Wireless Network Security Market Size, Share & Growth [2031]

Report Description

The global wireless network security market size was valued at USD 20.9 Billion in 2022 and is likely to reach USD 57.2 Billion by 2031, expanding at a CAGR of 13.8% during the forecast period, 2023–2031. The market growth is attributed to the growing use of the Internet of Things (IoT) and the rising demand for high-security networks in ever-changing technological developments.

Wireless network security involves the implementation of security protection for a wireless computer network. In other words, wireless security ensures high security in various wireless networks used in a computer system. The main function of wireless security is to prevent any illegal or unauthorized access to data in a computer through wireless networks, especially using Wi-Fi.

Get Free Sample Report

Network security is widely adopted by businesses as it ensures high protection of their networks from malicious and unwanted access attempts. This way, businesses can protect their confidential data and process their operation with high integrity by minimizing the risks involved in data damage from adversaries.

Several end-user industries adopt network security for various service solutions including consulting operations, managed security services, and security operations. WEP, WPA, WPA2, and WPA3 are the major existing wireless security protocols that offer the most secure platforms and ensure Wi-Fi security for various business organizations.

WEP and WPA are the most widely used wireless network security protocols compatible with the most common hardware of a computer. However, firmware upgrade or replacement is required to support WPA2 and WPA3, due to their complex encryption systems.

These wireless protocols are encrypted with complex programs to provide data confidentiality for users. Several organizations prefer wireless communication as it is easy to set up and minimize some of the drawbacks of wired communication structures.

Wireless network protection is cost-effective in contrast with the wired framework and is conveniently accessible. Wireless network security has importance in wireless communication to prevent unwanted network risks. However, a wireless security system has no wires to cut and is harder to bypass or work around.

COVID-19 Impact on Wireless Network Security Market

The market report finds that the COVID-19 pandemic led to a massive increase in the use of wireless network security among government agencies and business organizations. The pandemic brought a dynamic change in the corporate world as organizations had to shift toward digital platforms and solutions to continue their business operations.

With the rising imposition of travel and movement restrictions by governments across the globe, companies were forced to implement a work-from-home policy for employees and had to rely on online platforms for communications. This led to a sudden boost in the adoption of digital networks among companies.

Thus, the majority of businesses worldwide ended up using wireless network security to prevent their digital networks from any third party or illegal access and protect them from network security breaches. Business organizations had to spend more on network security solutions and services to secure their online platforms, which means the protection of their confidential data.  

Wireless Network Security Market Dynamics

The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities & potentials, and emerging challenges. The global wireless network security market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.

Get Free Sample Report

Major Drives

Rising Cases of Cybercrime & Security

The exponential increase in the global cases of cybercrime and security is largely influenced by the rising use of the internet and the surge in the adoption of digital platforms among businesses.

The security breach resulted in compromising several confidential information about personal and organizational data, which lead to financial jeopardy for businesses. Cybercrime takes place in form of ransomware attacks, identity fraud, copyright infringement, data theft, and phishing campaigns.

As per the 2022 report of Statista, the monetary damage caused by data breaches reached nearly USD 4.2 billion in 2020, however, the financial repercussions impacted differently depending on the size of the organization, industry types, and regions.

Growing use of IoT and Innovations such as BYOD

Growing use of IoT as a major communications network and the rising implementation of bringing your own device (BYOD) among business organizations are key factors driving the market. With the increasing expansion of business operations, the deployment of advanced network technology across industries are significantly rising over recent years.

The increasing use of network technology among end-user industries leads to the rising demand for wireless network security to safeguard sensitive data by encryption.

Increasing Demand for WLAN Security Framework

The high demand for wireless LAN (WLAN) security framework is a vital aspect of boosting the use of wireless network security. The deployment of network security enhances WLAN’s network performance and ensures high safety and speed of data transmission in a safe environment.

In addition to efficiency in data transfer, the WLAN security framework offers a security standard that allows an easy mechanism of entity authentication and access control for large networks. 

Existing Restraints

The increasing piracy of wireless network security solutions is projected to hamper the market expansion during the forecast period. There are three major security threats to a wireless network such as advanced persistent threats, malware, and distributed denial-of-service attacks.

If the wireless networks are not secure then credentials including passwords, usernames, card details, and other sensitive data are at risk and face undesirable consequences.

Emerging Opportunities

With the rising investment in innovative devices and technological advancements, market players are developing advanced types of wireless devices such as routers or switches. These tools have high encryption by design to protect data access in case of any security breach in a network system. Thus, technological advancements in wireless security solutions are expected to create lucrative opportunities for market players.

Scope of Wireless Network Security Market Report

The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Wireless Network Security Market Segment Insights

Solution Segment Analysis

Based on the solution, the global wireless network security market is divided into firewall, encryption, identity & access management, unified threat management, intrusion prevention system, and others.

The intrusion prevention system segment is expected to expand at a significant growth rate during the projected period. The segment growth is attributed to the wide adoption of the solution to safeguard highly sensitive infrastructure and provide data confidentiality.

Wireless intrusion prevention systems or wireless intrusion detection systems (WIDS) offers effective detection system that protects from authorized access to data. WIDS ensures that unauthorized users are prevented to access the data transfer even in the case of a security breach. It also has an alerting system in the event of security breaches. 

The identity & access management segment is anticipated to hold a key share of the market in the coming years. Identity and access management is a web service that aids in securing control access to useful resources. Moreover, identity and access management are employed to check authorized and authenticated access to the resources.

Get Free Sample Report

Service Segment Analysis

On the basis of service, the global market is segregated into consulting operations, managed security services, security operations, and others. The consulting operations segment is projected to register a considerable CAGR during the forecast period as consulting services evaluate security issues, identify problems, assess risk, and implement solutions to defend against threats to companies.

Consulting operations offer services that improve a company’s internal performance in the value chain. The security services segment is anticipated to account for a major market share in the coming years.

Wireless networks are less secure as compared to wired ones; thus, wireless security protocols are crucial for keeping organizational resources safe. There are four wireless security protocols currently available including Wired Equivalent Privacy (WEP), Wi-Fi Protected Access (WPA), Wi-Fi Protected Access 2 (WPA 2), and Wi-Fi Protected Access 3 (WPA 3). 

End-user Segment Analysis

In terms of end-user, the global wireless network security market is categorized as government & utility, BFSI, manufacturing, telecom & IT, retail, aerospace & defense, healthcare, and others.

The e-commerce segment is projected to register a considerable share of the market in the coming years. Companies are dependent on online platforms to attract customers which increases the chances of customer scams. Many e-commerce companies are adopting wireless network security solutions to encounter malware attacks and phishing attacks which lead to access to the identity of customers and financial accounts.

The healthcare segment is expected to hold a substantial CAGR, as information security and privacy are becoming increasingly important in the healthcare business. The average cost of a data breach in the healthcare sector is 7.13 million dollars. Thus, key companies invest in emerging technologies to lower operating costs and improve healthcare services.

Get Free Sample Report

Deployment Segment Analysis

Based on deployment, the global market is bifurcated into cloud and on-premise. The cloud segment is anticipated to hold a key share of the market in the coming years. Cloud-based security technology runs on a system of remote servers over the internet. Sever specialist is not needed in the case of cloud-based security. Moreover, the company is responsible for managing its own servers with on-premise security technology.

Regional Analysis

In terms of region, the global wireless network security market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America region currently dominates the wireless network security market by introducing various trend-setting security solutions, such as wireless LAN security.

Such methods are successfully applied in both business mode and personal mode (home connections). The adoption of advanced technology, the presence of large enterprises, and the rising frequency of network attacks are the key factors for market growth in the US. Furthermore, the region has a considerable hold of the major players in the market including Juniper Networks, Inc., Fortinet, Inc., Symantec Corporation, and Cisco Systems, Inc.

The wireless network security market in the Asia Pacific region is expected to grow in a positive way due to the increasing adoption of enterprise IT infrastructure services. For instance, China is investing in the research and development of security software and developing in the market. The government of China is propelling citizens to include digitization in their daily lives.

Get Free Sample Report