PUBLISHER: SkyQuest | PRODUCT CODE: 1165282
PUBLISHER: SkyQuest | PRODUCT CODE: 1165282
Global Network Security Market Size was valued at USD 19.98 billion in 2021. It is expected to reach a value of USD 51.89 billion by 2028, at a CAGR of 12.5% over the forecast period (2022 - 2028).
Worldwide, there are numerous private, professional, and governmental data on networking infrastructure. Network managers are concentrating on integrating new technologies and components because the need for security on every network is evident, and network security concerns are growing exponentially. These factors will drive the demand for network security in the global market.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Network Security Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report:
Global Network Security Market is segmented based on Type, Industry, Enterprise Size, Deployment, and Region. Based on type the market is further sub-segmented into Firewall, Antivirus/Antimalware, and SWG. Based on Industry the market is further sub-segmented into Aerospace And Defense, Government, Banking, Financial Services, And Insurance (BFSI). Based on Enterprise size the market is further sub-segmented into Small & Medium enterprise and Large Enterprise. Based on Deployment the market is further sub-segmented into On-Premise and Cloud. Based on Region North America, Europe, Asia Pacific, Middle East and Africa, South America.
Driver
Services and products used to monitor, prevent misuse or malfunction, as well as block illegal access are included in network security. Over the past few years, network security has become increasingly important due to the rise in hacker activity. To control dangers beyond their capacity, both small and major end-use industries have started to invest in network security. These solutions might result in lower costs and more worker productivity, giving investors a competitive edge.
Restraint
The global network security market is expected to face hindrances due to the low budget allotted for security solutions. Numerous companies fail to allocate the required funds for security solutions, thus reducing their adoption rates. The high setup cost of the software also creates challenges for players in the market.
Market Trends
The adoption of 5G network is expected to create novel opportunities for players in the global market. 5G delivers improved network solutions that provide high-speed services, improved bandwidth, latency, and dependability. Technological advancement and its higher adoption rate will bring new revenue-generating opportunities in the global network security market.