Network Security Market Size Expected To Reach USD

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TOKYO, Oct. 11, 2022 (GLOBE NEWSWIRE) — The Global network security market The size accounted for USD 31,652 million in 2021 and is expected to reach a market size of USD 84,457 million by 2030, growing at a CAGR of 11.7% from 2022 to 2030.

Network Security Market Statistics

  • Global network security market revenue was USD 31,652 million in 2021 growing at a CAGR of 11.7% from 2022 to 2030
  • The North America region leads the market with more than 36% market share in 2021
  • Asia Pacific market is expected to reach a CAGR of 13% from 2022 to 2030
  • By company size, the SME segment is expected to register the highest growth rate over the forecast years
  • Rising Incidence of Cyberterrorism Boosts Network Security Market Share

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Payment Gateway Market Report Coverage:

Market network security market
network security market Size 2021 $31,652 million
network security market Forecast 2030 $84,457 million
network security market CAGR from 2022 to 2030 11.7%
network security market Analysis period 2018 – 2030
network security market Year of reference 2021
network security market Forecast data 2022 – 2030
Segments Covered By deployment, by revenue, by company size, by industry and by geography
network security market Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies NortonLifeLock Inc., (Symantec Corporation), Aerohive Networks, Sophos Limited, Brocade, Motorola Solutions, Inc., Cisco Systems Inc., Fortinet, Aruba Networks, Ruckus Networks, Honeywell International Inc., McAfee Corp. and ADT Inc.
Report cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Network Security Market Overview

Network security is a broad term that encompasses a wide range of equipment, procedures, and operations. Network security is a set of principles and configurations designed to ensure the reliability, accessibility, and authenticity of computer data and networks. Since the introduction of the Internet, the importance of network security has intensified. There is a large amount of corporate, commercial, and government data on network infrastructure around the world. However, the growth of the network security market is driven by the need for stronger data security and the rise in cyber terrorism cases.

Network Security Market Growth Factors

  • Growing concerns over data security and privacy
  • Growing adoption of cloud-based security technologies
  • Growing proliferation of smart devices

Network Security Market Dynamics

The ever-increasing number of mobile phones, along with the increasing adoption of interconnected security products, are two of the major reasons that are expected to drive the value of the global network security market in the coming decades. Moreover, the growth in regulatory compliance obligations is expected to fuel the expansion of the market in the coming years. The growing popularity of software as a service-based network security solution is considered to be an important driver of the network security market size.

On the other hand, the global network security market trend is likely to be constrained by the lack of effective security protocols and the complexity of network architecture. Other challenges that are expected to limit the market growth over the next few years include threats posed by open source network security software as well as technical weaknesses. Nevertheless, a sharp increase in DDoS attacks, as well as an increase in acquisitions and mergers are expected to contribute to the growth of the sector.

However, the growing susceptibility of gadgets to cyberattacks as well as terrorism is a major impediment for the expansion of the market. The increased incidence of these attacks has taken the network infrastructure of large and small businesses by surprise. They made the network more vulnerable to viruses, fraud and data loss. Also, the increased usage of BYOD is expected to hamper the market growth in the coming years.

Network Security Market COVID-19 Analysis

The current COVID-19 outbreak is another major driver of growth in the network security industry. With the increasing use of smartphones, remote work, and home networks, there is an increased awareness of the cybersecurity of these networks. As a result, there is an increased need for improved network security solutions. Additionally, network infrastructure cybersecurity has become a crucial facet of business operations as businesses migrate to digital platforms. This has propelled the expansion of the market over the past few years and is expected to continue to do so throughout the forecast period.

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Network Security Market Segmentation

The global network security market has been segmented by Acumen Research and Consulting on the basis of deployment, type, company size, and industry. By deployment, the segment is separated into on-premises and cloud. According to the network security market forecast, the cloud segment is expected to grow significantly over the next few years. By type, the market is categorized into firewall, antivirus & anti-malware software, VPN, wireless security, and others. By enterprise size, the market is categorized into large enterprises and small and medium-sized enterprises (SMEs). By sector, the market is divided into IT & Telecom, BFSI, Retail, Energy & Utilities, Manufacturing, Government, Travel & Transportation, Healthcare, and Others.

Network Security Market Regional Overview

The global network security market is divided into several geographical regions: Asia-Pacific, Europe, North America, Latin America, Middle East and Africa. According to an analysis of the network security industry, North America will dominate the global market in 2021. This is due to the widespread adoption of network security technologies. Additionally, the region’s market growth is driven by the early acceptance of these technologies, along with the availability of various Distributed Denial of Service (DDoS) mitigation and protection solutions.

Additionally, leading businesses in the region are rapidly using network security solutions to detect and mitigate cyber risks and potential virus attacks. Asia-Pacific is expected to witness the highest growth rate in the network security market over the next few years. This market is expected to grow at the fastest rate in the coming years owing to the increasing acceptance of managed security services with cloud-based security systems.

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Network Security Market Players

Some of the major companies in the network security market are NortonLifeLock Inc., (Symantec Corporation), Sophos Limited, Motorola Solutions, Inc., Fortinet, Ruckus Networks, McAfee Corp., Cisco Systems Inc., Honeywell International Inc., Aerohive Networks , Brocade, Aruba Networks and ADT Inc.

Network Security Market Strategies

Some of the Key Market Strategies:

  • In October 2019, Cisco Systems, Inc. announced the acquisition of Duo Security Inc., a Michigan-based internet-based networking strategy. The agreement will allow both companies to expand their software-based and subscription-based security portfolios. This will strengthen the company’s position in the global market.

Questions this report answers

  • What was the market size of Network Security Market in 2021?
  • What will be the CAGR of the Network Security Market during the forecast period, 2022 to 2030?
  • Who are the major players in the global network security market?
  • Which region held the largest Network Security market share in 2021?
  • What are the key market drivers of Network Security Market?
  • Who is the largest end-user network security market?
  • What will be the value of the network security market in 2030?

Browse more research topics on Network linked:

The Global Network Automation Market taken into account $3,957 million in 2021 and is expected to reach $28,408 million by 2030, with a significant 24.6% CAGR from 2022 to 2030.

The Global Private 5G Network market taken into account $1,372 millioniliumnot in 2021 and is expected to reach USD 31,589 millioniliumnot by 2030, with a significant CAGR of 42.4% from 2022 to 2030.

Global Managed Network Services Market is expected to reach the market value of approximately $75 billion by 2027 and is expected to grow to a CAGR of around 6.2% in terms of revenue during the forecast period 2020 to 2027

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of information and consulting services in the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps investment communities, IT professionals, and business executives make fact-based decisions about technology purchases and develop business growth strategies to compete in the marketplace . With a team of over 100 analysts and a collective industry experience of over 200 years, Acumen Research and Consulting ensures to provide a combination of industry knowledge with global and national level expertise.

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