Global Network Security Market

Network Security Market Size, Share, Growth Analysis, By Component(Solutions, Large Enterprise), By Enterprise Size(Small & Medium Enterprises (SMEs), and Large Enterprises), By Deployment(On-Premises, and Cloud), By End User(Aerospace And Defense, IT & telecom, Government, Banking), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45D2074 | Region: Global | Published Date: June, 2024
Pages: 165 | Tables: 136 | Figures: 77

Network Security Market Dynamics

Driver

High Adoption of Cloud Computing 

  • Cloud technologies and platforms have gained massive popularity and witnessed a hike in adoption on a global level. These technologies are highly dependent on various types of networks to function properly, which is why maintaining the security of these networks becomes a top priority for all companies thereby promoting network security demand.  

Sophistication of Cyber Threat Landscape 

  • Cyber threats have been evolving rapidly and becoming more sophisticated than ever before. This is why organizations need to keep updating their network security systems and solutions to keep up with the evolution of threats. This also pushes network security providers to innovate and drive market growth as well.  

Restraints 

Complexity in Integration and Management 

  • Integrating network security solutions with other security measures can be a complex task as they might not be interoperable or compatible. Moreover, the complexity of vast networks makes it difficult for network security solutions to manage security in every aspect of network, thereby demanding more advanced technologies to be integrated.  

Dearth of Skilled Professionals 

  • Skilled cybersecurity professionals are becoming scarce by the day, which makes it difficult to develop, deploy, and maintain advanced network security solutions. This is a key factor that restrains network security market growth.
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FAQs

Network Security Market size was valued at USD 21.10 Billion in 2022 and is poised to grow from USD 23.24 Billion in 2023 to USD 47.93 Billion by 2031, at a CAGR of 10.10% during the forecast period (2024-2031).

The global network security market presents plenty of opportunities for new as well as established network security companies. Integration of artificial intelligence will be a key trend that almost all network security providers will target across the forecast period and beyond. Increasing affordability and ease of deployment will be prime areas of focus for network security market players going forward. Strategies such as collaborations and mergers will also help companies maximize their market presence on a global level. 'Juniper Networks Inc.   ', 'Kaspersky Lab. ', 'Palo Alto Networks Inc.   ', 'Symantec Corporation ', 'McAfee LLC   ', 'Imperva Inc.   ', 'Sophos Ltd. ', 'Webroot ', 'Akamai Technologies Inc.   ', 'Cisco Systems Inc.   ', 'WatchGuard Technologies Inc.   ', 'FireEye Inc.   ', 'Fortinet Inc.   ', 'Forcepoint LLC   ', 'IBM Corporation   ', 'Proofpoint Inc.  ', 'SonicWall.com   ', 'Trend Micro Inc. ', 'Qualys Inc.'

Cloud technologies and platforms have gained massive popularity and witnessed a hike in adoption on a global level. These technologies are highly dependent on various types of networks to function properly, which is why maintaining the security of these networks becomes a top priority for all companies thereby promoting network security demand.  

Zero Trust Approach: The possibility that a threat can originate within a network or from the outside is addressed using a zero-trust approach in security. Network security companies are opting this approach for their solutions and services as they emphasize maximizing their business scope on a global level.  

North America emerges as the top market for network security companies owing to its developed technological infrastructure and high emphasis on security. Growing investments of key tech giants in improving network security and deployment of advanced security measures by all industry verticals also help the dominance of this region. Increasing cybersecurity budgets of companies in this region coupled with the imposition of strict data security and privacy mandates are also helping the dominance of this region. The United States and Canada are forecasted to be the prime markets for network security providers in this region.

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Global Network Security Market

Report ID: SQMIG45D2074

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