malware threats at 60%.
- Further, emerging economies plan to boost connectivity to contribute to the market growth rate. For instance, Brazil announced plans to increase public Wi-Fi availability. According to the technical cooperation agreements signed by the Banco do Brasil Foundation and the Brazilian Micro and Small Business Support Service (SEBRAE) with the Ministry of Communications, approximately 500 new Wi-Fi hotspots will be put in place by last year, benefiting 1,000 locations nationwide. The growing adoption of IoT augments growth. With the change in the number of Wi-Fi hotspots, security risks are increasing, and these enterprises are moving toward adopting robust encryption.
- The CISA (Cybersecurity and Infrastructure Security Agency), which is a part of the Department of Homeland Security, warned of COVID-19 network-security issues, with the most common including phishing, malware distribution, registration of new domain names containing wording related to coronavirus or COVID-19 and attacks against newly and often rapidly deployed remote-access and teleworking infrastructure. In April 2020, CISA released new guidance on how remote government workers and potentially others should address network security. It included interim Trusted Internet Connections (TIC) 3.0 advice to aid agencies in securing their network and cloud environments.
Wireless Network Security Industry Segmentation
Wireless network security primarily protects the wireless network from unauthorized and malicious access attempts delivered via wireless devices. The solution encrypts and secures all wireless communication and offers intrusion detection and prevention. Some standard algorithms to ensure network security include Wired Equivalent Policy (WEP) and Wireless Protected Access (WPA). The study under consideration offers market developments and data via segments, such as solutions, deployment mode, end-user vertical, geography, and competitive landscape.
The wireless network security market is segmented by solution (firewall, encryption, identity, and access management, unified threat management, Intrusion Prevention System (IPS)/Intrusion Detection System (IDS), and other solutions), deployment (on-premise, cloud), end-user industry (BFSI, healthcare, retail, manufacturing, IT & Telecom, government, aerospace, and defense, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa).
The market sizes and forecasts are in terms of value (USD million) for all the above segments.
By Solution | |
Firewall | |
Encryption | |
Identity and Access Management | |
Unified Threat Management | |
Intrusion Prevention System (IPS)/Intrusion Detection System (IDS) | |
Other Solutions |
By Deployment | |
On-premise | |
Cloud |
By End-user Industry | |
BFSI | |
Healthcare | |
Retail | |
Manufacturing | |
IT and Telecom | |
Government | |
Aerospace and Defense | |
Other End-user Industries |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East & Africa |
Wireless Network Security Market Size Summary
The wireless network security market is poised for significant growth, driven by the increasing adoption of wireless devices in both residential and commercial sectors. The shift towards digital networks and mobile devices by enterprises is further propelling the demand for robust security solutions. The widespread deployment of advanced Wi-Fi technologies, such as Wi-Fi 6E and the anticipated Wi-Fi 7, is prompting organizations to enhance their security measures. As the number of IoT-connected devices continues to rise, so do the security risks, necessitating the adoption of strong encryption methods. The market is also witnessing a shift away from outdated protocols like WEP and TKIP, which are considered insecure, towards more secure standards such as WPA. However, vulnerabilities like the 'Kr00k' bug highlight the ongoing challenges in securing wireless networks, especially in environments handling sensitive data.
North America, particularly the United States, is expected to be a major contributor to the market's growth due to its early adoption of advanced technologies and the presence of key industry players. The region's increasing frequency of cyberattacks, driven by the proliferation of connected devices, underscores the need for robust wireless security solutions. The retail sector, with its growing use of IoT to enhance operational efficiency and customer experience, is also a significant driver of market demand. Companies are actively pursuing mergers and acquisitions to strengthen their product offerings, while continuous updates to existing technologies are essential to address emerging threats. Regulatory measures, such as the US Federal Communications Commission's ban on certain Chinese telecommunications equipment, further highlight the importance of securing wireless networks against potential vulnerabilities.
Wireless Network Security Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview ( Covers the impact of COVID-19)
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Solution
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2.1.1 Firewall
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2.1.2 Encryption
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2.1.3 Identity and Access Management
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2.1.4 Unified Threat Management
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2.1.5 Intrusion Prevention System (IPS)/Intrusion Detection System (IDS)
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2.1.6 Other Solutions
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2.2 By Deployment
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2.2.1 On-premise
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2.2.2 Cloud
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2.3 By End-user Industry
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2.3.1 BFSI
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2.3.2 Healthcare
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2.3.3 Retail
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2.3.4 Manufacturing
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2.3.5 IT and Telecom
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2.3.6 Government
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2.3.7 Aerospace and Defense
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2.3.8 Other End-user Industries
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2.4 Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 Latin America
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2.4.5 Middle East & Africa
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Wireless Network Security Market Size FAQs
What is the current Wireless Network Security Market size?
The Wireless Network Security Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in Wireless Network Security Market?
Cisco Systems Inc., Juniper Networks Inc., Fortinet Inc., Aruba Networks (HPE) and Broadcom Inc. (Symantec Corporation) are the major companies operating in the Wireless Network Security Market.