Network security

Network Security Market Size Expected to Reach USD 400.02 Billion at a CAGR of 10.2%, by 2028

Reports and data

Network Security Market Size – $ 184.59 Billion in 2020, Market Growth – 10.2% CAGR, Strong Demand for Cloud Based Network Security Solutions by SMBs

NEW YORK, NY, UNITED STATES, December 29, 2021 /EINPresswire.com/ – The growth of the market is mainly due to the demand for strict data protection and the increasing incidences of cyber terrorism.

the Network security market the size is expected to register at a CAGR of 10.2% from USD 184.59 billion in 2020 to reach a valuation of USD 400.02 billion by 2028. Market growth is mainly due to the requirement strict data protection and the growing incidence of cyber terrorism. . Due to the increasing incidences of hacking and data breach, the network security market has gained ground over the past decade. Due to increasing virtualization and digital transformation, the need for network security solutions for cloud technology and BYOD is growing exponentially.

Network security is a term that covers a wide range of services, such as a multitude of processes, devices, and technologies. It is essentially a set of configurations and controls designed to protect and maintain the integrity, confidentiality and accessibility of networks and data through the incorporation of strict software and hardware services. With increasing risks in the network infrastructure, companies large and small have started to invest in the deployment of network security solutions to manage the risks. The advantage of network security solutions is that they reduce capital expenditure and improve workforce productivity.

However, the key factor holding back the growth of the market is the increased susceptibility of devices to cyber attacks and terrorism. The growing incidence of these attacks has rocked the network infrastructure of many organizations large and small. They have increased the network’s vulnerability to viruses, theft and loss of critical data.

Some of the major market players are Aruba Networks, Symantec Corp., McAfee, Juniper Solutions, Ruckus, Honeywell, Fortinet, Motorola Solutions, Cisco Systems Inc., Sophos Ltd., Brocade Communications Systems Inc., Aerohive, ADT Security Services, among others.

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Other key findings from the report suggest:

• The network security market size is expected to register at a CAGR of 10.2%, growing from USD 184.59 billion in 2020 to reach a valuation of USD 400.02 billion by 2028.
• The growth of the market is mainly due to the demand for strict data protection and the increasing incidences of cyber terrorism.
• Network security is a term that covers a wide range of services, such as a multitude of processes, devices and technologies. It is essentially a set of configurations and controls designed to protect and maintain the integrity, confidentiality and accessibility of networks and data through the incorporation of strict software and hardware services.
• Due to the increasing incidences of hacking and data breach, the network security market has gained ground over the past decade.
• Due to increasing virtualization and digital transformation, the need for network security solutions for cloud technology and BYOD is growing exponentially. This has compelled the providers of network security solutions to provide improved and innovative solutions such as firewalls and the like.
• The key factor holding back market growth is the increased susceptibility of devices to cyber attacks and terrorism. The growing incidence of these attacks has rocked the network infrastructure of many organizations large and small, increasing the network’s vulnerability to viruses, malware attacks and data breach.
• Depending on the type of product, Intrusion Prevention System (IPS) is expected to grow at a significant rate during the forecast period to gain the largest share of the market. This can be attributed to the growing need to deploy the advanced network solutions market due to the increasing penetration of smartphones and connection devices.
• The Intrusion Prevention Systems segment is expected to grow at a CAGR of 27% during the forecast period, generating sales of $ 67 billion by the end of 2027.
• Based on segmentation into industry verticals, the public sector is expected to hold the highest share of the network security market over the next few years. This can be attributed to the increased use of mobility and the increased use of mobile devices to improve productivity and improve the workflow of public sector departments.
• Based on regional segmentation, the North America region is expected to experience the highest growth during the forecast period, due to the increasing incorporation of large-scale network security solutions.
• North America is expected to register a significant growth rate of 21% over the forecast period and generate revenues of $ 32 billion by 2027. This can be attributed to the early adoption of these solutions and the presence of multiple distributed denial of service (DDoS). ) protection and mitigation in the region.
• Another important factor in the growth of the network security market is the ongoing COVID-19 pandemic. With the increasing use of mobile devices, the shift to remote work and the increased use of home networks, this has created increased security risks for those networks. This has reinforced the need for improved network security solutions.

To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/network-security-market

For the purpose of this study, Reports and Data has segmented the Network Security market on the basis of product, service, industry vertical, type of deployment, and region.

By Product (Revenue, USD Million; 2018-2028)

• Intrusion prevention system (IPS)
• Application control
• URL filtering
• Anti-bot
• Web security
• Anti-spam and email security
• Acceleration and clustering

By Service (Revenue, USD Million; 2018-2028)

• Managed security services
• Security operations services
• Consulting services

By Industry (Revenue, USD Million; 2018-2028)

• Manufacturing
• Retail
• Aeronautics and Defense
• Health care
• Telecommunications and IT
• Government and public services
• Financial banking and insurance services (BFSI)

By Type of Deployment (Revenue, USD Million; 2018-2028)

• On the site
• Hosted
• Hybrid

By Region (Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Main Benefits of Network Security Report:

• Identification and analysis of market size and competition
• Qualitative and quantitative analysis of market data
• Data validated by industry experts after extensive primary and secondary research
• In-depth regional analysis of the network security industry
• Profiling of key players as well as their business insight, business strategies, agreements and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, constraints, challenges, risks and limitations

To conclude, all aspects of the Network Security Market are quantitatively and qualitatively assessed to study the Global and Regional Market in a comparative manner. This market research presents critical information and factual data about the market, providing an overall statistical study of this market on the basis of market drivers, its limitations and future prospects.

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