The latest research study “Network Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global network security market size reached US$ 25.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 66.2 Billion by 2027, exhibiting a growth rate (CAGR) of 16.10% during 2022-2027.
Network security refers to protecting the integrity and usability of the network and data from unauthorized harm and access. It involves various solutions and services, such as data loss prevention, firewall, virus and antivirus software, managed services, unified threat management (UTM), network access control (NAC), and secure web gateways. Network security utilizes software and hardware technologies to protect the confidentiality, integrity, and accessibility of computer grids and information. The solution is extensively used to protect client data, ensure reliable access and network performance, secure shared data, and protect the information against cyber threats. As a result, network security finds widespread applications across several sectors, including BFSI, IT and telecommunication, healthcare, aerospace and defense, retail, manufacturing, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Network Security Market Trends and Drivers:
The escalating incidences of cybercrimes and huge data losses across the globe are among the primary factors driving the network security market. Besides this, the elevating demand for smartphones and the increasing internet penetration in remote locations are further augmenting the market growth. Moreover, the incorporation of machine learning (ML) and artificial intelligence (AI) to reduce the risk of breaches and improve their overall security by enhancing troubleshooting and identifying inefficiencies are also catalyzing the global market. Apart from this, the emerging trend of the bring your own device (BYOD) policy by businesses and the rising acceptance of work-from-home culture, owing to the sudden outbreak of the COVID-19 pandemic, are acting as significant growth-inducing factors. Additionally, the growing popularity of this solution in a cloud environment for protecting the data, applications, and IT resources deployed within an enterprise is also stimulating the market growth. Furthermore, the launch of several policies by the government bodies to promote the safety and privacy of user data is anticipated to propel the network security market over the forecasted period.
Network Security Market 2022-2027 Analysis and Segmentation: Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AT&T Inc., Avast Software s.r.o., Broadcom Inc., Cisco Systems Inc., Fortinet Inc., International Business Machines Corporation, Juniper Networks Inc., NortonLifeLock Inc., Palo Alto Networks Inc., SonicWall, Trellix (Symphony Technology Group) and Trend Micro Incorporated. The report has segmented the market on the basis of component, deployment mode, organization size and industry vertical.
Breakup by Component:
- Network Access Control (NAC)
- Data Loss Prevention
- Secure Web Gateways
- DDoS Mitigation
- Unified Threat Management
- Professional Services
- Managed Services
Breakup by Deployment Mode:
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- IT and Telecommunication
- Aerospace and Defense
- Energy and Utilities
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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