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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Network security refers to protecting the usability and integrity of the network and data from unauthorized access and harm. It involves various solutions and services, including unified threat management (UTM), data loss prevention, firewall, virus and antivirus software, managed services, network access control (NAC), and secure web gateways. Network security utilizes both software and hardware technologies to protect the integrity, confidentiality, and accessibility of computer networks and data. The solution is widely adopted across several industrial verticals to protect client data and information, secure shared data, ensure reliable access and network performance and protect the data against cyber threats.
Network Security Market Trends:
Growing incidences of cybercrimes, coupled with huge data losses across the globe, are creating a positive outlook for the market. Network security secures the confidentiality and accessibility of the data and network while protecting the information from breaches, intrusions, and other threats. Additionally, the rising demand for smartphones and increasing internet penetration in remote locations are acting as another growth-inducing factor. Apart from this, the integration of artificial intelligence (AI) and machine learning (ML) to reduce the risk of breaches and improve their overall security by enhancing troubleshooting and identifying inefficiencies are providing an impetus to the market growth. In line with this, the emerging trend of the Bring Your Own Device (BYOD) policy by businesses and the increasing acceptance of work-from-home culture due to the COVID-19 pandemic is propelling the market growth. Furthermore, the rising demand for network security in a cloud environment for protecting the data, applications, and IT resources deployed within an enterprise is positively influencing the market growth. Other factors, including extensive research and development (R&D) activities and the implementation of various government initiatives promoting the safety and privacy of user data, are supporting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global network security market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, organization size and industry vertical.
Breakup by Component:
Network Access Control (NAC)
Data Loss Prevention
Secure Web Gateways
Unified Threat Management
Breakup by Deployment Mode:
Breakup by Organization Size:
Small and Medium-sized Enterprises
Breakup by Industry Vertical:
IT and Telecommunication
Aerospace and Defense
Energy and Utilities
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key questions answered in this report:
How has the global network security market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global network security market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global network security market and who are the key players?
What is the degree of competition in the industry?