Stingray Device MarketSize and Trends
The stingray device market size is estimated to be valued at US$ 157 Mn in 2023 and is expected to reach US$ 417.8 Mn by 2030, exhibit a compound annual growth rate (CAGR) of 15% from 2023 to 2030.
Stingray Device Market Trends:
- Increasing focus on privacy and legal considerations: With growing concerns about privacy and civil liberties, there is a trend towards increased scrutiny and regulation of stingray device usage. Courts and regulatory bodies are addressing the legal implications and privacy concerns that are associated with the use of these devices, thereby leading to stricter guidelines and transparency requirements for their deployment.
- For instance, in 2020, the California Consumer Privacy Act (CCPA) came into force, giving consumers more control over their personal data.
- Shift towards 5G networks: The rollout of 5G networks presents both opportunities and challenges for stingray devices. While 5G networks offer faster speeds and enhanced security features, they also introduce complexities in terms of device compatibility and interception capabilities. The market is adapting to address the unique requirements and technical challenges that are associated with intercepting and analyzing data on 5G networks.
- For instance, according to the Mobile Economy 2022 report, 1.85 billion 5G connections are projected globally by 2025 which will increase the need for advanced stingray tools among monitoring agencies.
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