According to Stratistics MRC, the Global Wireless Network Security Market is valued at $9.56 billion in 2015 and is expected to grow at a CAGR of 13.82% to reach $23.67 billion by 2022. Increasing count of wireless networks in enterprises, rising demand for WLAN security systems, growing adoption of smart phones at work places and encouraging government regulations are some of the key factors fostering the market growth. Conversely, local vendors offering the low-cost solutions and presence of free online solutions act as a major challenge to market.
Being early adopters, BFSI and aerospace & defense industries contribute a major proportion to the market revenue. Opportunities lie in services segment as it is estimated to grow at a faster pace. North America is the leading market followed by Europe. Asia Pacific including Japan will also be a major contributor in upcoming years. MEA and Latin America are anticipated to grow at a significant CAGR during the forecast period.
Some of the key players in global Wireless Network Security market are Aerohive, Aruba Networks, Brocade Communications Systems, Inc., Cisco Systems, Inc., Fortinet, Juniper Networks, Motorola Solutions, Ruckus, Sophos Ltd., Symantec Corporation, Honeywell, ADT, Robert Bosch and Qualcomn.
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