The 2023 report on the “Telecom Cyber Security Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Telecom Cyber Security Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Telecom Cyber Security is a technique of protection of computer systems and networks during the transmission of information by various types of technologies. This form of cyber security protects data from information disclosure, theft, or electronic data, also from the misdirection or disruption of the services. The increasing number of online fraudulent activities, growth of the telecom sector, coupled with rising government initiatives are the prominent factors that are burgeoning the market demand across the globe.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the 2021 Cost of a Data Breach Report, it was estimated that the average data breach cost increased from USD 3.86 million in 2020 to USD 4.24 million in 2021. Therefore, the rising incidences of online fraudulent activities are fueling the demand for Telecom Cyber Security, which is accelerating market growth across the globe.
In addition, the increasing number of strategic initiatives by the key market players and rising emphasis on safety and security among various enterprises create various prospects for market growth over the forthcoming years. However, a lack of skilled professionals is hindering stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Telecom Cyber Security Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the space in terms of revenue, owing to the rising incidences of online fraudulent activities, as well as the growing focus on safety and security among various enterprises. Whereas, the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as the increasing number of data centers, a proliferation of IoT devices, and rising government support and initiatives.
Major market players included in this report are:
BAE Systems plc
Cisco Systems, Inc.
Huntsman Security
IBM Corporation
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Kaspersky Lab
MWR InfoSecurity Limited
Prodaft Sarl
PT. Sarana Solusindo Informatika (SOLUSI)
Senseon Tech LTD
Symantec Corporation
Recent Developments in the Market:
In September 2022, Finnish telecommunications company has announced the launch of 5G Industrial Incubation Lab in Adelaide, South Australia. The telecom and the South Australia Government’s Department for Trade and Investment entered into an agreement to for the establishment of 5G Industrial Incubation Lab.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Components:
Hardware
Software
Service
By End User:
Small & Medium Enterprises
Large Enterprises
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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