Home Wi-Fi Security Device Market Will Continue to Grow, says ResearchNester

By Deepak Prasad, ResearchNester

With rising urbanization, there is an increased requirement for IoT devices. It has been estimated that there are nearly 300.1 million smart homes in the world. These IoT and smart home devices do not have in built security or encryption so it is important to set string passwords and robust multi-factor authentication to eliminate unauthorized or malicious access.

Wi-Fi security is the protection of networks and devices connected in the wireless environment. Without the usage of Wi-Fi security, a networking device such as a router or wireless access point can be intruded on by any user. Let us understand how unsafe Wi-Fi networks can create risk.

Unsecured or open wireless networks are accessible to any Wi-Fi-enabled devices such as smartphones or computers. Utilizing an unsecured network can be precarious for consumers. The intruders can eavesdrop on communication and get access to important business data. Businesses and IoT users are required to protect the Wi-Fi network.

Ways to protect Wi-Fi network: Apart from keeping a secure and difficult password, there are Home Wi-Fi security devices that are useful in protecting connected devices from numerous virtual intruders such as viruses, hackers, and malware. Some of the software solutions designed to secure Wi-Fi are fabricated as a backbone of the internet. These software solutions act as a defense against breaches of wireless networks by saving them from malevolent intruders.

Types of Wi-Fi network security devices

Active Devices: There are numerous types of commercially available devices that render network security by blocking adversarial attacks and unwanted network traffic.

These are known as active devices which are configured on the hardware level to block the surplus network traffic.

Passive devices: The passive security devices first detect and then report on unwanted traffic networks. The passive device consumes less power than other Wi-Fi devices. It has an additional layer that makes MITM attacks even more complicated.

Preventive device: A preventive device is a WIPS (wireless intrusion prevention system) that is able to scan networks in order to identify probable potential security issues. A wireless intrusion prevention system can be integrated into the network with the use of standalone sensors.

Unified threat management systems: A UTM system consists of important elements of network security such as VPN, content filtering, firewalls, and antivirus detection. A UTM renders a simplified way to attach multiple security functions. Some of the issues that can be witnessed by Wi-Fi users are as follows:

IP spoofing: Attackers utilize IP spoofing in order to penetrate the wireless network by imitating trusted IP addresses. It refers to creating Internet Protocol packets with a fake source IP address.

DNS cache poisoning: The wireless networks are also very susceptible to threats called DNS cache poisoning, often called DNS spoofing. The tactic includes hacking a network and diverting the network traffic.

Piggybacking and war driving: Malevolent actors can utilize unsecured or open networks in order to conduct illegal activities and steal information. Piggybacking involves only mapping or logging the existence of various access points.

Home Wi-Fi Security Solutions Market

The global home Wi-Fi security solutions market size reached USD 19.2 billion in the year 2021. The market is expected to touch a valuation of USD 107 billion by the year 2032. The reasons for the growth of the market are:

– A rising surge in the number of internet users and smart devices are expected to fuel the demand

– Rising penetration of the internet across the globe

– Increasing number of cyberattacks

– Growing adoption of advanced security solutions to boost sales

The Home Wi-Fi security solutions in the USA is expected to exhibit remarkable growth of around 13.1% CAGR during the forecast period. The reasons for the growth are rising cyberattacks and the growing adoption of advanced technologies.

Furthermore, the home wi-fi security solutions market in Germany is expected to flourish at a CAGR of 19.2% during the forecast of 2022 to 2032. The reason for this rising rate of crime and growing awareness related to safety and security. Other than this, the propelling internet users demand for wi-fi security solutions in China. Wi Fi security solutions are expected to rise in China with a rate of 18.1% from 2022 to 2032.

The leading companies in the market are Honeywell International, ASSA ABLOY, Vivint Inc., SimpliSafe, Axis Communications AB, NETGEAR Inc, and Bosch Service Solutions GmbH.

Wrapping up,

It is quite evident that the market is expected to grow in the coming future. Although, the market players are required to understand the intricacies of the market to make a sound decision. Market players are required to know important statistics and reliable data in order stay ahead in the completion. Also, the market constraints are important to know so that proper measures can be taken to curb the side effects.