Security
software is a type of software that secures & protects a network, computer,
or any computing-enabled device. It secures the system against viruses &
network/Internet based intrusions, provides data protection, manages access
control, and defends against other system-level security risks. Security
software solutions have the ability to defend the application & management
network in telecom industry from interruption and loss of confidential data. It
encompasses several areas for instance data protection, email security, web
security, compliance, architecture, governance, security information &
event management, data loss prevention, and identity & access.
Based
on component type, security software in telecom market is segmented into
services component and solution component. The services segment is further
sub-segmented into managed services and professional services. The professional
services segment includes risk assessment, support & maintenance, design
& implementation, and others. The solution segment is further sub-segmented
into identity and access management (IAM), encryption, risk & compliance
management, data loss prevention (DLP), security information and event
management (SIEM), firewall, unified threat management, distributed denial of
service mitigation (DDoS), and others. Based on security type, market is
segmented into endpoint security, network security, cloud security, application
security and others. Based on deployment of software, market is sub-segmented
into on-premise deployment and cloud deployment. In addition, based on
end-user, market is segmented into small & medium enterprise, large
enterprises, and government organization.
The
security software in telecom market is driven by increase in data breach
incidents, followed by rise in internet penetration, growth in broadband
adoption, increase in advanced & sophisticated threats and rise in need for
data services. However, high total cost of ownership and presence of
inexpensive security solutions may impact the market. Moreover, growth in
popularity of Software-as-a-service based security solutions and convergence of
technologies are key opportunities for market.
Based
on geography, the North-American region dominates the security software in
telecom market, followed by European region owing to rise in availability of
internet-enabled solutions & cloud services and increase in deployment of
Internet of Things (IoT) in the region. The Canada and U.S. countries are
facing high-profile cyber-attacks in telecom sector, which is one of the main
reasons stimulating the demand for security software. The Asian-Pacific region
is expected to witness higher growth rate due to rise in number of
cyber-attacks, stringent government regulations and rapid digitization coupled
with developments of cloud computing technologies over the forecast period. The
global market has registered the growth rate of 13.8% CAGR throughout the
forecast period (2018-2025) by targeting to reach the market value of US
$8,923.8 million by the year 2025.
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