According to a newly released Future Market Insights study, the global market for legal interception is expected to reach a market size of US$ 12.9 billion and grow at a CAGR of 14.8% between 2022 and 2032. Throughout the projection period, rising cybercrime incidents and businesses’ quick digital transformation are expected to be key factors in the market’s development.
The FBI reports that, in 2021, American individuals lost over US$ 6.9 billion due to online crimes—a $2 billion increase over 2020. Furthermore, 5G network implementation is picking up steam, which is probably going to broaden the global scope of cyberattacks.
Also, the implementation of favorable laws for lawful interception by several governments is expected to augment the market size. Communications Assistance for Law Enforcement Act (CALEA) is one of the laws that features LI standards in the United States.
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Further, The European Telecommunication Standards Institute (ETSI) and the Third Generation Partnership Project (3GPP) have led the way in standardization. Moreover, with increasing international cooperation between various nations, the market is likely to strengthen. European countries such as New Zealand, Canada, Australia, Canada, and the U.S have played a significant role in strengthening the LI standards.
The surging demand for data-based communication and mobile phone tracking systems to aid security agencies in safeguarding and maintaining consumer interest is another vital cause that is expected to provide avenues of expansion to the market in the forecast period. FamiSafe, Glympse, uMobix, mSpy, and Cocospy are some of the known mobile tracker apps. On the contrary, the intercepted content breaches individuals’ right to privacy and raises ethical concerns, which is likely to inhibit the market growth in the forecast period.
Key Takeaways from the Market Study
- Global lawful interception market to surge 4x from 2022-2032
- By component, lawful enforcement solutions to expand at a CAGR of 14.6% during the forecast period.
- Fixed network lawful interception is expected to dominate, rising at a CAGR of 14.1%
- US is projected to garner US$ 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.
Competitive Analysis
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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More Valuable Insights
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.
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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