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Telecom Cyber Security Solution Market Size, Share, Trends, Insights And Forecast To 2033
Telecom Cyber Security Solution Market Overview
As per the report, the telecom cyber security solution market size has grown rapidly in recent years. It will grow from $32.51 billion in 2023 to $38.15 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The telecom cyber security solution market size is expected to see rapid growth in the next few years. It will grow to $71.76 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%.
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Rise In Cyber-Attack Incidents Boosts Telecom Cyber Security Solution Market
The rise in cyber-attack incidents is expected to propel the growth of the telecom cyber security solution market going forward. A cyberattack is a malicious attempt by an individual or organization to compromise computer systems, networks, or digital devices, often with the intent of stealing sensitive data, disrupting operations, or causing damage. The rise in cyber-attack incidents can be attributed to increasing connectivity and the growing digital landscape, creating more opportunities for malicious actors. Telecom cybersecurity solutions mitigate cyber-attack incidents by implementing robust threat detection, encryption protocols, and network segmentation to safeguard against vulnerabilities and unauthorized access in the telecom industry. For instance, according to the Internet Crime Report 2022 published by the Federal Bureau of Investigation (FBI), a US-based national security agency and law enforcement organization, the Internet Crime Complaint Center (IC3) received 300,497 phishing complaints in 2022, with financial losses attributed to phishing complaints amounting to $0.052 billion, while in the preceding year of 2021, the corresponding figure stood at $0.044 billion. Therefore, the rise in cyber-attack incidents is driving the growth of the telecom cyber-security solution market.
Major Telecom Cybersecurity Players Innovate With Advanced Generative AI (Artificial Intelligence) Solutions
Major companies operating in the telecom cyber security solution market are increasing their focus on developing advanced solutions, such as advanced generative AI (artificial intelligence) technology for the telecom industry, to enhance security measures and resilience within the telecom industry. It leverages machine learning algorithms to create innovative cybersecurity solutions autonomously, improving threat detection and response capabilities. For instance, in September 2023, Netcracker Technology, a US-based software technology company, launched the GenAI Telco Solution. This platform features secure integration of popular generative AI models, robust security measures, an observability framework for accurate outcomes, and a unified approach for optimal business outcomes. This integration of artificial intelligence (AI) and machine learning (ML) ensures efficient processing of telco data, enhances customer interactions and strengthens data protection, addressing critical security concerns in the telecom cybersecurity solution market.
The telecom cyber security solution market covered in this report is segmented -
1) By Type: Device, Service, Software
2) By Deployment Model: Cloud, On-Premise
3) By Application: Small Businesses, Medium Businesses, Large Businesses
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Major companies operating in the telecom cyber security solution market are Microsoft Corporation, Accentur*e, International Business Machines Corporation, Cisco Systems Inc., PricewaterhouseCoopers International Limited, Schneider Electric SE, Broadcom Inc., Tata Consultancy Services, Bae Systems Inc., Capgemini, Cognizant, Infosys Limited, HCL Technologies Limited, Wipro Limited, Rockwell Automation Inc., Tech Mahindra Limited, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Symantec Corporation (NortonLifeLock Inc.), F5 Networks Inc., Splunk Inc., Check Point Software Technology Ltd., Trend Micro Incorporated, AO Kaspersky Lab, L&T Technology Services Limited (LTTS), Rapid7 Inc., CyberArk Software Ltd.
Contents of the report:
1. Executive Summary
2. Telecom Cyber Security Solution Market Report Structure
3. Telecom Cyber Security Solution Market Trends And Strategies
4. Telecom Cyber Security Solution Market - Macro Economic Scenario
5. Telecom Cyber Security Solution Market Size And Growth
…..
27. Telecom Cyber Security Solution Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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