Outlook on the Network Security Global Market to 2027 - Emerging Trend of Bring Your Own Device is Driving Growth
Tuesday, November 15, 2022
DUBLIN, Nov. 7, 2022 /PRNewswire/ -- The "Global Network Security Market By Enterprise Size, By Deployment, By Type, By Industry, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
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The global network security market was valued at $29.06 billion in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 12.23% due to a shift toward cloud-based services and data concerns, leading to a rise in the global network security market.
Network security is a set of technologies that protect the usability and integrity of a company's infrastructure by preventing intrusion or proliferation of potential threats and viruses within a network.
Emerging Trend of Bring Your Own Device (BYOD) Driving Market Growth
Organizations and corporations can boost productivity, creativity, cost savings, mobility, and employee satisfaction by embracing Bring Your Own Device (BYOD). Therefore, employees are encouraged to use their personal devices, such as cell phones and tablets, within the workplace, as part of IT policy.
This phenomenon allows employees to gain access to confidential company information and applications, necessitating accurate and real-time data synchronization, driving the necessity and demand for mobile middleware deployment in mobile applications.
However, there has been a rise in the possibility of cyber criminals stealing mobile devices to access the intellectual property. Various security solutions, including firewalls and VPNs, are deployed to reduce network security threats, and staff is required to complete mandatory security training.
The primary purpose of employee education is to convey to them that security concerns are destructive to the firm and that by adhering to the policy, they may improve their own safety while also assisting in the prevention of prospective data breaches that could endanger the organization. Furthermore, BYOD is driving up network security needs, which is expected to increase in the future.
Blending of Internet of Things (IoT) with Network Security
Any connected IoT device that lacks stringent security can be compromised and can be operated by an unauthorized person to collect user data. IoT security is defined as a defensive strategy and a defense mechanism that directly protects IoT devices linked to the network from network threats and is purposefully created as a predefined set of operations. Therefore, the security and operational teams must integrate IoT security into a frequent practice and process to ensure that these unmanaged devices have the same level of visibility and control as those managed.
Concerns for Data Integrity
Data integrity refers to the accuracy and consistency of data over its lifespan. Since compromised or altered data is of no use to the company and loss of sensitive data can pose a threat to the organization, network security becomes a necessity while working in a digitally connected environment. Implementation of network security can prevent unauthorized access and malicious code that may breach information.
Growing Investments in Cyber Security aids in Market Growth
Business leaders are making online security a strategic goal in response to changing vulnerabilities and threats and the growing need to build trust to gain competitiveness. There is now a greater understanding that online security should not be the latest thought driven by compliance but should be an integral part of corporate organization and processes if a business is to survive and remain competitive. Therefore, a massive investment in cybersecurity has been recorded in the past decade, and this investment is likely to increase in the coming future.
Market Segmentation
The Global Network Security Market is segmented based on Enterprise Size, Deployment, Type, Industry, Region and by Company. Based on Enterprise Size the market is segmented into Large Enterprise and SMEs. Based on deployment, the market is further fragmented into On-premise and Cloud. Based on Type, the market is segmented into Firewalls, Antivirus & Anti-malware, Intrusion prevention system, VPN, Wireless Security and Others.
Also, segmentation of the market on Industry using the service is done into BFSI, IT & Telecom, Retail, Healthcare, Government, Manufacturing and Others. The market analysis also studies the regional segmentation divided. The Asia Pacific Network Security Market stood at USD5.66 billion in the year 2021 and is projected to grow at a CAGR of 13.65% during the forecast period.
Asia Pacific region comprises some of the most infrastructurally sound and developing nations, such as China, Japan, India, South Korea, Australia and Singapore. The United States Network Security Market stood at USD6.80 billion in the year 2021 and is projected to grow at a CAGR of 11.75% during the forecast period.
Company Profiles
Palo Alto Networks Inc., Cisco Systems Inc., NortonLifeLock Inc., AT&T, Check Point Software Technologies Ltd., McAfee LLC, IBM Corporation, FireEye, Trend Micro Inc, CrowdStrike Holdings Inc are the major market players in the global network security market.
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness
4.2. Key Factors Influencing Network Security Investments
4.3. Type of Subscription Agreement Terms Opted for Network Security
4.4. Customer Satisfaction
5. Global Network Security Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Enterprise size (Large Enterprise, SMEs)
5.2.2. By Deployment (On-premises, Cloud)
5.2.3. By Type (Firewalls, Antivirus & Anti-malware, Intrusion prevention system, VPN, Wireless Security, Others)
5.2.4. By Industry (BFSI, IT & Telecom, Retail, Healthcare, Government, Manufacturing, Others)
5.2.5. By Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)
5.3. Market Map (Enterprise Size, Deployment, Type, Industry, Region)
6. North America Network Security Market Outlook
7. Europe Global Network Security Market Outlook
8. Asia Pacific Network Security Market Outlook
9. Middle East and Africa Network Security Market Outlook
10. South America Network Security Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends and Developments
13. Policy & Regulatory Landscape
14. Impact of COVID-19 on Global Network Security Market
15. Company Profiles
15.1. Palo Alto Networks Inc
15.2. Cisco Systems Inc.
15.3. NortonLifeLock Inc.
15.4. AT&T
15.5. Check Point Software Technologies Ltd.
15.6. McAfee LLC
15.7. IBM Corporation
15.8. FireEye
15.9. Trend Micro Inc
15.10. CrowdStrike Holdings Inc
16. Strategic Recommendations
17. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/4yyxj5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
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