Lawful Interception Market value of US$ 12.9 Billion during the 2022-2032￼￼
The global lawful interception market is anticipated to secure a market value worth US$ 12.9 Billion while recording a CAGR of 14.8% during the 2022-2032 forecast period, according to a recently published Future Market Insights report. Increasing cases of cybercrimes and the rapid digitalization of firms are anticipated to play a vital role in developing the market in the forecast period.
As per the FBI, U.S citizens lost more than US$ 6.9 Billion to internet crimes in 2021, a jump of more than US$ 2 Billion from 2020. In addition, deployment of 5G networks is gaining significant traction, which is likely to increase cyber-attacks scope across the globe. 5G networks are likely to cover one-third of the globe’s population and also account for approximately 1.2 billion connections by 2025. This is expected to influence the market positively in the forecast period.
Also, the implementation of favorable laws for lawful interception by several governments is expected to augment the market size. Communications Assistance for Law Enforcement Act (CALEA) is one of the laws that features LI standards in the United States.
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Further, The European Telecommunication Standards Institute (ETSI) and the Third Generation Partnership Project (3GPP) have led the way in standardization. Moreover, with increasing international cooperation between various nations, the market is likely to strengthen. European countries such as New Zealand, Canada, Australia, Canada, and the U.S have played a significant role in strengthening the LI standards.
The surging demand for data-based communication and mobile phone tracking systems to aid security agencies in safeguarding and maintaining consumer interest is another vital cause that is expected to provide avenues of expansion to the market in the forecast period. FamiSafe, Glympse, uMobix, mSpy, and Cocospy are some of the known mobile tracker apps. On the contrary, the intercepted content breaches individuals’ right to privacy and raises ethical concerns, which is likely to inhibit the market growth in the forecast period.
Key Takeaways from the Market Study
- Global lawful interception market to surge 4x from 2022-2032
- By component, lawful enforcement solutions to expand at a CAGR of 14.6% during the forecast period.
- Fixed network lawful interception is expected to dominate, rising at a CAGR of 14.1%
- US is projected to garner US$ 4.4 Billion in market value by 2032, reflecting a 14.2% CAGR
- China to be an opportunistic investment hub across Asia, reaching US$ 904.7 Million by 2032
- Japan is anticipated to grow at a CAGR of 13.3% during the forecast period
“Increasing cyberattacks and rising initiatives, especially by developing countries, to strengthen cybersecurity, are likely to favor market growth in the future,” remarks an FMI analyst.
Key players in the global lawful interception market include VOCAL Technologies Ltd, Utimaco, Aqsacom Incorporated, BAE Systems plc, and Verint Systems. Notable developments in the market are as follows
- In June 2022, Utimaco announced that it had successfully closed the investment round with SGT Capital, its new owner. SGT Capital’s ownership of Utimaco has obtained all mandated regulatory approvals, such as Committee on Foreign Investment in the United States (CFIUS), Energy and Industrial Strategy, the United Kingdom’s Department for Business, and Germany’s Federal Ministry for Economic Affairs and Climate Protection.
- In May 2022, BAE Systems received a contract worth US$ 24 Million from the U.S Defense Advanced Research Projects Agency (DARPA) to develop software that independently configures tactical networks for mission-critical communications as part of the Mission-Integrated Network Control (MNIC) program. MNIC aims to demonstrate an integrated system that offers a secure path for communication to assist multi-domain operations.
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Future Market Insights, in its new offering, presents an unbiased analysis of the global lawful interception market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.