Lawful Interception Market
Next-generation networks, lawful interception tools across various verticals for safety, rising internet users, digitization boosting the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, May 12, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Lawful Interception Market Expected to Reach USD 29.9 Billion by 2031 | Top Players Such as- Fire Eye, Incognito & NICE.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global lawful interception market was valued at USD 3.4 billion in 2021, and is projected to reach USD 29.9 billion by 2031, growing at a CAGR of 24.7% from 2022 to 2031.
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Increase in demand for monitoring, tracking data of players, surge in demand for chatbots& virtual assistants to interact with followers boost the growth of the global lawful interception market. In addition, increase in demand for real-time data analytics positively impacts the lawful interception market growth. However, lack of trained & skilled professionals and high implementation & maintenance cost hamper the lawful interception market growth. On the contrary, increase in demand for AI for making future predictions is expected to offer remunerative opportunities for expansion of the lawful interception market during the forecast period.
The research provides detailed segmentation of the global lawful interception market based on solution, network technology, communication technology, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on end user, the government segment accounted for the highest share in 2021, holding nearly three-fourths of the global lawful interception market, and is expected to continue its leadership status during the forecast period. However, the enterprises segment is estimated to grow at the highest CAGR of 26.2% during the forecast period.
Based on solution, the devices segment held the highest share in 2021, accounting for nearly half of the global lawful interception market, and is expected to continue its leadership status during the forecast period. However, the software segment is expected to register the highest CAGR of 26.1% from 2022 to 2031.
Based on communication technology, the file transfer segment accounted for the highest share in 2021, contributing to nearly one-fifth of the global lawful interception market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the text messaging segment is expected to manifest the highest CAGR of 32.5% from 2022 to 2031.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global lawful interception market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 28.5% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global lawful interception market analyzed in the research include SIEMENS AG, AQSACOM, FireEye, Inc., INCOGNITO SOFTWARE, CISCO SYSTEMS, INC., JSI Telecom, Utimaco GmbH, BAE SYSTEMS, NICE Ltd., SS8 NETWORKS, INC.
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Covid-19 Scenario:
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global lawful interception market, owing to rise in criminal elements such as terrorism, drug & human trafficking, and cybercrimes.
● The market has a huge scope to gather growth in the post-pandemic.
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