Network Security Market Developments by 2031
The Network Security Market is expected to register a CAGR of 12.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Research on the Network Security Market furnishes insight into the current market structure and future growth potential, along with an extensive overview of key drivers and their frailties within the industry. Based on the type of product, the market can be further segmented into solutions, applications, and end users.
The global analysis is segmented by geography into key markets: North America, Europe, APAC, Latin America, and Middle East & Africa. Such segmentation enables stakeholders to know local trends, consumer preferences, and growth opportunities. All market assessments have been provided in US dollars (US$) for the segmental analysis, considering a view on market size, growth trajectories, and forecasts.
The report Network Security Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Network Security Market Segmentation
Solutions- Data Encryption
- Unified Threat Management
- Authentication
- Web Security Standards
- Email Security
- IO Security
- Manufacturing
- Aerospace and Defence
- Telecommunication and Government utilities
- BFSI
- Others
Strategic Insights
Network Security Market Growth Drivers- Increasing cyber threat: Cybercrime is one of the key factors driving the network security market. According to a report by Cybersecurity Ventures, globally, cybercrime-related costs will increase dramatically from $3 trillion in 2015 to $10.5 trillion annually by 2025. Also, increasing cases of cyber-attacks are likely to push the adoption of robust cybersecurity solutions.
- Increased Cloud Service Adoption: The sudden move to leverage cloud services is driving up network security market growth. Gartner estimates that by 2025, 85% of all organizations will adopt a cloud-first principle. With this shift, new vulnerabilities open up, and high-tech measures of security are required to protect sensitive information stored in cloud environments.
- Regulatory Mandates: Due to the rapid development of data protection legislation, it has become more important than ever for a business to ensure it complies with all related legislation. One survey on the subject, reports that 70% of the responding organizations intend to increase their budgets relating to compliance-based security measures. Consequences for organizations failing to be compliant with these regulations will be quite serious: fines coming from GDPR may reach a maximum of €20 million or 4% of the total worldwide turnover of an enterprise. Thus, network security has become a priority concern for any organization.
- Zero Trust Architecture Growth: This fresh face of the Zero Trust security model presumes threat inside and outside of the network, and it is very much in talk. Due to frequent data breaches, remote working, and the drive to see more security, 80% of organizations will implement a Zero Trust approach by 2024, according to Forrester Research.
- Developing effective Cyber Security Solution: There is continued growth in the number and development of cyber-attacks. According to IBM Cyber Security Intelligence Index, ransomware attacks were reported to have increased in number by 400% during the COVID-19 pandemic. As threats become increasingly sophisticated, this will challenge organizations to invest in additional and more effective security solutions for their protection.
- Shift Towards Bioactive and Innovative Therapies: The adoption of bioactive wound care products such as growth factors, stem cell therapy, and tissue-engineered products is gaining traction due to their efficacy in faster wound healing.
- Investing into Cloud Security Solutions: The organisational consumption of cloud services is increasing; hence, there will be a need to find the security solutions relating to the cloud. The propensity will go towards the security of the cloud environment in protecting sensitive data. This is further buoyed by the fact that revenues for cloud security are likely to scale over 12 billion dollars by 2025.
- Adoption of Zero Trust Architecture: Zero Trust is based upon the principle of ''never trust, always verify." The Zero Trust model has been in adaptation over recent years. By the year 2024, 80% of organizations will be adopting Zero Trust strategies as one way of keeping themselves secure in the face of rising threats and difficulties around working remotely.
- More Regulatory Compliance: While more stringent regulations, such as those of GDPR and CCPA, are increasingly being enforced, most organizations have compliance-related security measures as their primary focus. More companies are increasing cybersecurity budgets in light of the new regulatory requirements, a further indication that keeping compliance to avoid serious fines has turned out to be elementary.
- Rising Cyber Threats: That is to say, since the frequency and sophistication of cyberattacks continue, so does the need by organizations for ever more sophisticated security solutions. Ransomware attacks make for a very good example in that the sudden increase in incidence elicited a proactive approach toward security.
- Artificial Intelligence and Machine Learning Integration
With evolution, Artificial Intelligence and Machine Learning have grown to be the mainstays in Cybersecurity. Both technologies are helping businesses enhance threat detection and response capabilities. The AI cybersecurity market will be more than several folds from the size today, thereby attesting to the fact that this forms a big core in security strategies in the modern world. - Endpoint Security: With workplaces now shifting to home, securing the endpoints has become prominent. In this sense, organizations are highly interested in investing in endpoint detection and response solutions that will help them secure those devices that connect to their networks.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Network Security Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Network Security Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 12.4% during 2023–2031
Some of the major factors driving the network security market include increasing cyber threats, increasing cloud adoption, stringent compliance requirements for various regulations, growth in remote working, and integration with advanced technologies to enhance threat detection and response capabilities, such as AI and machine learning.
Some of the future trends in the network security market include Zero Trust architecture, more cloud security solutions, further integration of AI and machine learning, enhanced endpoint security, and increasing demand for managed security services due to emerging cyber threats.
Key players in network security market are - Cisco Systems, Fortinet Inc, Honeywell International Inc, Hewlett Packard Enterprise Development LP, IBM, Siemens AG, Symantec Corporation, Maverick Cyber Defense LLC, Barracuda Networks Inc
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Network Security Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Network Security Market - By Solutions
3.2.2 Network Security Market - By Applications
3.2.3 Network Security Market - By End Users
3.2.4 Network Security Market - By Region
3.2.4.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Network Security Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Network Security Market Analysis- Global
5.1 Global Network Security Market Overview
5.2 Global Network Security Market Forecasts and Analysis
6 Network Security Market Revenue and Forecasts to 2028 - Solutions
6.1 Overview
6.2 Solutions Market Forecasts and Analysis
6.3 Data Encryption Market
6.3.1 Overview
6.3.2 Data Encryption Market Forecasts and Analysis
6.4 Unified Threat Management (UTM) Market
6.4.1 Overview
6.4.2 Unified Threat Management (UTM) Market Forecasts and Analysis
6.5 Identity & Access Management Market
6.5.1 Overview
6.5.2 Identity & Access Management Market Forecasts and Analysis
6.6 Orthomode Transducer (OMT) Market
6.6.1 Overview
6.6.2 Orthomode Transducer (OMT) Market Forecasts and Analysis
6.7 Malware Protection Market
6.7.1 Overview
6.7.2 Malware Protection Market Forecasts and Analysis
6.8 Firewall Security Market
6.8.1 Overview
6.8.2 Firewall Security Market Forecasts and Analysis
6.9 Advance Threat Detection & Vulnerability Management Market
6.9.1 Overview
6.9.2 Advance Threat Detection & Vulnerability Management Market Forecasts and Analysis
6.10 Web Application Management Market
6.10.1 Overview
6.10.2 Web Application Management Market Forecasts and Analysis
7 Network Security Market Revenue and Forecasts to 2028 - Applications
7.1 Overview
7.2 Applications Market Forecasts and Analysis
7.3 Authentication Market
7.3.1 Overview
7.3.2 Authentication Market Forecasts and Analysis
7.4 Web Security Standards Market
7.4.1 Overview
7.4.2 Web Security Standards Market Forecasts and Analysis
7.5 Email Security Market
7.5.1 Overview
7.5.2 Email Security Market Forecasts and Analysis
7.6 IP Security Market
7.6.1 Overview
7.6.2 IP Security Market Forecast and Analysis
8 Network Security Market Revenue and Forecasts to 2028 - End Users
8.1 Overview
8.2 End Users Market Forecasts and Analysis
8.3 Manufacturing Market
8.3.1 Overview
8.3.2 Manufacturing Market Forecasts and Analysis
8.4 Retail Market
8.4.1 Overview
8.4.2 Retail Market Forecasts and Analysis
8.5 Aerospace & Defense Market
8.5.1 Overview
8.5.2 Aerospace & Defense Market Forecasts and Analysis
8.6 Healthcare Market
8.6.1 Overview
8.6.2 Healthcare Market Forecasts and Analysis
8.7 Telecommunication & IT Market
8.7.1 Overview
8.7.2 Telecommunication & IT Market Forecasts and Analysis
8.8 Government & Utilities Market
8.8.1 Overview
8.8.2 Government & Utilities Market Forecasts and Analysis
8.9 BFSI Market
8.9.1 Overview
8.9.2 BFSI Market Forecasts and Analysis
8.10 Others Market
8.10.1 Overview
8.10.2 Others Market Forecasts and Analysis
9 Network Security Market Revenue and Forecasts to 2028 - Geographical Analysis
9.1 North America
9.1.1 North America Network Security Market Overview
9.1.2 North America Network Security Market Forecasts and Analysis
9.1.2.1 North America Market Forecasts and Analysis - By Countries
9.1.2.1.1 US market
9.1.2.1.2 Canada market
9.1.2.1.3 Mexico market
9.1.3 North America Market Forecasts and Analysis - By Solutions
9.1.4 North America Market Forecasts and Analysis - By End Users
9.1.5 North America Market Forecasts and Analysis - By Applications
9.2 Europe
9.2.1 Europe Network Security Overview
9.2.2 Europe Network Security Forecasts and Analysis
9.2.2.1 Europe Market Forecasts and Analysis - By Countries
9.2.2.1.1 France market
9.2.2.1.2 Germany market
9.2.2.1.3 Italy market
9.2.2.1.4 Spain market
9.2.2.1.5 UK market
9.2.2.1.6 Rest of Europe market
9.2.2.2 Europe Market Forecasts and Analysis - By Solutions
9.2.2.3 Europe Market Forecasts and Analysis - By End Users
9.2.2.4 Europe Market Forecasts and Analysis - By Applications
9.3 Asia pacific (APAC)
9.3.1 Asia Pacific Network Security Market Overview
9.3.2 Asia Pacific Network Security Market Forecasts and Analysis
9.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
9.3.2.1.1 China market
9.3.2.1.2 India market
9.3.2.1.3 Japan market
9.3.2.1.4 Rest of Asia Pacific market
9.3.3 Asia Pacific Market Forecasts and Analysis - By Solutions
9.3.4 Asia Pacific Market Forecasts and Analysis - By End Users
9.3.5 Asia Pacific Market Forecasts and Analysis - By Applications
9.4 Middle East and Africa (MEA)
9.4.1 Middle East and Africa Network Security Market Overview
9.4.2 Middle East and Africa Network Security Market Forecasts and Analysis
9.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.2.1.1 South Africa market
9.4.2.1.2 Saudi Arabia market
9.4.2.1.3 UAE market
9.4.2.1.4 Rest of MEA market
9.4.3 Middle East and Africa Market Forecasts and Analysis - By Solutions
9.4.4 Middle East and Africa Market Forecasts and Analysis - By End Users
9.4.5 Middle East and Africa Market Forecasts and Analysis - By Applications
9.5 South America (SAM)
9.5.1 South America Network Security Market Overview
9.5.2 South America Network Security Market Forecasts and Analysis
9.5.2.1 South America Market Forecasts and Analysis - By Countries
9.5.2.1.1 Brazil market
9.5.2.1.2 Rest of SAM market
9.5.3 South America Market Forecasts and Analysis - By Solutions
9.5.4 South America Market Forecasts and Analysis - By End Users
9.5.5 South America Market Forecasts and Analysis - By Applications
10 Industry Landscape
10.1 Mergers & acquisitions
10.2 Market Initiatives
10.3 New developments
10.4 Investment scenarios
11 Competitive Landscape
11.1 Competitive Product mapping
11.2 Market Positioning/ Market Share
12 Network Security Market, Key Company Profiles
12.1 Cisco Systems
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 Fortinet, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.2.5 Key Developments
12.3 Honeywell International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 Hewlett Packard Enterprise Development LP
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 IBM
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 SWOT Analysis
12.5.5 Key Developments
12.6 Siemens AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 SWOT Analysis
12.6.5 Key Developments
12.7 Symantec Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 Maverick Cyber-Defense, LLC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 Barracuda Networks, Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.10 Trend Micro Incorporated
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 SWOT Analysis
12.10.5 Key Developments
13 Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
13.3 Research Methodology
1. Cisco Systems
2. Fortinet, Inc.
3. Honeywell International Inc.
4. Hewlett Packard Enterprise Development LP
5. IBM
6. Siemens AG
7. Symantec Corporation
8. Maverick Cyber-Defense, LLC
9. Barracuda Networks, Inc.
10. Trend Micro Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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