Network Security Market to Reach Valuation of USD 39.3 Billion By 2028 - Increasing Concerns about Cyber Security to Drive the Market

In terms of revenue, the Global Network Security Market is expected to reach USD 39.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.20% from 2022 to 2028.

The word "Network Security" is broad and encompasses a variety of technologies, tools, and procedures. Using software and hardware technologies can be defined as a collection of guidelines and configurations intended to safeguard computer networks and data's reliability, accessibility, and integrity. An increase in the investment in cutting-edge technologies is the main driver driving the growth of networks as a service. Enterprise IT innovation is growing, which changes how businesses handle every facet of their operations. One of the biggest changes since the internet's inception is the advent of cloud computing.

Key Highlights from Report:

· The Cloudsegment, of the Deployment Mode, dominated the growth of the Network Security Market in 2021. Enterprises are being compelled to adopt cloud-based solutions by the expanding use of artificial intelligence, machine learning, the Internet of Things (IoT), and other technologies. Cloud-based software supports real-time setup, allowing businesses to expand quickly. These considerations lead to a faster rise in the acceptance of cloud-based security deployment.

· The Large Enterprise segment, of the Organization Size, dominated the growth of the Network Security Market in 2021. It is anticipated that large businesses will experience an increase in the number of cyberattacks. Because of this, large businesses set aside more money for security. On the other side, rising cyberattacks and security awareness spur small and medium-sized organizations, which expands the market. Additionally, this increases the acceptance of Network Security in big businesses and supports the expansion of the market.

· Asia Pacific is predicted to mention the fastest growth of the Network Security Market during the forecast period. China is expanding its market and investing in the study and creation of security software. The Chinese government encourages people to use technology in their daily life. This would increase demand for secure networks and spur market growth. Governments in many countries also pass security rules and regulations to prevent data breaches.

Market Dynamics:

Network Security is a type of security system that guards against dangers like fraud and hacking. The need for the program is anticipated to increase as cyber security concerns grow. Additionally, the growing use of digital platforms, connected devices, and the Internet of Things (IoT) may accelerate the development of the industry. Furthermore, the industry's development is anticipated to be aided by the rising demand for cybersecurity from businesses and startups. Additionally, the growing popularity of the "bring your own device" (BYOD) trend could boost demand for security software. These elements could fuel the expansion of the Network Security industry.

North America is accounted to have potential growth in the Network Security Market during the forecast period because enterprises use network solutions extensively. Businesses have also been forced to employ advanced Network Security solutions due to increased data breaches and the emergence of cyberattacks specifically designed to steal money. Additionally, North America is home to the top solution providers in the Network Security industry, which is expected to accelerate the market expansion there. Due to the US and Canada's early adoption of the network as a service solution, North America has accounted for most of the market share. Organizations worldwide are enhancing their infrastructure to boost their overall operational effectiveness.

The Global Network Security Market is Segmented as follows:

• Component
  • Solution
  • Services
• Solutions
  • Firewall
  • Antivirus/ Antimalware
  • Network Access Control (NAC)
  • Data Loss Prevention
  • Intrusion Detection System (IDS)/ Intrusion Prevention System (IPS)
  • Secure Web Gateways
  • Distributed Denial-of-Service (DDoS) Mitigation
  • Unified Threat Management
  • Other Solutions
• Services
  • Professional Services
  • Managed Services
• Deployment Mode
  • On-Premise
  • Cloud
• Organization Size
  • Large Enterprise
  • Small & Medium Enterprise
• Industry Vertical
  • Aerospace & Defense
  • Government
  • Banking Financial Services & Insurance (BFSI)
  • Information Technology (IT) & Telecommunication
  • Healthcare
  • Retail
  • Manufacturing
  • Energy & Utilities
  • Other Verticals
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

A list of the Key Players in the Global Network Security Market is:

Cisco Systems, Solarwinds, IBM, Trend Micro, FireMon, Symantec, FireEye, GFI Software, Avast Software, Juniper Networks

The Global Network Security Market Scope can be Tabulated as below: