The North America IT And Telecom Cyber Security Market is expected to witness market growth of 13.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America IT And Telecom Cyber Security Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $21.19 billion by 2031. The Canada market is experiencing a CAGR of 15.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 14.7% during 2024-2031.
The IT and telecom industries are at the core of digital transformation, driving connectivity, communication, and innovation in nearly every sector of the economy. The significance of comprehensive cyber security measures in these industries has increased exponentially as businesses and consumers become more dependent on digital platforms, cloud computing, and interconnected systems.
The rise of cyber-attacks targeting IT and telecom infrastructure has underscored the critical need for cyber security solutions that can address both existing vulnerabilities and emerging threats. Sophisticated threats such as ransomware, phishing campaigns, and Distributed Denial of Service (DDoS) attacks have become more frequent, causing widespread disruptions and financial losses.
The transition from 4G to 5G in Canada is projected to significantly boost economic growth, with telecommunications providers expected to invest $26 billion in networks by 2026. This shift to 5G is anticipated to contribute up to $40 billion annually to the Canadian economy, further emphasizing the importance of cyber security in securing critical digital infrastructure across North America. Programs like Canada’s National Cyber Security Strategy provide funding and resources to protect critical infrastructure, including IT and telecom systems. The government has also introduced measures like the Personal Information Protection and Electronic Documents Act (PIPEDA) to ensure companies adopt strong data protection practices. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
The US market dominated the North America IT And Telecom Cyber Security Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $21.19 billion by 2031. The Canada market is experiencing a CAGR of 15.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 14.7% during 2024-2031.
The IT and telecom industries are at the core of digital transformation, driving connectivity, communication, and innovation in nearly every sector of the economy. The significance of comprehensive cyber security measures in these industries has increased exponentially as businesses and consumers become more dependent on digital platforms, cloud computing, and interconnected systems.
The rise of cyber-attacks targeting IT and telecom infrastructure has underscored the critical need for cyber security solutions that can address both existing vulnerabilities and emerging threats. Sophisticated threats such as ransomware, phishing campaigns, and Distributed Denial of Service (DDoS) attacks have become more frequent, causing widespread disruptions and financial losses.
The transition from 4G to 5G in Canada is projected to significantly boost economic growth, with telecommunications providers expected to invest $26 billion in networks by 2026. This shift to 5G is anticipated to contribute up to $40 billion annually to the Canadian economy, further emphasizing the importance of cyber security in securing critical digital infrastructure across North America. Programs like Canada’s National Cyber Security Strategy provide funding and resources to protect critical infrastructure, including IT and telecom systems. The government has also introduced measures like the Personal Information Protection and Electronic Documents Act (PIPEDA) to ensure companies adopt strong data protection practices. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
List of Key Companies Profiled
- Check Point Software Technologies Ltd.
- Trend Micro, Inc.
- Palo Alto Networks, Inc.
- McAfee Corp.
- Cisco Systems, Inc.
- Fortinet, Inc.
- IBM Corporation
- Microsoft Corporation
- Wipro Limited
- Infosys Limited
Market Report Segmentation
By Deployment
- On-premise
- Cloud
By Component
- Software
- Hardware
- Services
By Enterprise Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America IT And Telecom Cyber Security Market by Deployment
Chapter 6. North America IT And Telecom Cyber Security Market by Component
Chapter 7. North America IT And Telecom Cyber Security Market by Enterprise Size
Chapter 8. North America IT And Telecom Cyber Security Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Check Point Software Technologies Ltd.
- Trend Micro, Inc.
- Palo Alto Networks, Inc.
- McAfee Corp.
- Cisco Systems, Inc.
- Fortinet, Inc.
- IBM Corporation
- Microsoft Corporation
- Wipro Limited
- Infosys Limited
Methodology
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