Network security

Network security industry expected to reach $ 63.40 billion by 2027

Network security industry

The growth of digitization and the rapid increase in the number of cyber attacks during the pandemic period has boosted the growth of the network security market

PORTLAND, OR, UNITED STATES, November 22, 2021 / – Digital techniques have gained a large place in all aspects of daily routine, starting with simple mobile devices used to communicate with complex electronic components supported in high security programs. For example, one of the modern technologies, identified by “composite composition”, is characterized by wide spread in commercial sectors, as the general time to get data from the affected servers is reduced. In addition, it has also been in a hurry to increase the demand for various parallel technologies such as the Internet of Things (IOT) and cloud computing. The global compute market is expected to reach $ 16.5 billion by 2022. Therefore, this scenario is largely fueled by the presence of mobile devices and technologies via the Internet, increasing the risk of electronic attacks and infections, thus determining the solid basis for the Network security industry.

By increasing this cybersecurity, the security of security information is a significant risk which, in turn, pays for the growth of network security solutions. Policy, such as the General Information Protection Agency (GDPR) provided by the European Union, which applies seven principles of integration, transparency, law, interaction, accuracy, storage, reduction of data, security, confidentiality, responsibility and liability. The GDPR is intended to process appropriate personal data. Processing or initiating, storing, storing, modifying, reporting, using, communicating, integrating, limiting or eliminating or destroying or destroying or destroying compliance policies such as GDPR and other comparable regulations, corporate security solutions in your network infrastructure. Therefore, the approval of effective security measures backed by government policy has led to a profitable opportunity for network security solutions.

According to a recent report published by Allied Market Research, titled Network Security Industry by Component, Solution, Service, Deployment, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027, “the global industry size of Network security was valued at $ 18.48 billion in 2019 and is expected to reach $ 63.40 billion by 2027, registering a CAGR of 16.7% from 2020 to 2027.

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In 2019, the global retina security market share is expected to be dominated by the solution, which is expected to maintain its dominance in the coming years, as a variety of solutions are mainly found in different parts of the network security system. The material focuses on management. , network packaging analysis and integrated security, creating a highly profitable market growth scenario. The increase in the number of trade attacks has resulted in massive losses, both in terms of social and economic scenarios.

This has forced organizations to increase their spending under secure conditions, which has created a lucrative growth base for the entire market. In addition, there has been a heavy reliance on cloud and online systems, due to the work-from-home policy, which has increased the risk of cyber threats. However, the services segment is expected to experience the highest growth as these services reduce the time and costs associated with optimizing systems in the initial phase of deployment. As services help deploy and integrate distinct IT solutions into an enterprise ecosystem, they are an important part of an organization. There has been an increase in the adoption of the services among end users over time as this ensures efficient operation of software and platforms throughout the process. The increased adoption of these software and platforms is expected to drive demand for these services.

The current 2027 estimate is expected to be higher than pre-COVID-19 estimates. The COVID pandemic has had a colossal positive impact on the global network security industry, with many countries going through lockdown and the majority of the population working from home, there has been a significant increase in usage. online, which has broadened the reach of the network security industry. In March 2019, their peak traffic was 82 Tbit / s; in March it was 167 Tbps and the daily sustained traffic rate is higher than the peak in March of last year. Internet exchanges in Amsterdam, Frankfurt and London saw their traffic increase by 10 to 20% around March 9. This scenario has increased the demand for network security solutions, thereby creating a solid foundation for the overall market growth.

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Main conclusions of the study
• By component, in 2019 the solutions segment dominated the size of the network security industry. However, the service segment is expected to show significant growth during the forecast period.
• Depending on the type of solution, the firewall segment generated the highest revenue in 2019. However, the IDS / IPS segment is expected to experience the highest growth rate in the future.
• Based on the type of deployment, the cloud segment accounted for the highest revenue in 2019 and is expected to experience the highest growth rate during the forecast period.
• Based on verticals, IT and Telecom sector accounted for the highest revenue in 2019, however, Healthcare and Pharmaceutical segment is expected to experience the highest growth rate during the period. forecast.
• Regionally, the network security industry was dominated by North America. However, Asia-Pacific is expected to experience significant growth in the coming years.

Some of the key companies mentioned in the report are Cisco Systems, SolarWinds IBM, Trend Micro, FireMon, Symantec, FireEye, GFI Software, Avast Software, and Juniper Networks.

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David Corréa
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