The Latin America, Middle East and Africa Wireless Network Security Market would witness market growth of 15.8% CAGR during the forecast period (2023-2030).
Organizational networks are more vulnerable to cyberattacks for data theft due to the internet and new technologies. These firms incorporate wireless network security solutions to protect themselves from invasive access and harmful activity. In order to reach a wider audience and expand their income base, businesses in the market are investing in their R&D efforts to provide cutting-edge wireless network security solutions.
The expanding use of wireless technology has been a significant element in the expansion of this market, particularly in nations with poor internet penetration and poor digital infrastructure. Governments and utility businesses increasingly need these solutions due to the growing demand for secure network architecture to protect personal data and national security concerns.
The adoption of 5G technology is rising quickly. With improved network solutions, 5G increases bandwidth use, dependability, and delay while enabling devices to operate at high rates. As a result, technologies, including machine learning (ML), industrial IoT, artificial intelligence (AI), and others, have adopted 5G widely. More data is anticipated to be shared over the network as 5G technology is rapidly incorporated into business applications, creating new risks to data security. Cyberattackers cause concern for users and 5G service providers. The demand for security solutions will likely increase by adopting 5G services. Therefore, over the projected period, the rising trend of deploying 5G services is expected to drive the expansion of this market.
Saudi Arabia is actively developing many smart cities, including NEOM, Red Sea, Qiddiya, Waad Alshamal, and SPARK, and intends to be the world's most connected and digitally advanced country by 2030, according to the International Trade Administration. The International Data Corporation (IDC) projects that Saudi Arabia's IoT industry will expand 12.8 percent annually to $2.9 billion by 2025. Data centers, cloud computing, industrialized IoT, and artificial intelligence are some of the areas of attention. The market is expected to develop as a result of the rising use of IoT technologies and security services in this region.
The Brazil market dominated the LAMEA Wireless Network Security Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,084.6 million by 2030. The Argentina market is showcasing a CAGR of 16.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 15.5% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Firewall, Identity & Access Management, Encryption, Intrusion Prevention System (IPS)/Intrusion Detection System (IDS), Unified Threat Solutions and Others) and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On premise and Cloud. Based on End-use, the market is segmented into BFSI, Government & Defense, IT & Telecom, Healthcare & Lifesciences, Retail, Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Wireless Network Security Market is Projected to reach USD 57.7 Billion by 2030, at a CAGR of 12.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Check Point Software Technologies Ltd., Aruba Networks (Hewlett Packard Enterprise Company), Kaspersky Lab, Cisco Systems, Inc., Fortinet, Inc., Juniper Networks, Inc., Motorola Solutions, Inc., Sophos Group PLC (Thoma Bravo), Broadcom, Inc. (Symantec Corporation) and Trend Micro Inc.
By Component
By Enterprise Size
By Deployment Type
By End-use
By Country
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